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• JD Supra European Union

LATEST KEY DEVELOPMENTS - Competition & State Aid • €25 billion Pan-European Guarantee Fund deployed for the first time • EU approves new and amended Member State measures to support the economy Trade / Export Controls • No noteworthy items for this issue Medicines, Medical Devices, and Personal Protective Equipment

• JD Supra European Union

A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant responsibilities and potential personal liabilities associated with the management of a company where its business is in financial distress. In this White Paper,we provide an overview of...

• JD Supra European Union

LATEST KEY DEVELOPMENTS - Competition & State Aid • EU approves new and amended Member State measures to support the economy • European Commission Executive Vice-President Margrethe Vestager speech on COVID-19 State aid measures Trade / Export Controls • European Commission introduces surveillance of bioethanol imports • Commission

• JD Supra European Union

This regular alert covers key regulatory EU developments related to the COVID-19 situation. It does not purport to provide an exhaustive overview of developments and contains no analysis or opinion. LATEST KEY DEVELOPMENTS - Competition & State Aid • EU approves new and amended Member State measures to support the economy Trade / Export Controls •...

• JD Supra European Union

This regular alert covers key regulatory EU developments related to the COVID-19 situation. It does not purport to provide an exhaustive overview of developments and contains no analysis or opinion. LATEST KEY DEVELOPMENTS - Competition & State Aid • EU approves new and amended Member State measures to support the economy Trade / Export Controls •...

• JD Supra European Union

European Commission Announces 2030 Climate Target Plan - As part of the European Green Deal—and flowing from the European Commission's (the "Commission") December 2019 announcement of a 2050 zero carbon target across the European Union ("EU")—on September 17, 2020, the Commission announced its Climate Target Plan on how to increase the EU's greenhouse gas ("GHG

• JD Supra European Union

The term "Rent Controls" refers to measures designed to restrict the amount of rent that a landlord can charge a tenant for residential premises. Rent control measures appear in various forms across Europe, ranging from strict caps on the initial rent that can be charged under a tenancy, or measures that allow free negotiation of the initial rent but moderate any rental increases. Rent...

• JD Supra European Union

The International Swaps and Derivatives Association, Inc. ("ISDA") has finally published its long-awaited "Amendments to the 2006 ISDA Definitions to include new IBOR fallbacks" ("IBOR Supplement") and accompanying "protocol" ("Protocol"). The Protocol will be open for adherence on October 23, 2020, and the IBOR Supplement will be "effective&q

• JD Supra European Union

Regulation (EU) 2019/2033 on the prudential requirements of investment firms and Directive (EU) 2019/2034 on the prudential supervision of investment firms (collectively, "IFR/IFD Framework") significantly change the regulatory and prudential environment of investment firms. The Framework categorizes investment firms based on a combination of quantitative criteria with other criteria (su

• JD Supra European Union

This regular update (no. 24 | 13 October 2020) covers key regulatory EU developments related to the evolving COVID-19 situation (Antitrust & State Aid; Trade/Export Controls; Medicines, Medical Devices and Personal Protective Equipment; and Cybersecurity, Privacy & Data Protection). Please see full Publication below for more information.

• JD Supra European Union

This regular update (no. 23 | 29 September 2020) covers key regulatory EU developments related to the evolving COVID-19 situation (Antitrust & State Aid; Trade/Export Controls; Medicines, Medical Devices and Personal Protective Equipment; and Cybersecurity, Privacy & Data Protection). Please see full Publication below for more information.,

• JD Supra European Union

This regular update (no. 22 | 22 September 2020) covers key regulatory EU developments related to the evolving COVID-19 situation (Antitrust & State Aid; Trade/Export Controls; Medicines, Medical Devices and Personal Protective Equipment; and Cybersecurity, Privacy & Data Protection). Please see full Publication below for more information.

• JD Supra European Union

The European Court of Justice ("ECJ") issued a landmark ruling in 2019 that obligated EU Member States to require employers to establish an objective, reliable, and accessible system for recording the hours worked each day by employees (i.e., a daily working time registry). Following the ECJ decision, EU countries that did not already require employers to record daily working time...

• JD Supra European Union

The Situation: Targeted legislative and regulatory measures implemented by many EU Member States during the pandemic may ultimately prove insufficient to ease employers' burdens and prevent employment losses. The Result: Companies may need to consider various strategies to reduce labor costs. The current uncertain economic situation may facilitate negotiation and implementation of...

• JD Supra European Union

On June 25, 2020, the Court of Justice of the European Union ("ECJ") delivered a judgment (C24/19) clarifying that orders and circulars of EU Member States that regulate the installation and operation of wind turbines constitute "plans and programs" subject to environmental assessment under Directive 2001/42. In this matter, neighbours of a site intended for wind...

