The European Commission (Commission) adopted a White Paper on 17 June 2020 dealing with the distortive effects caused by foreign subsidies in the Single Market (White Paper). The White Paper is designed to assist the Commission in preparing for EU legislative proposals to deal with such effects.
EU, Competition & Procurement
The European Data Protection Board (EDPB) has adopted a statement on restrictions on data subject rights in connection with the state of emergency in Member States. The EDPB emphasises that, despite the international crisis, the GDPR remains applicable and allows an efficient response to the pandemic, while still protecting fundamental rights and freedoms.
Commercial & Technology
On 29 May 2020, the European Banking Authority (EBA) published its final report on the Guidelines on Loan Origination and Monitoring (the Guidelines). The Guidelines specify the internal governance arrangements for institutions in relation to the granting and monitoring of credit facilities.
COVID-19
The Supreme Court decision in Bresco Electrical Services Ltd (In Liquidation -v- Michael J Lonsdale Electrical Ltd handed down on 17 June 2020 is both timely and significant given the “new normal” that we are all now operating within.
COVID-19 BelfastOn 15 June 2020, almost four years after the UK voted to leave the EU, there was a video conference between the Presidents of the European Council, the European Commission, the European Parliament and the Prime Minister of the UK.
Brexit
The impact of the COVID-19 pandemic has had an unimaginable impact on day to day life. Our local government has implemented unprecedented measures as all industries adapt to events that change on a daily basis.
COVID-19 BelfastOn 16 June 2020, the European Commission launched a consultation on a new EU strategy to improve and accelerate patients’ access to safe and affordable medicines and to support innovation in the EU pharmaceutical industry.
EU, Competition & Procurement
The Irish government's Roadmap for Re-opening Society and Business sets out the plan for a gradual easing of lockdown restrictions.
COVID-19
As businesses across the EU are receiving State aid due to the COVID-19 crisis, it is worth recalling a decision made by the European Commission on 8 May 2020 dealing with a decision made in 2011 to approve State aid to credit unions in Ireland.
COVID-19Until now, it was possible, but not very likely, that the UK would seek an extension of the Brexit transition period beyond the current deadline of 31 December 2020.
BrexitNational regulators will expect a written pricing process to be developed in respect of UCITS and AIFs. This is if the ESMA proposal of 4 June 2020 directed at national regulators is implemented.
Asset Management & Investment FundsThe UK left the EU on 31 January last. Since then, for example, the UK no longer has members of the European Parliament, ministers attending EU council meetings or the right to nominate judges or commissioners to the EU Court of Justice or the Commission respectively.
Brexit
