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EU Securitisation Regulation—timeline

EU Securitisation Regulation—timeline This timeline shows key developments relating to Regulation (EU) 2017/2402 (the EU Securitisation Regulation) from January 2024 onwards. For earlier developments, see EU and UK Securitisation Regulations—timeline [Archived]. 2025 Date Source Document Description 1 April 2025 AFME The Joint Associations’ response to the ESMA consultation of February 2025 on the revision of the disclosure framework for private securitisation AFME, Commercial Real Estate Finance Council (CREFC) Europe and International Capital Market Association (ICMA) submitted a joint response to the European Securities and Markets Authority's (ESMA) consultation on revising private securitisation disclosure requirements. The joint response argues against: introducing a simplified reporting regime for EU-originated securitisations before wider reforms, citing concerns about potential changes to private securitisation definitions, continued template-based reporting requirements, and unresolved third-country reporting issues. They propose an alternative approach focusing on supervisory reporting needs while allowing more flexible investor disclosures.See: LNB News 01/04/2025 71. 31 March 2025 EBA Joint Committee Report on the implementation and functioning of the Securitisation Regulation (Article 44) The Joint Committee...

EU operational resilience—timeline

EU operational resilience—timeline This timeline shows key developments relating to EU operational resilience requirements for financial services firms from January 2024 onwards. For earlier developments, see Operational resilience—timeline [Archived] 2025 Date Source Document Description 15 April 2025 FSB FSB finalises the common Format for Incident Reporting Exchange (FIRE) The Financial Stability Board (FSB) has published its finalised format for incident reporting exchange (FIRE), which aims to standardise and streamline cyber and operational incident reporting. Developed with private sector collaboration, FIRE addresses fragmentation in reporting requirements across multiple jurisdictions and supports phased implementation. It is interoperable with existing systems and applicable to a wide range of incidents, including those involving third-party service providers. The initiative promotes convergence in cyber incident reporting, reduces the reporting burden for firms, and improves communication among authorities.See: LNB News 15/04/2025 37. 24 March 2025 European Commission COMMISSION DELEGATED REGULATION (EU) …/... supplementing Regulation (EU) 2022/2554 of the European Parliament and of the Council with regard to regulatory technical standards specifying the elements that a financial...

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Freedom of information request—flowchart

Freedom of information request—flowchart In brief The timeframe for compliance with a freedom of information request is 20 working days, although in certain limited circumstances this can be extended. Upon receipt of a request, an authority should: • record the date on which the request was received • assess the validity of the request • establish whether information of the description specified in the request is held by the authority • estimate the cost of compliance • consider charging a fee • consider whether any exemptions apply • respond to the applicant within the timeframe For information on the freedom of information regime generally, see Practice Notes: • Introduction to freedom of information • Who is subject to the freedom of information regime For an overview of the whole process click here to view or print a separate PDF version. Step 1—Request for information received Click here to view or print the full-size PDF version: Timeframe within which to respond See Practice Note: Compliance with a freedom...

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GB Energy Labelling Regulation (EU) 2017/1369—snapshot

GB Energy Labelling Regulation (EU) 2017/1369—snapshot Title Assimilated Regulation (EU) 2017/1369 of the European Parliament and of the Council of 4 July 2017 setting a framework for energy labelling and repealing Directive 2010/30/EU (GB Energy Labelling Regulation) Entry into force 1 August 2017 Subject Energy labelling, energy efficiency of products In GB mandatory energy labelling is regulated by: • Assimilated Regulation (EU) 2017/1369 (the GB Energy Labelling Regulation) • Energy Information Regulations 2011 (EIR 2011) • Ecodesign for Energy-Related Products and Energy Information Regulations 2021, SI 2021/745 In-scope products have to comply with the information and labelling requirements contained therein. The EU Energy Labelling Regulation (Regulation (EU) 2017/1369) continues to apply in Northern Ireland post-Brexit. For more on the position in Northern Ireland, see Practice Note: What does the Northern Ireland Protocol (Windsor Framework) mean for the application of environmental law? DESNZ and the Office for Product Safety and Standards have produced guidance on energy information for suppliers and dealers setting out the different requirements...

Relief from sanctions—making or opposing an application

Relief from sanctions—making or opposing an application This Practice Note gives practical guidance on how to make or oppose (or defend) an application for relief from sanctions (RFS) under CPR 3.9. In particular, it covers the evidence in support of an application for relief, the evidence in response to a relief from sanctions application, costs issues in relief applications and how to appeal a decision granting or refusing relief. Throughout it offers general practical tips on applying for relief from sanctions. This Practice Note should be read in conjunction with Practice Notes: • How to make an application for a court order (CPR 23) • Relief from sanctions—when is an application for relief required? • Case management—compliance • Relief from sanctions—the courts’ approach • Relief from sanctions—illustrative decisions (from 1 January 2024); and • Interim applications—costs recovery See also Precedents: • Letter requesting consent to application for relief from sanctions • Letter responding to request for consent to relief from sanctions • Draft order for relief from sanctions...

