Royal Decree 192/2023 on Medical Devices, which adapts Spanish national regulations to the provisions of Regulation (EU) 2017/745, was published on 22 March 2023. The new Royal Decree identifies the competent authority in Spain for medical devices, expands the scope of some of the provisions to new kind of products and introduces provisions regarding the manufacture of in-house products and the reprocessing of single-use products, among other significant changes.
On 22 March 2023, the European Commission tabled a proposal for a Directive on substantiation and communication of explicit environmental claims.
The proposal aims to harmonize the evaluation and monitoring of voluntary environmental claims – often referred to as “green claims” – towards EU consumers and control the proliferation of public and private environmental labels. Complementing the March 2022 proposal for a Directive on empowering consumers for the green transition as a lex specialis by providing more specific requirements on the substantiation, communication and verification of green claims, it contributes to the fight against “greenwashing”.
In an article for Compliance and Risk Journal, John Bracken considers the ever-changing employment law environment, highlighting recent and upcoming court decisions and legislative developments.
The Financial Conduct Authority has recently reiterated that its new Consumer Duty represents a significant shift in its expectations of affected firms. Good customer outcomes must be at the heart of firms’ business strategy and objectives. In an article for Thomson Reuters Regulatory Intelligence, Annabel Mackay and Kimberly Everitt provide an overview of the employment law implications of the Consumer Duty and lists next steps firms should take to ensure compliance.
Baker McKenzie’s Sanctions Blog published the alert titled Ukraine introduces a new set of sanctions against Russian, Iranian, Syrian and UAE persons on 21 March 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The Belgian Financial Services and Markets Authority has introduced stricter rules for commercializing virtual currencies, such as Bitcoin or Ether, among consumers in Belgium. Among others, advertisements must contain the disclaimer “Virtual currencies, real risks. The only guarantee in crypto is risk.” In addition, mass advertising campaigns to more than 25,000 people must be notified to the regulator 10 days in advance.
Baker McKenzie’s Sanctions Blog published the alert titled Blog Series: Sanctions Enforcement Around the G7, the German Perspective on 22 March 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The Resolution ACC/747/2023, of 6 March 2023, was published in the Diari Oficial de la Generalitat de Catalunya (the Official Gazette of the Catalan Government). Said Resolution declared the state of exceptionality due to hydrological drought in the exploitation units of the Llobregat Reservoirs, Ter Reservoirs and Ter-Llobregat Reservoirs and modified the states of hydrological and pluviometric drought of other exploitation units in Catalonia (Spain)
In a time of recession, competition law regulations do not change in their content or enforcement. On the contrary, it is vital for companies to remain compliant with applicable antitrust laws and continue their commercially independent behavior. We provided an overview perspective on key antitrust and competition trends for emerging markets including, Morocco, Egypt, Turkey, South Africa and Saudi Arabia in 2023.
The UK Office of Financial Sanctions Implementation (OFSI) has updated its guidance on enforcement and monetary penalties for breaches of financial sanctions, to include a number of paragraphs setting out OFSI’s expectations around the nature and type of due diligence that companies should undertake when assessing whether an entity is owned or controlled by one or more designated persons, for sanctions purposes.