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On 30 March 2022, the Dutch Central Bank (De Nederlandsche Bank, "DNB") announced that it will start investigations to determine whether financial institutions take sufficient measures to comply with sanction regulations. 

The Luxembourg Business Registers issued an Explanatory Note further detailing the new filing formalities and requirements soon to be applicable with respect to the Luxembourg Trade and Companies Register.

Now that political agreement has been reached on the final text, the Digital Markets Act (DMA) will enter into force soon. The DMA’s ex ante rules and obligations will apply next to the ad hoc EU and national competition rules.

Companies involved in multi-step acquisitions should beware of potential gun-jumping risks. The ACM has fined a trade association for failing to notify the acquisition of four pharmacies involving a consecutive partial resale.

On 22 March 2022, the European Court of Justice (ECJ) offered companies investigated for the same conduct by several authorities clarity on the core principles of the application of the non bis in idem (double jeopardy) protection.

The ICLG to Environment & Climate Change Law 2022 covers common issues in environment and climate change laws and regulations - including environmental policy and its enforcement, environmental permits, waste, liabilities, etc. - in 18 jurisdictions.

On 7 March 2022, the Act implementing the ECN+ Directive into Belgian law was published in the Belgian Official Gazette. The Act entered into force on 17 March 2022.

On 8 March 2022, the law of 25 February 2022 amending the law of 22 March 2004 on securitisation entered into force. This is a welcomed (r)evolution in the securitisation operations in the Grand Duchy of Luxembourg.

Although the right to equal pay of women and men has long been included in anti-discrimination law, there is still a difference in pay between women and men. That is why this subject is high on the agenda of the legislator.

In today’s rapidly changing tax environment, it is important to be aware of all relevant tax developments. In the past months, several new tax rules have been implemented or announced.

Voor inrichtingen waarvoor op grond van de Wabo een omgevingsvergunning milieu is vereist, gelden naast de vergunningvoorschriften ook algemene regels op grond van het Activiteitenbesluit.

As from 1 January 2021, a 20% real estate levy applies to real estate income derived by certain Luxembourg tax opaque investment vehicles owning directly, or indirectly through tax transparent entities, real estate assets located in Luxembourg.

More antitrust clarity has arrived for companies involved in sustainability collaborations. The EC published draft revised rules on horizontal cooperation agreements and the ACM informally approved two green initiatives in the energy sector.

The CSSF published on 31 January 2022 the Circular 22/795 regarding the application of the ESMA Guidelines on marketing communications for Luxembourg investment funds (AIFs, UCITS).

Only months after suspending an investigation into a possible wage-fixing cartel, the Dutch Authority for Consumers and Markets (ACM) has warned employers, employers’ organisations, and trade associations to not engage in no-poach agreements. 

Pharma companies beware: discount schemes by former patent owners raise red flags at competition authorities.

Nothing is more fickle than information exchange: it changes colour under EU competition rules depending on the nature of the relationship between the exchanging companies.