The European Commission recently adopted a legislative proposal package that introduces several changes on payment services in the European Union and, in accordance with the European Commission, seeks to improve competition by opening up payment markets to new entrants, thus fostering greater efficiency and cost-reduction.
Recently, the European Commission adopted decisions against the cartels in Euro and Yen interest rate derivatives, imposing fines to banks and financial institutions. These fines are the highest imposed by the Commission in cartel cases to the present day. These decisions illustrate the intense and added scrutiny to which the financial sector has been subjected by competition authorities in the EU and elsewhere.
Broadly considered, settlement procedures for antitrust breaches in Portugal follow closely the outline of plea-bargaining arrangements existing at EU level. This article reviews the first situation in which the Competition Authority used the settlement proceedings in an antitrust investigation.
Last month, the merger simplification package adopted by the European Commission entered into force. The main objective of this reform is to achieve a greater level of efficiency in merger review and to reduce the administrative burdens for the businesses involved. The most relevant measures introduced by the package include widening the scope of transactions, which may benefit from the simplified procedure, and updating notification forms. The Commission has also revised its guidelines on commitments offered by parties.
This briefing is the first in a series that will look at legal aspects of the Solvency II regime and their implications for firms. It considers the legal framework of Solvency II, how near each element of the framework is to completion and what needs to happen next, how Omnibus II has changed the previously published regime, the transitional relief that firms can expect to get from 1 January 2016, and how Solvency II will be applied to insurers and reinsurers in the UK.
The Personal Data Protection Act 2012 (Act) was passed by the Singapore Parliament on 15 October 2012 and came into effect in Singapore on 2 January 2013. A major component of the Act was to put in place general data protection provisions (Data Protection Provisions) that apply to all organisations operating in the private sector in Singapore. Previously, only limited confidentiality obligations existed in Singapore under certain sector specific legislation.
To prevent losing legal professionals to competitors, here are three major factors that affect retention rates and tips on what you can do to help your best people want to stay with your firm.
If you sense low morale and high anxiety among your staff, take action before the problems spiral out of control. This article contains some legal practice management steps you can take.
This article contains the chapter covering Australia and information regarding enforcement, appeals and damages in that country.
Although it might not be the document most commonly on the minds of nonprofit directors, officers or staff, bylaws form the backbone of governance for nonprofit organizations; they are a very important document. This article covers some of the most important things to remember when drafting bylaws.