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European Union: 5th Anti-Money Laundering Directive Enters into Force

(July 16, 2018) On July 9, 2018, the amendment of the European Union (EU) Anti-Money Laundering Directive (5th AMLD) entered into force. The AMLD obligates certain entities to fulfill customer due diligence requirements when they conduct business transactions and have in place policies and procedures to detect, prevent, and report money laundering and terrorist financing. […]

European Union: Provisional Agreement to Control Illicit Cash Flows in and out of the EU

(June 8, 2018) On May 23, 2018, the Council of the European Union (Council) and the European Parliament reached a provisional agreement on measures to control illicit cash flows in and out of the European Union (EU), in particular a revision of the Cash Controls Regulation (CRC). (European Commission Press Release IP/18/3867, Security Union: Commission […]

European Union: Regulation on Cross-border Portability of Online Content Services in Effect

(Apr. 10, 2018) On April 1, 2018, the Regulation on Cross-border Portability of Online Content Services (Portability Regulation) became applicable across the European Union (EU). The Portability Regulation aims to accomplish seamless access for consumers throughout the EU to online content services, such as Netflix or Spotify, which they subscribe to in their home Member […]

European Union: New EU Legislative Framework to Regulate Financial Markets Enters into Force

(Feb. 27, 2018) On January 3, 2018, the European Union’s (EU’s) Second Directive on Markets in Financial Instruments (MiFID II) entered into force with the main objective of strengthening investor protection and increasing transparency in financial markets. (Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on Markets in Financial […]

European Union: 23 Member States Sign Common Notification to Deepen Defense Cooperation

(Nov. 28, 2017) Member States of the European Union (EU) have taken a formal step toward closer cooperation in defense and security.  On November 13, 2017, 23 of the 28 EU Member States signed a common notification on the Permanent Structured Cooperation (PESCO) on security and defense and submitted it to the High Representative of […]

European Union: Twenty Member States Create European Public Prosecutor’s Office

(Oct. 25, 2017) On October 12, 2017, the 20 European Union (EU) Member States that had agreed to establish a European Public Prosecutor’s Office (EPPO) within the framework of enhanced cooperation adopted a regulation that establishes the EPPO. The EPPO will be in charge of investigating, prosecuting, and bringing to justice the perpetrators of, and […]

European Union: National Legislation Prohibiting Extension of Probationary Period for Civil Servants on Parental Leave Ruled Incompatible with EU Law

(Oct. 4, 2017) On September 7, 2017, the European Court of Justice (ECJ) held that the provision of the Civil Service Act of the German state of Berlin that prohibited extension of the two-year probationary period of a civil servant appointed to a managerial post, even when the civil servant was on parental leave for […]

European Union: “Milk” Cannot Be Used to Market Purely Plant-Based Products

(June 27, 2017) On June 14, 2017, the European Court of Justice (ECJ) held that the term “milk” and other milk product names cannot, in principle, be used to designate a purely plant-based product even if clarifying or descriptive terms indicating the plant origin of the product concerned are used (e.g., tofu butter). The Court […]

European Union: Court Dismisses German Bank’s Challenge Against “Significant Entity” Classification

(June 22, 2017) In a decision issued on May 16, 2017, the General Court of the European Union confirmed the decision of the European Central Bank (ECB) to classify the German State bank Landeskreditbank Baden-Württemberg – Förderbank as a “significant entity.” The bank is therefore subject to direct supervision by the ECB rather than supervision […]