The Joint Board of Appeal of the European Supervisory Authorities published a decision finding inadmissible an appeal by an individual against the European Banking Authority's refusal to investigate an alleged breach of Union law by the Finnish Financial Supervisory Authority in connection with the closure of a bank account. The Board held that, under established European Union case law, the European Banking Authority has discretion over whether to open an investigation under Article 17 of its founding regulation, and a decision not to do so is not reviewable by the Board of Appeal. The case followed complaints about the closure of the appellant's account by S-Bank Plc and the handling of the matter by Finnish bodies, including FIN-FSA and the ombudsman body FINE. The European Banking Authority had concluded that FINE was outside its remit because it is not a competent authority under the European Union framework, and that there was no apparent breach of European Union law by FIN-FSA, which had said it could not resolve individual disputes and had referred the customer to other channels. The Board also examined whether the case could be distinguished from earlier Board of Appeal decisions and relevant European Union court rulings, including BoA-2022-01, and found no factual or legal basis for a different conclusion.
European Securities and Markets Authority2026-07-16
Joint Board of Appeal of the European Supervisory Authorities finds appeal against European Banking Authority refusal to investigate Finnish supervisor inadmissible
The Joint Board of Appeal of the European Supervisory Authorities ruled that an individual's appeal against the European Banking Authority was inadmissible. It said the European Banking Authority's decision not to open a breach of Union law investigation into FIN-FSA was discretionary and cannot be reviewed by the Board. The Board found no relevant difference from earlier case law that would change that outcome.