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• JD Supra European Union

We hope you’re settling in well in to what is already quite an eventful 2021. While the European Commission continues to focus on combatting COVID-19 including clarifying confusion in contractual arrangements with vaccine providers, it is also pressing ahead with its longer-term plans to future-proof against further pandemics, drive the economic recovery as well as add a Health Union, some of...

• JD Supra European Union

Before digital operational resilience was in full focus in of the European Supervisory Authorities (including the European Securities and Markets Authority – ESMA) and national competent authorities (NCAs) cloud outsourcing was a primary area of rulemaking and supervisory guidance.

• JD Supra European Union

Status and next steps in the legislative procedure The Federal Ministry of Economics and Energy has made available to associations and the professional public an outline of a draft bill on the implementation of relevant EU requirements and the regulation on pure hydrogen networks.

• JD Supra European Union

What is going on? The EU has adopted a new set of rules that will change the way in which asset managers and financial advisors address environmental, social and governance (“ESG”) when conducting business. Two of the cornerstones of the new legislation are...

• JD Supra European Union

On 22 October 2020, the European Commission (EC) published a consultation: Review of EU rules on alternative investment fund managers.1 The consultation is open until 29 January 2021 and marks the next step in the EC's formal review of the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD).

• JD Supra European Union

The retail sector has been suffering greatly during the COVID-19 pandemic. The legislation is changing almost on an everyday basis. Please see full summary below for more information.

• JD Supra European Union

The retail sector has been suffering greatly during the COVID-19 pandemic. The legislation is changing almost on an everyday basis and Dentons is here to help you stay in the loop about these changes. Please see full Matrix below for more information.

• JD Supra European Union

As COVID-19 has taken hold in Europe, several EU member states have experienced, or are at risk of experiencing, a shortage of essential protective equipment. In order to keep this shortage to a minimum, the EU has used its safeguarding powers under the Export Regulation to introduce a requirement that certain personal protective equipment may be not exported from the EU unless the exporter has...

• JD Supra European Union

To mitigate the economic repercussions of the COVID-19 outbreak in the Member States, authorities are considering support measures for citizens and/or companies. The European Commission has already recognized the outbreak as a new downside risk in its Winter 2020 Economic Forecast and is currently in the process of working on measures to support Member States in their efforts to minimize the...

• JD Supra European Union

Financial services firms have recently become more attuned to the challenges of adopting business continuity plans (BCPs) in light of the spread of the coronavirus. The ECB-SSM has published a letter to all Significant Credit Institutions advising them to (1) revise their contingency and BCP assessments; (2) assess how quickly such measures could be implemented and sustained; (3) establish...

• JD Supra European Union

On January 23, 2020, the European Banking Authority (EBA) acknowledged in an Opinion (the Opinion) the European Commission’s (EC) decision to consider the supervisory and regulatory framework applicable to credit institutions in Serbia, as well as South Korea, as equivalent to the rules applied in the European Union (EU). This means that certain categories of exposures to entities located in...

• JD Supra European Union

After a relatively quiet period, the last few months have been very eventful as far as progress on the Credit Servicers Directive is concerned. For an update of what happened up to this point, one should read this Client Alert, and any updates to it, in conjunction with our coverage from April 16, 20191. In this Client Alert, we look at the way forward to what is a far-reaching set of changes to...

• JD Supra European Union

With International Women’s Day being celebrated on 8 March, it can surely be no coincidence that last week the PRA issued all dual-regulated firms with a letter reminding them of its rules on board diversity. However, the regulator has more than just the advancement of women in its sights.

• JD Supra European Union

Usually every January the European Central Bank (ECB), acting at the helm of the Banking Union’s Single Supervisory Mechanism (SSM), publishes its overall compliance assessment along with Banking Union Supervised Institution (BUSI) specific findings from the previous year’s Supervisory Review and Evaluation Procedure (SREP) . In many ways this supervisory scorecard not only drives BUSIs to set...

• JD Supra European Union

We present you with a selection of key regulatory developments in the EU.

