Withdrawal of a credit institution's authorization: clarification of conditions and procedure
Retrait de l'agrément bancaire : clarification des conditions et de la procédure
Résumé
The General Court is judging the first cases of credit institution’s authorization with- drawals by the ECB, mainly due to breaches of the legislation against money launder- ing and the financing of terrorism. In its June 22 judgment, it difficultly clarifies the conditions of such withdrawal. It is justified by a “serious breach”, including old ones, as long as a national authority noticed it. However, the definition of a “serious breach” remains vague. The Tribunal is clearer concerning the procedure, which is not com- posite but remains solely in the hands of the ECB. National authorities only noticed the facts. The ECB has to respect procedural fundamental rights.
Origine : Accord explicite pour ce dépôt