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In Tax

Germany: German Federal Ministry of Finance publishes Pillar 2 draft implementation law

by , and 5 Mins Read

Over the last few months there have already been a number of legislative developments in connection with the global minimum tax under Pillar 2 all around the world. It is fair to say that Pillar 2 is increasingly gaining momentum and a critical mass of implementing jurisdictions could be reached in the foreseeable future. Germany is now the next country taking actions to implement Pillar 2 into domestic law. On 21 February 2023, the German Federal Ministry of Finance has published a draft law including explanatory comments.

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In ESG

European Union: Commission tables proposal for Green Claims Directive

by , and 6 Mins Read

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 AML & Financial Services Regulatory

Germany: Crypto securities

by , and 6 Mins Read

This article provides an overview of the German regime for crypto securities and of the recent and future expansion of the scope of the German Act on Electronic Securities, which will allow for more use cases. The eWpG provides a reliable regime for crypto securities. It entered into force in the summer of 2021, but its scope has recently been expanded. Under even more ambitious plans, the German government intends to expand its scope further.

In AML & Financial Services Regulatory

Germany: BaFin publishes new rules regarding content and submission of outsourcing notifications

by , and 4 Mins Read

With a significant delay, the German Federal Financial Supervisory Authority has issued detailed rules on the new notification requirement regarding proposed outsourcings introduced in the Financial Market Integrity Strengthening Act, a law passed on 3 June 2021 in reaction to market failures.

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In Trade and Foreign Investment

Germany: The new German Batteries Act

by and 4 Mins Read

On 1 January 2021, a revised version of the German Batteries Act (Batteriegesetz, “BattG”) entered into force. This change was triggered by the fact that the former German system of battery take-back was no longer sustainable. The former legal structure had imposed an unfair burden upon GRS Batterien, Europe’s largest collection scheme, which had become increasingly financially unattractive and therefore had been abandoned by many battery manufacturers who had set up their own take-back schemes.

In Employment

Europe: Industrial Action in Europe: What employers need to know now (Webinar)

by , , , , and 1 Min Read

Industrial action is on the rise throughout Europe; in this webinar we looked at the differences and similarities in the industrial action process across France, Germany, Italy, Spain, the Netherlands, Poland and the UK, the potential legal remedies in each jurisdiction and the practical steps employers can take to keep the business running.

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