Order of the General Court (Second Chamber) of 10 August 2021

Data

Court: General Court

Case date: 10 augustus 2021

Verdict

Order of the General Court (Second Chamber) of 10 August 2021 –
Jakeliūnas v ESMA

(Case T‑760/20)

"(Action for annulment and for failure to act - Request to launch an inquiry - Refusal of the President of ESMA - Act not open to challenge - Inadmissibility - Application for an injunction - Lack of jurisdiction)"

1. Judicial proceedingsApplication initiating proceedingsFormal requirementsIdentification of the subject matter of the disputeSummary of the pleas in law on which the application is basedUnambiguous wording of the form of order sought by the applicant

(Statute of the Court of Justice, Arts 21 and 53; Rules of Procedure of the General Court, Art. 76)

(see para. 16)

2. Action for annulmentActionable measuresActs intended to have legal effectsMeaningConditions

(Art. 263 TFEU)

(see para. 24)

3. Action for annulmentActionable measuresRefusal by the Chair of the European Securities and Markets Authority (ESMA) to launch an inquiry regarding an alleged infringement of EU lawPrecluded

(Art. 263 TFEU; European Parliament and Council Regulations No 1095/2010, Arts 17(2) and 22(4), and No 2019/2175; Council Regulation No 1/2003)

(see paras 25, 29-33)

4. Actions for failure to actNatural or legal personsActionable omissionsAlleged failure by the European Securities and Markets Authority (ESMA) to adopt a measure which may be contested by means of an action for annulmentNot includedClaim for a declaration that ESMA has failed to actInadmissibility

(Arts 263 and 265 TFEU; European Parliament and Council Regulation No 1095/2010, Arts 17 and 22(4))

(see paras 37-39)

5. Action for annulmentJurisdiction of the EU judicatureClaim seeking that directions be issued to an institutionInadmissibility

(Art. 263 TFEU)

(see para. 40)

Re:

In essence, application, first, under Article 265 TFEU seeking a declaration that ESMA unlawfully refrained from launching an inquiry in respect of the infringement of Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse) (OJ 2003 L 96, p. 16) and, second, under Article 263 TFEU seeking annulment of the decision allegedly contained in the letter of the President of ESMA of 20 October 2020 refusing to launch that inquiry.

Operative part

1. The action is dismissed.

2. Mr. Stasys Jakeliūnas shall pay the costs.