936The three financial appeal bodies established in the EU (Board of Appeal of the European Supervisory Authorities, Administrative Board of Review of the SSM, and Appeal Panel of the Single Resolution Board) have certainly a number of advantages. Particularly, their technical expertise in matters of financial supervision and resolution makes them well placed to understand the intricacies, complexities and reactions of financial markets. The members of these bodies are individuals of high repute, with a proven record of relevant knowledge and professional experience and are not bound by any instructions, thereby acting independently and in the public interest. Yet, there are also drawbacks as the nature of these financial appeal bodies is hybrid, quasi-judicial, combining features from both advisory committees and courts of justice. Also, the legal regime applicable to these financial appeal bodies is both complex and not uniform. The rationale of the new European financial regulatory regime post GFC, which prompted the creation of the appeal bodies, resides in the primacy of financial stability and public interest considerations. Although there is no doubt that administrative decisions need to be motivated if they are to be reviewed, most of such decisions in the area of banking and finance are very complex and yet timing is crucial for them to be effective. On these grounds, legitimacy and accountability are of utmost importance for any democratic system to properly function; however, the more complex the activity, the more difficult it is to establish clear standards of conduct and specific outcomes.937

中文翻译：

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欧盟金融上诉机构：单一决议委员会上诉小组的性质和未来

第936章欧盟设立的三个金融上诉机构（欧洲监管机构上诉委员会、SSM 行政审查委员会和单一决议委员会上诉小组）无疑具有许多优势。特别是，他们在金融监管和解决问题方面的技术专长使他们能够很好地了解金融市场的复杂性和反应。这些机构的成员都是享有盛誉的个人，拥有相关知识和专业经验的良好记录，不受任何指示的约束，从而独立行事并符合公共利益。然而，由于这些金融上诉机构的性质是混合的、准司法的，结合了咨询委员会和法院的特征，因此也存在缺陷。还，适用于这些财务上诉机构的法律制度既复杂又不统一。全球金融危机后新的欧洲金融监管制度促使上诉机构的成立，其基本原理在于将金融稳定和公共利益考虑放在首位。尽管毫无疑问，行政决策如果要接受审查就需要激励，但银行和金融领域的大多数此类决策都非常复杂，但时机对于它们的有效性至关重要。基于这些理由，合法性和问责制对于任何民主制度的正常运作至关重要；然而，活动越复杂，就越难制定明确的行为标准和具体结果。第937章