Abstract
The financial regulation structures are linked to traditions and differ from onecountry to another. The financial revolution, and in Europe, the creation of unique market ofthe financial services launched again debates over the suitability of the regulation structures. 5-10 years ago, the debates were quartered over the virtues, especially on thedisadvantages that the self-regulation system shows vs. the regulation practiced by the publicorganisms within the law provisions. The debate is based now on types of problems: the roleof the central bank and the problem of the specialization. Regarding the role of the central bank, there are arguments if the central bank is theproper authority to supervise banking and act in accordance with it, as a councilor, afterall. Regarding the specialization, there are arguments if a super or hiper authority,authorized to regulate all the types of services and financial institutions is more adequatethan the regulation by specialized agencies. At the level of the European Union, there is an extra problem if the nationalauthorities must keep the prerogative of financial services supervision, however inaccordance with the basic principle of the economic and monetary integration, or if, on thecontrary, it is better to form a European supervision authority for the financial services.
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