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This dissertation was written as part of the LL.M. in Transnational and European Commercial Law, Banking Law, Arbitration/Mediation at the International Hellenic University. The economic crisis of 2008 has led to global adversities of the international economic system. Consequently, adopting the economic crisis challenges, the European Commission introduced a new financial framework of supervision: the European System of Financial Supervision (ESFS) in 2010. At the start of 2011, it has initiated three new supervisory authorities devoted to controlling the systemic risk and to securing more coordinated supervisory competences. This dissertation is related to both the supervision role, which is mirrored in the application of the European Supervisory Authorities (ESAs) and the European Systemic Risk Board (ESRB). Furthermore, the dissertation describes and evaluates the implications and peculiarities of these new institutional parties within the European Union by granting a crucial approach of their competences in opposite with the frame of the Member States competences, while pointing out basic outcomes that apply in various sectors. More specifically, it justifies that the ESAs have been initiated effectively, but an enhanced foundation is necessary, particularly stronger governance in the decisionmaking in the supervisory stability throughout the European Union. This new regime constitutes obvious progress for the European Capital Markets, even though some political legal and practical shortcomings remain, in most of the case as a consequence of compromise among the Member States. Basic aftermath is that the profits of legislative harmonization, achieved by Single Rulebook, will be eliminated without any orderly establishment and application. It is important these matters to be expressed via the continuous procedure of European Union. Lastly, the dissertation includes suggestions for improvements in ESAs’ efficiency. Undoubtedly, it will be a contest to find the common language between ESAs’ competences and these of national authorities.