Regulation of supervision on financial markets

Purpose - The purpose of this paper is to consider financial services sector macro-prudential and micro-pmdential supervisory reforms in the European Union (EU), It aims to critically examine the new system, reviewing in particular the adequacy of the reform to address financial crises. Design/methodology/approach - The paper is based on a qualitative analysis of the relevant academic and trade literature. Findings - In considering the new EU supervisory system's constitutional and legal foundation and its organizational structure, the study highlights the revamped and complex architecture's strengths and limitations. Originality/value - The paper makes a contribution to the understanding of the new financial services sector supervisoly system in the EU; few studies have analyzed its constitutional legality and satisfactoriness for the prevention of new crises.