The article discusses the issue of the financial market supervision in its institutional context and explores its various dimensions. Its intention is to review the origins and directions of institutional restructuring of the supervision taking place in the last 15 years and to discuss its...

Financial markets require proper regulation and supervision. Their standards, architecture and mutual relations have to keep pace both with the current understanding of the core business as well as with market developments.The program put forward by FSAP and particularly by the Solvency II...