Judicial Review in the European Banking Union
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Judicial Review in the European Banking Union

Edited by Chiara Zilioli and Karl-Philipp Wojcik

This is the first book to offer a profound, practical analysis of the framework for the judicial and pre-judicial protection of rights under the supranational banking supervision and resolution powers in the European Banking Union (EBU). It is also unique in its in-depth commentary on the developing case law from the European Court of Justice in this new field of EU litigation.
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Chapter 25: THE JUDICIAL REVIEW OF FINES AND PENALTY PAYMENTS SET BY THE SRB

Leo Flynn

Abstract

Articles 38 and 39 of the SRM Regulation are highly prescriptive, in relation to fines and periodic penalty payments. They require the SRB to adopt penalty decisions where there is a breach of certain underlying decisions, and they dictate in fine detail how the SRB is to fix the amount of the penalty. Those characteristics are critical when considering judicial review of such penalty decisions, meaning that many of the arguments usually run in litigation on the validity of administrative decisions are unlikely to be pertinent.

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