The European Court's dismissal of the UK's challenge to the Short Selling Regulation | Practical Law

The European Court's dismissal of the UK's challenge to the Short Selling Regulation | Practical Law

On 22 January 2014, the Court of Justice of the EU (ECJ), in a controversial but not unanticipated decision, United Kingdom v European Parliament and Council of the EU [2014] EUECJ C270/12, dismissed the UK's challenge to the powers conferred on the European Securities and Markets Authority (ESMA) in the Short Selling Regulation (Regulation 236/2012) and handed down a judgment that could encourage the EU to transfer further powers to EU bodies and limit the oversight of these bodies.

The European Court's dismissal of the UK's challenge to the Short Selling Regulation

by Alexandria Carr, Of Counsel, Financial Services, Regulatory & Enforcement Group, Mayer Brown International LLP
Law stated as at 11 Apr 2014 • European Union
On 22 January 2014, the Court of Justice of the EU (ECJ), in a controversial but not unanticipated decision, United Kingdom v European Parliament and Council of the EU [2014] EUECJ C270/12, dismissed the UK's challenge to the powers conferred on the European Securities and Markets Authority (ESMA) in the Short Selling Regulation (Regulation 236/2012) and handed down a judgment that could encourage the EU to transfer further powers to EU bodies and limit the oversight of these bodies.