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Publication details for Dr Pierre Schammo

Schammo, P. (2015). Protecting the City of London? UK challenges before the Court of Justice of the European Union. The Company Lawyer 36(3): 65-66.

• Publication type: Journal Article
• ISSN/ISBN: 0144-1027
• Keywords: Bankers, Bonus payments, EU law, Legal certainty, Ultra vires.
• Further publication details on publisher web site
• Durham Research Online (DRO) - may include full text

Author(s) from Durham

• Dr Pierre Schammo

Abstract

Reflects on the Advocate General's Opinion in United Kingdom v European Parliament (C-507/13), challenging measures in Regulation 575/2013 and Directive 2013/36 which cap bankers' bonuses on the basis that: (1) the provisions on which the measures were based were inappropriate; (2) they infringed the principle of legal certainty; and (3) the powers vested by the measures were ultra vires. Explains how the ruling effectively "turned on its head" a public discourse argument against the cap.