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Enforcement of Fines and Other Pecuniary Obligations Imposed by the ECB: (Part II): National Level

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  • Hayden Helene

    (Dr. Helene Hayden works as a scientific project employee (Post Doc) at the University, of Vienna, Department of Commercial and Business Law, and as public prosecutor at the Vienna Public Prosecutor’s Office, currently assigned to the Austrian Supreme Court (Panel for Corporate Law). Note: This paper was prepared under the Legal Research Programme in 2020 financed by the ECB. I would like to thank the ECB’s Legal Service, Prof. Dr. Ulrich Torggler, LL.M. (University of Vienna) and Chief Public Prosecutor Hon.-Prof. Dr. Fritz Zeder (Ministry of Justice, AT) for the critical review of the paper and the valuable comments and Chief Public Prosecutor Dr. Franz Mohr (Ministry of Justice, AT), Judge Dieter Swoboda (AT) and Research Assistant Elisabeth Drach for the valuable remarks during the preparation of the questionnaire. Special thanks may also be given to the following persons/institutions for providing a comprehensive insight into their legal system: Biagio Zammitto (Federal Public Service Justice), Nikolay Bebov and Kristina Dimitrova (Tsvetkova Bebov Komarevski Attorneys at Law), Prof. Dr. Alan Uzelac (University of Zagreb), Vladimír Čížek and Matěj Šarapatka (Schoenherr Attorneys-at-Law, Prague office), Ulrich Hejle (DLA Piper Denmark), Hanna Esko (Attorney at Magnusson Law, Tallinn office), Ass. Prof. Tuomas Hupli (University of Turku), Prof. Rudy Laher (University of Limoges), Prof. Dr. Beate Gsell and Rodrigo Araldi, LL.M. (Ludwig-Maximilians-University Munich), Prof. Christos Gortsos and Prof. Dimitrios Tsikrikas (both National Kapodistrian University of Athens), Siegler Bird & Bird Law Office (Budapest), Prof. Elena Zucconi Galli Fonseca, Prof. Paolo Biavati, Ass. Prof. Michele Angelo Lupoi, Ass. Prof. Lea Querzola, Ass. Prof. Carlo Rasia (Department of Legal Studies, University of Bologna), Viktor Veips (Latvijas Banka); Tautginas Mickevičius (Lithuanian Ministry of Justice), Julian Vella (Office of the Maltese State Advocate), Tim Alferink (Baker McKenzie Amsterdam), Prof. Rui Pinto (Universidade de Lisboa), National Bank of Slovakia and Dr. Markus Bruckmüller (WOLF THEISS Attorneys-at-law, Slovenian Branch). Any views expressed are only those of the author and do not necessarily represent the views of the ECB or the Eurosystem. Any errors remain those of the author. Austria)

Abstract

The overall studyprovides a comprehensive analysis of the enforcement of fines and other pecuniary obligations imposed by the ECB within the Eurosystem and Single Supervisory Mechanism (SSM) and it highlights how the mismatch between European and national law inherent in Art. 299 TFEU could be resolved. While the focus in Part I was on the European law requirements with regard to the enforcement of pecuniary obligations imposed by the ECB, Part II focuses on the Member State’s (MS) perspective and is based on a comparative analysis of the respective data collected in 2020 via a questionnaire survey in 21 MSs. This data will serve not only to have a closer look if and how the European law requirements are implemented but also to analyse how effective the different legal systems are and to identify gaps in legal protection in practice. The results of the analysis of the realisation at national level are not only relevant for the enforcement of obligations imposed by the ECB, but rather also for the enforcement of legal acts of the Council and the ECHowever, not the EP, see ECJ, 6 July 2017, C-189/17 P(R), Gollnisch v Parliament, ECLI:EU:C:2017:528, para. 46; Matthias Ruffert, in: Christian Callies/Matthias Ruffert (eds.), EUV/AEUV, Das Verfassungsrecht der Europäischen Union mit Europäischer Grundrechtecharta, 5th edn., 2016, Art. 299 TFEU 1; differing Maria Geismann, in: Hans von der Groeben/Jürgen Schwarze/Armin Hatje (eds.), Europäisches Unionsrecht, 7th edn., 2015, Art. 299 TFEU 2; Martin Gellermann, in: Rudolf Streinz (ed.), EUV/AEUV, Vertrag über die Europäische Union, Vertrag über die Arbeitsweise der Europäischen Union, Charta der Grundrechte der Europäischen Union, 3rd edn., 2018, Art. 299 TFEU 4. In my opinion, it should be indicated of which of the commented instruments Art. 299 is meant. Obviously it can only be the TFEU, but for clarity it should be indicated. as well as judgments of the CJEU (Art. 280 TFEU) as they generally follow the same rules under national law.

Suggested Citation

  • Hayden Helene, 2022. "Enforcement of Fines and Other Pecuniary Obligations Imposed by the ECB: (Part II): National Level," European Company and Financial Law Review, De Gruyter, vol. 19(1), pages 76-99, February.
    • Handle: RePEc:bpj:eucflr:v:19:y:2022:i:1:p:76-99:n:2
    DOI: 10.1515/ecfr-2022-0003
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