»The Limits to the Efficiency of Legislative Instruments of the European Commission and ESMA as Actors in the Lamfalussy Procedure« The study analyses what measures the European Commission can adopt in delegated and implementing acts on level 2 of the Lamfalussy regulatory approach. It also scrutinizes the possible content of public statements by the ESMA on the subsequent level. The author shows that the numerous measures can be systematized and that they follow a dogmatic pattern. The possibility to set rules finds its limits in the barrier of essentiality only in regards to delegated legislation.weiterlesen