News & Analysis as of October 19, 2024

EU Directive

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Recent Developments in E.U. and U.S. Human Rights Law Signal an End to Voluntary Corporate Standards

Foley Hoag LLP - Global Business and Human... on 8/12/2024

Over the next few years, lawmakers and regulators in many jurisdictions will deepen their implementation of new human rights laws that impose significantly higher compliance burdens on companies. Concerns over whether...more

New EU Cyber Rules: Implementation of NIS2 in the EU Member States

Mayer Brown on 8/5/2024

The Network and Information Security 2 Directive (EU) 2022/2555 ("NIS2") entered into force on 16 January 2023. NIS2 sets cyber rules for organizations whose services are considered essential or important for maintaining...more

EFRAG Publishes First Implementation Guidance Documents for CSRD Reporting

Latham & Watkins LLP on 6/19/2024

This guidance aims to support the preparation and analysis of reports using the European Sustainability Reporting Standards. On 31 May 2024, EFRAG published the first three Implementation Guidance (IG) documents relating...more

European Council Officially Adopts New AML/CFT Package

The Volkov Law Group on 6/19/2024

On May 30, 2024, following passage by the European Parliament in late April, the European Council officially adopted a set of rules that modernizes and harmonizes money laundering and terrorist financing (“AML/CFT”)...more

The EU’s NIS2 Directive: Covered Entities, Compliance Monitoring, Risk Management, Incident Reporting, and Penalties

Ogletree, Deakins, Nash, Smoak & Stewart,... on 6/17/2024

In response to the increasing number of cyberattacks and the acceleration of digital transformation across sectors, the European Union has revised and improved its Network and Information Security (NIS) Directive. The...more

Walking the Tightrope: EU’s Sanctions Enforcement Directive Puts Violators on Notice

Sheppard Mullin Richter & Hampton LLP on 5/22/2024

In a bold move to tighten its sanctions enforcement, the EU rolled out Directive 2024/1226, establishing minimum rules for defining criminal offenses and penalties related to the violation of EU sanctions. Effective May 19,...more

EU Enacts New Directive Establishing Criminal Offenses for the Violation of Restrictive Measures

The Volkov Law Group on 5/15/2024

On April 24, 2024, the European Union (“EU”) officially adopted Directive (EU) 2024/1226 on the definition of criminal offenses and penalties for the violation of Union restrictive measures and amending Directive (EU)...more

EU Parliament Approves Supply Chain Sustainability Rules

Latham & Watkins LLP on 4/26/2024

On 24 March 2024, the European Parliament approved the Corporate Sustainability Due Diligence Directive (CSDDD) with a vote of 374 in favour (compared with 235 votes against and 19 abstentions)....more

EU Whistleblower Protection Directive Essentials

NAVEX on 1/2/2024

Following the introduction of the EU Whistleblower Protection Directive on December 21, 2021, EU member states and institutions have been working diligently to incorporate the regulations into their existing national laws....more

The EU Corporate Sustainability Reporting Directive is (Almost) Here. Is Your Company Ready?

The Volkov Law Group on 11/15/2023

On January 1, 2024, the long-awaited EU Corporate Sustainability Reporting Directive (“CSRD”) begins to take effect. The CSRD is intended to redefine corporate social responsibility expectations for both in-scope companies...more

Change to UK Insider Dealing Laws: A Step Towards Coherence

Goodwin on 4/19/2023

On 17 April 2023, HM Treasury (HMT) published the draft Insider Dealing (Securities and Regulated Markets) Order 2023 (the Order) and an explanatory memorandum. The Order brings the list of securities captured under the...more

Cyber laws will be updated to boost UK’s resilience against online attacks

BCLP on 12/30/2022

The UK government confirmed on 30 November 2022 that there will be changes to the UK’s cybersecurity regulations in response to a public consultation launched earlier this year. This follows recent updates relating to the...more

New Whistleblower Protections in France: Considerations for Companies

Latham & Watkins LLP on 10/27/2022

Companies operating in France should implement or adapt their reporting mechanisms to comply with the new requirements. On 1 September 2022, new protections for whistleblowers in France entered into force. The protections...more

FATF Compliance - EU Confirms No Additional AML-CFT Measures for Cayman

Conyers on 7/29/2022

The Cayman Islands recently introduced measures to further improve its technical compliance with the 40 Financial Action Task Force (“FATF”) recommendations relating to anti-money laundering and countering the financing of...more

European Parliament and Council Reach Political Agreement on CSRD

Latham & Watkins LLP on 6/24/2022

The Corporate Sustainability Reporting Directive expands the existing sustainability reporting requirements and brings more companies under its scope. On 21 June 2022, the European Parliament and European Council reached...more

EU Commission proposes to strengthen criminal law to protect the environment

White & Case LLP on 1/11/2022

On 15 December 2021, the European Commission adopted a proposal for a new EU Directive1 aimed at tightening compliance with EU environmental laws through the introduction of new criminal offences, increased sanctions and...more

Implications of European Whistleblower Protection Directive on Israeli Companies

Barnea Jaffa Lande & Co. on 7/13/2021

By October, companies in the European Union employing at least 50 employees will be required to operate an internal reporting system for reporting misconduct that may indicate compliance violations. Furthermore, all companies...more

Doing Business in the European Union | Reporting Systems and the Importance of Culture & Language

Kilpatrick on 6/30/2021

In this video recap, Kilpatrick Townsend Partner Scott Marrah discusses key elements of reporting systems and the importance of culture & language. --- On March 3, 2021, Kilpatrick Townsend partnered with the Association of...more

Doing Business in the European Union | EU Directive, Following Up With The Whistleblower

Kilpatrick on 6/23/2021

In this video recap, Adria Perez and Julia Arbery discuss ways to follow-up with whistleblowers while validating the reporting process. --- On March 3, 2021, Kilpatrick Townsend partnered with the Association of Corporate...more

EU Whistleblower Directive: 2021 Deadline Looms For Large-Sized Companies

NAVEX on 9/17/2020

Almost one year after its adoption by the European Parliament, more than half of the EU’s 27 Member States have started transposing the EU Whistleblower Protection Directive into national law. Now, little over 14 months...more

The Basel AML Index 2020: Across the Globe, Weak Oversight and Dormant Enforcement Systems. A Guest Blog.

Ballard Spahr LLP on 8/20/2020

AML Standards May Exist in Theory, But Often are Not Enforced in Practice - Today we are very pleased to welcome, once again, guest bloggers Gretta Fenner and Dr. Kateryna Boguslavska of the Basel Institute on Governance...more

Additional Compliance for the Art World

BCLP on 1/16/2020

Individuals, trusts and companies buying or selling art via UK galleries and auction houses will now be subject to the same customer due diligence checks as those opening bank accounts in the UK. What has changed? The...more

Construction 2020: United Kingdom

BCLP on 8/2/2019

Foreign pursuit of the local market - If a foreign designer or contractor wanted to set up an operation to pursue the local market, what are the key concerns they should consider before taking such a step? Originally...more

Chapter 18: Relationships with other laws – Unlocking the EU General Data Protection Regulation

White & Case LLP on 4/27/2019

Why does this topic matter to organisations? The GDPR is now the main instrument governing EU data protection law across all Member States. The Directive, which was almost 20 years old, has been repealed. However, the...more

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