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Financial regulatory law update 2019

Several changes to Dutch financial regulatory laws entered into force in January and February 2019. In this article we provide a short summary of these changes.

Commercial interest on overdue interest payments on a loan – uncertainty remains

If a person buys a car from a car dealer and fails to pay the purchase price on the agreed date, that person has to pay not only the purchase price but also statutory interest (Clause 6:119 DCC), unless otherwise agreed.

The ACM follows EU approach in its first pharmaceutical merger

The Dutch Authority for Consumers and Markets (ACM) recently reviewed its first merger between two pharmaceutical companies.

Digitisation and competition law: past, present and future

It is nearly time for the European Commission to reveal its course of action in digitisation and competition law.

The need for speed in mergers is no reason to ignore rights of defence

On 16 January 2019, the European Court of Justice clarified the procedural guarantees the European Commission needs to provide to merging parties during merger reviews.

Legislative proposal for mass damages claims approved by the Dutch House of Representatives

On 29 January 2019, the Dutch House of Representatives approved the legislative proposal that introduces collective actions for damages under article 3:305a of the Dutch Civil Code (DCC). This proposal aims to amend article 3:305a DCC to enable collective

Companies unprepared for increasing cyber risks

Companies increasingly face cybercrime incidents. Stibbe offers tailor-made solutions.

Sweet & Maxwell’s annual EU Competition Law Handbook

The 29th edition of Sweet & Maxwell’s annual EU Competition Law Handbook has been published. 

Dutch Financial Regulators recommend a Dutch national licensing regime for crypto exchange platforms and crypto wallet providers

On 18 January 2019, the Dutch Central Bank (De Nederlandsche Bank, "DNB") and the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten, the "AFM") published their joint advice recommending a Dutch national licensing reg

Wouter den Hollander wins award for finest administrative law publication in 2018

On Friday 19 January 2019, Wouter den Hollander received the award for finest administrative law publication in 2018.

European Birds Directive: deviation schemes with varying success

Both the Belgian and French Councils of State have expressed their views on the application of Article 9 of the Birds Directive. This article allows for a scheme that deviates from the prohibition to disturb, hunt, or kill protected bird species.

Steven Hijink joins Dutch Accounting Standards Board

Steven Hijink has been appointed as one of ten members of the Dutch Accounting Standards Board (DASB), the executive body of the Dutch Council for Annual Reporting.

Special regulation on franchise agreements proposed: more protection for franchisees

On 12 December, a draft legislative proposal ("proposal") was published containing a special regulation on franchise agreements. Until now, there have been no special regulations regarding franchise agreements.

Loyalty rebate scheme 'saved' by pharma company's market misconceptions

The UK Competition and Markets Authority (CMA) recently closed its investigation into a discount scheme by dominant pharma company Merck Sharp & Dohme (MSD) aimed at preventing the National Health Service (NHS) from switching to competing biosimilars.

Don't take the ACM's digital inspection guidelines too literally

The Dutch Authority for Consumers and Markets' (ACM) digital inspection guidelines should be on every company's reading list. However, they should not be taken too literally; at least according to the recent ruling from the Court of Appeal in The Hague.

What is the Major Accidents (Risk) Decree 2015 and to which companies does it apply?

The Major Accidents (Risk) Decree 2015 (Besluit risico's zware ongevallen 2015) (Brzo) imposes far-reaching and immediate obligations on companies falling under its scope.

Amended governance rules addressing third party funding for collective claim organizations

On 4 March 2019, an amended version of the Dutch "Claimcode" was published. The Claimcode is an instrument of self-regulation, created by parties who are active on the claims market.

Stibbe launches website on the new Netherlands Commercial Court

To coincide with the opening of the Netherlands Commercial Court on 1 January 2019, Stibbe has launched a new website to provide you with the latest developments on this new international court. 

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