In May 2022 the European Commission (EC) adopted the Vertical Block Exemption Regulation (VBER) and the new accompanying Vertical Guidelines (Guidelines). See GT Alerts, The New VBER and Vertical Guidelines Explained: Key Takeaways, June 2022 and Distribution Agreements in the EU: Changes After VBER and Accompanying Guidelines are Revised, November 2021. The VBER continues
On 10 May 2022, the European Commission adopted the long-awaited new Vertical Block Exemption Regulation (VBER) and the new accompanying Vertical Guidelines (Guidelines). The VBER entered into force on 1 June 2022 and is valid for 12 years. It allows for a one-year transitional period for existing agreements to align with the VBER and Guidelines.
For companies subject to U.S. economic sanctions regimes, compliance is complicated by Regulation (EC) No 2271/96 (EU Blocking Regulation), which was updated in 2018 in light of the U.S. position on Iran. An illustration of this can be found in the recent judgement by the Court of Justice of the EU (CJEU) (Grand Chamber) in
On Nov. 17, 2021, the European Commission adopted a proposal for a Regulation on Deforestation-Free Products. The purpose of the regulation is to ensure that only “deforestation-free” and legal – according to the laws of the country of origin – products are allowed on the EU market.
The EU’s Vertical Block Exemption Regulation (VBER) and accompanying Guidelines on Vertical Restraints of the European Commission (Guidelines), dated from 2010, are currently under evaluation, with the EU Commission having published its long-awaited Draft VBER and Draft Guidelines on 9 July 2021.
This GT Alert expounds on the implementation of the Dutch register of ultimate beneficial owners (UBOs) of trusts and similar legal arrangements (trust register). The obligation to arrange a trust register derives from the Fifth Money Laundering Directive ((EU) 2018/843) (5MLD). The aim of the trust register resembles the aim of the UBO register;
In 2014, the European Commission adopted rules for audit reform in the EU. A statutory audit certifies the financial statements of companies or public entities. Public-interest entities (PIEs) are listed companies, credit institutions, insurance undertakings, or other undertakings designated by EU countries to be of public importance.
Commercial agency agreements in the European Union apply where a legal or actual person (the agent) is vested with the power to negotiate and/or conclude contracts on behalf of another legal or actual person (the principal), either in the agent’s own name or in the name of the principal, for the purchase or sale of
Terecht is in het artikel ‘Witwascontroles monden uit in juridische strijd om bankrekening’ opgemerkt dat de banken het veel ondernemers moeilijk maken een bankrekening te krijgen of te behouden. Zij staan onder grote druk om boetes te vermijden en moeten daartoe perfecte klantdossiers kunnen overleggen (FD, 10 augustus). Dat geldt echter ook voor
To secure the transparency required to fight money laundering and terrorism financing pursuant to the EU Anti-Money Laundering (AML) Directives, the Netherlands will now implement a public register of Ultimate Beneficial Owners (UBOs). On June 23, 2020, the Dutch Senate adopted the implementation act needed to create this UBO register.
The Act may