Temporary EU intervention in short-selling legal, court says

The European Court of Justice (ECJ) ruled on the 22 January 2014 against the United Kingdom that it is legal for the EU to curb short-selling. The dubious practice of selling what you don't own had been blamed for worsening the financial crisis.

The power of the European Securities and Markets Authority to adopt emergency measures on the financial markets of the Member States in order to regulate or prohibit short selling is compatible with EU law

ESO: Background information: UK wins legal backing on EU’s short-selling ban http://www.europeansources.info/record/uk-wins-legal-backing-on-eus-short-selling-ban/

BBC News, 22.01.14: EU court rebuffs UK legal challenge to short-selling law http://www.bbc.co.uk/news/business-25845291

EUObserver, 22.01.14: Court slaps down UK challenge to EU short-selling ban http://euobserver.com/news/122836

ESO: Background information: Advocate General’s Opinion in Case C-270/12. United Kingdom v Council & Parliament http://www.europeansources.info/record/press-release-advocate-generals-opinion-in-case-c-270-12-united-kingdom-v-council-parliament/

Blog: Open Europe, 22.01.14: ECJ rules against the UK in landmark short-selling case http://openeuropeblog.blogspot.co.uk/2014/01/ecj-rules-against-uk-in-landmark-short.html

ECJ: Press Release, No.7, 2014: Judgment in Case C-270/12 United Kingdom v Parliament and Council http://curia.europa.eu/jcms/upload/docs/application/pdf/2014-01/cp140007en.pdf

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