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If one word sums up a key trend in financial crime enforcement in 2024, it would be fraud, as enforcement agencies clamped down on consumer-focused crime — and businesses will need to be prepared to play a part in 2025 with the coming of the "failure to prevent fraud" offense, says Jessica Parker at Corker Binning.
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A U.K. court's decision this month in Banco De Sabadell v. Cerberus provides critical lessons for practitioners involved in drafting and litigating cross-border investment agreements, and offers crucial insight into how English courts apply foreign law in complex cross-border disputes, says Josep Galvez at 4-5 Gray's Inn.
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The new European Commission appears poised to build on the artificial intelligence, data management and digital regulation groundwork laid by President Ursula von der Leyen's first mandate, with a strong focus on enforcement and further enhancement of previous initiatives during the next five years, say lawyers at Steptoe.
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The European Commission’s recent record-breaking €463 million fine of Teva for abusing its dominant position confirms that European Union competition law enforcement in the pharmaceutical sector remains a priority, with infringements drawing serious financial exposure, say lawyers at Cooley.
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With inherent uncertainties in generative artificial intelligence raising antitrust issues that attract competition authorities' attention, the 2024 uptick in transaction reviews demonstrates that regulators are vigilant about the possibility that markets may tip in favor of large existing players, say lawyers at McDermott.
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Artificial intelligence is rapidly transforming the global financial services industry, with a hybrid model likely to evolve where AI handles routine tasks and humans focus on strategy and decision-making, so financial institutions should work with regulators to establish ethical standards and meet regulatory expectations without stifling innovation, say lawyers at Womble Bond.
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Following the recent publication of the National Security and Investment Act report on the scrutiny of proposed investments, it will be interesting to see how the act’s powers fit into a government policy that plans to cut regulatory obstacles, while maintaining a hard line on national security, say lawyers at Katten Muchin.
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In narrowing its scope of application, the U.K. Takeover Panel's forthcoming amended code will have practical implications for U.K.-registered companies and ultimately provide greater market clarity and certainty, say lawyers at Davis Polk.
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The European Commission’s recent decision on the merger between e& and PFF Telecom is the first to approve a transaction subject to commitments under the Foreign Subsidies Regulation, serving as a helpful guide by confirming that behavioral measures ring-fencing EU activities from the potential effect of third-country subsidies are acceptable, say lawyers at Cleary.
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Teresa Ribera Rodríguez’s recent nomination as the new European Union commissioner for competition prompts questions about policy and enforcement, with goals to enhance competition in business, implement stronger and faster enforcement, and promote and fund decarbonization likely in her sights during a five-year term, say lawyers at Linklaters.
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Andrew Tsang and Tom Bacon at BCLP consider the rationale and challenges of a potential U.K. trade settlement acceleration, part of an initiative to modernize the financial market infrastructure, and suggest that incorporating distributed ledger technology as a synchronized recording system would facilitate the move.
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The European Commission’s recent draft antitrust guidelines will steer courts' enforcement powers, increasing the risk for dominant firms engaging in exclusive dealing without any apparent basis to shift the burden of proof to those companies, say lawyers at Latham.
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The Competition and Markets Authority's recent draft merger control guidance, reflecting the regulator's strengthened powers under the Digital Markets, Competition and Consumer Act, introduces extensive change and potential procedural improvements, specifically concerning reviews of private equity firms, say lawyers at Travers Smith.
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New European Commission guidance, addressing procedural questions and finally providing clarity on “distortion” in merger control and public procurement, offers an opportunity to reflect on the year since foreign subsidy notification obligations were introduced, say lawyers at Fried Frank.
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Looking back on the year since the European Union Mobility Directive was transposed into Irish law, enabling Irish and European Economic Area limited liability companies to participate in cross-border deals, it is clear that restructuring options available to Irish companies with EU operations have significantly expanded, say lawyers at Matheson.