JD Supra European Union
- Publisher:
- JD Supra
- Publication date:
- 2019-04-29
Publisher
- JD Supra (9511)
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Latest documents
- Implementation of the Markets in Crypto-assets Regulation (MiCAR): A Jurisdictional Comparison
With the Markets in Crypto-Assets Regulation (MiCAR) (Regulation (EU) 2023/1114) becoming fully applicable by the end of this year, crypto-asset service providers seeking to offer their services across the EU need to consider which jurisdiction is most suitable for them to file their CASP authorisation applications and the extent to which they can avail of national transition regimes. In this document, we set out a comparative guide across a few key jurisdictions, covering factors such as the national approach to implementing MiCAR in the context of CASP authorisation applications, and timing considerations.
- Great Fund Insights: ELTIF Regulation: consolidated text including ELTIF 2.0
The ELTIF-RTS, the final piece of the puzzle for the ELTIF framework, have been published in the Official Journal on October 25, 2024 and entered into force on October 26, 2024. This marks the end of a long and complex legislative process that started in May 2023 with the first draft RTS published by ESMA. To help fund practitioners navigate the evolving ELTIF landscape, our funds and asset management practice has prepared a consolidated version of the ELTIF Regulation, incorporating the ELTIF 2.0 changes in track changes and the relevant provisions of the ELTIF-RTS within the related ELTIF Regulation's articles. This tool will enable you to easily access and compare the different layers of regulation and understand their implications for your ELTIF projects.
- Regulatory monitoring - October 2024
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a speech by Olli Rehn, ESRB First Vice-Chair, on new frontiers in macroprudential policy. In the speech, Mr Rehn addressed three issues: (i) the ESRB’s 15-year record; (ii) key starting points for the forthcoming ESRB review; and (iii) new frontiers, especially dealing with non-banks and better use of data and analysis. Regarding the EC’s upcoming review of the ESRB, Mr Rehn explains that the ESRB will not take a formal position on its founding regulation, although it does believe it is important that co-legislators have the opportunity to benefit from the experience of those involved in the work of the ESRB. As such the ESRB has set up a High Level Group to identify which adjustments to the mission or framework of the ESRB might be required and provide its insights to the EU co-legislators before the review process.
- Regulatory monitoring: EU version Newsletter - October 2024
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a speech by Olli Rehn, ESRB First Vice-Chair, on new frontiers in macroprudential policy. In the speech, Mr Rehn addressed three issues: (i) the ESRB’s 15-year record; (ii) key starting points for the forthcoming ESRB review; and (iii) new frontiers, especially dealing with non-banks and better use of data and analysis. Regarding the EC’s upcoming review of the ESRB, Mr Rehn explains that the ESRB will not take a formal position on its founding regulation, although it does believe it is important that co-legislators have the opportunity to benefit from the experience of those involved in the work of the ESRB. As such the ESRB has set up a High Level Group to identify which adjustments to the mission or framework of the ESRB might be required and provide its insights to the EU co-legislators before the review process.
- AIFMD: Consolidated text including AIFMD II changes
The amendments to the EU Alternative Investment Fund Managers Directive ("AIFMD II") were published in the Official Journal of the European Union on 26 March 2024, and came into force on 15 April 2024. As part of our Great Fund Insights, we have produced a Level 1 and Level 2 consolidated version of the EU Directive 2011/61/EU ("AIFMD"), as amended by the AIFMD II and other EU legislation (this includes legislation brought in by the Securitisation Regulation, the Cross Border Funds Directive and the SFDR).
- Gender diversity on corporate boards - 2024
What to expect from the new EU Women on Boards Directive, including the practical changes for your management structure and the impact on the national legislation of each Member State. Women continue to be significantly under-represented on the boards of directors of companies in every Member State within the European Union and the United Kingdom. In recent years, more and more European countries have introduced statutory gender quotas to balance gender on company boards. The progress year-on-year has, however, been rather slow. The legal provisions in those countries introducing quotas can differ greatly, particularly with regard to sanctions for failure to comply with a quota.
- COMPLYING WITH CS3D - Overlooking environmental concerns is a high-risk strategy
BACKGROUND - The incorporation of complex environmental and climate impacts from business operations and supply chains into human rights impact assessments and governance models is proving to be a major challenge for businesses. Uncertainty about the precise scope of obligations to assess such impacts has meant that companies are struggling to assess environmental and climate impact in a systemic way, which exposes businesses to future liability under the Corporate Sustainability Due Diligence Directive (the “CS3D” or “Directive”). There are notable exceptions – we have seen examples of cement manufacturers, food and beverages companies and forestry companies demonstrate a clear understanding of the environmental dimension, or “lens”, but more generally, businesses need to gear up now to ensure they have in place defensible compliance strategies.
