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German court receives suit against EU bank union
Court News |
2014/07/29 14:28
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A group of German professors has filed a complaint to the country's highest court against the European Union's plans to create a so-called banking union, a central part of the effort to make the continent's financial system more resilient.
The Federal Constitutional Court said Monday it had received the complaint. It wasn't clear when the court might rule; verdicts on previous attempts to block measures meant to stem Europe's debt crisis took at least several months.
The group behind the complaint says the banking union "has no legal basis in the European treaties."
It objects to handing the European Central Bank direct supervision of the eurozone's biggest lenders with binding powers over national authorities, and opposes plans for a separate authority with the power to dissolve or restructure failing banks. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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