This article examines the administrative remedy provided by the
Administrative Board of Review (ABoR) of the European Central Bank (ECB), as
part of the broader issue of the right of defence of natural and legal persons vis-a`-vis
ECB supervisory decisions within the Single Supervisory Mechanism (SSM). After
presenting an overview of the review panels established in the financial sector in the
EU, the article describes the experience with the ABoR by analysing its composition,
its mandate and scope of review, the main procedural aspects and the relationship
with judicial proceedings before the European Court of Justice. Particularattention is given to the substantial issues dealt with by the ABoR in its Opinions
and to some of the major challenges faced in the first 2 years of practice. Among
them is the assessment of the correct application of national laws implementing EU
legislation by the ECB. The paper identifies two aspects giving particular cause for
concern and requiring legislative reforms: (1) the assessment of the suitability of the
members of management bodies (fit and proper assessment) and (2) the inclusion of
bank holding companies within the scope of banking supervision.

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