Sunday, July 5th27.9°C
26667
26494

EU's top court dismisses British court action and upholds short-selling ban

BRUSSELS - The European Union's top court has dismissed a British lawsuit contesting an EU-wide regulation that bans some short-selling practices to increase financial market stability.

The Luxembourg-based European Court of Justice on Wednesday ruled the legal basis for the European Securities and Markets Authority to adopt such emergency measures is in accordance with EU law since its powers "are precisely delineated and amenable to judicial review."

Many blamed short-selling, a practice in which investors bet that the price of a stock or bond will go down, for creating tremendous volatility and threatening the stability of the financial system.

The regulation in 2012 once more exposed rifts among the EU's 28 members in their bid to overcome the financial crisis, with London arguing the short-selling ban goes beyond the European authorities' powers.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14682.39+44.40
S&P CDNX670.58-1.00
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7942-0.0012
Gold1167.10+4.10
Oil56.20-1.41
Lumber288.50+0.40
Natural Gas2.77-0.05

 
Okanagan Companies
Pacific Safety0.17+0.00
Knighthawk0.010.00
QHR Technologies Inc1.52-0.03
Cantex0.035-0.015
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.78-0.09
Copper Mountain Mining1.17+0.03
Colorado Resources0.09+0.03
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 



25354

FEATURED Property
2306584648 Almandine Court
4 bedrooms 4 baths
$1,395,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...

_



26376

26370


Member of BC Press Council


26782