Recent Articles

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  16/05/2024

  United Kingdom

  A Roadmap to the Overseas Funds Regime

  HM Treasury and the FCA jointly published a Roadmap on 1 May 2024 for implementing the Overseas Funds Regime (the “OFR”).  This follows on from the FCA’s December 2023 Consultation Paper on Implementing the OFR (see our previous article on this here). Who does this impact?Operators of EEA UCITS funds (excluding money market funds (“MMFs”)) that either are within the Temporary Marketing Permissions Regime (“TMPR”), or who wish to market to UK retail investorsUK Distributors of non-UK UCITS funds (excluding MMFs) with a UK retail...

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  15/05/2024

  United Kingdom

  From redundancy to recovery: workplace mental health

  During Mental Health Awareness Week, 13 – 19 May 2024, employers are encouraged to reflect on best practices for supporting their employees' mental health. This is particularly relevant for employers who have recently been through or who are engaged in redundancy processes. Evidence shows that investing in the mental health of employees is crucial. Not only does it contribute to a more positive work environment and employee well-being, but it also enhances productivity, morale, and retention rates.In this Law-Now, we explore the mental health challenges of the retained employee population...

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  15/05/2024

  EU

  The European Commission reports on the open and targeted consultations on the SFDR assessment

  BackgroundThe Sustainable Finance Disclosures Regulation (SFDR1) applies since March 2021 with a view to providing transparency to investors about the sustainability risks associated with their investments and potential adverse impacts such investments have on the environment and society.On 14 September 2023, the European Commission (the EC) published two consultation papers on SFDR. On the one hand, an open consultation on the practical implementation of SFDR aimed at a broader range of stakeholders with a more general knowledge of SFDR (the Open Consultation). On the other hand, a target consultation...

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  15/05/2024

  Netherlands

  Dutch court rules losses to online gamblers must be repaid

  In two judgments in April 2024, the Dutch District Court Overijssel ruled in favour of two online gamblers who filed suit against two online gambling companies. The online poker players sought refunds of their losses on gambling sites because the sites were not licensed under Netherlands law and were operating illegally.BackgroundThe cases concern two players who had lost money on poker sites between 2006 and 2019. One case involved 15 years of online activity while the other case covered only two years. The money was paid by the players to two online gambling companies based and licensed in Malta...

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  15/05/2024

  Romania

  Romania unveils state aid scheme to boost private investments

  The Romanian government has introduced a EUR 450 m state aid scheme to incentivise investments across key sectors of the Romanian economy.The core objective of this initiative is to provide non-repayable funding to private enterprises undertaking investments with a substantial impact on the economy. These investments must surpass the threshold of RON 50 million (EUR 10 million) in eligible costs and focus on innovation and sustainability. The scheme is designed to stimulate economic growth by supporting ventures aligned with Romania's long-term development goals.To qualify for funding, companies...

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  14/05/2024

  Hungary

  EU introduces criminal offences and penalties for sanctions violations

  Criminal offencesUnder the Directive, the following conduct constitutes a criminal offence when committed intentionally and in violation of restrictive measures or a national provision implementing restrictive measures:making funds or economic resources available directly or indirectly to, or for the benefit of, a designated person, entity or body;failing to freeze funds or economic resources belonging to or owned, held or controlled by a designated person, entity or body;enabling designated natural persons to enter into, or transit through, the territory of a EU member state;entering into or continuing...

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