In this paper we analyse institutional issues of common interest to the National Regulatory Authorities (NRAs) and the European Agencies (EAs) created under the impulsion of EC law. Both sets of bodies are examined through the lenses of three institutional regulatory parameters, i.e. (i) the jurisdictional level at which agencies should be placed (EU vs. national), (ii) the degree of homogeneity/heterogeneity that is desirable among agencies, and (iii) the state of compliance with principles of good governance. On the basis of this analysis, we argue that there is some scope for significant reforms. While the creation of NRAs and EAs can be seen as a positive development of EC law, the methods of functioning of these agencies and the way they are organised could largely be improved, in particular with regards to principles of good governance.