Case C-8/18: Order of the Court (Ninth Chamber) of 16 May 2019 (request for a preliminary ruling from the Vilniaus apygardos teismas — Lithuania) — TE, UD, YB, ZC v Luminor Bank AB (Reference for a preliminary ruling — Article 53(2) and Article 99 of the Rules of Procedure of the Court of Justice — Freedom to provide services — Markets in financial instruments — Natural person who has acquired a derivative financial instrument from a bank — Classification of that person within the meaning of EU law)
Date: 2019-05-16
Institutions: Court of Justice
Subjects: advertising malpractice, bank, bond, borrowing, consumer information, financial derivative, freedom to provide services, natural person








C_2019288EN.01000401.xml










26.8.2019   


EN


Official Journal of the European Union


C 288/4






Order of the Court (Ninth Chamber) of 16 May 2019 (request for a preliminary ruling from the Vilniaus apygardos teismas — Lithuania) — TE, UD, YB, ZC v Luminor Bank AB
(Case C-8/18) (1)

(Reference for a preliminary ruling - Article 53(2) and Article 99 of the Rules of Procedure of the Court of Justice - Freedom to provide services - Markets in financial instruments - Natural person who has acquired a derivative financial instrument from a bank - Classification of that person within the meaning of EU law)
(2019/C 288/04)
Language of the case: Lithuanian

Referring court

Vilniaus apygardos teismas

Parties to the main proceedings


Applicants: TE, UD, YB, ZC

Defendant: Luminor Bank AB

Operative part of the order

Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments, amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC, Directive 2011/83/EU of the European Parliament and of the Council of 25 October 2011 on consumer rights, amending Council Directive 93/13/EEC and Directive 1999/44/EC of the European Parliament and of the Council and repealing Council Directive 85/577/EEC and Directive 97/7/EC of the European Parliament and of the Council, and Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU must be interpreted as not applying to the acquisition of bonds using borrowed funds, such as those at issue in the case in the main proceedings, in so far as those acquisitions were made prior to 1 November 2007.
The first and second questions, in so far as they relate to Directive 2001/34/EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to official stock exchange listing and on information to be published on those securities, Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse), Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34, and Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements, are manifestly inadmissible.


(1)  OJ C 152, 30.4.2018.