The Butterfly Effect: Re-examining the Limits of ESAs’ Discretion

697 Abstract This article argues that despite the long-standing Meroni doctrine, there is no obstacle to the development of CJEU caselaw in terms of limiting this doctrine based on proportionality and the aims and objectives of agencies’ mandates. This commentary argues for greater uniformity between institutions and agencies in the exercise of direct supervisory powers, such as sanctioning. Finally, it considers the impact to centralisation which may result from the blurring of the distinction between institutions and agencies.