In many Member States of the European Union, there exists a statutory limitation (or even exclusion) of liability for the benefit of the local financial supervisor. However, the European Court of Justice has recently ruled that such a limitation clause cannot go beyond a ‘sufficiently serious breach’ which is set by EU law as a condition for member state liability.
Participants may be interested in reading Professor Busch's paper here.
A sandwich lunch will be available from 12.30. The meeting will begin at 1pm.