European Union
ViDA (VAT in the Digital Age) project: Which of its components will have the greatest impact on the tourism industry?
A new EU directive known as the VAT in the Digital Age (ViDA) package has been published, bringing a major change to the common system of VAT in the European Union, with particular impact on the digital and tourism industries.The European Commission continues unpacking the Artificial Intelligence Act: definition of artificial intelligence system and the general-purpose AI code of practice
On February 6, the European Commission published guidelines to assist the various operators in the artificial intelligence environment to determine whether they are dealing with an artificial intelligence system within the meaning of Regulation (EU) 2024/1689 on artificial intelligence. Additionally, on March 11, it published the third draft of the general-purpose AI code of practice. In the following article, we unpack the key points of both documents.Data Economy, Privacy and Cybersecurity Newsletter - April 2025
In this newsletter, we offer the latest updates on everything related to the data economy, privacy and cybersecurity. We cover the most recent rulings from relevant authorities and agencies, key court decisions, and the most important news in this field.CJEU: a parent company may, 'a priori', be sued in its country for competition infringements committed by its subsidiaries in other Member States
In a relevant judgment on the application of competition law at the European level, the CJEU confirms that, in competition matters, the "presumption of decisive influence" of a parent company over its subsidiary in competition matters allows, in the context of a follow-on action, both entities to be jointly sued in the Member State where the parent company is established.The CJEU establishes the limits that a Member State cannot cross by restricting those damaged by an antitrust infringement from giving up their right to be compensated
In a recent judgment, the CJEU establishes that a national rule that prevents those damaged by an antitrust infringement from assigning their right to compensation would be contrary to Articles 101 of the TFEU and 47 of the Charter of Rights of the European Union when: (i) the law of that State does not provide for other possibilities of grouping the individual claims of those damaged by an infringement of competition; and (ii) the exercise of individual actions for damages by the damaged parties is impossible or excessively difficult.The European Commission presents a Competitiveness Compass, which will simplify the regulatory burden of sustainability reporting, due diligence and taxonomy
One of the targets of the Competitiveness Compass, which will guide the Commission’s work over the next five years, is to reduce the regulatory and administrative burden drastically. In this context, the Omnibus proposal, expected in February, will be designed to simplify the sustainability reporting, due diligence and taxonomy.EU strengthens disclosure of ESG risks in credit institutions with new requirements
Commission Implementing Regulation (EU) 2024/3172 introduces new obligations for credit institutions, which will have to disclose half-yearly information on environmental, social and governance (ESG) risks, as well as on the impacts of climate change. This regulation, applicable from January 2025, aims to improve transparency and consistency in prudential risk management.European Green Bonds are here and come with new post-issuance reporting standards
The regulation establishing a standard for issuers using the designation 'European Green Bonds' (EuGB) is now in effect, but the legislative process is not yet complete: a new delegated regulation, currently under consultation, details all the post-issuance information that must be provided.EU strengthens sustainability in the insurance sector with new risk management obligations
A new European directive introduces the concepts of "sustainability risk" and "sustainability factors" into the risk management of (re)insurers, obliging them to integrate them into their systems and strategic plans. It also relaxes disclosure requirements for small insurers.Data Economy, Privacy and Cybersecurity Newsletter - December 2024
In this newsletter, we offer the latest updates on everything related to the data economy, privacy and cybersecurity. We cover the most recent rulings from relevant authorities and agencies, key court decisions, and the most important news in this field.