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Subsidiaries European Union

Latham & Watkins LLP

European Commission Publishes FAQs on EU Corporate Sustainability Reporting Directive

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The FAQs aim to clarify key aspects of the CSRD, including the scope of the rules, compliance dates, and exemptions. On 7 August 2024, the European Commission (Commission) published a set of frequently asked questions...more

Latham & Watkins LLP

EU Introduces “Best Efforts” Requirement for Non-EU Subsidiaries Not to Undermine EU Sanctions Against Russia

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The EU’s 14th “package” of sanctions against Russia introduces anti-circumvention measures targeting the non-EU subsidiaries of EU entities and creates new restrictions, including on LNG. This Client Alert is published in...more

King & Spalding

The New EU Corporate Sustainability Reporting Directive: What Does It Mean For Non-EU Companies?

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The new EU Corporate Sustainability Reporting Directive (“CSRD”) is set to revolutionize ESG reporting for companies around the world. Certain large EU companies are already conducting double materiality assessments and...more

Sheppard Mullin Richter & Hampton LLP

The EU Foreign Subsidies Regulation: New Rules for All Companies Active in the EU

On 12 July 2023, the new EU Foreign Subsidies Regulation (“FSR”) started applying to all non-EU and EU companies and all sectors of the economy. FSR filled a regulatory gap which existed since 1958. The European Commission...more

Hogan Lovells

Doing business in Italy 2023

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This booklet has been written specifically for business individuals and whilst it may be of interest to their local advisers, such as lawyers or accountants, the information is intended for a wider audience. We cover topics...more

K&L Gates LLP

The Sumal Case or the Liability of Subsidiaries

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On 6 October 2021, the Court of Justice of the European Union (CJEU or the Court) issued a judgment in case C-882/19 following a request for a preliminary ruling by the Court of Appeal of Barcelona (the Referring Court). ...more

K&L Gates LLP

Brussels Regulatory Brief: October - November 2021

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ANTITRUST AND COMPETITION - The EU General Court Upheld the Commission’s Fines for Gun Jumping - On 25 February 2015, a French telecom company notified to the Commission (its proposed acquisition of a Portuguese multimedia...more

Barnea Jaffa Lande & Co.

Implications of European Whistleblower Protection Directive on Israeli Companies

By October, companies in the European Union employing at least 50 employees will be required to operate an internal reporting system for reporting misconduct that may indicate compliance violations. Furthermore, all companies...more

Morgan Lewis

Corporate Parents, Beware in France: One Can Be Liable for Another’s Doing

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France’s highest Court (Cour de Cassation) recently ruled that an acquiring entity, in this case Iron Mountain, could be found liable for violations committed by the target, here Recall France, before the transaction. ...more

Goodwin

Luxembourg: The EU Parent Subsidiary Directive And Gibraltar

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On 1 December, 2020, the Luxembourg tax authorities issued circular L.I.R 147/2, 166/2 and eval. n°63 on the application of EU Directive 2011/96 on the common system of taxation applicable in the case of parent companies and...more

K&L Gates LLP

Brussels Regulatory Brief: November 2020

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ANTITRUST AND COMPETITION  - The Court of Justice of the European Union Reinforces the European Commission’s Strict Approach on Parental Liability for Antitrust Breaches of Subsidiaries  - On 28 October 2020, the Court of...more

Kramer Levin Naftalis & Frankel LLP

French Competition Authority Overturns Its Decision-Making Practice: Coordination Between Subsidiaries in Calls for Tenders Is No...

According to the decision-making practice of the French Competition Authority (FCA), the coordination between subsidiaries of the same group when submitting coordinated but apparently independent offers in public tenders was...more

Kramer Levin Naftalis & Frankel LLP

Cartels — Presumption of Decisive Influence by the Parent Company on Its Subsidiaries and Solidarity for the Payment of the...

On Oct. 28, 2020, the European Court of Justice ruled on one of the aspects of the proceedings relating to the power cable cartel, for which the main European, Japanese and South Korean manufacturers were fined a total of...more

White & Case LLP

EU General Court strikes a blow to Commission approach to fiscal State aids in the Apple tax case

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The General Court has upheld a challenge to a 2016 Commission decision that had required Ireland to recover €13.2 billion in illegal State aid from Apple, on account of alleged preferential tax treatment for the...more

A&O Shearman

European Commission Expands Arsenal to Curtail Foreign Subsidies

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On June 17, 2020, the European Commission published its highly anticipated White Paper detailing its “anti-subsidy tool,” aimed at rectifying supposed distortions in the EU caused by foreign subsidies. Stakeholders have until...more

BCLP

A rag-bag of changes to UK money laundering regulations

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UK regulations implementing the EU 5th Money Laundering Directive (“5MLD”) came into force on 10 January 2020: the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (“MLR 2019”). The regulations make a...more

WilmerHale

Second Circuit Confirms Extraterritorial Reach of Section 1782 and Clarifies Jurisdictional Requirements

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A recent Second Circuit decision provides important guidance on the scope and application of Section 1782, the expansive discovery provision that authorizes district courts to compel parties in the United States to provide...more

Jones Day

Turbulence Across the Pond: United States and EU Trade Tariff Threats Over Subsidies

Jones Day on

The Situation: The U.S. government proposed a preliminary list of European goods potentially subject to additional tariffs under Section 301 of the Trade Act of 1974 ("Section 301"). Also, the European Union ("EU") proposed a...more

McDermott Will & Emery

CJEU Rules on Parent-Subsidiary & Interest and Royalties Directives Anti-abuse Clauses

On February 26, 2019 the Court of Justice of the European Union (CJEU) issued the long-awaited judgments on the cases concerning the Danish government withholding tax on dividends and interest paid by Danish companies to...more

White & Case LLP

Brexit preparedness for financial services: the German response

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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

White & Case LLP

2018 Half-year in review: M&A legal and market developments

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We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2018 and their impact on M&A transactions. This review looks at these...more

Dechert LLP

Brexit Preparations for Private Equity Firms

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The Current Status of Brexit - On 29 March 2017 the United Kingdom (UK) gave notice under Article 50 of the Treaty on the European Union that it intended to leave the European Union (EU). The UK’s departure (so-called...more

Latham & Watkins LLP

Tax Exemption Offers Relief in the German Restructuring Market

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German legislator introduces tax exemption for income resulting from debt waivers in restructuring scenarios with retroactive effect. On 23 November 2018, the German legislator approved legislation regarding tax exemption...more

Bracewell LLP

International Sanctions and the Energy Sector – Part 2: Russia

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In the first part of this three part series we considered the impact of President Trump’s decision to re-impose sanctions on Iran’s energy sector with effect from 5 November 2018. However, Iran is not unique. Other nations...more

Dechert LLP

Global Private Equity Newsletter - Fall 2018 Edition: EU General Court: Financial Investors Liable for Anticompetitive Conduct of...

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The General Court of the European Union recently held, in Goldman Sachs v. Commission, that purely financial investors such as investment funds may be held jointly and severally liable for competition law violations...more

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