The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
In 2021, shortly after Brexit became effective, the UK Intellectual Property Office (IPO) established the “UK+ regime” on the exhaustion of intellectual property (IP) rights with regard to the European Economic Area (EEA)....more
As we approach 2025, both the UK and the European Union are intensifying their efforts to reduce greenhouse gas emissions through their respective emissions trading schemes. Understanding the similarities and differences...more
European Commission Imposes Fine for Restrictions on Cross-Border Sales of Clothing - On 28 November 2024, the European Commission (EC) announced a fine of €5.7 million on Pierre Cardin and its licensee Ahlers for...more
On October 23, the UK Government’s House of Lords had its first reading of a new proposed data protection bill, the Data (Use and Access) Bill (“DUA Bill”), as sponsored by the Department of Science, Innovation, and...more
A draft version of the Collective Investment Schemes (Temporary Recognition) and Central Counterparties (Transitional Provision) (Amendment) Regulations 2024 has been published, alongside a draft explanatory memorandum. The...more
As Jersey is considered from a UK and an EU perspective to be a "third country", it is outside the scope of full compliance with the AIFMD and can take advantage of the NPPR marketing routes. A Jersey domiciled AIFM will...more
Quick Hits Schrems II Recap Most people are now familiar with the Schrems II requirements to “know your transfers” and to protect personal data when such information is subject to processing (including remote access to...more
The text of the Directive amending the Alternative Investment Fund Managers Directive (AIFMD) (AIFMD II) was published on 26 March 2024 and will enter into force on 15 April 2024. AIFMD II introduces, among other changes,...more
At a time of significant geopolitical challenges, many jurisdictions are looking at their investment screening regimes to ensure that they can adequately safeguard national security and public order. Within this context,...more
The Home Office has updated its guide on right to work (work authorization) checks for employers in the UK. Changes coming into effect this month include a less flexible approach to late applications to the EU Settlement...more
(Re)insurance is a global business. It is common for (re)insurance groups to operate in a range of jurisdictions via: i. locally incorporated and authorised subsidiaries, ii. local branches of third country...more
EU’s 12th Sanctions Package - On 19 December 2023, the Council of the European Union (EU) together with the Commission published its 12th round of sanctions....more
The Development: The Screening of Third Country Transactions Act 2023 (the "STCT Act") was signed into law on October 31, 2023, introducing a new investment screening regime in the Republic of Ireland ("Ireland") with a...more
Effective July 10, 2023, the EU-U.S. Data Privacy Framework (“EU-U.S. DPF”) replaced the invalidated EU-U.S. Privacy Shield framework (“Privacy Shield”). Participating U.S. organizations can now receive personal data...more
On July 10, 1962, NASA launched Telstar 1, the first active communications satellite linking Europe and the United States through live television transmission. Sixty-one years later, on July 10, 2023, the European Commission...more
On July 10, 2023, the EU Commission approved the EU-U.S. Data Privacy Framework (“EU-US DPF”) as a valid transfer mechanism for sharing personal data from European Economic Area countries (those in the EU plus Iceland,...more
In July 2016, the European Commission issued a settlement decision finding that five major truck manufacturers participated in an EEA-wide cartel involving collusion on the prices of medium and heavy trucks and the timing and...more
It has long been a mystery to economists, accountants and business people why lawyers have regard to simple interest in commercial cases, in circumstances where companies generally do not (and cannot) borrow money on a simple...more
In light of the increasing number of enforcement incidents under the General Data Protection Regulation (GDPR), organisations active in the Health and Life Sciences sectors in the United Kingdom, the European Union (EU) and...more
On 20 February 2023, the European Securities and Markets Authority’s (“ESMA”) consultation paper (ESMA34-472-373) “Guidelines on funds’ names using ESG or sustainability-related terms” (the “Consultation”) closed to comments....more
The European Data Protection Board (EDPB) adopted a draft report of the work undertaken by the Cookie Banner Taskforce (the Report). The Report describes how regulators apply cookie legislation in handling certain types of...more
Our recent briefing note explained that CE product safety marking, which is required to sell certain types of goods in the European Union, was being replaced by the UKCA mark in Great Britain (GB) following Brexit. The...more
A new legal mechanism to allow for transfers of personal data between the EU and the U.S. is now advancing after an October 7th, 2022 Executive Order was issued by U.S. President Biden (the “Executive Order”). The new...more
Businesses that transfer personal data to and from the United Kingdom will soon have clarity regarding transfers from the UK to recipients outside the EU/EEA. On February 2, 2022, the United Kingdom Secretary of State...more
The European Commission recently adopted an adequacy decision regarding the Republic of Korea’s data protection laws. As a result of this decision, personal data can freely flow between the EEA and South Korea without the...more