August 01
2021
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8th April 2021
Banking & Finance Institutional law Justice & Litigation

Op-Ed: “Is Dialogue between Courts and Quasi-courts possible without formal communication channels?” by Elia Cerrato García

Introduction

The expression ‘there’s more to this than meets the eye’ refers to situations where the apparent simplicity of the situation on the surface can mask a deeper issue lying underneath. This expression can aptly describe the recent A v ESMA, Decision D 2021 02. In that case, the Board of Appeal (BoA) found inadmissible an appellant’s challenge of ESMA’s decision not to take any action against a national authority (NCA) for breach of EU law. On the surface, it appears to be a further decision simply reiterating well-settled precedents. In reality, with a prudent stance it lays open a series of thorny issues in the recent EU architecture of financial supervision, ranging from the balance between EU and national remits of co

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