On 14 June 2023, the European Parliament (Parliament) plenary voted on its position on the Artificial Intelligence Act (AI Act), which was adopted by a large majority, with 499 votes in favor, 28 against, and 93 abstentions....more
On 24 May 2023, the European Commission (Commission) adopted the Retail Investment Strategy as part of its 2020 capital markets union action plan. The primary objective is to reinforce investor protection within the European...more
ANTITRUST AND COMPETITION - New Dawn Raids in the Luxury and Fashion Sector in the European Union - On 18 April 2023, the European Commission (Commission) conducted unannounced inspections (i.e., dawn raids) at the premises...more
6/7/2023
/ Antitrust Provisions ,
Artificial Intelligence ,
Aviation Industry ,
Digital Services ,
Disclosure Requirements ,
Energy Sector ,
EU ,
European Commission ,
Fashion Industry ,
Machine Learning ,
Online Platforms ,
Popular ,
Retail Investors ,
Risk Management ,
Search Engines ,
Transportation Industry
In the last couple of years, the European Union has announced and adopted a wave of sustainability initiatives that will have significant implications for European and global companies across all industries. Among other...more
ANTITRUST AND COMPETITION - The European Commission Releases the Article 102 TFEU Package to Ensure Greater Legal Certainty on Exclusionary Abuses of Dominance - Article 102 of the Treaty on the Functioning of the European...more
5/8/2023
/ Antitrust Provisions ,
Competition ,
Energy Sector ,
EU ,
European Commission ,
Financial Services Industry ,
FinTech ,
Green Infrastructure ,
Member State ,
Renewable Energy ,
Sustainability ,
Treaty on the Functioning of the European Union (TFEU)
On 16 March 2023, the European Commission (Commission) published two proposals to facilitate the twin green and digital transition: a Critical Raw Materials Act (CRMA) and a Net-Zero Industry Act. The CRMA is intended to...more
Antitrust and Competition - Global Dawn Raids Signal Increased Antitrust Enforcement to Uncover Potential Cartel Behavior in the Fragrance Industry - On 7 March 2023, the European Commission (Commission), the United...more
3/31/2023
/ Antitrust Provisions ,
Competition ,
ECON ,
Energy Efficiency ,
Energy Sector ,
Enforcement Actions ,
EU ,
European Commission ,
Financial Markets ,
Greenwashing ,
Infrastructure ,
Regulatory Oversight ,
Renewable Energy
On 23 February 2023, the European Commission (Commission) launched an exploratory consultation on the future of the Electronic Communications sector and its infrastructure. Electronic communications services are provided, in...more
Antitrust and Competition - Consultation on the European Commission’s Proposal for a Temporary Crisis and Transition Framework - On 1 February 2023, member states of the European Union received a consultation on a draft...more
3/1/2023
/ Antitrust Provisions ,
Aviation Industry ,
Competition ,
Distributors ,
ECON ,
Energy Sector ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
Foreign Subsidies ,
Green Deal ,
Technology Sector
Commission Delegated Regulation (EU) 2023/363 (the Delegated Regulation), which amends and corrects the existing Sustainable Finance Disclosure Regulation (SFDR) regulatory technical standards in relation to the content and...more
ECONOMIC AND FINANCIAL AFFAIRS - The Bank of International Settlement’s Group of Central Bank Governors and Heads of Supervision Endorses the Prudential Standard for Banks’ Crypto-Asset Exposures - The Group of Central Bank...more
1/26/2023
/ Banking Sector ,
Court of Justice of the European Union (CJEU) ,
Cryptoassets ,
Cryptocurrency ,
Energy Sector ,
EU ,
European Commission ,
Financial Services Industry ,
Inflation Reduction Act (IRA) ,
Regulatory Oversight ,
Renewable Energy
ANTITRUST AND COMPETITION - EU Foreign Subsidies Regulation Expected to Enter into Force by Mid-2023 - On 28 November 2022, the Council of the European Union adopted the Foreign Subsidies Regulation (FSR), which granted the...more
12/27/2022
/ Artificial Intelligence ,
Capital Markets ,
Capital Markets Union ,
Digital Services ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Financial Services Industry ,
Foreign Subsidies ,
Greenhouse Gas Emissions ,
Online Platforms ,
