Staff
Publication details for Dr Pierre Schammo
Schammo, P. (2014). Protecting the City of London? UK challenge to EU agency law. The Company Lawyer 35(2): 33-34.- Publication type: Journal Article
- ISSN/ISBN: 0144-1027
- Keywords: EU law, European Securities and Markets Authority, Financial institutions, Financial markets, Financial regulation, London, Powers of intervention, Short selling, Sovereignty, Tax.
- Further publication details on publisher web site
Author(s) from Durham
Abstract
Highlights ongoing UK actions before the European Court of Justice challenging perceived threats which EU legislation poses to national interests and those of the City of London, including the proposed financial transaction tax. Discusses the specific challenge to Regulation 236/2012 (Short Selling Regulation) and the powers it vests in the European Securities and Markets Authority (ESMA) to override national measures. Reflects on the institutional significance of the case, the scope for changing the legal basis for ESMA's powers of intervention, and the possible impact of the decision.
