News & Analysis as of September 22, 2024

European Union › Guidance Update

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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 WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

EU Publishes Groundbreaking AI Act, Initial Obligations Set to Take Effect on February 2, 2025

Ogletree, Deakins, Nash, Smoak & Stewart,... on 7/22/2024

On July 12, 2024, the European Union published the language of its much-anticipated Artificial Intelligence Act (AI Act), which is the world’s first comprehensive legislation regulating the growing use of artificial...more

Key antitrust findings - May 2024

A&O Shearman on 6/6/2024

This newsletter is a summary of the antitrust developments we think are most interesting to your business. David Higbee (Global Head of Antitrust) and Dominic Long (Global Deputy Head of Antitrust) are our editors this month....more

EU sanctions update: Guidance published on the 'No Russia Clause'

Walkers on 3/4/2024

The EU has continued to tighten economic sanctions against Russia in recent months with the introduction of the 12th sanctions package on 18 December 2023 and the 13th sanctions package on 24 February 2024. Of particular...more

The European Commission’s Revised Market Definition Notice: A New Approach to Digital Markets

Skadden, Arps, Slate, Meagher & Flom LLP on 2/16/2024

On February 8, 2024, the European Commission (EC) adopted a revised Market Definition Notice (revised Notice). The revised Notice confirms the EC’s and EU courts’ existing approach to understanding dynamic and innovative...more

What You Need to Know About the Amendments to VAT in Para-Hotel Business

BCLP on 10/20/2023

The government has just issued an amendment n°5374 to the draft Finance Bill for 2024 aimed at clarifying the VAT regime applicable to the para-hotel and serviced residences sector, following the Administrative Supreme Court...more

EC Issues Revised Guidelines on Agreements Between Competitors: 10 Key Takeaways

WilmerHale on 7/31/2023

On June 1, 2023, the European Commission (EC) adopted revised Horizontal Guidelines (HGs) and two updated block exemption regulations (BERs) on research and development (R&D) and “specialisation” agreements. These materials...more

OECD Updates Corporate Due Diligence Guidelines

Latham & Watkins LLP on 6/27/2023

The Guidelines build on current social, environmental, and technological issues facing businesses following the last update in 2011. The Organisation for Economic Co-operation and Development (OECD) released updated...more

Updated EU Data Transfers Guidance

BCLP on 3/17/2023

The updated guidelines (05/2021) from the European Data Protection Board (“EDPB”) issued on 14 February 2023 (the “New Guidelines”) look at the interplay of two fundamental, protective mechanisms contained in the EU GDPR....more

G7 Nations Set Two Additional Price Caps Related to the Maritime Transport of Petroleum Products of Russian Origin

Foley Hoag LLP on 2/13/2023

In order to continue restricting Russia’s ability to finance war efforts against Ukraine, on February 3, 2023, the G7 nations implemented two new price caps on seaborne petroleum products that originate in Russia (“Russian...more

UK-Listed Issuers Under Financial Stress Gain Latitude in Secondary Capital Raisings

Skadden, Arps, Slate, Meagher & Flom LLP on 12/14/2022

As the U.K. faces what the Bank of England recently described as “very challenging” times, with the possibility of the U.K.’s “longest recession since records began,” issuers listed on the London Stock Exchange should pay...more

Revised EU “Blue Guide” on product rules zooms in on e-commerce, modifications/repairs, assembling, software and Brexit

White & Case LLP on 8/19/2022

On 29 June 2022, the European Commission revealed its updated Blue Guide on the implementation of product rules in the EU. This contains some important changes, reflecting current market surveillance rules, and fills some...more

Fintech Legal Report - August 2021

Perkins Coie on 9/2/2021

Senators Inquire about CFPB’s Fintech Agenda - On July 27, 2021, Senator Sherrod Brown, the Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to the Consumer Financial Protection...more

US, EU Issue Guidance on Expectations for Due Diligence to Address Forced Labor Risks

BCLP on 8/13/2021

On July 13, 2021, the US Department of State, US Department of the Treasury, US Department of Commerce, US Department of Homeland Security, Office of the United States Trade Representative, and US Department of Labor issued...more

noyb Takes Aim at “Cookie Banner Terror” While CNIL Enforces Cookie Guidelines

Perkins Coie on 7/2/2021

Last month, the European Center for Digital Rights (more commonly known as None of Your Business or “noyb”) launched a new campaign against the use of allegedly unlawful cookie banners by sending nearly 600 draft complaints...more

Revised Merger Assessment Guidelines Codify UK Interventionist Approach to Dynamic Markets

Skadden, Arps, Slate, Meagher & Flom LLP on 4/19/2021

The U.K.’s Competition & Markets Authority (CMA) has released new merger assessment guidelines that confirm the U.K. regulator’s intensified approach to merger control.1 The guidelines largely codify the CMA’s recent output,...more

UK Tax Round Up - April 2020

Proskauer Rose LLP on 5/12/2020

Temporary changes to the statutory residence test for inbound COVID-19 workers - The UK Chancellor has written to the chair of the Treasury Select Committee outlining temporary changes to the statutory residence test...more

FDA Issues Updated Guidance on Clinical Trial Conduct during the COVID-19 Pandemic

Bass, Berry & Sims PLC on 4/1/2020

Earlier this month the FDA issued guidance listing general factors for study sponsors to take into consideration to assure the safety of clinical trial participants, maintain a good clinical practice, and minimize risks to...more

Importance of conformity to international tax standards – Cayman Islands added to the EU blacklist of non-cooperative...

BCLP on 2/26/2020

The EU’s Economic and Financial Affairs Council (ECOFIN) maintains a list of non-cooperative jurisdictions for tax purposes; the purpose of which is to contribute to ongoing efforts to promote tax good governance worldwide....more

Revised EU Guidelines on Fraud Reporting Under the Payment Services Directive Published

A&O Shearman on 2/6/2020

The European Banking Authority has published amendments to the 2018 Guidelines on fraud reporting under the revised Payment Services Directive (known as PSD2). The Regulatory Technical Standards on "strong customer...more

GDPR Guide to National Implementation: Cyprus - A practical guide to national GDPR compliance requirements across the EEA

White & Case LLP on 11/27/2019

Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? New legislation has been passed. ——— (b) Relevant legislation includes: ...more

Interactive Counsel Newsletter: Privacy Report: FBI Issues Updated Ransomware Guidance

ArentFox Schiff on 11/21/2019

FBI Issues Updated Ransomware Guidance - A recent report from New Zealand-based cybersecurity firm Emsisoft has revealed the extent to which ransomware is being used in cyberattacks in the United States. The first 9 months...more

GDPR Guide to National Implementation: Belgium - A practical guide to national GDPR compliance requirements across the EEA

White & Case LLP on 11/18/2019

Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? New legislation has been passed. ———...more

GDPR Guide to National Implementation: Austria - A practical guide to national GDPR compliance requirements across the EEA

White & Case LLP on 11/15/2019

Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? Old legislation has been updated. ——— (b) Relevant legislation...more

Revised EU Guidelines on Stress Testing of Money Market Funds Published

A&O Shearman on 8/5/2019

Following its consultation in late 2018, the European Securities and Markets Authority has published final reports and updated guidelines on stress testing money market funds and the requirements imposed upon MMFs to report...more

Final EU Guidelines on EU Credit Rating Agency Disclosure Obligations and Advice on Sustainable Finance in the Credit Rating...

A&O Shearman on 8/2/2019

The European Securities and Markets Authority has published two documents relating to sustainable finance in the credit rating sector. The first document is technical advice for the European Commission, responding to the...more

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European Union › Guidance Update

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