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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

Know What You Don’t Know: New EU AML Directive Requires Stringent Third Party & Customer Due Diligence

Over the past couple of years, the European Commission has been working on updating its nine-year-old Third EU Anti-Money Laundering (AML) Directive to accommodate new international standards and to address previous...more

Update from UK Information Commissioner’s Office (ICO)

Will it happen? Well, “if it looks like a duck, swims like a duck and quacks like a duck then its probably a duck”. All the indications are that the Regulation will happen. We have to assume it will. This echoes the...more

EU Court Says Loyalty Discounts Betray Competition: Ruling Underlines U.S. Differences

Intel's use of loyalty discounts and rebates to computer manufacturers and other actions directed at competitor Advanced Micro Devices violated EU competition law, according to the European Union's (EU) General Court. The...more

Financial Regulatory Developments Focus - July 2014 #3

In this issue: - Derivatives - Compensation - Bank Prudential Regulation and Regulatory Capital - Recovery & Resolution - Credit Ratings - Insurance - Financial Services...more

European Commission's Actions to Better Protect and Enforce Intellectual Property Rights

Although the number of registrations of European Patents, Community Trademarks and Community Designs more than doubled between 2003 and 2012, the high numbers of infringements of intellectual property rights (IPRs) harm this...more

Timing and Scope of EU Clearing Obligation for Derivatives

The European Securities and Markets Authority is consulting on the mandatory clearing obligation for certain derivatives. Draft regulatory technical standards have been published for the mandatory clearing of certain interest...more

Shelter from the Coming Storm: Anti-Corruption Compliance in European Public Procurement

A red sky at morning is the traditional harbinger of ill weather. From our vantage point in Brussels, we’ve scanned the horizon for signs of the future of anti-bribery enforcement activity in Europe. We’ve identified four...more

Governance & Securities Law Focus: Latin America Edition

In this issue: - US DEVELOPMENTS - SEC Developments - PCAOB Adopts Auditing Standard and Amendments - Noteworthy US Securities Law Litigation - Recent SEC/DOJ Enforcement Matters...more

Governance & Securities Law Focus: Asia Edition

In this issue: - ASIAN DEVELOPMENTS - HKEx Publishes Revised Connected Transaction Rules - US DEVELOPMENTS - SEC Developments - PCAOB Adopts Auditing Standard and Amendments -...more

Financial Regulatory Developments Focus - July 2014 #2

In this issue: - Derivatives - Regulatory Capital - Recovery & Resolution - Financial Services - Consumer Protection - Enforcement - People - Events -...more

Export Controls in UK Offshore Centers

Many private equity and investment funds are organized as limited partnerships or companies of offshore entities. Similarly, companies may structure mergers and acquisitions by utilizing offshore holding entities. The British...more

EU Cloud Standardisation Guidelines

In November 2012, we wrote an Alert about the European Commission’s Communication on Cloud Computing intended, it said, to “… unleash the potential of cloud computing in Europe”. Sceptics were doubtful that the cloud...more

EC Posts Meeting Materials from Validation Workshop on Transparency Measures for Nanomaterials

The European Commission (EC) has posted materials from its June 30, 2014, validation workshop to discuss the preliminary results of the study supporting the impact assessment on transparency measures for nanomaterials. The EC...more

U.S. Steps Up Efforts to Make “Safe Harbor Safe Again” – FTC, Justice Department Work to Keep EU Happy and Avoid Pull Back from...

Within the span of two days, both the Federal Trade Commission (FTC) and the U.S. Department of Justice announced initiatives meant to assuage the European Union’s concerns over trans-Atlantic data flows and to secure...more

Brussels Regulation (Recast): Are You Ready?

This article looks at the concerns with Council Regulation (EC) 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (Brussels Regulation) and examines how far they are...more

EU Risk Retention Rules and CLOs – the Journey’s End?

Although the legislative process is now complete, the process of structuring CLO transactions to comply with the EU risk retention rules has just begun. The EU’s risk retention framework will come into effect next...more

Consortia block exemption extended by a further five years

Following a public consultation held earlier this year, the EU Commission has announced the extension of the block exemption providing antitrust immunity to certain cooperative agreements between shipping lines until 2020....more

Out Of The Extraordinary: The Court Of Appeal's Judgment In Huzar V Jet2.Com

Court of Appeal hands down judgment on the meaning of "extraordinary circumstances" in the case of cancellation or delay arising out of technical faults pursuant to EC Regulation 261/2004 - It is somewhat regrettable...more

EU Court Maintains Tough Stance Against Business Practices by Firms With Strong Market Power

On 12 June 2014, the European Union’s court of first instance, the General Court, in Intel v European Commission (Case T-286/09), condemned a number of Intel’s business practices, including loyalty rebates. The General...more

The General Court's Intel Decision—"Back to the Seventies"

On June 12, 2014, the General Court in Luxembourg upheld the European Commission's 2009 (record) fine of €1.06 billion against Intel for abusing its dominant position in the market for x86 CPU microprocessors by offering...more

European Commission Uses EU State Aid Rules Against Aggressive Tax Planning by Multinational Companies

EU Member States are prohibited from granting to companies selective advantages that qualify as State aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union (TFEU) without the prior...more

"Intel Loses Appeal Against European Antitrust Fine"

In a long-awaited judgment issued on June 12, 2014, the General Court upheld in its entirety the European Commission’s May 13, 2009, decision imposing a fine of €1.06 billion ($1.5 billion) on Intel for abusing a dominant...more

Orrick's Antitrust and Competition Newsletter - June 2014 (Global)

Opt-Out Antitrust Class Actions — A U.S. Perspective on the Consumer Rights Bill Pending in UK's Parliament - Will opt-out class actions proposed by the UK Parliament’s Consumer Rights Bill bring the dreaded U.S.-style...more

EU’s Top Court Rules Cartel Victims Can Claim Damages From Cartelists Despite No Contractual Link

In a landmark ruling, the EU’s top court, the European Court of Justice (ECJ) in Kone and Others C-557/12 of 5 June 2014, has held that, where a cartel causes competing companies to increase their prices, the members of the...more

Council of EU Publishes Compromise Proposal on ELTIF Regulation

On May 27, the Council of the EU published a compromise proposal (10215/14), dated May 23, 2014, in respect of the European Commission’s proposed Regulation on European Long-Term Investment Funds (ELTIF...more

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