European Union

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
News & Analysis as of

CFTC Seeks Comments on ICE Clear Europe Petition

On April 7, the Commodity Futures Trading Commission requested public comment on a petition submitted by ICE Clear Europe Limited (ICE Clear Europe) to amend an earlier CFTC order permitting ICE Clear Europe and futures...more

The Highest Court in the European Union Strikes Down the Data Retention Directive as Invalid

In a significant move, the Court of Justice of the European Union (CJEU) has ruled that the Data Retention Directive 2006/24/EC (Directive) is invalid. This decision is expected to have wide-reaching implications for privacy...more

Section 1 Claims Dismissed in LIBOR, TIBOR Class Action

On March 28, 2014, Judge Daniels of the Southern District of New York dismissed antitrust and unjust enrichment claims against over 20 banks accused of manipulating prices in the Euroyen interbank lending market by submitting...more

French Approach to After Hours Work Unlikely to Catch On

A new labor agreement reached in France requires employers in certain technology and consultancy sectors to take steps to ensure employees are not plugging into work on their free time. France has had a 35-hour workweek for...more

UCITS V - Aligning with AIFMD!

The European Parliament voted to adopt the UCITS V Directive (“UCITS V”) on 15 April 2014, in advance of Parliamentary elections next month. The final vote followed a period of uncertainty where there was potential for the...more

Financial Regulatory Developments Focus - April 2014

In this issue: - Derivatives - Compensation - Regulatory Capital - Financial Services - Financial Crime - Excerpt from Derivatives: European Commission Consults on Definition...more

EU expands Ukraine-related asset freeze list to four more persons, work on possible Russia sanctions continues

In an attempt to strengthen European Union (EU) sanctions targeting misappropriation of Ukrainian state funds, the EU has added another four names to the existing list of individuals subject to an asset freeze. These...more

Privacy in Latin America and the Caribbean

With the enactment or implementation of several new data privacy laws in the past couple of years, the privacy landscape in Latin America and the Caribbean continues to change dramatically. Twelve countries in the region now...more

EU Commission Proposes to Amend Shareholder Rights Directive

The proposal covers shareholder votes on remuneration policies and related party transactions and greater transparency obligations on certain market participants. The European Commission (EU Commission) recently...more

EU High Court Strikes Down Data Retention Law

On April 8, 2014, the highest court in the European Union invalidated an EU law that required telephone and electronic communications providers to retain user data for up to two years....more

Article 29 Working Party issues draft model clauses processor-to-subprocessors

Recently the Article 29 Working Party, an independent advisory body composed by the representatives the EU Member States’ data protection authorities, issued a working document on draft model clauses for the international...more

For the first time Germany extradites former executive to the US on antitrust charges

Romano Pisciotti, an Italian national, was extradited from Germany in April 2014 to personally face criminal charges in the US for participating in a worldwide cartel. This is the first time an individual has been extradited...more

EU Commission Proposes Further Harmonisation of Single-Member Companies

The proposed directive seeks to coordinate national requirements concerning the formation, registration, and operation of single-member companies. On 9 April, the European Commission published a provisional draft of a...more

April 2014: EU Litigation Update

License Agreements Under Scrutiny—A New Challenge for Non-Challenge Clauses. In general, license agreements are deemed pro-competitive. Licensing leads to the dissemination of technology and promotes (follow on) innovation...more

European Data Protection Supervisor Issues Big Data Opinion

The European Data Protection Supervisor (EDPS) has issued a preliminary opinion that addresses some of the issues and convergences in EU data protection, consumer protection and competition laws that are not up to date with...more

Europe Under Review : Part 2 Of 8 – Data Collection

As the next in our series of “back to privacy basics”, we look the rules regarding collection and processing of personal data. As we will do throughout this series, we take a look at the current position and what is...more

French Court Supports Freedom of Authentication: A Win for Art Experts

Recently, the high court of appeals in Paris upheld an art expert’s right to refuse to authenticate a work of art. While this decision took nine years to come to fruition, it validates an art expert’s freedom to make an...more

United Kingdom and European Union Continue Push Toward Private Actions

There have been two recent developments in the expansion of private antitrust actions in the United Kingdom and the European Union. First, the United Kingdom continues to push toward opt-out collective proceedings for...more

Cross-Border RTS Starts Countdown For EMIR Obligations For Non-EU Counterparties

OTC derivative contracts which have a counterparty located outside of the European Union (“EU”) may now be subject to the requirements of the European Market Infrastructure Regulation(“EMIR”). ...more

Law À La Mode - Issue 13 - April 2014

In This Issue: - PRIVACY BY DESIGN? FASHION FLAIR TRANSFORMS WEARABLE TECHNOLOGIES: The rise of the wearables – and the data protection challenges they bring - EFFECTIVELY DELIVERING IT SERVICES IN THE RETAIL...more

Sport, Media, and Entertainment Intelligence - April 2014

Spanish Supreme Court orders Le Monde to pay damages to Real Madrid and FC Barcelona - The Spanish Supreme Court has ordered French daily newspaper Le Monde to pay damages of €300,000 to Real Madrid and €15,000 to FC...more

Insurance and Reinsurance Newsletter: Italy - April 2014

1. IVASS (ITALIAN INSURANCE SUPERVISORY AUTHORITY) – NEW REGULATIONS ON COMPLAINTS MANAGEMENT - On 1 April 2014, the draft measure containing amendments to ISVAP (former Italian Insurance Supervisory Authority)...more

Private Equity Investors Are Not Immune to Antitrust Risks in the EU

Earlier this month, the European Commission imposed fines totaling nearly EUR 302 million on producers of underground and high-voltage power cables, based on allegations that the producers had engaged in illicit market...more

Antitrust Matters - April 2014 (Global)

Welcome to the second issue of our global competition and antitrust law newsletter Antitrust Matters. The importance and shifting nature of antitrust problems facing companies and individuals is by its nature, a work in...more

New Rules For Energy Aid: EU Adopts Revised Guidelines For Assessment Of State Aid in The Energy Sector

For the first time, the European Commission has decided on comprehensive rules for the assessment of State aid in the energy sector. The new text adopted on 9 April 2014 will create the framework for the ability of EU Member...more

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