The Development: On January 24, 2024, the European Commission ("EC") unveiled a package of five fresh initiatives aimed at strengthening the European Union's ("EU") economic security (the "Package"). This will likely increase...more
For in scope companies, disclosures may be required as early as the reporting period for the 2024 financial year. On 22 December 2023, the Commission Delegated Regulation specifying the first set of European...more
Following the lead of the European Union's taxonomy, Latin American and Caribbean ("LAC") countries are developing their own green taxonomies, seeking facilitation of capital flows toward sustainable activities and assets and...more
As the life sciences, medtech, and diagnostic industries continue to expand and grow increasingly complex, so does the legal, regulatory, and compliance landscape. To help companies and investors navigate the many evolving...more
On 17 May, the Bank of Italy published a public consultation on the supervisory guidelines for crowdfunding service providers to implement EU Regulation 2020/1503 on European crowdfunding service providers (“CSP”) for...more
The European Commission has launched a public consultation and a call for evidence seeking opinions on the EU’s intermediary climate targets for 2040. This is a scheduled step in the EU’s ambition to reach net-zero emissions...more
The Spanish Data Protection Authority has opened a public consultation process to obtain comments for an incoming decision establishing the rules for commercial communications via telephone. This decision will be binding upon...more
The UK government (the “Government”) has published proposals for a new regulatory framework for artificial intelligence (the “White Paper”). Its goal is to “provide a clear, pro-innovation regulatory environment” to make...more
On 30 March 2023, the United Kingdom Department for Energy Security and Net Zero (DESNEZ) and the UK Treasury opened a public consultation on policies to reduce carbon leakage risk and support decarbonisation, especially in...more
Key Points - On January 13, 2023, the OECD launched a public consultation process to gather comments from stakeholders regarding potential changes to its Guidelines for Multinational Enterprises. Stakeholders wishing to...more
As part of the Edinburgh Reforms announced by the UK Government (link back to “UK FS Reforms”), the UK Government has launched a public consultation on the VAT treatment of fund management. The consultation, published on 9...more
The Spanish government published last week the pre-draft bill of law on randomized reward mechanisms associated with interactive software products for entertainment (a subtle and technical way of referring to loot boxes in...more
The European Commission has launched a public consultation on its proposal to introduce a new common EU-wide system for withholding tax on dividend or interest payments. The consultation period will end on 26 June 2022....more
The EU Commission published a public consultation based on its initiative to introduce a common EU-wide system for withholding tax on dividend or interest payments, which includes a system for tax authorities to exchange...more
The consultations invite stakeholders’ views on the Environmental Liability Directive and the Waste Framework Directive. In May 2022, the European Commission (Commission) issued public consultations in relation to the...more
The European Commission (“EC”) gets started with its plans to improve toy safety in Europe with a Public Consultation leading the way to a new legislative proposal envisaged for Q4 2022. The new legislation is expected to put...more
The healthcare sector is a current focus of the French data protection authority (CNIL) which just published two draft standards regarding processing of personal data in the context of Early Access and Compassionate Access....more
The “right of access” recognized by art.15 GDPR is one of the most fervently exercised rights by individuals. Nowadays, where companies tend to amass considerable amounts of information and carry out data processing...more
According to the European Commission, freedom of expression (one of the pillars of democracy in Europe) is in jeopardy, as governments and private groups increase pressure on the media. The Commission is due to enact a draft...more
Key developments of interest over the last month include: In this Newsletter: For previous editions of the Global Payments Newsletter, please visit our Financial Services practice page. It is expected that the implementation...more
The EU Commission opened this afternoon the public consultation on the EU general pharmaceuticals legislation on medicines for human use. This initiative is part of the EU Pharmaceutical Strategy for Europe and calls on...more
The European Union and United Kingdom have each proposed modifications of their antitrust rules on distribution. The proposals diverge significantly on common distribution practices, creating legal challenges for distribution...more
On 18 June 2021, the European Data Protection Board (EDPB) and European Data Protection Supervisor (EDPS) issued a joint opinion on the European Union’s proposed AI Regulation, which was announced earlier this year....more
The Development - ..On 7 June 2021, the European Commission (EC) published a draft Communication on the “Guidelines on State aid for climate, environmental protection and energy 2022” (CEEAG) that will replace the 2014...more
On 5 May 2021, the European Commission ("Commission") issued a proposal for a far-reaching Regulation to tackle foreign subsidies, which, if adopted, will increase the regulatory risk for companies operating or investing in...more