Meijers Prize 2023 for best publication (PhD candidates)
On 11 January, the book chapter ‘Duty of care as a judicial review tool for SSM composite procedures’ written by Barbora Budinská and Jouke Tegelaar was awarded the 2023 Meijers Prize for best publication by a PhD candidate published in 2022–2023 in the research programme ‘The Progression of EU law’.
The book chapter studies the collaboration between the European Central Bank (ECB) and the national competent authorities in the Single Supervisory Mechanism (SSM). In particular, it analyses how the ECB’s lack of competence to combat money laundering and terrorism financing (AML/CFT) can be reconciled with its sole responsibility and legal accountability for decisions in which an AML/CFT assessment is a key factor. These decisions include decisions to grant or oppose an acquisition of a qualifying holding or withdraw a banking licence. The chapter suggests that the general principle of duty of care can be operationalised to allow the ECB to review the AML/CFT assessments made by the national competent authorities without exceeding the limits of its competence and the Court of Justice of the European Union. This in to ensure effective judicial control and protection.
The chapter forms part of the book ‘Digitalisation, Sustainability, and the Banking and Capital Markets Union. Thoughts on Current Issues of EU Financial Regulation’ edited by Lukas Böffel and Jonas Schürger and published with Palgrave Macmillan for the book series of the European Banking Institute ‘EBI Studies in Banking and Capital Markets Law’.
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