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JD Supra European Union › Bryan Cave Leighton Paisner
251 results for JD Supra European Union › Bryan Cave Leighton Paisner
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Competition and Distribution Law Newsletter – BCLP Paris January 2021
The Competition and Distribution team of BCLP's Paris office reviews some key news from the end of 2020, in particular: ..The “Dammann Frères” decision of 3 December 2020 concerning the tea manufacturer's online sales practices. The French Competition Authority (the "FCA") vigorously emphasises that the prohibition of fixed prices also applies to online sales. The FCA also...
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Remuneration Code changes now in force - What do you need to know?
Amendments have been made to the FCA’s Dual-Regulated firms Remuneration Code under SYSC 19D and the Remuneration Part of the PRA Rulebook (together the “Remuneration Codes”) to implement the remuneration aspects of the EU Capital Requirements Directive V (“CRD V”). CRD V builds on CRD IV and introduces additional measures to reduce risks in the banking sector, including amending the requirements
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The Share Trading Obligations – A New Year’s Mess
Diverging approaches to Share Trading Obligations from the FCA and ESMA pose challenges for investment firms in a post-Brexit Europe. With 1 January 2021 creeping closer and the hope of securing an effective Brexit deal seemingly drifting ever further away, there is continued ambiguity when it comes to the future of financial services across Europe.
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The European Commission Goes Big Against Big Tech
On 15 December 2020, the European Commission released two much anticipated proposals for new regulations governing conduct in the digital space – the Digital Markets Act (“DMA”) and the Digital Services Act (“DSA”). These proposals underscore the leading role the Commission, particularly under current Vice President Margrethe Vestager, is looking to play in connection with how...
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BCLP Paris – Competition and Distribution Newsletter – December 2020
This Newsletter of the Competition and Distribution team of BCLP's Paris office features some of the key developments of the last quarter. In this newsletter: ..To enable national authorities to better apprehend killer acquisitions, the European Commission (the "Commission") announces the “return” of Article 22 of the European Merger Regulation; ..As part of the...
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European Chemicals Agency SCIP Database is launched and ready for use
At the end of October, the European Chemicals Agency (ECHA) launched the SCIP database. When populated, the database will ensure that information on articles in the EU that contain substances of very high concern (SVHCs) is widely available.
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Bound by prior admissions: Court of Appeal upholds the CAT’s abuse of process judgment against Truck Cartelists
The Court of Appeal has strongly dismissed an appeal against the Competition Appeal Tribunal’s (“CAT’s”) decision that it would be an abuse of process for certain truck manufacturers to seek to challenge the facts recorded in the Trucks Cartel Settlement Decision in follow on damages actions save for in certain limited circumstances. The Court of Appeal’s Judgment is likely to have...
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European Commission consults on AIFMD: the long list
The European Commission (the Commission) has published its long-awaited Consultation on AIFMD. It covers a range of subjects, under the broad headings of authorisation/scope, investor protection, international relations, financial stability, investment in private companies, sustainability/ESG and miscellaneous. Crafted as a series of questions, in both multiple choice and open format (including...
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EU M&A Regulation is getting tougher – what you need to know in 2020 and beyond
The COVID-19 pandemic has made 2020 a difficult year for many companies looking to do deals. Competition agencies and other government regulators have in many cases slowed down their timeframes or even refused to accept regulatory filings.
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Are you a controller, a processor or a joint controller? Should you care? New EDPB guidelines on this perennial data protection conundrum – Part 1
On 2 September 2020, the European Data Protection Board (“EDPB”) published draft guidelines on the concepts of controller, joint controllers and processor, which – as explained below - play a crucial role within GDPR compliance (the “draft Guidelines”). These are intended to update and replace decade old guidance and cover the “joint controller” concept brought in by the GDPR.
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ESMA publishes Guidelines on disclosure requirements under the Prospectus Regulation
ESMA has updated its CESR recommendations in line with the Prospectus Regulation and has taken this opportunity to clarify its expectations on key areas such as working capital statements and pro forma information. The ‘comply or explain’ principles will apply to the Guidelines and the Guidelines will come into force two months after they have been published on ESMA’s website in all the official
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Can Companies Record Customer Service Calls in the EU?
It depends on the country. Many EU countries have laws that address whether a company can record a call without obtaining the consent of the caller.
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EU-US data transfers dealt a setback – Privacy Shield struck down by EU’s highest court and SCCs subject to more scrutiny
The judgment by the Court of Justice of the European Union (CJEU) in the case known as “Schrems II” has far-reaching impact for businesses looking to ensure continuity of personal data flows between the EU and the US and other destinations. The EU’s data protection law – specifically the GDPR – restricts the export of personal data from the EU to countries which are not considered by...
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Are consumers in Europe more likely than consumers in the United States to “opt-in” to cookies?”
Yes. Most cookie banners can be classified into one of three general categories: (1) notice only banners, (2) notice + opt-out banners, and (3) notice + opt-in banners.
