Judgment of the Court (Eighth Chamber) of 14 December 2006 – Commission v Luxembourg
(Case C‑218/06)
Failure of a Member State to fulfil obligations – Directive 2002/87/EC – Supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate – Failure to implement within the prescribed period
Actions for failure to fulfil obligations – Examination of merits by the Court – Situation to be taken into consideration – Situation on expiry of the period laid down in the reasoned opinion (Art. 226 EC (see para. 6)
Re:
| Failure of a Member State to fulfil obligations – Failure to adopt, within the prescribed period, provisions necessary to comply with Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council (OJ 2003 L 35, p. 1). |
Operative part
The Court:
1. |
| By failing to adopt within the prescribed period, the laws, regulations and administrative provisions necessary to comply with Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council, the Grand-Duchy of Luxembourg has failed to fulfil its obligations under that directive; |
2. |
| The Grand-Duchy of Luxembourg is ordered to pay the costs. |