Judgment of the General Court Third Chamber, Extended Composition of 6 October 2021, Aeris Invest v ECB, T-827/17

• Date: 06 October 2021
• Year: 2021

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Rights of the European Union,

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preclude rules on criminal sanctions such as those laid down in

Finnish law in connection with the crossing of the national border without a valid iden tity card or

passport.

In that regard, it observes that, while it is open to the Member States to impose a fine in order to

penalise a failure to comply with a formal requirement relating to the exercise of a right conferred by

EU law, that sanction must be proportionate to the gravity of the infringement. Where, as in the

present case, the obligation to be in possession of a valid identity card or pa ssport is disregarded by a

beneficiary of the right to freedom of movement who possesses such a document but has merely

failed to carry it when travelling, it is a minor offence. Therefore, a heavy financial penalty, such as a

fine of 20% of the offender’s average net monthly income, is not proportionate to the seriousness of

that offence.

III. INSTITUTIONAL PROVISIONS: ACCESS TO DOCUMENTS

Judgment of the General Court (Third Chamber, Extended Composition ) of 6 October 2021,

Aeris Invest v ECB, T-827/17

Access to documents – Decision 2004/258/EC – Documents concerning the adoption of a resolution

scheme for Banco Popular Español – Partial refusal of access – Exception relating to the protection of the

confidentiality of the proceedings of the ECB’s decision-making bodies – Documents reflecting the

outcome of the proceedings of the ECB’s decision-making bodies –Obligation to state reasons – Exception

relating to the protection of the financial, monetary or economic policy of the European Union or of a

Member State – Exception relating to the protection of the stability of the financial system in the

European Union or in a Member State – Exception relating to the protection of the confidentiality of

information that is protected as such under EU law – Concept of ‘confidential information’ – General

presumption of confidentiality – Exemptions from the obligation of professional secrecy – Article 47 of the

Charter of Fundamental Rights

The applicant, Aeris Invest Sàrl, held shares in Banco Popular Español, SA (‘Banco Popular’), a credit

institution established in Spain which was subject to direct prudential supervision by the European

Central Bank (ECB).

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On 6 June 2017, the ECB, after consulting the Single Resolution Board (SRB),

carried out an assessment regarding whether Banco Popular was failing or was likely to fail.

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That

same day, Banco Popular’s board of directors informed the ECB that it had reached the conclusion

that the bank was likely to fail. On 7 June 2017, the SRB adopted a decision concerning a resolution

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Article 49(3) of the Charter of Fundamental Rights of the European Union.

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Pursuant to Council Regulation (EU) No 1024/2013 of 15 October 2 013 conferring specific tasks on the ECB concerning policies relating to the

prudential supervision of credit institutions (OJ 2013 L 287, p. 63).

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In accordance with the second subparagraph of Article 18 (1) of Regulation (EU) No 806/2014 of the European Parliament and of the Council

of 15 July 2014 establishing uniform rule s and a uniform procedure for the resolution of credi t institutions and ce rtain investment firms in

the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) N o 1093/2010 (OJ 2014 L 225,

p. 1).