Author: Stephanie Heitkemper

Application of the Foreign Subsidies Regulation to tenders looms

The 12th July 2023 marks the date on which the Foreign Subsidies Regulations (‘FSR’) starts to apply, allowing the Commission to start its ex officio investigations. It has now been confirmed that as of the 12th October 2023 the notification obligations (with respect to public procurement procedures) applicable to contracting authorities and bidders will come […]

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Issuers to note: Update to ESEF reporting postponed to 2024

ESMA decision to postpone ESEF RTS amendment On the 15th of May, 2023, the MFSA published a circular informing the market of the European Securities and Markets Authority (ESMA)’s decision to postpone the amendment of the European Single Electronic Format (ESEF) Regulatory Technical Standards (RTS) until 2024. The reasons for ESMA’s decision to postpone said […]

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Unlocking the potential of data – final negotiations awaited on proposed EU Data Act

The European Commission’s proposal for a regulation on harmonised rules on fair access to and use of data (the “Data Act”), originally published on 23 February 2022, was revised and adopted by the European Parliament last month, with the European Council submitting its proposed amendments shortly thereafter, thereby paving the way for negotiations on the […]

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ESMA publishes a Final Report on Guidelines on MIFID II product governance requirements

On 27th March 2023, the European Securities and Markets Authority (“ESMA”) published its Final Report on the Guidelines on Markets in Financial Instruments Directive (“MIFID II”) product governance requirements. The Final Report is mainly aimed at investment firms and credit institutions performing investment services and activities, especially firms which manufacture financial instruments or structured deposits […]

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FIAU Guidance Note: Transaction Monitoring Obligations

On 11 April 2023, the Financial Intelligence Analysis Unit (the “FIAU”) published a comprehensive guidance note on the transaction monitoring obligations of subject persons, specifically aimed at institutions that process payments and similar transactions on behalf of customers, including banks, electronic money (e-money) institutions, payment service providers (PSPs), and merchant acquiring companies.The guidance note provides […]

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Contracting Authorities and tenderers granted revolutionary tools for their procurement activities – Public Procurement Data Space and Big Buyers Initiative

Just a few days ago, the European Commission published its communication titled ‘Public Procurement: A data space to improve public spending, boost data-driven policy-making and improve access to tenders for SMEs’ (2023/C 98 I/01), officially launching the Public Procurement Data Space.The Commission notes that every year in the EU, over 250,000 public authorities spend €2 […]

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