On 4 February 2014, the written answer of the Government regarding the ECJ judgment in United Kingdom v European Parliament and Council of the EU, (Judgment of the Court) [2014] EUECJ C-270/12 (22 January 2014) was published in Hansard.
- the report states that the Government is disappointed that the ECJ has not upheld the UK's challenge to annul Article 28 of the Short Selling Regulation;
- the Government has consistently said it wants tough financial regulation that works, but powers conferred on EU agencies must be consistent with the EU treaties, and ensure legal certainty; and
- the ruling bears no impact on the day-to-day application of the Short Selling Regulation (Regulation 236/2012) and has no implications for other legal challenges made by the UK relating to financial services regulation.
The written answer is available at: http://www.publications.parliament.uk/pa/ld201314/ldhansrd/text/140203w0001.htm
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