Freshfields Risk & Compliance

July 30, 2021

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UK Supreme Court re-affirms that liquidated damages provisions survive termination of a contract

At A Glance

This past month, the Supreme Court overturned the Court of Appeal’s decision in Triple Point Technology Inc v PTT Public...

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Christopher Robinson Charles Mondelli Emilio Salice

July 30, 2021

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FCA Business Plan 2021/2022: is the regulator set to continue its assertive streak?

The FCA has published its business plan for 2021/2022. This sets out its priorities for the coming financial year (and beyond) and is...

Katie Palms Olivia Swales

July 30, 2021

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The SFO's 10th DPA – the price of right (and wrong) – Part 1

On 1 July 2021, the Serious Fraud Office (SFO) entered into its 10th deferred prosecution agreement (DPA) with an English engineering...

Christopher Robinson Laura Feldman

July 29, 2021

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FCA’s “Dear CEO” letter on AML failings at UK Firms

FCA sets out themes it has identified from recent assessments of retail banks’ financial crime systems and controls

The FCA has...

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July 26, 2021

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EBA publishes revised guidelines on sound remuneration policies

On 2 July 2021, the European Banking Authority (EBA) published the final report on its guidelines on sound remuneration policies...

July 26, 2021

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UK Pension Schemes Act 2021: moral hazard powers update

At a glance

Over the last few weeks there have been two key developments in relation to the widening of the UK Pensions Regulator’s (the

July 22, 2021

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UK Government consults on major shake-up of competition and consumer law regimes (part 2)

The Government has published its long awaited consultation on a wide range of proposals to reform the UK consumer law regime.

The...

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Sharon Malhi Sarah Jensen Rikki Haria Fredrik Hellstrom George Lumbers

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July 22, 2021

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UK Government consults on major shake-up of competition and consumer law regimes (part 1)

The UK government has proposed an extensive set of reforms to the competition law regime, together with proposed new powers to regulate...

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Marcel Michaelis Daniel Travers Marius Raetz Janina Heinz Victor Garcia Lopez Eugene McQuaid

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July 20, 2021

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EU publishes legislative package to overhaul anti-money laundering and counter-terrorist financing legislation

Combating money laundering has long been high on the EU’s legislative agenda. In our May 2020 blogpost, we outlined the European...

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July 19, 2021

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Whistleblowing in the EU – less than six months to go before the directive’s implementation deadline!

2021 is an important year for speak up culture in Europe as member states are due to implement the 2019 EU directive on whistleblower...

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David Mendel Amy Rentell

July 16, 2021

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WorkLife2.0: step 4 of the UK government's roadmap – a gradual return to the workplace?

Last week, the UK Prime Minister confirmed that step 4 of the 'roadmap', a step-by-step plan to ease COVID-19 restrictions in England,...

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Hans-Ulrich Klöppel Alexander Glos

July 16, 2021

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German financial supervisor as consumer protection enforcer – recent judgment stresses the priority of the Federal Court of Justice’s case law

The German financial supervisor BaFin is becoming increasingly involved in the enforcement of consumer protection legislation. For...

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Joanna Goyder James Aitken Gian Luca Zampa

July 15, 2021

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Updating EU rules on competitor cooperation: call for stakeholder input

The European Commission has for some time been working on revamping its rules on cooperation between competing businesses (often called...

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Joanna Goyder Tone Oeyen Alex Potter

July 15, 2021

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Proposed EU distribution rules for the digital age

On 9 July the European Commission published its proposals for updated distribution rules, consisting of a revamped Verticals Block...

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Holly Insley Kate Pumfrey

July 15, 2021

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Regulators publish discussion paper on diversity and inclusion in the financial sector

On 7 July 2021, the Bank of England, Prudential Regulation Authority (“PRA”) and Financial Conduct Authority (“FCA”) published “DP 21/2...

July 15, 2021

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UAE anti-money laundering/counter-terrorist financing compliance and enforcement: recent and future developments

Given the UAE’s central role in the global trade of oil, gold and diamonds, it faces significant anti-money laundering (AML) and...

Nina Bayerl

July 14, 2021

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COVID-19 patent waiver: EU at odds

Europe has of late been simultaneously dealing with vaccination campaigns, the Delta wave, sun-seeking holidaymakers and a major...

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Priti Lancaster George Swan

July 14, 2021

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Insurance regulation: Part VII guidance consultation - 14 July 2021

The Financial Conduct Authority (FCA) is consulting on proposed updates to its Finalised Guidance, FG18/4: The FCA’s approach to the...

Marius Raetz

July 12, 2021

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Are client funds protected? EU reviews Deposit Guarantee Scheme Directive

In a move that may surprise some market participants, the European Commission – in its current review of the Deposit Guarantee Scheme...

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Jean-Francois Gerard Laura Llangozi

July 7, 2021

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WorkLife 2.0: EU proposes new transparency measures aimed at closing the gender pay gap

Equal pay between men and women for equal work or work of equal value (‘equal pay’) has been one of the founding principles of the EU and...

Amr Omran

July 7, 2021

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Recent changes to UAE bankruptcy law: the impact on the construction industry

Following the substantial impact of the COVID-19 pandemic on global trade and business operations in the UAE, the Government of the UAE...

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Olivier André Stephanie Mbonu

July 6, 2021

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Freshfields wins inaugural GAR Green Arbitration Award

On July 1, 2021, Freshfields received the 2021 Campaign for Greener Arbitration Award for Sustainable Behavior at the Global Arbitration...

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Andrew Austin Alex McGregor Morag Elwis Deirdre Trapp Lily Elliott

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July 6, 2021

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'Nudge and sludge' policies for UK subscription providers take shape

The UK Competition and Markets Authority (CMA) recently announced that two leading anti-virus software companies have voluntarily offered...

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Christoph H. Seibt Marlen Vesper-Gräske

July 5, 2021

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Fast-forwarding German compliance practice: the effects of the new corporate human rights duties

The adopted German Supply Chain Duty of Care Act ('the Act') has attracted a lot of attention from the legal and business worlds. What...

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Elisabeth Overland

July 2, 2021

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Wholesale Markets Review: Openness, competitiveness and high regulatory standards

With focus on the UK’s role as a global centre for financial services, the much-anticipated post-Brexit UK Wholesale Markets Review has...

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Kate Pumfrey

July 1, 2021

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CRD V Regulatory Technical Standards come into force

On 9 June 2021, the European Commission regulation setting out the Regulatory Technical Standards (RTS) on the criteria for identifying...

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July 1, 2021

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The new standard: German Supply Chain Duty of Care Act adopted

With the final deliberations of the German Bundesrat on 25 June 2021, the German Supply Chain Duty of Care Act (the Act) has officially...

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Christopher Robinson

July 1, 2021

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City Week 2021: financial crime – the latest regulatory and enforcement trends

On day 2 of this year’s virtual City Week event, I was joined by investigators and regulators to discuss the latest developments in...

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