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Artificial intelligence is increasingly transforming the Irish job market, and proactive engagement with the forthcoming European Union AI Act, a significant shift in the regulatory landscape for Irish businesses, will be essential for Irish businesses to responsibly harness AI’s advantages and to maintain legal compliance, say lawyers at Pinsent Masons.
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The European Commission’s recently published regulatory technical standards for long-term investments, which granted managers greater flexibility with respect to open-ended European long-term investment funds, should help managers active in the space navigate the mandatory liquidity requirements for long-term investment funds, say Zac Mellor-Clark and Nishkaam Paul at Fried Frank.
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In addition to granting one of the largest trading awards since the Insolvency Act was passed in 1986, the High Court recently introduced a novel claim for misfeasant trading in Wright v. Chappell, opening the door to liability for directors, even where insolvent liquidation or administration was not inevitable, say lawyers at Greenberg Traurig.
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The European Commission's anticorruption proposal, on which the EU Council recently adopted a position, will substantially alter the landscape of corporate compliance and liability across the EU, so companies will need to undertake rigorous revisions of their compliance frameworks to align with the directive's demands, say lawyers at Linklaters.
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The forthcoming EU regulation on digital operational resilience and the U.K. critical third-party regime, by expanding the direct application of financial services regulation to designated technology providers, represent a significant development that is not to be underestimated, say David Berman and Emily Lemaire at Covington.
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Martin Weitenberg at Eversheds Sutherland discusses the European Council’s recently adopted Net-Zero Industry Act and provides an overview of its main elements relevant for net-zero technology manufacturers, including benchmarks, enhanced permitting procedures and the creation of new institutions.
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One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.
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Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.
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In Aercap v. PJSC Insurance, the High Court decided the claimants could not avoid an exclusive jurisdiction clause and advance their case in England rather than Ukraine, and the reasoning is likely to be of relevance in future jurisdiction disputes, say Abigail Healey and Genevieve Douglas at Quillon Law.
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Given newly elected Prime Minister Sir Keir Starmer’s background as a criminal defense lawyer and director of public prosecutions, an administration with strong views on financial crime can be expected, and revenue raising and proceeds of crime recovery are likely to be at the forefront, says Matthew Cowie at Rahman Ravelli.
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A recent HSBC report reveals a number of trends and challenges for global supply chains in the current uncertain geopolitical landscape, and with constant emerging opportunities, companies that can stay informed, be proactive and adapt to change will be well positioned to succeed, says Michelle Craven-Faulkner at Shoosmiths.
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The new Digital Markets Act’s reforms will strengthen the Competition and Markets Authority's investigatory and enforcement powers across its full remit of merger control and antitrust investigations, representing a seismic shift in the U.K. competition and consumer law landscape, say lawyers at Travers Smith.
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Following the Labour Party’s U.K. election win on July 4, the new government has already announced its key missions for economic growth, green investment and tax reform, so affected Financial Conduct Authority-regulated entities should be prepared for change and on the lookout for details, says Rachael Healey at RPC.
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The European Commission’s recent €337.5 million fine of Mondelēz is the latest decision targeting restrictions on EU cross-border trade, and serves as a warning to companies active in the region to check their contracts and practices for illegal restraints, and to perform audits to ensure compliance, says Matthew Hall at McGuireWoods.
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The recently published new U.K. securitization rules will largely bring the U.K.’s nonperforming loan regime in line with the European Union, and together with the success of EU and U.K. banks in reducing loan ratios, reperforming securitizations may feature more prominently in relevant markets going forward, say lawyers at Morgan Lewis.