Category Archives: ECB
In principle, according to the ECB, there has to be a separation between the exercise of executive and, non-executive functions within a management body. In its judgment, the General Court rejected the appeals of the four regional branches and confirmed the approach taken by the ECB.
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In particular, the General Court referred to the objective pursued by the EU legislature concerning good governance. That objective involves effective oversight of the senior management by the non-executive members of the management body, necessitating checks and balances within the management body. The effectiveness of this supervision could be jeopardised if the chairman of the board of directors in its supervisory function, while not formally occupying the role of chief executive officer, was also responsible for the effective direction of the business of the credit institution.
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In that regard, the General Court noted that Article L. It stressed that the broader scope of Article L.
Noteworthy This case shows how the ECB is progressively developing its interpretation of various provisions of EU banking law when exercising its supervisory powers and under the judicial review of the EU courts. Its view has been confirmed by the EU General Court.
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Find showtimes, watch trailers, browse photos, track your Watchlist and rate your favorite movies and TV shows on your phone or tablet! Movie star Owen Wilson 's friends are laughing off reports suggesting he's dating dancer Karina Smirnoff , insisting the pair has only met once - at a party.
New tabloid reports suggest the Dancing With The Stars regular and the Midnight in Paris star have become an item after splitting from their respective partners, baseball star Brad Penny and Jade Duell, who gave birth to Wilson's son, Ford, last year. But sources insist the rumours are completely unfounded.
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She Smirnoff was introduced to Owen at a party.