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Category Archives: EU and Competition

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ESMA Provides Further Clarity on Initial Coin Offerings in Europe

By James Inness and Stuart Davis Following our 7 November 2017 blog “Europe as a Hub for Initial Coin Offerings”, the European Securities and Markets Authority (ESMA) has published two statements on Initial Coin Offerings (ICOs). The statements underline ESMA’s interest in ICOs as a means to raise capital for enterprises, particularly given their rapid … Continue Reading

Pharma and Biotech: Key Trends and Legal Risks

By Hanna Roos, Oliver Browne and Robbie McLaren How to thrive amid uncertainty? This was the question we explored at the 35th FT Global Pharmaceutical and Biotechnology Conference. Here are five key industry trends and corresponding practical legal tips to help companies stay protected and seize opportunities. “Access”, Not “Excess” The industry is facing pressure on … Continue Reading

Europe as a Hub for Initial Coin Offerings?

By James Inness and Stuart Davis Initial coin offerings (ICOs) involve issuers offering virtual coins or tokens that are created and disseminated using blockchain or distributed ledger technology. Virtual coins resemble cash in a number of ways but may also afford holders additional rights, such as the ability to access the platform or software, or participate … Continue Reading

3 Changes to the EU Trade Mark Regime: What Applicants Need to Know

By Deborah Kirk Changes to the Regulation on the EU Trade Mark came into effect on 1 October, 2017 that alter the process of registering trade marks. These changes aim to harmonize trade mark practices across the European Union while increasing legal certainty and clarity for trade mark applicants. In particular, applicants should note three … Continue Reading

New EU-Certification Mark Added to IP Armory

By Deborah Kirk European Union (EU) trademark law is currently undergoing significant reform, with the most recent change of particular relevance to certification mark holders or to those interested in applying for certification marks. The EU-certification mark, introduced on 1 October 2017, widens the categories of trade mark protections that are available at the EU-level. … Continue Reading

How Will Court of Appeal Decision in Sabbagh v Khoury and others Affect Future Article 6(1) Cases?

By Oliver Browne and Daniel Harrison The Brussels Regulation provides for an exception to the general rule that a claimant must sue a defendant in the EU Member State where the defendant is domiciled. The exception allows a claimant to sue a defendant where a co-defendant (the “anchor” defendant) is domiciled instead, if the claims … Continue Reading

New German Foreign Investment Rules Threaten Deal Timetables

By Jana K. Dammann de Chapto and Joachim Grittmann The German government has tightened the rules for its review proceedings for M&A involving non-EU investors, with changes to its German Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung) that significantly increase foreign investment oversight. The new rules, which came into force on 18 July 2017, introduce a … Continue Reading

CMA Updates its Penalties Guidance for UK and EU Competition Law Infringements

By Jonathan Parker and Calum Warren On 2 August 2017, the UK Competition and Markets Authority (CMA) launched a consultation on proposals to amend the Office of Fair Trading’s 2012 guidance as to the appropriate amount of a penalty for infringements of the prohibitions against anti-competitive agreements and an abuse of a dominant position contained … Continue Reading

What Will the New EU Prospectus Regulation Mean for Issuers?

By James Inness A new prospectus regulation (Regulation (EU) 2017/1129) (the Regulation) will come into direct effect on 20 July 2017, with a small number of provisions applying immediately and the remainder applying from 21 July 2019. The changes under the Regulation will likely be relevant to issuers both before and after Brexit. Which Provisions … Continue Reading

New EC Guidelines to Improve Non-Financial Information Reporting

By Paul Davies, Michael Green and Ei Nge Htut On 26 June 2017, the European Commission (the EC) published non-binding guidelines on the methodology for reporting non-financial information by certain large companies and groups (the Guidelines) as required by Article 2 of the Directive 2014/95/EU amending the Accounting Directive on the disclosure of non-financial and diversity … Continue Reading

German Utilities Score Billions on Constitutional Challenge to German Nuclear Fuel Tax

