INSIGHTS

The European Central Bank (ECB)  is an institution of the European Union. Its seat is in Frankfurt am Main. It was first created in 1998 as a central bank for the eurozone (i.e. the countries of the European Union that use the euro as their currency). The ECB’s primary function was to cooperate with the national central banks of the Member States. This cooperation is known as the European System of Central Banks (ESCB). The ESCB’s objective is to maintain price stability in t

The European Anti-Money Laundering Authority (AMLA)  is a Union body established in 2024. The AMLA has its seat in Frankfurt am Main. The AMLA’s objective is to strengthen the current anti-money laundering and countering of terrorism financing (AML/CFT) framework in the European Union. By its establishment, the European Union seeks to bring AML/CFT supervision to a consistent and uniform application across the Union, rather than relying on the prior fragmented regulatory appr

The EU Whistleblower Protection Directive (the Whistleblower Directive) was established in 2019. Its purpose is to enhance the enforcement of Union law and policies in specific areas by laying down common minimum standards providing for a high level of protection of persons reporting breaches of Union law. The Whistleblower Directive is applicable to reporting persons working in the private or public sector who acquired information on breaches in a work-related context. The

The U.S. Securities and Exchange Commission (SEC)  is the principal federal agency that regulates the U.S. securities markets. Created by Congress in 1934 in response to the Great Depression, its mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. The SEC has six divisions: Corporate Finance, Economic and Risk Analysis, Examinations, Investment Management, Trading and Markets, and Enforcement. The Enforcement Divis

The Single Resolution Board (SRB)  was created in 2014 in response to the financial crisis. Its seat is in Brussels. The SRB is an agency rather than an institution of the European Union. This has a limiting effect on its powers pursuant to the so-called Meroni  doctrine. The SRB’s task is to deal with significant institutions which are failing or likely to fail based on determinations to this effect by the European Central Bank or the Single Resolution Board itself. The SRB

The Court of Justice of the European Union (CJEU)  is the EU’s highest judicial authority. Based in Luxembourg, it ensures that European Union law is interpreted and applied uniformly across all Member States. The CJEU consists of two institutions: the General Court (formerly known as the Court of First Instance) and the Court of Justice. The General Court has jurisdiction to handle disputes between the Union and its servants, otherwise referred to as direct actions, as well

The BaFin  (the Federal Financial Supervisory Authority) is Germany’s national regulator for banks, insurance companies, and financial markets. Its objective is to ensure the proper functioning, stability and integrity of Germany’s financial system. The BaFin operates several different functions to meet this objective. Regarding its banking supervisory responsibilities, the BaFin supervises banks, financial services institutions, payment institutions, insurers and other finan