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European Commission European Union Proposed Amendments

Goodwin

The European Parliament Adopts Position on the European Commission’s Proposal for the First Major Overhaul of the EU Medicines...

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In April 2023, we published an alert in relation to two European Commission legislative proposals: new Regulation 2023/0131 and new Directive 2023/0132, to replace the current EU regulatory framework for all medicines...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - July 2023

In this month’s Privacy & Cybersecurity Update, we examine the newly established data privacy framework between the EU and U.S. and new consumer privacy laws in Oregon and Texas. We also review a court ruling that delayed...more

Hogan Lovells

EU Council's position on the proposed revision of EU product liability law

Hogan Lovells on

The Council of the European Union ("Council") adopted its position on the European Commission's Proposal for a Directive on liability for defective products ("PLD Proposal") and suggested several changes to the initial draft...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU’s Proposed Revisions to the Payment Services Directive, and How They Compare to the UK’s Approach

On 28 June 2023, the European Commission (EC) published its proposals for both a revised Payment Services Directive (PSD3) and a new accompanying Payment Services Regulation (EU PSR). This package of reforms addresses certain...more

Latham & Watkins LLP

European Commission Eases Requirements in European Sustainability Reporting Standards Consultation

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The Commission issued its formal consultation on the ESRS with a number of proposed changes. On 9 June 2023, the European Commission (Commission) issued its formal consultation on the European Sustainability Reporting...more

Latham & Watkins LLP

European Commission Proposes Wide-Ranging Enhancements to Retail Investor Protection Rules

Latham & Watkins LLP on

As the “most ambitious legislative proposal since the inception of EU financial regulation”, the changes would make significant amendments to MiFID II and PRIIPs. On 24 May 2023, the European Commission (Commission)...more

Dechert LLP

Upcoming Regulatory Initiatives Impacting Private Fund Managers - September 2022

Dechert LLP on

This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more

Goodwin

European Commission Outlines Proposals For AIFMD 2

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As the Alternative Investment Fund Managers Directive (“AIFMD”) was being developed prior to 2011, there were serious concerns across the funds industry that it might force managers to set up their funds offshore to avoid the...more

A&O Shearman

European Commission unveils surprise amendment to In Vitro Diagnostics Regulation

A&O Shearman on

The European Commission has responded to pressure from the medical devices industry and has proposed an amendment to the In Vitro Diagnostics Regulation (“IVDR”, Regulation 2017/746) to introduce amended transitional...more

White & Case LLP

EU moves to expand rights for environmental NGOs to challenge acts on environmental grounds

White & Case LLP on

The European Commission has published a proposal to revise the EU's Aarhus Regulation that, if adopted, would expand the possibilities for NGOs to challenge EU administrative acts and omissions on the basis that they...more

White & Case LLP

Commission gives a sneak peek at what the future may hold for distribution agreements

White & Case LLP on

The Vertical Block Exemption Regulation (VBER) is at the heart of the antitrust assessment of many distribution agreements and other types of vertical arrangements. In force for more than 10 years already, the current VBER...more

Dechert LLP

ESG Snapshot: Overview of the ESG Driven Amendments to AIFMD and the UCITS Directive

Dechert LLP on

What is the law/regulation? As part of a number of regulatory initiatives being implemented in the European Union, under its action plan for financing sustainable growth, proposed amendments to AIFMD  and the UCITS Directive...more

Latham & Watkins LLP

European Commission Proposes Changes to MiFID II Due to COVID-19

Latham & Watkins LLP on

Many of the wide-ranging amendments address the perceived barriers MiFID II introduced in capital markets and are likely to be welcomed by industry. Key Points: ..The amendments aim to remove administrative burdens that...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest Featuring Article on Proposed Changes to Regulation S-K and an Update on EU Equivalency

SEC/CORPORATE – SEC Proposes to Modernize Business, Legal Proceedings and Risk Factor Disclosures Required by Regulation S-K – On August 8, the Securities and Exchange Commission proposed amendments to modernize the...more

A&O Shearman

EU Equivalence for Australian and Singaporean Benchmarks

A&O Shearman on

Two equivalence decisions under the EU Benchmark Regulation have been published in the Official Journal of the European Union. The first decision declares as equivalent to the EU regime the legal and supervisory framework of...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest, Featuring Articles on the Latest CFTC Proposals for Swap Margins, Non-US Clearing...

BROKER-DEALER - CBOE Proposes Amendments to Rule 6.49A Concerning Off-Floor Position Transfers Including RWA Transfers - CBOE Exchange, Inc. (CBOE) recently filed a proposal to amend its Rule 6.49A to amend provisions...more

White & Case LLP

Brexit preparedness for financial services: the German response

White & Case LLP on

The House of Commons recently rejected the Withdrawal Agreement. While the UK Parliament is still debating how to leave the EU, a hard Brexit remains an option. To prepare for this possibility, the UK, EU Commission and EU27...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - December 2018

In this month's edition of our Privacy & Cybersecurity Update, we examine the European Commission's second annual review of the Privacy Shield and the Department of Commerce's guidance on how to comply with the Privacy Shield...more

A&O Shearman

Proposed Exemption From the EU Clearing Obligation for OTC Derivatives Novated to EU Counterparties in Preparation For a "No Deal"...

A&O Shearman on

The European Securities and Markets Authority has proposed the introduction of a 12-month exemption from the clearing obligation to facilitate the novation of uncleared OTC derivative contracts to EU counterparties in the...more

A&O Shearman

European Commission Communication on Proposed Amendments to Technical Standards on Systematic Internalisers' Quote Rules

A&O Shearman on

The European Commission has published a Communication (dated August 10, 2018) on proposed amendments by the European Securities and Markets Authority to a Regulatory Technical Standard, known as "RTS1," supplementing the...more

A&O Shearman

European Commission Proposes draft "CRD5" among various EU Banking Sector Legislative Amendments 

A&O Shearman on

The European Commission published a package of proposed legislative amendments in relation to the Bank Recovery and Resolution Directive, the Single Resolution Mechanism Regulation, the Capital Requirements Regulation and the...more

A&O Shearman

European Commission Proposes Amended Rules for Margin for Uncleared Swaps 

A&O Shearman on

The European Commission published regulatory technical standards on margin for uncleared swaps and a letter to the European Supervisory Authorities notifying them of the Commission's intention to endorse (with amendments) the...more

Goodwin

EU Proposal to Address Virtual Currency Exchanges & Wallet Providers in Anti-Money Laundering Laws

Goodwin on

The European Commission recently published a proposal to amend the Fourth Anti-Money Laundering Directive, the legislation that specifies the anti-money laundering, or AML, and counter terrorist financing rules for EU Member...more

Orrick - Finance 20/20

EBA Amends Historical Look-Back Approach Method for Calculating Additional Collateral Outflows

Orrick - Finance 20/20 on

On May 3, 2016, the European Banking Authority (EBA) issued an opinion to the European Commission supporting the Commission’s proposed amendment to the historical look-back approach (HLBA) methodology used in the draft...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

SEC Proposes to Amend Rules Governing Its Administrative Proceedings - On September 24, the U.S. Securities and Exchange Commission (the "SEC") proposed to amend rules governing its administrative proceedings. Key...more

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