By Jörn Kassow and Alexander Wilhelm On 7 June 2017, the Federal Constitutional Court of Germany (FCC) published a recent decision that declared the German Nuclear Fuel Tax Act (Kernbrennstoffsteuergesetz – KernbrStG) void due to the lack of legislative competence of the federal legislator (Bundestag) to enact the law constitutionally. The FCC argued that neither the … Continue Reading

Spain Reorganises its National Regulatory Authorities to Comply with EU Guidelines

By Rosa Espín and Leticia Sitges The Spanish government recently passed a draft bill for the “ rationalization and organization of the supervising regulatory bodies of the markets and the improvement of its governance” (the Draft Bill). The bill aims to reorganize antitrust regulation, and to improve supervision and regulation in the economic and financial domains, … Continue Reading

German Court Delays Implementation of Unified Patent Court Legislation

By Deborah Kirk, Charles Courtenay, Christian Engelhardt, Yasmina Borhani and Andrea Stout Germany’s constitutional court, the Bundesverfassungsgericht, has requested that the German President hold off on signing the legislation ratifying the Unified Patent Court (UPC) and the Unitary Patent (UP) following a constitutional complaint from an unnamed individual. The court did not disclose the nature … Continue Reading

Dow/DuPont: MOFCOM Grants First Conditional Clearance of 2017

By John. D Colahan and David Zhou  Background On 2 May 2017, China’s Ministry of Commerce (MOFCOM) announced its conditional clearance of the proposed US$130 billion all-stock merger of equals between the Dow Chemical Company (Dow) and E.I. du Pont de Nemours and Company (DuPont), marking the first conditional clearance that MOFCOM has granted this … Continue Reading

Meeting Your Competitors – Think Before You Speak!

By Hayley Pizzey On 19 December 2016 the Competition and Markets Authority (CMA) issued two competition law infringement decisions in its galvanised steel tanks investigation. Cylindrical galvanised steel tanks store water in large buildings and supply the water for fire sprinkler systems. The first decision relates to a cartel (the main cartel). The second decision … Continue Reading

Environment: The Year Ahead

By Paul Davies, Antonio Morales, Jörn Kassow, Joachim Grittmann and Cesare Milani The year ahead presents a series of challenges and opportunities for the development of environmental law across Europe. Notably, the Paris Agreement came into effect on 4 November 2016 and is now binding upon the signatory countries. The European signatory countries will therefore be … Continue Reading

U.S.-Style Leveraged Lending Guidance Comes to Europe

By Alan Avery, Christopher Kandel, Markus Krüger and Axel Schiemann On 23 November 2016, the European Central Bank (ECB) published its draft guidance to banks on leveraged lending, launching a public consultation period that runs until 27 January 2017. The draft guidance is very similar to leveraged lending guidance issued by the US federal banking agencies in … Continue Reading

UK CMA Announces Closure of Investigation into PCWs for Energy Tariffs

By John Colahan and Calum Warren On 6 October 2016, the UK Competition and Markets Authority (CMA) announced the closure of its investigation into a suspected competition law breach by some price comparison websites (PCWs) for energy tariffs on the grounds of administrative priorities. The suspected competition law breach related to certain paid online search … Continue Reading

Infrastructure Investors: Is Your State Aiding You?

By Elisabetta Righini Investment in the infrastructure that keeps Europe running smoothly continues to be a big theme in European private equity. In every sector, from energy to sport, from transport to broadband, governments are increasingly calling in the private sector to build and operate infrastructure assets. Indeed, spending on infrastructure received a boost in … Continue Reading

Cartel Damages Litigation – Three Judgments in the Air Cargo Litigation that will Re-Shape the Landscape

By Alexandra Luchian In 2010, the European Commission found that 11 airlines were culpable of price fixing[1]. The alleged cartel was said to have operated between 1999 and 2007. The Commission decision gave rise to a number of cartel damages actions, including proceedings in the English courts; the English proceedings are some of the largest … Continue Reading

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Welcome to Latham.London, our new blog. Drawing on our legal and commercial expertise, we will share our views and provide short updates on the most important local and international developments impacting key markets and industries.  To ensure you do not miss any of the information most relevant to your needs and interests please feel free to subscribe … Continue Reading
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