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The new EU Covered Bond Directive: Funding opportunities for European banking groups The new EU Covered Bond Directive (which came into force, together with an EU Regulation, in January 2020 and needs to be implemented in member states by July 2022) contains a discretionary initiative that can, but is not required to be, introduced by ind... New EU prudential regime for investment firms – key aspects and immediate considerations The Investment Firms Directive (IFD) and Investment Firms Regulation (IFR) came into force in December 2019 and apply to all investment firms as defined under the Markets in Financial Instruments Directive II (MiFID II). The IFR will apply across EU membe... COVID-19: new German law provides temporary relief in relation to consumer loans As part of a broader legislative package reacting to the severe economic consequences of the Covid-19 pandemic, the German Federal parliament has adopted a bill dealing with far-reaching relief measures in contract law. Among other issues, this includes t... The Dutch prudential regulator’s measures for banks in response to COVID-19 In March, the Dutch Central Bank (DNB) announced a number of measures for banks in response to COVID-19, in large part following the approach and recommendations of the European Central Bank (ECB) and the European Banking Authority (EBA). The most importa... EP suggest amendments to draft AI and IPR report As AI solutions continue to become more commonplace, what to do about IP rights for AI developments and deployments are becoming more pressing concerns.  Difficult issues are being debated by international organisations such as the World Intellectual Prop... A sense of déjà vu: VAT cuts as a fiscal response to the COVID-19 crisis It was reported that the UK Treasury is considering temporarily cutting VAT rates in a bid to boost consumer confidence. In doing so, it would follow in the footsteps of other European countries, such as Germany, which announced at the start of June that ... Resolution against liquidation in resolution planning: what is the criteria and the potential impact on MREL? Introduction The EU Bank Recovery and Resolution Directive (BRRD) introduced a dual regime for dealing with failed banks: (i) a resolution regime that is harmonised across the EU and applicable to such non-viable banks where such a regime is in the public... Digital Services Taxes: How “rough and ready” could become the new normal The UK’s Digital Services Tax (“DST”), which is a 2% levy on certain revenues derived from search engines, social media services and online marketplaces, is set to apply with effect from 1 April 2020, with the first payments being due in 2021. The UK gove... Digital Services Taxes: How “rough and ready” could become the new normal The UK’s Digital Services Tax (“DST”), which is a 2% levy on certain revenues derived from search engines, social media services and online marketplaces, is set to apply with effect from 1 April 2020, with the first payments being due in 2021. The UK gove... Is your website Brexit ready? The recent publication by the European Commission of a number of updated Brexit stakeholder notices are a timely reminder for organisations to check that their websites will be ready in the event of a no-deal Brexit at the end of the transition period. Fo...