Pre-contractual remedies are on the rise according to the PCRB’s 2022 annual report
A report on the workings of the Public Contracts Review Board (PCRB) in 2022 has been published recently.
Not every mere infringement of the GDPR may result in compensation
2023 marks 5 years since the adoption of the General Data Protection Regulation (‘‘GDPR’’), and whilst the relevant stakeholders have become largely accustomed to it, questions about its interpretation and enforcement still crop up requiring preliminary rulings from the CJEU.
New Guidance: Practical Guidance for Economic Operators: Detecting and Preventing Sanctions Evasion and Circumvention in Trade
Background Economic operators play a vital role in ensuring that the sanctions regime is effective. Non-compliance with the sanctions regime by economic operators will dilute the effectiveness of the sanctions being imposed by the EU,
Malta M&A Watch: Regulation of Foreign Subsidies
Earlier this year, the Foreign Subsidies Regulation (Regulation (EU) 2022/2560 of the European Parliament and of the Council of 14 December 2022 on foreign subsidies distorting the internal market) (the “FSR”) entered into force.
Lithuanian national railway abused its dominant position in the freight market
On 12 January 2023, the Court of Justice of the European Union (CJEU) upheld the General Court’s decision on imposing a fine of around €20 million on the Lithuanian national railway company in the judgement of Lietuvos gelezinkeliai v Commission (Case C-42/21 P).
How easy is it to charter your yacht?
While the idea of chartering luxury yachts to offset operational expenses is great in theory, leasing a yacht can be trickier than one would think and it is advisable that one is properly educated and seeks guidance, to avoid disappointment and unnecessary costs.
FIAU publishes its AML / CFT Supervisory Plan for 2023 – 2024
The Financial Intelligence Analysis Unit (“FIAU”) has just published its AML/CFT Supervisory Plan for the year 2023/2024 (“Supervisory Plan 2023/2024”).
EU Court’s Landmark Ruling: Restricting Financial Ties to Combat Money Laundering and Terrorism Financing
On March 2, 2023, the European Union’s Court of Justice (CJEU) affirmed the legitimacy of penalties and administrative actions levied by the Financial and Capital Market Commission (FKTK) against PrivatBank to mitigate potential involvement in money laundering and terrorist financing.
EU Commission adopts adequacy decision on EU – US Data Privacy Framework
On the 10th of July 2023, the EU Commission adopted its adequacy decision (the “Decision”) for the EU- US Data Privacy Framework (the “DPF”) through which it concluded that those US companies which subscribe to the DPF and adhere to its provisions will ensure an adequate level of protection,
ESMA issues public statement in relation to sustainability disclosures in prospectuses
On the 11th of July 2023, the European Securities and Markets Authority (ESMA) published a statement[1] underlining its expectations with respect to the nature and extent of sustainability disclosures to be included in both equity and debt prospectuses prepared in accordance with the Prospectus Regulation.[2]