This document is an excerpt from the EUR-Lex website
Document 62012CA0270
Case C-270/12: Judgment of the Court (Grand Chamber) of 22 January 2014 — United Kingdom of Great Britain and Northern Ireland v European Parliament, Council of the European Union (Regulation (EU) No 236/2012 — Short selling and certain aspects of credit default swaps — Article 28 — Validity — Legal basis — Powers of intervention conferred on the European Securities and Markets Authority in exceptional circumstances)
Case C-270/12: Judgment of the Court (Grand Chamber) of 22 January 2014 — United Kingdom of Great Britain and Northern Ireland v European Parliament, Council of the European Union (Regulation (EU) No 236/2012 — Short selling and certain aspects of credit default swaps — Article 28 — Validity — Legal basis — Powers of intervention conferred on the European Securities and Markets Authority in exceptional circumstances)
Case C-270/12: Judgment of the Court (Grand Chamber) of 22 January 2014 — United Kingdom of Great Britain and Northern Ireland v European Parliament, Council of the European Union (Regulation (EU) No 236/2012 — Short selling and certain aspects of credit default swaps — Article 28 — Validity — Legal basis — Powers of intervention conferred on the European Securities and Markets Authority in exceptional circumstances)
OJ C 85, 22.3.2014, p. 4–4
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
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22.3.2014 |
EN |
Official Journal of the European Union |
C 85/4 |
Judgment of the Court (Grand Chamber) of 22 January 2014 — United Kingdom of Great Britain and Northern Ireland v European Parliament, Council of the European Union
(Case C-270/12) (1)
(Regulation (EU) No 236/2012 - Short selling and certain aspects of credit default swaps - Article 28 - Validity - Legal basis - Powers of intervention conferred on the European Securities and Markets Authority in exceptional circumstances)
2014/C 85/06
Language of the case: English
Parties
Applicant: United Kingdom of Great Britain and Northern Ireland (represented by: A. Robinson, Agent, J. Stratford QC and A. Henshaw, Barrister)
Defendants: European Parliament (represented by: A. Neergaard, R. Van de Westelaken, D. Gauci and A. Gros-Tchorbadjiyska, Agents), Council of the European Union (represented by: H. Legal, A. De Elera and E. Dumitriu-Segnana, Agents)
Interveners in support of the defendants: Kingdom of Spain (represented by: A. Rubio González, Agent), French Republic (represented by: G. de Bergues, D. Colas and E. Ranaivoson, Agents), Italian Republic (represented by: G. Palmieri, Agent and F. Urbani Neri, avvocato dello Stato), European Commission (represented by: T. van Rijn, B. Smulders, C. Zadra and R. Vasileva, Agents)
Re:
Action for annulment — Validity of Article 28 of Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps (OJ 2012 L 86, p. 1) — Institutional balance — Infringement of the conditions established by the case-law of the Court of Justice for the delegation of powers to agencies — Infringement of Articles 290 and 291 TFEU — Infringement of Article 114 TFEU — Attribution of powers of intervention to the European Securities and Markets Authority (ESMA) — Margin of discretion conferred on ESMA as regards the need for it to intervene and the measures to be adopted — Nature of the measures capable of being adopted by ESMA.
Operative part of the judgment
The Court:
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1. |
Dismisses the action. |
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2. |
Orders the United Kingdom of Great Britain and Northern Ireland to pay the costs. |
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3. |
Orders the Kingdom of Spain, the French Republic, the Italian Republic and the European Commission to bear their own costs. |