ESAs’ Board of Appeal dismisses case against ESMA on alleged non-application of Union law


Date: 20 October 2020
On 12 October 2020, the Joint Board of Appeal of the European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published its decision in the appeal case brought by Mr Howerton against the European Securities and Markets Authority (ESMA). The Board of Appeal’s decision considered as inadmissable the Appellant’s claim that six national financial supervisory authorities and ESMA should have taken supervisory steps in relation to an alleged non-application of Union law.