News & Analysis as of September 18, 2024

Financial Services Industry

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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 -

Regulatory monitoring - August 2024

A&O Shearman on 9/4/2024

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) EU - EBA: Opinion on measures in accordance with Article 458 CRR following a notification by the De Nederlandsche Bank - Status: Final - The EBA has...more

Mobility@McDermott: Monthly Update (04/2024)

McDermott Will & Emery on 5/3/2024

1. “No re-export to Russia” clauses become mandatory for certain contracts within the EU - As of March 20, 2024, so-called “no re-export to Russia” clauses have become mandatory for certain types of contracts concluded by...more

Von Zahlungsdienstleistern bis zu Profifußballvereinen: Neue EU-Vorschriften zur Bekämpfung von Geldwäsche verabschiedet

McDermott Will & Emery on 4/30/2024

Das Europäische Parlament hat am 24. April 2024 ein neues Gesetzespaket zur Geldwäschebekämpfung verabschiedet, welches das Instrumentarium der EU zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung stärken soll....more

Update für Kryptowerte-Dienstleister: Referentenentwurf zur Überführung nationaler Krypto-Regulierung in das MiCAR-Regime

McDermott Will & Emery on 4/25/2024

Das Bundesministerium der Finanzen (BMF) hat am 5. April 2024 einen Referentenentwurf für zwei Rechtsverordnungen veröffentlicht, die den Übergang der nationalen Krypto-Regulierung in das europäische MiCAR-Regime erleichtern...more

Snapshot: Der deutsche Übernahmemarkt 2023

White & Case LLP on 3/18/2024

Blick auf den Markt und die bedeutendsten Transaktionen - Die Analyse öffentlicher Übernahmen im Jahr 2023 erscheint auf den ersten Blick wie eine Blaupause des Vorjahres. Die bereits 2022 festgestellten Trends bestätigten...more

Mobility@McDermott: Monthly Update (02/2024)

McDermott Will & Emery on 3/4/2024

1. Ruling of European Court of Justice on jurisdiction in product liability case- Another interesting judgment of the ECJ on jurisdiction in cross-border disputes was handed down on 22 February 2024 in a product liability...more

The Informed Board - Winter 2024

Skadden, Arps, Slate, Meagher & Flom LLP on 2/19/2024

The oversight obligations of boards continue to expand. Recent enforcement actions and new laws in areas such as cybersecurity, artificial intelligence and supply chains create new challenges for boards, as we explain in this...more

All Washed Up - What Are the Risks for Firms That Won’t Show Greenwashing the Red Card?

BCLP on 2/13/2024

In recent years, there has been a noticeable increase in green products and the promotion of sustainable objectives across the financial services industry. For example, we have seen much discussion of green loans, green...more

Regulatory monitoring Newsletter - January 2024

A&O Shearman on 2/1/2024

1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) Germany - BaFin: Report on risks in focus 2024 (Report über Risiken im Fokus 2024) Status: Final - BaFin has published its annual report on the risks...more

EU’s Highest Court Issues Major AI Decision With Wide-Reaching Impact

Alston & Bird on 12/20/2023

On 7 December 2023, the Court of Justice of the European Union (CJEU) issued an important decision on how the GDPR governs AI-assisted decisions. The case arose in the financial services context, with the court holding that...more

Mobility@McDermott: Monthly Update (11/2023)

McDermott Will & Emery on 12/4/2023

1. Proposal for EU directive for right to repair no longer covering motor vehicles - The European Parliament’s Internal Market and Consumer Protection Committee has voted on a draft report on the proposed EU directive...more

Regulatory monitoring Newsletter - August 2023

A&O Shearman on 9/5/2023

Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. In addition, we prepare an overview of articles and court decisions published in...more

Mobility@McDermott: Monthly Update - 8/2023

McDermott Will & Emery on 9/5/2023

1. Federal Court of Justice rules on bank’s right of retention after withdrawal from loan and purchase agreements if consumer sells vehicle Germany’s highest civil court, the Federal Court of Justice (Bundesgerichtshof,...more