- Life Sciences: What's new in Europe?
The Servier case: The game isn’t over yet - The European Court of Justice recently issued seven judgments in the landmark "Servier" case, confirming the anticompetitive nature of "pay-for-delay" agreements between originator and generic companies. However, the case is not fully resolved, as part of it was referred back to the General Court. This decision underscores the strict scrutiny of anticompetitive practices in the pharmaceutical industry and its impact on market strategies.
- 2024 European Employer Survey Report - October 2024
Executive Summary- As Europeans across the continent head to the ballot box in a contentious election year, employers are navigating numerous challenges—from potential employment law changes to managing divisive political beliefs in the workplace to heightened pressure on environmental, social, and governance (ESG) initiatives. These developments come against a backdrop of ongoing economic uncertainty, new regulatory risks, and the rapid adoption of artificial intelligence (AI) in the workplace.
- Regulatory monitoring: EU version Newsletter - September 2024
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EC: Report on the future of European competitiveness Status: Final - The EC has published a report on the future of European competitiveness, prepared by Mario Draghi, former President of the ECB. The report aims to set out a new industrial strategy for Europe to overcome barriers to the EU’s competitive strength. It sets out priority proposals in the short and medium term in key strategic sectors. For financial regulation, the report focuses on the completion of the Capital Markets Union and the Banking Union.
Featured documents
- ESMA Publishes Responses to CESR's Call for Evidence on AIFMD Implementing Measures
On January 18, the European Securities and Markets Authority (ESMA) published the responses to the Committee of Securities and Regulators’ (CESR) December 2010 call for evidence on the Alternative Investment Fund Managers Directive (AIFMD) implementing measures. (ESMA replaced CESR on January 1,...
- European IP Bulletin - Issue 80, May 2011
PATENTS: Pilot Drilling Control Ltd v Smith International Inc: UKIPO Refuses Request for Confidentiality In Pilot Drilling Control Ltd v Smith International Inc BL O/046/11, the UK Intellectual Property Office (UKIPO) has refused a request for confidentiality in respect of proceedings...
- ESMA Releases Consultation Paper on High Frequency Trading
The consultation paper (entitled Consultation on the Guidelines on systems and controls in a highly automated trading environment for trading platforms, investment firms and competent authorities) sets out ESMA’s proposals for detailed guidelines for trading platforms, investment firms and...
- European IP Bulletin - Issue 83, August/September 2011
In This Issue: Article 29 Working Party Opinion On The Definition of Consent: An Unambiguous View of The Future; Ranbaxy v AstraZeneca: Skilled Persons; The Money Saving Expert Protects Distinctive Trade Marks; Fashion Designer Allowed to Prevent Use of Name Despite Selling All Rights;...
- MiFID II — How It Affects Proprietary Traders and Algorithmic Traders
The European Commission’s final draft proposals for the revised Markets in Financial Instruments Directive (MiFID II) along with a related regulation (MiFIR) were published 20 October 2011. The objective of the original MiFID, which was passed in 2004 and came into force in 2007, was to improve...
- The Disclosure of Leniency Documents: Confidential Documents Still Protected
On 15 December 2011, the EU General Court ruled that the European Commission should have disclosed the index from a cartel investigation to Cartel Damages Claims (CDC), a company bringing a collective damages action against the cartel defendants. The decision, which is likely to be lauded by...
- REGULATORY: Natural resources and keeping your head above water in the EU
Regulatory and competition issues are at the top of the business agenda for natural resources, energy, and multi-utility companies active in the EU. Despite regulatory convergence in some areas (e.g., unbundling and cost of capital), there remain a variety of sector-specific issues. ...
- Financial Services Europe and International Update - March 2012, Issue 4
Regulatory Developments This update summarises current regulatory developments in the European Union and the UK focusing on the investment funds and asset management sectors, during the past three weeks. EU Regulatory Developments p1 EMIR Update p2 Proposed Regulation on Central ...
- EU expands sanctions against Syria - prohibits supply of more products which could be used for internal repression and bans sale, supply, transfer or export of luxury goods to Syria
On 23 April 2012, the Council of the European Union (EU) agreed to impose additional restrictive measures against Syria in Council Decision 2012/206/CFSP. This new set of sanctions amends Decision 2011/782/CFSP and follows numerous other sanctions. The new restrictions, applicable as of 23...
- European Parliament Adopts Legislative Resolution on Financial Transaction Tax
On 23 May 2012, the European Parliament approved an amended version of the European Commission’s proposal of 23 September 2011 for a Council Directive on a common system of financial transaction tax (FTT). The Resolution states that such a FTT should go ahead even if only some member states would...