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  06.12.2023

  EU

  EU publishes Directive on distance financial services contracts in Official Journal

  In November 2023, the EU legislator adopted the new Directive regarding financial services contracts concluded at distance.This Directive essentially aims to modernise the existing legal framework governing distance contracts for financial services concluded between a professional and a consumer. For the record, a "financial service" is defined as any service relating to banking, credit, insurance, personal pensions, investments and payments.The European legislator has focused on the following subjects: (i) pre-contractual information, (ii) the right of withdrawal, (iii) the obligation to provide...

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  05.12.2023

  International

  ROAD TO COP28: What to expect?

  With record temperatures sweeping, wildfires raging, and the onset of the hottest week ever documented worldwide in early July, there is much less to be optimistic about the climate change since COP27. Apart from a few vital takeaways - such as the establishment of a Loss and Damage Fund - COP27 had its controversies. Many countries - specifically, developing nations - are frustrated with the slow progress, which some deem no progress at all. With COP27 arguably failing to demonstrate a reassuring plan to put the world on a more sustainable path, focus is now on the upcoming COP28 which will take...

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  04.12.2023

  International

  Hague 2019 and recognition and enforcement of foreign judgments – a welcome step in the right direction

  UK Government confirms entry into Hague 2019On 23 November 2023 it was confirmed that the UK government will sign the Hague Convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (“Hague 2019”).  The decision paves the way to the implementation of an effective and uniform approach for the mutual recognition and enforcement of judgments between the UK and other contracting states, including EU member states (other than Denmark), Ukraine and Uruguay.  The United States, Israel and Russia are also expected shortly to ratify...

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  27.11.2023

  EU

  State aid: Temporary Crisis and Transition Framework extended

  GB FR

  The European Commission has adjusted the timetable for phasing out the provisions of the State aid Temporary Crisis and Transition Framework after sending Member States this proposal for partial adjustment of the timetable for consultation in order to respond to the crisis following Russia's aggression against Ukraine and the unprecedented rise in energy prices.On 23 March 2022, the Commission adopted the State aid Temporary Crisis Framework to enable Member States to act quickly and effectively in adopting aid measures in favour of companies affected by the considerable economic uncertainties,...

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  27.11.2023

  EU

  EU Designs Reform, One Year On: EU Parliament announce Final Form of the New EU Design Legislation

  On 7 November 2023, the EU Parliament published the final form of the updated EU Designs legislation. The new legislation, which takes form through a new Regulation and new Directive, are the Parliament’s response to the EU Commission’s proposal of 29 November 2022. If you have not read our previous Law Now which covered the initial proposals in detail, you can find it here.The new legislation is the biggest shakeup to design rights in over 20 years, and affects both Community Designs (now called EU Registered Designs under the legislation) and nationally registered designs in Member...

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  24.11.2023

  International

  Carbon Border Adjustment Mechanism transition in effect since 1 October 2023

  On 1 October 2023, a two-year transitional period began for implementation of Regulation (EU) 2023/956, which introduces the Carbon Border Adjustment Mechanism (CBAM). CBAM levies punitive CO2 charges against third-country importers of certain goods and only permits CBAM declarants to import these goods into the EU. Although reporting obligations have been imposed for the two-year transition period, CBAM does not fully go into effect until 1 January 2026.A. General InformationFrom 1 January 2026, importers of specific goods from third countries will be required to pay punitive CO2 charges under...

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