The Department of Business, Enterprise and Innovation has published the general scheme of proposed legislation amending the Companies Act 2014. The Companies and Industrial and Provident Societies (COVID-19) (Amendment) Bill 2020 (the Bill) proposes to introduce temporary measures aimed at mitigating the impact of the COVID-19 pandemic...
Corporate & M&AThe European Commission is currently consulting on a proposal for a new power (the NCT) that would allow them to impose behavioural and structural remedies in markets where they have identified certain competition issues.
EU, Competition & Procurement
Demand for facemasks and Personal Protective Equipment (PPE) has soared due to COVID-19. This seems likely to continue due to Government regulation...
COVID-19
In response to the disruption caused by COVID-19, the European Council has approved an optional six-month deferral period for the rules regarding the mandatory filing and exchange of information on reportable cross-border tax arrangements under DAC6.
COVID-19Some two years after the European Commission published its final draft proposal to introduce collective redress actions for consumers, and after much negotiation and lobbying, the European Parliament and Council negotiators agreed on 22 June 2020 to a reworked proposal allowing consumers to defend their rights collectively.
DisputesThere are few moments in a courtroom as dramatic as when a jury foreman rises to deliver the verdict. Years of legal argument, emotional and financial investment culminate in one climactic moment...
Disputes
We have issued a number of recent publications which have sought to provide comfort and practical guidance around directors' duties in the current uncertain environment. In our note Board Business: Directors’ duties, practical mitigation steps and assessment of financing arrangements, we explored the position of directors of companies with solvency issues and the steps that should be taken by a bo
Corporate & M&AIn this update, we look at some of the most recent developments in the gambling sector...
Betting, Gaming & LicensingDomestically, the Governor and other members of the CBI's leadership team gave important speeches related to the economic outlook due to COVID-19, and focused on the impact of the pandemic for firms, households and the economy as a whole; At European level, ESRB published a number of sector-wide recommendations made in response to COVID-19.
Financial RegulationDomestically, there was a strong focus on consumer protection this month. The CBI issued a Dear CEO letter in relation to unregulated products and associated consumer protection issues; At European level, the EBA announced it has started delivering on the implementation of the new regulatory framework for investment firms, and launched a series of consultation papers...
Financial RegulationDomestically, the CBI published its first Financial Stability Review of 2020, which was coloured by the impact of COVID-19; At European level, the EBA published a number of regulatory technical standards relating to own funds requirements and calculation of stress scenario risk measures under CRR2.
Financial RegulationDomestically, the CBI has published guidance for retail intermediaries on the requirement to hold professional indemnity cover, and has launched a consultation paper on regulations for pre-emptive recovery planning for (re)insurers; At European level, It has also launched a consultation on (re)insurance value chain and new business models arising from digitalisation.
Financial Regulation
