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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

EU Data Protection Reform Update

EC Commissioner Oettinger makes noteworthy comments during a conference in Munich regarding the pending EU Data Protection Reform. Background - In 2012, the European Commission (EC) proposed a major reform to...more

EC Competition Law: Latest Developments Provide Ever Greater Opportunities for Private Enforcement

The private enforcement of competition law within the EU continues its inexorable rise and plaintiff opportunities abound. Small and medium size businesses throughout Europe are joining larger companies in initiating...more

Orrick's Financial Industry Week in Review

ESMA Publishes Final Technical advice on the MiFID II Directive and MiFIR - On December 19, 2014, the European Securities and Markets Authority (ESMA) published final technical advice (ESMA/2014/1569) to the European...more

European Commission and EU Art 29 dispel the myths on the ECJ's decision in Google Spain

In May 2014, we reported on the implications of the landmark decision in Google Spain which recognises the right for individuals to have links about themselves de-listed from search results. In response to the complaints...more

EU Commission Publishes Work Program for 2015

The European Commission’s work program for 2015 covers 10 actions for 2015, including a “connected digital single market” across the EU....more

More Antitrust Damages Claims in Europe?

On December 5, 2014, the Official Journal of the European Union published the European Commission’s new directive on antitrust damages in civil actions (the “Directive”). The Directive went into effect on December 26, 2014....more

SCENIHR Publishes Final Opinion on Guidance on the Determination of Potential Health Effects of Nanomaterials Used in Medical...

On January 13, 2015, the European Commission (EC) and its Scientific Committee on Emerging and Newly Identified Health Risks (SCENIHR) published the final opinion “Guidance on the Determination of Potential Health Effects of...more

EMIR – European Commission Responds to Draft RTS on IRS Clearing

The European Commission has publicized its decision to endorse draft regulatory technical standards (“RTS”) submitted to it by the European Securities and Markets Authority (“ESMA”) on the clearing of interest rate OTC...more

European Commission Guidance on Implementing Russian Sanctions

On December 18, the government published a European Commission notice (dated December 16) containing guidance on implementing certain provisions of EU Regulation 833/2014. The notice explains that the Regulation...more

From EMIR to Eternity? - The EU Financial Regulatory Agenda Into 2015 and Beyond

2014 was a very active year for financial regulation in the European Union (EU). There was a push to finalise much of the outstanding primary legislation on the regulatory reform agenda in advance of the European...more

Russia, Venezuela and North Korea: U.S. Trade Sanctions Expand in International Markets

During the same week that President Barack Obama announced sweeping changes in the diplomatic and trade relationships between the United States and Cuba, the president signed congressional legislation authorizing additional...more

Luxleaks - The next level

Until recently, the Luxemburg Government had resisted the European Commission's attempts to disclose the beneficiaries of tax rulings. It had even taken the information injunction to the EU Court of Justice. This has now...more

Disclosure Of Confidential Version Of European Commission Decision In Follow-On Claim

In relation to a follow-on private damages action arising from an air freight cartel, the High Court recognised that when a European Commission cartel decision is disclosed, the ‘Pergan’ principle gives certain protections to...more

European Competition Law Newsletter – January 2015

On 26 November 2014, the EU General Court (GC) (the EU’s second-highest court) upheld a EUR2.5 million fine imposed by the European Commission (EC) for obstructing an EC dawn raid. The case shows the crucial importance of...more

Article 29 Working Party Adopts Procedure on Approval of Model Clauses

On 26 November 2014, the Article 29 Working Party adopted a working document on establishing a cooperation procedure for issuing common opinions on whether contractual clauses are compliant with the European Commission’s...more

Where next for EU climate change policy? From Lima to Paris

2014 ended with a number of significant developments affecting EU climate change policy. In October 2014, the EU agreed on its 2030 ‘Climate and Energy Goals’ and, in the same month, the European Commission (“Commission”)...more

Lupin Appeals Fine Imposed by European Commission in “Pay-For-Delay” Crackdown

In July of this year, the European Commission imposed fines on French pharmaceutical company Servier and five generic drug makers, including Lupin Ltd., totaling €427.7 million. The fines were the result of a five-year...more

AIFM Directive – Latvia, Poland and Spain Warned by European Commission for Failing to Fully Implement New Investment Fund Rules

On November 26, the European Commission (Commission) issued a press release stating that it has sent formal requests to Latvia, Poland and Spain to provide it with notification of the measures each country has taken to fully...more

DG COMP’s 5th monitoring report: time for guidance please!

DG Competition of the European Commission just published its 5th patent monitoring report. It covers patent settlements entered into in 2013. Each year, the Commission claims that the report shows a “steady increase” of...more

EU Short Selling – Sovereign Debt

The Council of the European Union has, on 1 December 2014, published a provisional version of a press release announcing its decision not to object to the adoption by the Commission of a regulation on the notification of...more

Financial Regulatory Developments Focus - December 2014

In this issue: - Bank Prudential Regulation & Regulatory Capital - Derivatives - Financial Market Infrastructure - Financial Services - Funds - Recovery & Resolution -...more

European Commission Extends Deadline for the CRR

On November 14, the European Banking Committee (Committee) of the European Commission (EC) voted to extend the December 15 transitional deadline under the EU Capital Requirements Regulation (CRR). If the extension had not...more

Corporate and Financial Weekly Digest - Volume IX, Issue 46

In this issue: - US Court of Appeals for the District of Columbia Circuit Grants Petition for Rehearing of Decision on Conflicts Minerals Rule - Register for Our 2015 Proxy Season Update Webinar - SEC...more

OECD/G20 Base Erosion and Profit Shifting Project

On September 16, 2014, the Organisation for Economic Cooperation and Development (“OECD”) released seven reports addressing certain aspects of the base erosion and profit shifting (“BEPS”) project. The seven BEPS reports...more

EU Antitrust Damages Directive: Opening the Floodgates to Claims or a Damp Squib?

The Council and European Parliament have finally adopted a Directive on rules governing actions for damages under national law for infringements of competition rules (the "Directive"). EU Member States have two years to...more

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