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M&A in the COVID-19 world and beyond – views from France, Germany and the United Kingdom
After a decade of relatively stable deal activity across Europe and globally, companies now find themselves operating in a new and evolving M&A environment. Transactional risk and disruption are the current norm, but against that backdrop of uncertainty, there are also opportunities. Distressed M&A has come back to the fore and we are starting to see interesting developments in deal...
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EU merger judicial review: where are we now after 02/Three?
For almost as long as EU merger control has existed, scholars and practitioners have discussed and debated the European Commission’s (EC) split roles as investigator, prosecutor, judge, and jury under the EU Merger Regulation (EUMR). It wasn’t until the EU courts overturned three EC prohibition decisions due to manifest errors in assessment in the early 2000s that the discussion shifted to the...
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DAC 6: Are you ready for the new EU reporting regime?
DAC 6 is a new regime under which intermediaries and/or taxpayers must report to an EU tax authority information about cross-border arrangements with a view to the information being exchanged with other EU tax authorities. The new regime will go fully live on 1 July 2020, but it will be back-dated to include cross-border arrangements in which the first step was taken on or after 25...
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European Commission's Review into AIFMD
The European Commission has published its long awaited report into the application and scope of AIFMD. The report is generally positive and concludes that overall AIFMD has been successful in meeting its objectives.
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Does the GDPR prohibit charging more to consumers that do not consent to certain types of processing?
Not necessarily. It is a common practice for controllers to charge consumers different amounts depending upon whether they consent to certain types of processing.
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UK Consumer Protection Update: How is the EU approaching consumer protection issues in 2020?
Prior to the Coronavirus outbreak, the European Commission was making substantial progress with its Digital Single Market strategy, aimed at ensuring better access to online goods and services by limiting barriers to e-commerce and access to online content. There are key deadlines this year by which EU Member States are to implement aspects of the Commission’s consumer protection strategy into...
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Can a company base the collection and processing of credit card information upon the performance of a sales contract?
Yes. The GDPR anticipates that a company may process personal data as long as one (or more) of six lawful purposes applies. One of those lawful purposes relates to the collection of personal data about a person as part of performing a contract with that person.
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What types of “interests” are sufficient to justify processing based upon the legitimate interests of a controller?
The GDPR prohibits a company from processing personal data unless one of six “lawful purposes” are present. One of those lawful purposes occurs when processing is necessary for a “legitimate interest pursued by the controller or by a third party.”
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What types of contractual provisions are required for different types of service providers under the GDPR?
The type of contractual provisions that a company is required by the GDPR to impose upon a service provider differ based upon two primary factors: (1) whether the service provider is a “processor,” a “controller,” or a “joint controller,” and (2) whether the service provider is located outside of the European Union and the parties intend to rely upon the Standard Contractual Clauses as an...
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DAC6 is a new EU disclosure regime that imposes mandatory reporting of certain cross-border arrangements
What is DAC6? DAC6 is a new regime under which intermediaries and/or taxpayers must report to an EU tax authority information about cross-border arrangements with a view to the information being exchanged with other tax authorities.
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EU Commission Issues Guidance on Use of Faster Procurement Processes in Light of COVID-19
On 1st April 2020 the Commission issued practical guidance in relation to how public bodies can use the provisions of the EU public procurement rules to source goods, services and works rapidly in response to the emergency situation caused by the Coronavirus outbreak. The guidance emphasises that “ the EU public procurement legislation already provides public buyers in the EU with the...
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Competition law in the time of COVID
The global COVID-19 pandemic is placing an unprecedented strain on healthcare systems around the world. At the same time, the knock on effects of the pandemic are hitting businesses and public authorities hard.
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Cross-border sales restrictions - lessons from Meliá
On 21 February 2020, the European Commission (the “Commission”) announced it had fined Spanish hotel group Meliá almost €6.7 million for restrictive clauses in its contracts with tour operators. The decision highlights the Commission’s ongoing targeting of unlawful restrictions on cross-border sales.
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The Evolution of E-Money: What Is In A Definition?
Electronic money or e-money has been subject to regulation in the EU since April 2002 when the first Electronic Money Directive 2000/46/EC (“EMD1”) established the regulatory framework. However, there have been difficulties ever since in interpreting and applying in practice the definition of e-money.
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The new standard for payment security is on its way with SCA
The new strong customer authentication (“SCA”) requirements under the Payment Services Directive (EU) 2015/2366 (“PSD2”) went live on 14 September 2019. While the new requirements apply only to payment service providers such as banks and non-bank payment processors, their implications will be felt by regulated and non-regulated businesses throughout the payment processing chain.
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Importance of conformity to international tax standards – Cayman Islands added to the EU blacklist of non-cooperative jurisdictions
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. On 18 February 2020 the Cayman Islands was added to the list, on the basis that it “does not have appropriate measures in place relating to economic substance in the area of...