Implementation of the Credit Servicers Directive in Germany: A game-changer in the NPL-market

White & Case LLP on 8/4/2023

The Directive (EU) 2021/2167 sets out a harmonized regulatory framework for services in relation to non-performing loans and has to be implemented by Member States by 29 December 2023. In Germany, the draft bill of the Credit...more

Mobility@McDermott: Monthly Update - 7/2023

McDermott Will & Emery on 8/2/2023

1. FEDERAL COURT OF JUSTICE RULES ON ASSIGNMENT CLAUSE IN T&CS FOR CAR FINANCING - In April 2023, the German Federal Court of Justice (Bundesgerichtshof, “BGH”) ruled that an assignment clause used by a German captive bank...more

Überarbeitung der AIFM- und UCITS-Richtlinie: Aktueller Stand und Ausblick

McDermott Will & Emery on 2/7/2023

EU-Kommission, Parlament und Rat treten in die entscheidende Phase ihrer Beratungen über eine Neufassung der AIFM- und der UCITS-Richtlinie ein. Änderungen sind insbesondere bei den Themen Auslagerung, Darlehensfonds und...more

Update zum Transparenzregister: Ende der letzten Übergangsfrist zum 31. Dezember 2022 und Neuigkeiten vom EuGH

Hogan Lovells on 12/12/2022

Durch das Transparenzregister- und Finanzmarktinformationsgesetz (TraFinG) wurden im Zuge der Umwandlung des Transparenzregisters von einem Auffang- zu einem Vollregister Übergangsfristen für nun meldepflichtige...more

Brussels Regulatory Brief: April 2022

K&L Gates LLP on 5/23/2022

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

Verordnung über Märkte für Kryptowerte

McDermott Will & Emery on 3/22/2022

Die EU-Kommission veröffentlichte 2020 ihr Paket zur Digitalisierung des Finanzsektors, das auf den Arbeiten des FinTech-Aktionsplans der Kommission aufbaut und neben weiteren Legislativvorschlägen den Entwurf einer...more

Broadened scope of Critical Infrastructure Regulation will increase FDI screening in Germany

White & Case LLP on 1/3/2022

On 1 January 2022, the second amendment to the German Regulation for Critical Infrastructure ("Critical Infrastructure Regulation"/BSI-KritisV) entered into force. It will broaden the definition of Critical Infrastructures,...more

Brexit: OLG München verneint Rechts- und Parteifähigkeit einer in Deutschland verwalteten UK Limited

Hogan Lovells on 12/10/2021

"Brexit means Brexit" – so urteilte das OLG München Anfang August dieses Jahres. Das Gericht hatte über die Parteifähigkeit einer Gesellschaft zu entscheiden, die zwar als UK Limited gegründet wurde aber tatsächlich in...more

ESG in Asset Management: A Global Perspective - October 2021

Latham & Watkins LLP on 10/4/2021

The global asset management community has long been among the leaders in recognising the investment and risk management benefits of tracking the environmental, social, and governance (ESG) performance of the assets it invests...more

Regulatory Monitoring - relevant developments regarding German and European regulatory law (UPDATED)

A&O Shearman on 10/4/2021

Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. ...more

Bankenwelt in Aufruhr: Die Unzulässigkeit des AGB-Änderungs-mechanismus – Quo vadis?

Hogan Lovells on 9/21/2021

Der BGH erklärte mit Urteil vom 27.04.2021 (Az.: XI ZR 26/20) auf die Unterlassungsklage des Bundesverbandes der Verbraucherzentralen hin zwei Klauseln in AGB-Banken für unwirksam, die (entsprechend den AGB-Sparkassen) ohne...more

Brexit: Fresh Perspectives - Update

White & Case LLP on 8/3/2021

The UK has left the EU but there remains a vast array of operational and legal issues for businesses to address. See below for our perspectives on the key challenges and opportunities that Brexit presents for different...more

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