Search for:
Category

Europe

Category
In ESG

European Union: Provisional agreement reached on the Corporate Sustainability Due Diligence Directive

by , and 4 Mins Read

On 14 December 2023, the Council of the EU and the European Parliament reached a compromise on the Corporate Sustainability Due Diligence Directive (CSDDD), paving the way for its formal adoption by both institutions and thus the CSDDD’s entry into force before year end. The CSDDD is intended to significantly reshape corporate due diligence obligations regarding human rights and environmental standards in the EU and beyond. With its imminent enactment, the EU Member States will have two years to enact national laws providing for respective corporate due diligence obligations, similar to that already provided for by the German Supply Chain Act in its current form.

Read More
In Antitrust / Competition

Luxembourg: Upcoming merger control regime

by and 8 Mins Read

Luxembourg is preparing to implement in its national law an ex ante merger control regime which includes a mandatory notification requirement with turnover thresholds and a standstill obligation.
The purpose of Draft Bill No. 8296 (“Bill”), recently submitted to the Luxembourg parliament, is to give the Luxembourg Competition Authority the power to assess in advance whether a corporate concentration significantly hampers competition in Luxembourg.
The Bill currently provides that the law will only enter into force four months after its publication in the Luxembourg official journal. This should give businesses time to adapt to the new obligations.

In Antitrust / Competition

Switzerland: New Swiss Motor Vehicle Ordinance

by , and 7 Mins Read

On 29 November 2023, the Swiss government enacted a new Ordinance on the Competition Law Treatment of Vertical Agreements in the Motor Vehicle Sector (referred to as the Motor Vehicle Ordinance). In December 2023, the Swiss Competition Commission (COMCO) released Explanatory Notes to accompany the new Ordinance. The new Ordinance and Explanatory Notes are scheduled to come into force on 1 January 2024, and are set to replace COMCO’s current Motor Vehicle Notice and Explanatory Notes.

In ESG

UK: ESG Regulatory Evolution in 2024

by and 2 Mins Read

Join us on 18 January 2024 as our Baker McKenzie experts – joined by Adam Jacobs Dean of AIMA and other industry specialists – explore the continuing evolution of ESG regulation and compliance challenges that firms can expect to encounter in the new year. This session will focus on the FCA’s new ESG product labelling regime (the “SDR”), upcoming changes to the EU’s SFDR regime, and emerging best practices in ESG governance.

In Tax

France: Obligation for tax residents to declare foreign bank accounts

by and 4 Mins Read

In a ministerial response dated 31 August 2023, the French Minister of the Economy recently commented on the obligation for French tax residents to annually declare their foreign bank accounts, clarifying that the fact that a person holds a shareholding in a foreign company or is its corporate officer is not in itself sufficient to fall within the scope of this reporting obligation.

In

EU-US Data Privacy Framework — no additional protections or authorizations needed for EU to US data flows – Outlook for African countries

by and 5 Mins Read

In July this year, the European Commission adopted an adequacy decision for the EU-US Data Privacy Framework. The decision allows the free flow of data from the European Union to the United States if US companies abide by the Framework. It is likely that the Commission will soon look at adopting adequacy decisions for African countries, in addition to other regions, with such decisions expected to have applicability for those countries that have developed privacy laws that are modeled, fully or partially, on the European Union’s General Data Protection Regulations or the earlier EU Data Protection Directive (1995).

Read More
In AML & Financial Services Regulatory

Germany: New Federal Office responsible for sanctions enforcement established

by , and 8 Mins Read

On 11 October 2023 the German Federal Government approved the Financial Crime Prevention Act, which shall come into force on 1 January 2024. The law will establish a new federal authority – the Federal Office to Combat Financial Crime. This new institution will have competences with respect to the fight of money laundering, sanctions and illicit financial flows.

In ESG

European Union: Deforestation Regulation – New due diligence requirements to tackle deforestation and forest degradation

by and 5 Mins Read

The new EU Deforestation Regulation (2023/1115/EU) will impose due diligence obligations from 30 December 2024 aimed at tackling deforestation and forest degradation. The Regulation will require companies dealing in in-scope products to undertake due diligence into the source of a wide range of commodities, including cattle, cocoa, coffee, palm-oil, rubber, soya and wood, to ensure that they have not been obtained as a result of deforestation.

In Product Regulation & Liability

Czech Republic: Proposed new medicinal product supply obligations and mandatory stock requirements

by and 2 Mins Read

Like many other countries in the EU, the Czech Republic has repeatedly experienced shortages in the supply of medicinal products for human use. In response to this unfavorable situation, the Government of the Czech Republic prepared and submitted for discussion to the Parliament of the Czech Republic a draft amendment to Act No. 378/2007 Sb. on Medicinal Products and on Changes to Some Related Acts, as amended.

Read More
Load More