JD Supra European Union › Bryan Cave Leighton Paisner

• JD Supra European Union

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...

• JD Supra European Union

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

• JD Supra European Union

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.

• JD Supra European Union

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...

• JD Supra European Union

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...

• JD Supra European Union

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.

• JD Supra European Union

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...

• JD Supra European Union

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...

• JD Supra European Union

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.

• JD Supra European Union

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.

• JD Supra European Union

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

• JD Supra European Union

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.

• JD Supra European Union

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...

• JD Supra European Union

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.

• JD Supra European Union

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...

• JD Supra European Union

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...

• JD Supra European Union

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...

• JD Supra European Union

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.

• JD Supra European Union

Not necessarily. It is a common practice for controllers to charge consumers different amounts depending upon whether they consent to certain types of processing.

• JD Supra European Union

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...

• JD Supra European Union

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. 

• JD Supra European Union

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.”

• JD Supra European Union

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...

• JD Supra European Union

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.

• JD Supra European Union

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...

• JD Supra European Union

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.

• JD Supra European Union

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.

• JD Supra European Union

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.

• JD Supra European Union

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.

• JD Supra European Union

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...