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EU GDPR—standard contractual clauses (SCCs) for compliance with Article 28(3) EU GDPR by Danish supervisory authority

EU GDPR—standard contractual clauses (SCCs) for compliance with Article 28(3) EU GDPR by Danish supervisory authority This is a set of Standard Contractual Clauses (SCCs) for compliance with Article 28(3) of the EU’s General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR), governing relationships between controllers and processors and published by the Danish data protection supervisory authority (the Danish SCCs). It was published following an opinion by the European Data Protection Board (EDPB). The Danish SCCs should not be confused with SCCs relating to international personal data transfers under Chapter V of the EU GDPR. Access the Danish SCCs Click the link below to download the agreement from the EDPB’s website: Standard Contractual Clauses for compliance with Article 28(3) of the EU GDPR published by the Danish supervisory authority (the Danish SCCs) Background As detailed in Practice Note: Supply chains under EU GDPR—arrangements between controllers and processors, Article 28(3) of the EU GDPR requires that controllers and processors put in place a contract which contains certain minimum terms (unless the...

Precedent tax clauses for a 50/50 joint venture agreement

Precedent tax clauses for a 50/50 joint venture agreement 1 Definitions and interpretation 1.1 In this Agreement, unless the context otherwise requires the following expressions shall have the following meanings: Relevant Proportion • means, for the purposes of clause, the maximum proportion of the Company’s [trading] losses [and other amounts eligible for relief from taxation] which is permitted by law to be surrendered to the relevant Shareholder (or member of its Shareholder Group) or, as appropriate, the maximum proportion of the Company’s trading profits against which the Shareholder (or member of its Shareholder Group) is permitted by law to surrender its [trading] losses [and other amounts eligible for relief from taxation]; VAT • means United Kingdom value added tax[ and any other tax imposed in substitution for it OR , any other tax imposed in substitution for it and any equivalent or similar tax imposed outside the United Kingdom]; 2 Tax matters 2.1 [The central management and control of the Company shall be...

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Where a statutory corporation is a holding company and a subsidiary below it is a limited company, would the statutory corporation need to appear on a PSC register of the subsidiary limited company or does it fall outside of the requirements/guidance?

Where a statutory corporation is a holding company and a subsidiary below it is a limited company, would the statutory corporation need to appear on a PSC register of the subsidiary limited company or does it fall outside of the requirements/guidance? A statutory corporation is likely to fall within Companies Act 2006, s 790C(12),

What is the key legislation concerning protection of nesting birds and their hibernation?

What is the key legislation concerning protection of nesting birds and their hibernation? Certain species of animals (including wild birds) are protected at European and national levels from being harmed or disturbed. Similarly, many areas/habitats with distinctive animals (including certain birds) are protected at the international, European and national level. Some of the applicable regulatory regimes are set out below. For more information on species and habitats protection generally, see: Protected areas and species—overview. Domestic Legislation Wild birds are specifically protected by the Wildlife and Countryside Act 1981 (WCA 1981). There are a range of offences provided for within WCA 1981, including it being an offence (subject to specific exceptions) to: • intentionally to kill, injure or take any wild bird • take, damage or destroy the nest of a specified wild bird • take, damage or destroy the nest of any wild bird while the nest is in use or being built • take or destroy an egg of any wild bird • have in one's possession or control...

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Tecnimont must disclose emails in €212m bond dispute

Law360, London: A Russian subsidiary of fertilizer producer EuroChem convinced a court on 13 June 2025 to compel industrial group Tecnimont to produce its communications with the Italian sanctions authority, days after the trial over the €212m bond dispute kicked off.

EBA launches consultation on CRDIV draft RTS for acquisitions in credit institutions

The European Banking Authority (EBA) has launched a consultation on draft regulatory technical standards (RTS) for the acquisition of qualifying holdings in credit institutions made under Article 23(6) of the fourth Capital Requirements Directive (CRDIV). The RTS aim to harmonise the information that proposed acquirers must submit to competent authorities across the EU, requiring them to provide details on their identity, reputation, financial soundness, and a business plan, with additional details required in acquisitions involving control. Acquirers must also demonstrate the legitimate origin of their funding to help assess risks related to money laundering and terrorist financing. The RTS introduce proportionality measures, including exemptions for information already held by the competent authority and reduced disclosure requirements, where the acquirer’s influence is expected to be minimal. A public hearing will be held via conference call on 15 July 2025, and responses must be submitted by 18 September 2025.