• JD Supra European Union

February for financial markets has seen most of 2020 gains reversed and consequently, courtesy of Coronavirus concerns, an introspective review of what monetary policy tools are left in the toolkit or the workshop and how these, along with fiscal policy, might get things moving again. Germany has already announced plans to suspend its debt brake to allow municipalities to spend. If this passes...

• JD Supra European Union

Impact of Brexit on Competition matters - On 31 January 2020, the United Kingdom ("UK") ceased to be a Member State of the European Union. However, under the UK-EU agreement on the UK's withdrawal from the EU (the “Withdrawal Agreement”), virtually all EU law remains "applicable to and in the UK" until 31 December 2020 (the “implementation period”). Although the...

• JD Supra European Union

The following represents a carefully curated selection of our recent Thought Leadership contributions as well as our “Navigating 2020” publication – a supervisory outlook for 2020 for Banking Union Supervised Institutions and other regulated market participants already based in or otherwise relocating to the EU and/or the Eurozone.

• JD Supra European Union

We present you with a selection of key regulatory developments in the EU.

• JD Supra European Union

Now that Brexit has been signed, sealed and is set to be delivered, it is time to talk transition. While it is a regret that we see the UK, after 47 years of influential membership in the European project, leave the EU on January 31, we hope that this may be more au revoir rather than adieu. February 1 marks the start of the most testing phase of the EU-UK’s move to its future relationship. In...

• JD Supra European Union

It’s 2020 and the race towards the finish line of risk-free rates (RFRs) implementation is well and truly underway, with EONIA being set to be discontinued after the end of 2021 and LIBOR continuity no longer being guaranteed from that same point in time onwards. It is not surprising then, that the fourth quarter of 2019 was a tumultuous one, bearing witness to key events such as €STR’s first...

• JD Supra European Union

Prior to discussing the recent legal developments in the field of medical cannabis, it is important to distinguish between medical cannabis and EU-approved medicinal products derived from cannabis. Medical cannabis is cannabis grown for medical purposes, whereas EU-approved medicinal products encompass certain medicines derived from cannabis and containing an amount of the active ingredients of...

• JD Supra European Union

On 3 December, 2019, Dentons’ EU Competition & Antitrust team held its third complimentary webinar in a series dedicated to vertical restraints in the EU. The first two webinars focused on the recent cooperation strategies in vertical enforcement cases and the current state of play of resale price maintenance (RPM) enforcement in the EU.

• JD Supra European Union

We present you with a selection of key regulatory developments in the EU.

• JD Supra European Union

December broke the deadlock on Brexit and Brussels sighed relief. That being said, if the UK does indeed stick to the current exit date, then the move to negotiating a new relationship, which will not include financial services access, does remain a difficult task in the current 11 month timeline. Even if both sides need to still agree and communicate their respective mandates on the future Free-T

• JD Supra European Union

The following represents a carefully curated selection of our recent Thought Leadership contributions:  SSM revises supervisory fee methodology - big win on fees for smaller and simpler SSM firms - December in the EU’s Banking Union and its Single Supervisory Mechanism (SSM) marks a time to reflect on past performance and focus on future areas in terms of supervisory...

• JD Supra European Union

On November 26, 2019, the Directive (EU) 2019/1937 of the European Parliament and of the Council on the protection of persons who report breaches of Union law, commonly known as the whistleblower protection directive (“Directive”), was published in the Official Journal of the European Union. Starting from 16 December 2019, member states have two years to implement in their domestic laws...

• JD Supra European Union

Designing an internal whistleblowing system - The issue of whistleblowing is drawing more and more attention. The media regularly reports on investigations and proceedings triggered by whistleblowers who have reported legal violations in politics and business, and companies are realizing the importance of having an effective whistleblowing system in place to detect Compliance breaches

• JD Supra European Union

We keep discussing about new technologies with our TMT Bites. From big data to blockchain, from IoT to artificial intelligence. All these technologies and developments raise a number of challenges, including the “jurisdiction creep”, i.e. the possibility to “attract” in a jurisdiction data protection, security requirements or other regulations that are applicable in foreign countries, without...

• JD Supra European Union

We present you with a selection of key regulatory developments in the EU.