Some reflections on the standard of review in the experience of the ESAs Joint Board of Appeal and of the SRB Appeal Panel

This chapter investigates the role of judicial standards of review in the context of financial regulation and cross-border disputes within the European Union. It critically analyzes how courts—particularly the Court of Justice of the European Union—apply varying levels of scrutiny to decisions made by financial regulatory authorities and national bodies. The chapter explores the tension between judicial deference and the need for robust legal oversight in a complex, expert-driven regulatory landscape. It highlights how the choice of review standard affects the effectiveness of judicial protection, the accountability of financial institutions, and the coherence of EU financial governance. The discussion is situated within the broader debate on balancing technocratic discretion and legal control in a multilevel legal order.