Banking

Recent Articles

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  20.03.2023

  Europe

  Out with the old, in with the new? Con­sid­er­a­tions for pat­entees in opt­ing out of the Uni­fied Pat­ent Court

  So far in this series of blog posts, we began with an article that highlighted some of the key changes between the current European system of patent prosecution and enforcement and the new Unitary Patent and Unified Patent Court (UPC), set to become operational from 1 June 2023.  In part two, we considered the interesting procedural features of the UPC and how they might influence a patentee’s decision to opt in or out of the regime.In this part three, we discuss some of the practical and strategic considerations that patentees should weigh up when deciding whether to opt out of the...

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  17.03.2023

  EU

  Mer­ger con­trol re­view be­low fil­ing thresholds – the ECJ Tower­cast judg­ment adds one more ar­row to the quiver

  On 16 March 2023, the ECJ decided that a M&A transaction, which was not subject to ex-ante EU merger control, can be reviewed – from an ex post perspective – as to whether the acquirer (through the acquisition) abused its dominant position within the meaning of Article 102 TFEU (prohibition of the abuse of a dominant position). This allows national competition authorities to apply Art. 102 TFEU to non-notifiable mergers. The judgment therefore provides competition authorities in the EU with a significant additional tool for their scrutiny of transactions, which are not reportable...

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  13.03.2023

  Turkiye

  Turk­ish cent­ral bank pub­lishes Guideline on data shar­ing in pay­ment ser­vices

  On 30 December 2022, the Central Bank of the Republic of Turkey (“CBRT”) published the Guideline on Data Sharing Services in Payment Services, which examines data-sharing services in payment services (“DSSPS”) included in the scope of open banking (i.e. when the customer has provided the third party provider with access to the data in the financial system). To this end, the Guideline assesses common business models for payment-initiation and account-information services (also regarded as DSSPS) regarding whether these models require an operating licence, and offers guidance...

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  10.03.2023

  Singapore

  Re­cip­roc­al en­force­ment of for­eign judg­ments in Singa­pore: An up­date

  This article is produced by CMS Holborn Asia, a Formal Law Alliance between CMS Singapore and Holborn Law LLC.The long-anticipated repeal of the Reciprocal Enforcement of Commonwealth Judgments Act 1921 (“RECJA”) came into effect on 1 March 2023 (the “Repeal”). On the same date, amendments to the Reciprocal Enforcement of Foreign Judgments Act 1959 (“REFJA”) came into force, and judgments from reciprocating Commonwealth countries which were previously governed by the RECJA will now be governed by the REFJA. These amendments expand the scope of the REFJA and,...

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  10.03.2023

  Europe

  Se­cur­ity for costs in en­force­ment pro­ceed­ings in Ger­many – The Ger­man Fed­er­al Su­preme Court adds an­oth­er piece to the puzzle

  Pursuant to Sec. 110 of the German Civil Procedure Code (ZPO), claimants who do not have their habitual place of residence in a member state of the EU/the EEA can be ordered to provide security for the costs upon request of the defendant if certain requirements are met. The provision aims at protecting the defendant from the difficulties related to the recognition and enforcement of a cost decision abroad.While Sec. 110 ZPO is designed for ordinary civil actions, it is recognised that the provision applies to other types of (state court) proceedings if the requirements of an analogous application...

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  09.03.2023

  International

  CMS Ex­pert Guide to ESG Com­pens­a­tion

  Incorporating ESG KPIs into directors’ remunerationThe urgent need to place sustainability at the heart of company strategy is inextricably linked to incentives provided to its directors and employees. This Expert Guide aims to provide practical insights into key market practices and trends aimed at incorporating sustainability and/or Environmental, Social and Governance (“ESG”) KPIs into directors’ remuneration.The regulations and recommendations on ESG-related remuneration vary considerably from sector to sector and from country to country. The trend is, however,...

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