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This case note analyses the judgement of 22 January 2014 of the Court of Justice of the European Union (Grand Chamber) in the Case C-270/12 UK v. Parliament and Council (Short selling). In this closely watched case the United Kingdom challenged the empowerment of the European Securities and Markets Authority (ESMA) under Article 28 of Regulation 236/2012 on Short Selling and certain aspects of Credit Default Swaps (henceforth: the Short Selling Regulation) on various grounds. The action forms a part of a series of measures brought by the UK in its attempt to protect the City of London from the increasingly interventionist forms of EU financial regulation. The UK's activism has not been without results, and after the Advocate-General, in his opinion delivered on September 12, 2013 sided with the UK in the crucial question of the appropriate Treaty
