The EU General Court reminds the European Central Bank of the scope of its powers – Agefi Luxembourg

On 4 March 2015, the EU General Court rendered its judgment in a case brought by the United Kingdom against a passage of the European Central Bank’s Eurosystem Oversight Policy Framework published in 2011. Specifically, the UK contested the statement in the Policy Framework that central counterparty clearing houses (CCPs) settling euro-denominated security transactions should be legally incorporated, and have their managerial and operational control over all core functions, in the Eurozone. To read the full article, signed by Philippe-Emmanuel Partsch, please click on the link below

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