FINANCIAL MARKET SUPERVISION AND ITS POSITION IN THE SYSTEM OF FINANCIAL LAW

The terms: system of financial law, financial market with an emphasis on explaining the differences between financial market regulation and financial market supervision are defined. The primary aim and purpose of this paper is to present some theoretical approaches and theories in the context of the actual experience. The main part of the paper deals with financial market supervision, referring to the degree of concentrated power concerning financial supervision, and also mentioning some international aspects of financial supervision. The authors drew on literature on the financial market, the National Bank of Slovakia, the commentaries to statutes, electronic collections of law, economic journals, and other publications of legal matters. In addition, the internet articles as a source of professional literature were used, too, and the authors also worked with the Act on financial market supervision and the Act on. the National Bank of the Slovak Republic. Based on that all, the following hypothesis, set on the basis of hypothetical premises included in this paper should be confirmed. The first hypothesis is an assertion that the banking union will apply to all euro area countries, but not to all countries of the European Union. The second hypothesis concerns the fact that the banks in Slovakia are ready to enter into the banking union, mainly because of their competitiveness and profitability.