U.K. Loses Court Fight Over EU Powers to Ban Short-Selling
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The U.K. lost its fight against European Union powers to ban short-selling, as the bloc’s top court delivered a blow to Britain’s bid to rein in EU control over financial rules.
The EU Court of Justice in Luxembourg rejected “in its entirety” Britain’s claim that emergency powers handed to the European Securities and Markets Authority were illegal and encroached on national regulators.