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Indirect Auto Lending Anti-Discrimination Regulation Meets the Congressional Review Act

Indirect Auto Lending Anti-Discrimination Regulation Meets the Congressional Review Act

With the stroke of a pen, President Trump nullified the 2013 informal guidance on “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act” (Guidance) issued by the Consumer Financial Protection Bureau (CFPB or Bureau)—now preferring to be known as the Bureau of Consumer Financial Protection—when he signed into ... Read More »

Amendments to regulations on notification of concentration clearance in Lithuania. Concentration clearance permits will be required less frequently

Amendments to regulations on notification of concentration clearance in Lithuania. Concentration clearance permits will be required less frequently

As from 1 January 2018 the intended concentration must be notified to the Competition Council of the Republic of Lithuania and its permission must be obtained where the combined aggregate turnover of the undertakings concerned in the business year preceding the concentration is more than EUR 20 mln. and the ... Read More »

PSD2, new legislation for innovative payment services

PSD2, new legislation for innovative payment services

Introduction Payment Services Directive 2 (Directive 2015/2366/EU; PSD2) is the revised European payment services directive. PSD2 is intended to modernise the statutory framework, improve payment traffic within Europe, and create space for new and innovative parties entering the market that can contribute to a more effective and transparent manner of ... Read More »

The European Court of Justice has ruled on unfair commercial practices that took place after consumer agreements were entered into

The European Court of Justice has ruled on unfair commercial practices that took place after consumer agreements were entered into

In the European Union member states are required to provide national legislation that prohibits a trader to acts unfairly towards a consumer if he carries out commercial practices that are not in line with the required competence and care requirements. According to the law, each act, omission, behaviour, representation of ... Read More »

Draft Bill for the Revision of the Law on Payment Services

Draft Bill for the Revision of the Law on Payment Services

The law makes payment initiation services and account information services subject to regulatory supervision by the Federal Financial Supervisory Authority (BaFin). Furthermore, there will be stricter authentication requirements when making online payments. On February 8, 2017, the federal government adopted a bill to implement the Second Payment Service Directive. It ... Read More »

Sustainable Development in the Swedish Financial Market

Sustainable Development in the Swedish Financial Market

In the last couple of years, development of a sustainable society and environment has become increasingly important within the financial market. For example, such development includes avoiding investments in fossil fuels and instead focusing on sustainable alternatives. In 2015 European politics discussed and drew up new goals on the subject, ... Read More »

Information Regarding Active and Passive Activity in Swedish Fund Management

Information Regarding Active and Passive Activity in Swedish Fund Management

The fund market consists of both active and passive managed funds (UCITS and AIFs) available for purchase. Simplified, active management involves an individual manager, co-managers, or a team of managers managing the funds by investing the means of the fund in different financial instruments. A passively managed fund is an ... Read More »

Federal Government adopts draft law for the implementation of the Second Payment Services Directive (PSD II)

Federal Government adopts draft law for the implementation of the Second Payment Services Directive (PSD II)

The law makes payment initiation services and account information services subject to regulatory supervision by the Federal Financial Supervisory Authority (BaFin). Furthermore, there will be stricter authentication requirements when making online payments. On February 8, 2017, the federal government adopted a bill to implement the Second Payment Service Directive. It ... Read More »

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