Yesterday, the European Union implemented its eighth round of sanctions on Russia in response to Russia’s claimed annexation of Ukrainian territory. This latest package includes expanded import and export restrictions, an initial implementation of an EU price cap on the
Changes on the European chessboard
Russia is no longer a partner of the European Union; Ukraine has been accepted as a candidate member; the United States supply weapons and advanced intelligence to an ex-Soviet Union member; NATO is back on the front stage; the UK
EU Emergency Action on Energy
On 6 October 2022, the Council of the European Union adopted a Regulation on an emergency intervention to address high energy prices (the “Regulation”). The Regulation was published in the Official Journal of the European Union on 7 October. The
President Xi Will Hold Onto Power, BUT . . . .
At least once a day, someone — usually a client — asks me whether President Xi will hold onto power. And every day, I give a much shorter version of the following half-serious, half-facetious answer:
He will hold onto power,
EMIR related Delegated Regulations published in OJ
On 7 October 2022, the following Delegated Regulations relating to the European Markets Infrastructure Regulation (EMIR) were published in the Official Journal of the EU (OJ):
- Commission Delegated Regulation (EU) 2022/1855 of 10 June 2022 supplementing EMIR with regard to
EBA updates on the monitoring of total loss-absorbing capacity and minimum requirement for own funds and eligible liabilities instruments
On 7 October 2022, the European Banking Authority (EBA) has issued its latest monitoring report regarding total loss-absorbing capacity and minimum requirement for own funds and eligible liabilities (TLAC/MREL). The report provides policy views based on TLAC/MREL instruments assessed up
Commission Notice on the interpretation of certain legal provisions of the Disclosures Delegated Act under Article 8 of EU Taxonomy Regulation on the reporting of eligible economic activities and assets
On 6 October 2022, there was published in the Official Journal of the European Union (OJ) a European Commission Notice on the interpretation of certain legal provisions of the Disclosures Delegated Act (Delegated Regulation 2021/2178) under Article 8 of EU
U.S. Treasury Adopts Final Corporate Beneficial Ownership Reporting Rule
Last week, the Financial Crimes Enforcement Network of the Department of the Treasury adopted a final rule (the “Final Rule”) to implement the beneficial ownership reporting requirements of the Corporate Transparency Act, part of the Anti-Money Laundering Act of 2020.
How to Serve Process in Georgia
[Ahem… we’re talking here about the European nation with Tbilisi as its capital– not the American state between Alabama and the Atlanta Atlantic Ocean.]
As of January 1, 2022, the Hague Service
Futures: German regulator prohibits marketing to retail clients
The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) makes use of its product intervention powers under the European Markets in Financial Instruments Regulation (MiFIR): Under a general administrative act (Allgemeinverfügung) dated 30 September 2022 (link to English