Banca

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Artículos Recientes

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    08/04/2024
    Hungría

    Hungary proposes ex-ante competition tool to regulate essential companies

    On 2 April 2024, the Hungarian Ministry of Justice submitted an omnibus act to the Hungarian parliament proposing the amendment of several Hungarian laws, including the Competition Act. This Proposal’s most noteworthy element is – based on the German example – expanding the Hungarian Competition Authority’s (HCA) toolbox by introducing a new ex-ante regime enabling the HCA to impose obligations on certain companies without first having to demonstrate a violation of the law.This following article summarises the Proposal’s new rules, potential consequences and next steps.PROPOSED...
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  •  
    08/04/2024
    Ukraine

    Ukraine discontinues War and Sanctions Portal

    Following a governmental discussion on 19 March 2024, the Ukrainian government announced its decision to shut down a sanctions-related database maintained by the National Agency on Corruption Prevention (NACP).This database, the “War & Sanction Portal”, was created in the first days of Russia's full-scale invasion of Ukraine as part of the implementation of the sanctions plan against Russia (i.e. the Individual Sanctions Roadmap) of the Yermak-McFaul Sanctions Group.Starting with the "International Sponsors of War" section, the Portal was expanded to include additional segments...
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  •  
    03/04/2024
    Luxemburgo

    Modernisation of the Luxembourg law on the insurance sector: what’s new and how does it impact the insurance secrecy regime?

    On 2 April 2024, the law of 29 March 2024 modernising the Luxembourg insurance sector was published in the Official Journal of the Grand Duchy of Luxembourg (the “Law”). The Law will enter into force and start applying as from 6 April 2024.General OverviewThe Law aims at (i) implementing Directive (EU) 2021/2118 of 24 November 2021 relating to insurance against civil liability in respect of the use of motor vehicles, and the enforcement of the obligation to insure against such liability and (ii) amending several laws, notably the law of 7 December 2015 on the insurance sector, as amended...
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  •  
    03/04/2024
    Ucrania

    Register of Damage for Ukraine is open for claims submission

    On 2 April 2024, the Register of Damage for Ukraine opened the claims submission process for compensation for damage, loss or injury caused by Russian aggression against Ukraine. The launch took place as part of the Ministerial Conference "Restoring Justice for Ukraine" co-hosted by the Netherlands, Ukraine and the European Commission at the World Forum in The Hague.As a reminder, the official website of the Register of Damage for Ukraine was launched on 4 March 2024. The website contains the following:documents governing the work of the Register;answers to frequently asked questions on the Register’s...
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  •  
    02/04/2024
    Europe

    ESMA feedback statement on shortening the EU settlement cycle reveals widespread industry concern

    The European Securities and Markets Authority (ESMA) has released a feedback statement summarising comments received from market participants during its consultation on shortening the EU settlement cycle.Under the EU Central Securities Depositories Regulation (CSDR), all transactions in transferable securities and other similar instruments executed on a trading venue must be completed no later than the second business day following the trade date. The CSDR also established a settlement discipline regime, which includes measures to prevent failed settlements.Since its adoption, financial markets...
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  •  
    28/03/2024
    United Kingdom

    UK Cryptoasset Regulation – 2023 developments and what’s to come in 2024 (Part 2)

    In Part 1 of this two-part series, we provided an overview of the myriad developments in the regulation of cryptoasset activities in the UK in 2023 and the first two months of 2024, and looked ahead to what is still to come.In Part 2, we take a step back to assess what these developments mean in the round for cryptoasset businesses providing services in or to the UK, and how that is set to change.A. Overview of the current and future landscapeCurrent position  Key takeawaysNon-security tokens: A business currently needs to be registered...
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