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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 »

If The Government Wants Us To Lend To Marijuana-Related Businesses They Sure Have a Funny Way of Showing It

If The Government Wants Us To Lend To Marijuana-Related Businesses They Sure Have a Funny Way of Showing It

In the two and half years since Illinois legalized medical marijuana the banking industry remains largely hesitant to bank marijuana-related businesses. This seems true despite a memorandum from the Financial Crimes Enforcement Network (FinCEN) designed specifically to encourage the banking industry to provide, and ease the banking industry’s concerns with ... Read More »

UK’s First Deferred Prosecution Agreement reached following a failure to prevent bribery under Section 7 Bribery Act 2010

UK’s First Deferred Prosecution Agreement reached following a failure to prevent bribery under Section 7 Bribery Act 2010

The Head of the Serious Fraud Office, David Green QC, has announced that the Serious Fraud Office’s (SFO) first application for a Deferred Prosecution Agreement (DPA) was approved by Lord Justice Leveson at Southwark Crown Court on Monday, 30 November 2015. Background The concept of a “deferred prosecution” was introduced ... Read More »

SEC Finally Adopts Federal Crowdfunding Rules: All That Glitters May Not Be Gold

SEC Finally Adopts Federal Crowdfunding Rules: All That Glitters May Not Be Gold

On October 30, 2015, the Securities and Exchange Commission (“SEC”), by a 3-1 vote, adopted the long-anticipated final rules permitting federal crowdfunding (“Title III Crowdfunding”), providing a potentially attractive capital raising vehicle for small startup companies seeking investors via the Internet. Although the rules will not become effective until sometime ... Read More »

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