CBI confirms notification requirements for UK investment managers acting for Irish entities following the end of the Brexit transition period.
Asset Management & Investment FundsEU, Member States and US regulators are increasingly scrutinising the effect and antitrust behaviour of Big Tech in the digital age and by reference to Big Tech's use of data.
EU, Competition & ProcurementOn 3 December 2020, the Department of Justice published the much anticipated report into the ‘Structures and Strategies to Prevent, Investigate and Penalise Economic Crime and Corruption'.
White Collar CrimeThe European Commission recently published draft Article 28 Standard Contractual Clauses for use between controllers and processors located within the European Union.
TechnologyThe European Commission recently published its new draft Standard Contractual Clauses (SCCs) for international transfers of personal data to third parties located outside of the EEA.
TechnologyThis week saw the release of the long awaited "Review of the Administration of Civil Justice Report" (The Report). The Report was produced over a number of years by a group of judges and key stakeholders in the legal system with former President of the High Court Mr. Peter Kelly chairing the committee.
Disputes
A revised and updated Work Safely Protocol has now been published. It applies to all sectors and sets out the minimum health and safety measures required in every workplace to prevent the spread of COVID-19
COVID-19By 1 January 2021, the Brexit transition period will have come to an end; whilst there may be a lot of uncertainty moving forward into the New Year, the UK government are now outlining the changes that will occur regarding the UK's public procurement process.
BrexitDomestically, the CBI published the second motor insurance report of the National Claims Information Database, an update on prudential regulatory flexibility measures, and a financial stability note on differential pricing; At European level, EIOPA published updated monthly technical information for Solvency II Relevant Risk Free Interest Rate Term Structures
Financial RegulationDomestically, the CBI is to provide a fast-track process for SFDR prospectus updates; At European level, ESMA launched a consultation on marketing communications under the Regulation on facilitating cross-border distribution of collective investment undertakings.
Financial RegulationDomestically, the CBI published a letter to the management of all financial service providers identifying significant shortcomings in firms' compliance with the fitness and probity regime; At European level, the EBA has set out its expectations on how money laundering and terrorist financing risk should be considered by prudential supervisors.
Financial RegulationDomestically, the CBI issued its latest markets update, updated its prudential flexibility measures for investment firms and published the outcome of a thematic review of compliance by MiFID-authorised investment firms with best execution requirements for consumers; At European level, ESMA launched a consultation on market data obligations
Asset Management & Investment Funds
