European Union Compliance

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

French Employers: Only Three Months Left to Set Up a Single Database | Base de données unique : plus que trois mois pour la mettre...

French law requires companies with 300 or more employees to set up a single database for economic and employment information by no later than 14 June 2014. The French Job Security Act of 14 June 2013, which codified...more

FCPA Snapshot – 2013

SUMMARY - Foreign Corrupt Practices Act (FCPA) enforcement activity in 2013 was robust, with DOJ and the SEC bringing 31 new FCPA enforcement actions, exceeding 2012’s total of 25. Total penalties amounted to more than...more

Significant fines for individuals managing companies soon to be introduced under Polish Competition Law

On 19 February 2014, the second reading of the draft law on competition and consumers protection in the Polish Parliament was completed. The current shape of the proposed provisions does not essentially differ from the...more

Structured Thoughts: Volume 5, Issue 2 - February 20, 2014

In This Issue: Opinions and Warnings – ESMA’s Views on Complex Products; SEC Releases Draft Strategic Plan; Distributing Structured Notes from a Regulation S Platform; and Non-U.S. Equity Underliers and Exchange Rate...more

Whistleblowing and Data Privacy in France: A New Pragmatic Approach for Employment and Discrimination Claims

The French data protection authority has extended the scope of whistleblowing protections to employment and discrimination claims. ...more

The Alternative Investment Fund Managers Directive—a guide for US managers

The EU Alternative Investment Fund Managers Directive (AIFMD) has now been in force for some six months. This overview note is aimed at US managers who have not yet had to get to grips with the AIFMD but will need to raise...more

Banking - Cyprus: Restrictions on transfers of deposits or funds partially eased

Introduction - On January 17 2014 the Ministry of Finance published the 25th Decree, as required by Articles 4 and 5 of the Enforcement of Restrictive Measures on Transactions in Case of Emergency Law 2013. The decree...more

The European Commission Unveils its First EU Anti-Corruption Report, Highlighting the Continuing Risk of Corruption in EU Member...

On February 3, 2014, the European Commission published its first Anti-Corruption Report (the “Report”). The Report covers all types of corruption, including political corruption, bribery of public officials, and private or...more

Safe Harbor in a Storm

The Federal Trade Commission has flexed its muscles in relation to the Safe Harbor privacy framework, but has it done enough to placate European sceptics? The US Federal Trade Commission (“FTC”) announced on 21 January...more

FTC Settles With Businesses Who Allegedly Misrepresented US-EU Safe Harbor Certification

Beware: Even if your company substantially complies with the Privacy Principles of the US-EU Safe Harbor, failure to annually re-certify can land you in hot water. Twelve US businesses—ranging from sports teams, to...more

FCA Publishes Final Guidance on AIFMD Remuneration Requirements

This alert will be of interest to FCA-authorised investment management firms that are registering, or are currently considering registering, as alternative investment fund managers (“AIFMs”). ...more

"The Future of Marketing Non-EU Alternative Investment Funds in Europe"

Adopted by the European Parliament in 2010 and implemented by EU member states in July 2013, the Alternative Investment Fund Managers Directive (the Directive) seeks to protect investors and mitigate market instability by...more

FTC Settles Claims Relating to U.S. – EU Safe Harbor Program

The Federal Trade Commission recently announced it has settled claims against 12 companies relating to charges the companies falsely claimed they were abiding by the U.S. – EU Safe Harbor program that enables U.S. companies...more

Recent Developments In The Italian Anti-Money Laundering Legislation

On January 1, 2014 two regulations, issued by the Bank of Italy in April 2013, entered into force, which deal with the customer due diligence in the field of anti-money laundering and the keeping of the Single Financial...more

More On The ADM FCPA Settlement

Last week, in a post entitled “Supermarket to the World – The ADM FCPA Enforcement Action”, I reviewed the Securities and Exchange Commission (SEC) Compliant brought in connection with the Foreign Corrupt Practices Act (FCPA)...more

Financial Services Quarterly Report - Fourth Quarter 2013: Leveling the Playing Field: Recent Developments in Benchmarks...

The individuals and entities responsible for setting financial market reference rates or, more broadly, financial benchmarks, have not historically been subject to extensive regulation. Recent misconduct by banks with regard...more

Privacy & Cybersecurity Update - December 2013

In This Issue: - European Commission Proposes Changes to the US-EU Safe Harbor: In our November Privacy & Cybersecurity Update,1 we reported that the European Commission was undertaking a review of the U.S.-EU...more

The Financial Report - Volume 2, No. 22 • December 12, 2013 (Global)

OSC to hold derivatives reporting seminar. The Ontario Securities Commission announced that it will hold a seminar on January 15, 2014, on the reporting requirements under the new Derivatives Trade Repositories and...more

FTC Pursuing Incorrect U.S.- EU Safe Harbor Certifications in Privacy Policies

The FTC is reviewing companies with privacy policies that claim U.S.-EU Safe Harbor certification. Companies that are not fully compliant and currently certified may face an FTC enforcement action, which could result in...more

Reporting Obligations under EMIR

The European Markets Infrastructure Regulation (the Regulation on OTC derivatives, central counterparties and trade repositories) ("EMIR") entered into force on 16 August 2012, although many of its requirements have not yet...more

Orrick's Financial Industry Week in Review - November 25,2013

FDIC Guidance on Deposit Advance Products - On November 21, the FDIC issued final supervisory guidance to FDIC-supervised financial institutions with respect to the risks imposed by certain deposit advance products. ...more

Germany: Act against Improper Business Practices in force

The Act against Improper Business Practices (“the Act”), passed by the German legislator, came into force on 9 October 2013, although some of its provisions on collections will take effect on 1 November 2014. The Act contains...more

EU : Commission launches infringement proceedings against 6 Member States; re-ignites proceedings against Sweden

Today, the European Commission has called on a number of Member States to ensure compliance of their national regulatory frameworks for gambling services with the Treaty on the Functioning of the EU....more

"EU Derivatives Trade Reporting Obligations to Begin on February 12, 2014"

Starting February 12, 2014, the European Market Infrastructure Regulation (EMIR) will require EU-counterparties to all derivative contracts, whether traded on or off exchange, to report certain trade information and details...more

Italy’s Competition Chair and Minister of Justice Confirm That ad hoc Compliance Programs Will Continue to be Considered as a...

On 24 October 2013, Chair of the Italian Competition Authority, Giovanni Pitruzzella, and Italy’s Minister of Justice, Anna Maria Cancellieri, spoke in favour of effective ad hoc antitrust compliance programs and their value...more

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