Latham.London

Tag Archives: EU

European Court of Justice Delivers Victory for EU Transparency and Accountability

Landmark ruling requires the European Commission to disclose impact assessments used as a basis for its legislative decision-making process. By Antonio Morales and Rosa Espín The Grand Chamber of the Court of Justice of the European Union recently issued a landmark judgment finding that impact assessments should be considered public documents. This decision sets a … Continue Reading

PE Firms Must Evaluate Competition Strategy Ahead of Brexit

By Jonathan Parker and Greg Bonné As the UK Competition and Markets Authority (CMA) prepares to assume sole jurisdiction for UK competition reviews post-Brexit, private equity deal teams must evaluate the competitive consequences of deals bridging the Brexit period and update their competition strategy accordingly. What is Changing? The European Commission (EC) currently acts as a … Continue Reading

FCA to Create Global Financial Innovation Network

FCA teams up with other regulators to advance its idea of creating a global regulatory sandbox. By Stuart Davis, Gabriel Lakeman, Sam Maxson, Brett Carr and Charlotte Collins The FCA, along with several other financial services regulators, has launched a consultation on the operating framework for a Global Financial Innovation Network (GFIN). This is an evolution … Continue Reading

English Court Issues Anti-Arbitration Injunction Restraining Lebanese Arbitration Proceedings

Judgment clarifies the exceptional circumstances in which anti-arbitration injunctions against foreign-seated arbitrations might be granted. By Oliver E. Browne and Robert Price In Sabbagh v Khoury, Justice Knowles in the High Court issued an anti-arbitration injunction to restrain arbitration proceedings commenced in Lebanon on the basis that, contrary to the Lebanese arbitral tribunal’s findings, the … Continue Reading

FCA Supports Guidelines on the Open Banking Fall-Back Provisions Exemption

The FCA has outlined its approach to implementing key standards under the revised Payment Services Directive. By Christian McDermott, Stuart Davis, Brett Carr, and Charlotte Collins The FCA has published a statement on its website relating to the European Banking Authority’s (EBA’s) Opinion and draft Guidelines of 13 June 2018 on the Regulatory Technical Standards … Continue Reading

English Court Cannot Issue Anti-Suit Injunctions Restraining Other EU Court Proceedings

Judgement clarifies that the Brussels Recast Regulation does not reverse the West Tankers decision. By Oliver E. Browne and Robert Price In Nori Holdings v Bank Otkritie, Justice Males in the High Court issued an anti-suit injunction to restrain court proceedings commenced in Russia in breach of an arbitration clause, but refused to issue an … Continue Reading

New UK Government Powers Over Smaller Transactions Raising National Security Concerns

Buyers of businesses that produce military or dual-use goods, certain aspects of computing hardware, or quantum technology for supply in the UK should carefully assess the risk of governmental intervention if their targets fall within the scope of the new regime. By Jonathan D. Parker and Calum M. Warren On 11 June 2018, the UK … Continue Reading

Cartelised Products: In or Out of EEA? Only a Trial Will Tell

England may become an increasingly attractive forum for follow on damages claims, particularly those involving indirect cartelised product purchases initially acquired outside EEA the in wake of iiyama decisions. By Oliver E. Browne and Hayley M. Pizzey Summary The English Court of Appeal has held iiyama’s two claims against cathode ray tube (CRT) cartelists and … Continue Reading

Cryptocurrencies and Prepaid Cards Face Closer AML Regulation in the EU

New EU anti-money laundering measures have been approved by European legislators. By Stuart Davis and Charlotte Collins The European Parliament and Council have finally signed off on the text of the fifth Anti-Money Laundering Directive (known as MLD5). Overview The new directive is of particular interest to the FinTech sector as, amongst other things, MLD5 … Continue Reading

UK Ratifies the Unified Patent Court Agreement

Patent holders must prepare a patent strategy before the Unified Patent Court system takes effect. By Deborah J. Kirk On 26 April 2018, the UK government confirmed that the UK has now ratified the international agreement (the Agreement) to set up a Unified Patent Court for Europe (the UPC). Whilst the government promised this move … Continue Reading

Leaving Germany? Cross-Border Migration of German Real Estate Companies

Cross-border migration of German real estate companies is generally possible, however its admissibility must be determined on a case-by-case basis. By Christian Thiele International real estate investors continue to favour German real estate, however, the same does not always apply to German real estate companies. International real estate investors, for instance, often find German capital … Continue Reading

First Use of ESMA Temporary Product Intervention Measures

ESMA to introduce measures to restrict the provision of CFDs, and prohibit the provision of binary options, to retail investors in the EU. By Nicola Higgs and Charlotte Collins The European Securities and Markets Authority (ESMA) has announced the first use of its new product intervention powers under MiFID II. ESMA had announced before MiFID … Continue Reading

CJEU Offers Improved Protection for Luxury Goods in Coty Ruling

By Jonathan Parker and Calum Warren Summary The Court of Justice of the European Union (CJEU) has handed down its much-anticipated judgment in Case C-230/16 Coty Germany GmbH v Parfümerie Akzente GmbH (Coty). The case concerns the legality of a prohibition of sales on third-party platforms discernible to the public within Coty Germany’s selective distribution … Continue Reading

Group Liability for Data Protection Failure – A New Threat for Private Equity Firms?

By Gail Crawford, Hayley Pizzey, Mark Sun, and Calum Warren As European data protection regulators prepare to enforce the General Data Protection Regulation (GDPR) from May 2018, private equity firms must act to minimise the risk of becoming financially liable for the data protection failings of portfolio companies. After a recent spate of high-profile data breaches, … Continue Reading

Unified Patent Court Update: Ratification Could Take Place in the Coming Months

By Deborah Kirk The Delegated Legislation Committee’s (DLC) support for the Unified Patent Court (Immunities and Privileges) Order 2017 (the Order) suggests a swift approval of the Order by the House of Commons. Presuming a rapid approval by the House of Lords thereafter, this could mean the Unified Patent Court Agreement (UPC Agreement) is ratified … Continue Reading

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

European Parliament Calls for Tougher Environmental Liability Rules

By Paul Davies and Michael Green The Environmental Liability Directive (ELD) aims to prevent, remedy and/or compensate for environmental damage. ELD seeks to achieve this through the “polluter pays principle”, ensuring businesses are held legally and financially accountable for environmental degradation that results from their operations. However, Member States have varied considerably in implementing ELD, … 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

European Parliament: Substances of Concern in the Circular Economy Are Difficult to Address

By Paul Davies and Michael Green A new European Parliament briefing highlights the benefits of, and difficulties associated with, transitioning the chemicals industry to a circular economy. The traditional economy typically involves purchasing and using a product, and then disposing that product when it no longer has utility (i.e. the “take-make-dispose” approach to resources). Conversely, … Continue Reading

IP & Brexit: The Impact of Brexit on the Community Unregistered Design Right and the Creative Industries Who Rely on Them

By Deborah Kirk and Elizabeth Purcell Brexit discussions will need to address the application of the Community unregistered design right (CUDR) in the UK following the UK’s exit from the EU. The CUDR currently provides: Unregistered design protection in all of the EU member states Automatic and broad protections to UK designers for qualifying designs … 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
LexBlog