The OCC issued two interim final actions preempting the Illinois Interchange Fee Prohibition Act, causing the Seventh Circuit to vacate and remand related proceedings to the district court.
OCC Preempts Illinois Interchange Fee Law
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Saudi CMA Amends Rules on Board Member Removal and Profit Distribution
The amendments grant listed companies greater flexibility in determining distributable profits and establish clear controls for the removal of board members by the general assembly.
By Salman Al-Sudairi, Basil Al-Jafari, and Hatem Abdulghaffar
Key Points:
- Shareholder removal of
European Commission Releases New EU Deforestation Regulation Measures
The measures include a new delegated act on scope, updated FAQs, and an updated guidance document.
By Michael D. Green and James Bee
Key Points:
- The Commission has unveiled a package of EUDR measures aimed at providing guidance and easing
EBA Consults on Simplifications to ESG Reporting Requirements
EBA is seeking to develop uniform reporting formats, frequencies, and instructions to ease the reporting burden on EU banks.
By Betty M. Huber, Axel Schiemann, Anne Mainwaring, and Charlotte Collins
Key Points:
- Ad hoc reporting of ESG
English High Court: Legal Advice Privilege Can Extend to Intra-Client Communications and Documents
A new ruling in Aabar v. Glencore clarifies that legal privilege can apply to non-lawyer communications between authorised client personnel in certain circumstances.
By Oliver Middleton and Duncan Graves
Key Points:
- The High Court in Aabar v. Glencore ruled that
EPA’s Draft Sixth Contaminant Candidate List Targets Microplastics and Pharmaceuticals in Drinking Water
EPA’s decision, paired with a newly unveiled research program from the Department of Health and Human Services, increases scrutiny on these emerging contaminants.
By Julia A. Hatcher, Tom Lee, Hunter J. Kendrick, and Casey Lynn Kirk
On
European Packaging and Packaging Waste Regulation: Summary of Provisions and New Guidance
PPWR provisions include requirements on recyclability, minimum recycled content, labelling, packaging minimisation, reuse, and refill-related obligations.
By Michael D. Green, James Bee, and Toon Dictus
Key Points:
- The PPWR includes sustainability and labelling requirements across the entire packaging
FCA Consultation on Cryptoasset Perimeter Guidance: Key Points for DeFi and Web3 User Interfaces and Wallets
The guidance defines certain regulated cryptoasset activities broadly, potentially placing onerous authorisation obligations on DeFi and web3 user interfaces and wallets.
By Stuart Davis, Gabriel Lakeman, Brett Carr, Cameron Jones, and Imaan Nazir
On 15 April
UK Regulators Confirm First Wave of Changes to the SMCR
The FCA and PRA have finalised Phase 1 reforms to ease the SMCR’s administrative burden on firms, while HM Treasury confirmed future legislative changes.
By Becky Critchley, Nicola Higgs, Rob Moulton, and Charlotte Collins
Key Points:
- The
UK Government Consults on Shake-Up to Corporate Civil Enforcement Regime
The consultation proposes broad changes to the four-decades-old regime, including greater powers for the UK Insolvency Service and a new director “restrictions” regime.
By Pamela Reddy and Matthew Unsworth
Key Points
- The consultation proposes that the Insolvency Service should have