Source: All England Reporter
Publisher Citation: [2014] All ER (D) 137 (Jan)
Court: Court of Justice of the European Union (Grand Chamber)

Judges Skouris, President, Lenaerts, Vice-President, Tizzano, Silva de Lapuerta (Rapporteur), Ilešic, Juhász, Borg Barthet, Fernlund, da Cruz Vilaça, Presidents of Chambers, Arestis, Malenovsky, Levits, Berger, Prechal, Jarašiunas, Advocate General: Jääskinen

Judgment Dates: 22 January 2014


European Union - Freedom of movement - Capital - European regulation establishing European Securities and Markets Authority (ESMA) to ensure supervision of European Union's financial system - European Parliament and Council subsequently adopting European regulation containing provision giving ESMA power to impose conditions or prohibitions on natural or legal persons with net short positions in relation to specific financial instruments - United Kingdom seeking annulment of that provision on basis that provision in breach of European legal principles and treaties - Whether provision should be annulled - Treaty on the Functioning of the European Union, arts 114, 290, 291.

The Case

European Union Freedom of movement. The Court of Justice of the European Union dismissed the action brought by the United Kingdom against the European Parliament in which the UK sought the annulment of art 28 of Regulation (EU) 236-2012 of the European Parliament and of the Council (on short selling and certain aspects of credit default swaps).

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