• JD Supra European Union

On June 25, 2020, the Court of Justice of the European Union ("ECJ") delivered a judgment (C24/19) clarifying that orders and circulars of EU Member States that regulate the installation and operation of wind turbines constitute "plans and programs" subject to environmental assessment under Directive 2001/42. In this matter, neighbours of a site intended for wind...

• JD Supra European Union

The Situation: Negotiators for the European Parliament and the Council of the European Union (the "Council") have reached an agreement on new European rules on collective consumer action. The Council has thus published a proposal for a "Class Actions" Directive (the "Directive"). The Issue: The European Union ("EU") has been seeking to strengthen

• JD Supra European Union

The Development: The EU General Court annulled the European Commission's decision in the Apple case, holding that the Commission did not prove that the Irish tax rulings in question gave rise to a selective advantage under EU State aid rules. The Result: Following the Fiat and Starbucks cases, this ruling acknowledges that the Commission is empowered to scrutinize tax rulings under State aid...

• JD Supra European Union

Although the EU has strict rules that limit the circumstances in which Member States can subsidize companies in the EU, the rest of the world does not. The European Commission considers this difference unfair because it would distort competition in the EU and global markets. The European Commission recently released a White Paper that discusses a future framework to address the...

• JD Supra European Union

One effect of the COVID-19 pandemic has been to accelerate the implementation of new or stricter controls on inward-bound foreign direct investment activity ("FDI"), particularly in the European Union. For example, in March 2020, the European Commission issued revised guidance encouraging EU Member States to make full use of their FDI screening regimes. More recently, the French, Dutch,

• JD Supra European Union

The economic crisis caused by the spread of the coronavirus triggered an unprecedented response from European governments to support their economies with various measures of support. This overview summarizes the various support initiatives that have been made available for companies in Europe's most important jurisdictions. Covering seven countries (Germany, United Kingdom, France, the

• JD Supra European Union

The Situation: The European Commission issued an Action Plan on Anti-Money Laundering/Combating the Financing of Terrorism ("AML/CFT") in response to recent money laundering scandals and concerns of an increase in crime due to COVID-19. The Result: The Action Plan will ensure harmonization of EU AML/CFT laws, implement an EU-level supervising authority, and promote the...

• JD Supra European Union

The European Commission is expected to issue a White Paper on an Instrument on Foreign Subsidies on June 17, as anticipated in its 2020 work program. The Commission's White Paper will address the perception that foreign subsidies facilitate unfair acquisitions of European companies and distort their beneficiaries' pricing policies in the European Union ("EU"). The EU already

• JD Supra European Union

The EU General Court ruled that the Commission must demonstrate with a "strong probability" that the effect on competition is "significant" to block a merger that does not create a dominant company. In a rare judgment, the EU General Court annulled the European Commission's decision to block Hutchison's attempted acquisition of Telefónica's "O2" mobile...

• JD Supra European Union

The European Commission recently launched two consultations that would expand its investigative powers and establish regulations for digital platforms. The Commission intends to close perceived gaps in its authority to remedy alleged competition concerns in the digital sector. Market Investigation Powers - The first consultation (and roadmap) outline alternative scenarios...

• JD Supra European Union

The Background: Manufacturers and brand owners of personal protective equipment ("PPE") and other "essential" items have discovered unauthorised third parties reselling their products at vastly inflated prices, including on websites such as Amazon. Such price gouging can cause damage to the manufacturers' goodwill and reputation. The Issue: Can manufacturers and...

• JD Supra European Union

The Situation: The European Union ("EU") is on track to adopt the Taxonomy Regulation by the end of 2020, a key pillar of both the EU Action Plan on Financing Sustainable Growth and the European Green Deal. The Result: The Taxonomy Regulation will require significant new disclosures and technical screening for covered entities in virtually all areas of the economy.

• JD Supra European Union

The Situation: Businesses and customs authorities alike are confronted by customs-related challenges amidst the novel coronavirus ("COVID-19") crisis, whether for the import of goods to combat the outbreak, or difficulties in complying with customs formalities. In response, the European Commission ("Commission") is providing a panoply of tools and guidance in the area of EU...

• JD Supra European Union

The first one, called EU Chemicals Legislation Finder ("EUCLEF"), which is an online search tool, became operational on March 11, 2020. For each substance searched on the ECHA Information on Chemicals Portal, EUCLEF identifies the different pieces of legislation applicable to the particular substance.

• JD Supra European Union

The new guidance encourages EU Member States to make full use of existing, and adopt new, investment screening mechanisms. Investments in the health care sector and related industries are likely to face increased scrutiny and may be blocked or subjected to conditions.  The European Commission has issued new guidance addressing foreign investment screening in the context of the current...