The challenges of European AI regulation for the financial sector
Artificial intelligence has enormous potential for financial institutions. Therefore, in addressing its regulation, the aim is to provide a framework of legal certainty to facilitate its adoption and also to address the challenges and risks for the sector, customers and supervisors.
The European Parliament approves the proposal for a directive on the pay gap
The European Parliament approves the proposal for a directive to strengthen the application of the principle of equal pay between men and women with the aim to close the pay gap.
Commission's decision on tax lease partially annulled
On February 2, 2023 the Court of Justice of the European Union (CJEU) partially annulled Commission Decision of 17 July 2013 which declared that the Spanish tax lease system was a state aid scheme and ordered it to be recovered from the investors only.
Directive on corporate sustainability reporting is published
The new EU legislation requires companies to report regularly on the effect of their activities on people and the environment.
Member States must assess the environmental impact of urban development projects on places of historical, cultural or archaeological significance, according to the Advocate General of the CJEU
The Opinion of the Advocate General of the CJEU regarding an urban development project in the historical center of Vienna could create a new line of European case law that provides greater protection for historical, cultural or archaeological heritage.
Publication of the EU directive on improving gender balance on company boards
The new EU rules, which will have to be transposed into national law, promote more balanced representation on the boards of listed companies in all Member States.
The Council of the European Union publishes its Decision on guidelines for the employment policies of the Member States
Member States will take these guidelines into account in determining their employment policies and reform programs, in line with other initiatives to foster sustainability.
The European Council approves EU law to improve gender balance on company boards
The directive lays down that at least 40% of directors of listed companies should be members of the underrepresented sex.
Court of Justice of the European Union rules on protection of employment contracts in pre-pack insolvency procedures
The European Court has issued a sentence of special relevance for the operation and effectiveness of the “pre-pack” insolvency procedures. Specifically, it clarifies the requirements that must be met to respect the rights of workers in the event of business transfers.
Reviews, professional reviewers and bot farms: new obligations for online businesses