Defining and delivering judgement-based supervision: The interface with the legal system

This article explores to what extent the new ‘judgement-led’ supervisory model promises to be different from its predecessors. It highlights the legal difficulties that may be encountered in the supervisory construction of reliable and useful systemic risk maps in terms, and probes some possible areas of tension with the legal system in following through on supervisory judgements formed out of contestable interpretations of a vast constellation of ‘Big Data’ arising from the financial system as a whole and its many different layers and components.