论欧盟金融服务法中的母国控制原则

The Home Country Control Principle in the EU Financial Services Law

在欧盟金融服务法中,母国控制原则是指跨境金融服务应主要遵循母国的监管规则,相应的监管责任也主要由母国监管当局承担。母国控制原则不能适用于未经金融服务指令协调的领域。相互承认原则是母国控制原则的前提和基础,母国控制原则又是实施相互承认原则的必然要求和具体体现。这一原则的形成与欧盟金融服务市场一体化方法的转变有着密切联系,其发展也是这种新的一体化模式广泛推行的必然结果。立法和司法实践表明,母国控制原则的适用范围尚不明确,其价值没有得到充分的体现。为了消除跨境金融服务的法律壁垒,推动金融服务市场的一体化进程,欧盟金融服务立法应向协调行为规则、进一步明确划分监管责任并扩大母国控制范围的方向发展。

The home country control principle means cross - homer provision of financial services in the EU internal marker should comply with the regulatory rules of its state of origin. Accordingly, the primary supervision task is attributed to the competent authorities of the same state; the host state authorities, with partial regulatory power, would have a comlementary role. This principle cannot be applied in the unharmonized areas. Even in financial directives, it dose not have an absolute guiding role. It is founded on the premise of matual recognition and its development is closely related to this new integration approach. It is revealed by the European legislation and ECJ＇ s case law that the scope of home country regulation is far from clear. In order to eliminate the obstacles of cross - border financial services and push the integration of the internal market, the Commission should take steps to harmonize the roles of conduct, definitely divide the supervisory responsibilities as well as enlarge the scope of home country control.