Regulatory Oversight ,
Reporting Requirements ,
Sustainability
On 13 December 2022, European co-legislators (European Parliament and Council of the EU) reached a political deal on the world’s first levy on carbon intensive goods—the so-called Carbon Border Adjustment Mechanism (CBAM)....more
ANTITRUST AND COMPETITION - European Commission Launches a Public Consultation on the Draft Revised Market Definition Notice - On 8 November 2022, the European Commission launched a public consultation aimed at gathering...more
11/28/2022
/ Antitrust Provisions ,
Competition ,
Corporate Social Responsibility ,
Due Diligence ,
Energy Sector ,
EU ,
European Commission ,
Member State ,
Regulatory Oversight ,
State Aid ,
Sustainability
ANTITRUST AND COMPETITION - Commission Adopted the Revised Informal Guidance Notice for Novel or Unresolved Competition Issues - Following a public consultation, the European Commission (Commission) published on 3 October...more
11/4/2022
/ Antitrust Provisions ,
Artificial Intelligence ,
Aviation Industry ,
Competition ,
Corporate Social Responsibility ,
Cryptoassets ,
Environmental Social & Governance (ESG) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
Regulatory Oversight ,
Stablecoins ,
Sustainability
On 18 October, the European Commission (Commission) published its 2023 Work Programme (Programme). Amongst other initiatives, the Commission proposes the creation of a European hydrogen bank and a comprehensive reform of the...more
ANTITRUST AND COMPETITION - Significant Changes to the Italian Antitrust Regime - On 5 August 2022, the Italian Parliament adopted law no. 118, which entered into force on 27 August 2022 (2021 Italian Competition Law). The...more
On 21 September, the European Commission (Commission) approved, under State Aid rules, the project IPCEI Hy2Use (IPCEI Hy2Use) as the second Important Project of Common European Interest (IPCEI) to support research and...more
BACKGROUND OF THE EUROPEAN COMMISSION PROPOSAL - On 23 February 2022, the European Commission (the Commission) published a proposal for a directive on corporate sustainability due diligence (the Proposal)....more
ANTITRUST AND COMPETITION - European Union General Court Confirms the European Commission’s Ability to Review Certain Transactions Even When They Fall below the European Union and Member States’ Merger Filing Thresholds - On...more
7/29/2022
/ Acquisitions ,
Airlines ,
Antitrust Provisions ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
EU ,
European Commission ,
Foreign Subsidies ,
Investment ,
Mergers ,
Startups ,
Transportation Industry
ANTITRUST AND COMPETITION - The European Commission Reviews Its Informal Guidance Notice - On 24 May 2022, the European Commission (Commission) launched a public consultation to gather feedback from interested parties on the...more
7/20/2022
/ Antitrust Provisions ,
Artificial Intelligence ,
Child Abuse ,
Climate Change ,
Competition ,
Cybersecurity ,
Economic Sanctions ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
Internet Service Providers (ISPs) ,
Lenders ,
Mergers ,
Online Platforms ,
Treaty on the Functioning of the European Union (TFEU) ,
UCITS ,
Vertical Block Exemption Regulation (VBER)
On 15 July 2022, the European Commission (Commission) approved, under state aid rules, the Hy2Tech “Hydrogen” project, as an Important Project of Common European Interest (IPCEI) to support research, innovation, and the first...more
INTRODUCTION - On 21 June 2022, the European Parliament (Parliament) and the Council of the European Union (Council) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD)....more
ANTITRUST AND COMPETITION - The Commission and the German Competition Authority conducted surprise inspections in Germany for suspected abuse of a dominant position in the natural gas sector....more
5/23/2022
/ Antitrust Investigations ,
Antitrust Provisions ,
Competition ,
Digital Currency ,
Digital Marketplace ,
EU ,
Financial Services Industry ,
Germany ,
Green Energy ,
Oil & Gas ,
Online Platforms ,
Personal Data ,
Supply Chain
The European Commission (the Commission) presented on 18 May 2022 details of its plan to repower Europe and to reduce, and ultimately end, Europe’s reliance on Russian fossil fuels (the REPowerEU Plan or the Plan) that was...more