Recent Articles

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  21/05/2024

  EU

  Consultation of the European Commission on Vifor's commitments concerning the potential abuse of dominant position due to possible anticompetitive disparagement of iron medicine

  FR

  In response to the Preliminary Assessment stating the potential abuse of its dominant position, Vifor proposed several commitments to rectify the potential competition law infringement. The European Commission had initiated an antitrust investigation in June 2022 against Vifor to determine if it unfairly disparaged its competitor, Pharmacosmos, by spreading misleading information about the safety of its product, Monofer. Vifor Pharma, dominant in several EEA markets, faces accusations of abusing its position, potentially violating competition law. In its proposal, Vifor proposed several commitments...

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  21/05/2024

  Hungary

  EU parliament adopts proposal that modifies financial data access regulation

  On 18 April 2024, the European parliament adopted a proposal for a regulation on harmonised framework for access to financial data – the Financial Data Access Regulation (FIDA), which introduces Open Finance instead of Open Banking based on the Payment Service Directive (PSD2) by broadening the scope of customer data that can be shared based on the customer’s permission. FIDA also creates the Financial Information Service Provider (FISP), which will access and use customer data based on a licence issued by the regulatory authority.The European parliament adopted the FIDA with the following...

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  21/05/2024

  England and Wales

  The Renters (Reform) Bill – Where are we now?

  The aim of the Renters (Reform) Bill was to strengthen tenants’ rights and protection in the private rented sector. At the same time, it was vital to ensure that the Bill recognises and safeguards private and institutional landlord’s interests since failing to do so could cause significant and widespread damage to the rental market. Since the Bill was first published a year ago, there has been ever-increasing criticism from renters claiming that it has been watered down to appease landlords and no longer lives up to its stated intention of creating a fairer private renters market.These...

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  21/05/2024

  China

  New Guidelines Clarify Path to Antitrust Compliance

  In recent years, antitrust compliance has increasingly become a focus point within the PRC regulatory landscape. More than 30 antitrust compliance guidelines have been issued at both, national and local levels in the PRC. On April 25, 2024, the Anti-monopoly and Anti-unfair Competition Commission of the State Council released the new version of the Antitrust Compliance Guidelines for Undertakings (the "New Guidelines"). They provide more detailed guidance and examples on various aspects such as the establishment of sound antitrust compliance management systems, the benefits of establishing such...

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  20/05/2024

  United Kingdom

  ASA rules against Festival Free Bets ad featuring Astrid Wett

  On 15 May 2024, the Advertising Standards Authority (the “ASA”) issued a ruling against Festival Free Bets for a social media post featuring an image of Astrid Wett at Cheltenham racecourse, who is under 25 years old.The ASA has previously upheld rulings where an individual’s social media presence significantly influenced whether an ad appeals to children, as seen in the People’s Postcode Lottery ad featuring Emma Willis, which was held to have a strong appeal to under 18s (read more here).The AdvertisementOn 12 March 2024, a post on Astrid Wett’s X (formerly Twitter)...

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  20/05/2024

  England and Wales

  The FCA’s anti-gre­en­wash­ing rule and guidance: what are the litigation risks for firms?

  The Financial Conduct Authority (FCA) has recently published its finalised guidance on the anti-greenwashing rule, which will come into force on 31 May 2024. The anti-greenwashing rule, in the Environmental, Social and Governance (ESG) Sourcebook, requires all FCA authorised firms to ensure that any reference to the sustainability characteristics of a product or service is:consistent with the sustainability characteristics of the product or service, andfair, clear and not misleading. The guidance is intended to help firms understand and comply with the rule, by setting out the FCA’s...

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