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 37: THE VTB CASE: ADMINISTRATIVE PENALTIES AND ADMINISTRATIVE MEASURES

Jeanne Poscia

Abstract

The preliminary ruling by the ECJ in case C-52/17 VTB Bank (Austria) AG v Finanzmarktaufsichtsbehörde taken in the context of the transfer of competences from the NCAs to the ECB after the beginning of the administrative activity of the Single Supervisory Mechanism on 4 November 2014, in the particular area of administrative penalties and other administrative measures for a breach of directly applicable Union law (Article 395 Regulation (EU) 575/2013), gives an overview of the questions faced by the ECB and the NCAs regarding the remit of the banking supervision framework and the subsistence of pure national powers and the allocation of competences between the ECB and the NCAs.

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