Capping of Bankers’ Bonuses? Case C-507/13 UK v. Parliament and Council

Abstract:

This case note considers the United Kingdom (UK) government’s unsuccessful challenge in the area of regulating variable remuneration for bankers at Union level. It explains the UK’s arguments and the reasoning of the Advocate General. It also considers whether or not the UK was correct to withdraw its legal challenge and the likely consequences of the decision, highlighting that the provisions may not necessarily achieve their desired aim and the potential for future conflict following the recent publication of further EBA guidelines.