Ch.4 EU Agencies Case
Question
What did the ESMA judgment (2014) decide, and how did it change Meroni?
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Answer
It upheld ESMA's short-selling intervention powers, refining Meroni: discretion IS permissible if clearly defined, based on objective criteria, time-limited, and judicially reviewable.
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Case: United Kingdom v Parliament and Council, on Regulation 236/2012 (short selling). A doctrinal evolution, not a rupture.
CJEU case law (curia.europa.eu) & EUR-Lex
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