Britain’s legal sector set for significant slowdown in event of no-deal Brexit

Britain – Europe’s biggest international provider of legal services and number two in the world – could take a £3.5bn hit from a no deal Brexit, solicitors' leaders warned yesterday. “According to our estimates, the volume of work in legal services would be down £3.5bn* – nearly 10% lower than under an orderly Brexit,” said … Continue reading Britain’s legal sector set for significant slowdown in event of no-deal Brexit

New solicitors’ protocol for property transactions

The 2019 edition of the Law Society Conveyancing Protocol is out, with details on best practice in residential conveyancing transactions of freehold and leasehold property. “The protocol is a tool which helps conveyancing solicitors to achieve most effectively the transfer of residential property. It aims to provide consistency across transactions and improve efficiency,” said Simon … Continue reading New solicitors’ protocol for property transactions

European Commission takes new step to protect judges in Poland against political control

Yesterday, the European Commission decided to take the next step in an ongoing infringement procedure against Poland, by sending a reasoned opinion regarding the new disciplinary regime for Polish judges. On 3 April 2019, the Commission launched this infringement procedure on the grounds that the new disciplinary regime undermines the judicial independence of Polish judges and … Continue reading European Commission takes new step to protect judges in Poland against political control

New leasehold information rules a big victory for consumers

The endorsement by ministers of proposals to give consumers significantly more information early in the home buying process was today given a partial welcome by the Law Society of England and Wales. “It is encouraging to see government has recognised just how much easier it will be for consumers to make informed decisions if full … Continue reading New leasehold information rules a big victory for consumers

Digital Single Market – European Commission publishes guidance on free flow of non-personal data

Today, the European Commission published a new guidance on the interaction of free flow of non-personal data with the EU data protection rules. As part of the Digital Single Market strategy, the new Regulation on the free flow of non-personal data, which has started to apply in the Member states, will allow data to be stored and … Continue reading Digital Single Market – European Commission publishes guidance on free flow of non-personal data

European Commission fines Barclays, RBS, Citigroup, JPMorgan and MUFG €1.07 billion for participating in foreign exchange spot trading cartel

In two settlement decisions, the European Commission has fined five banks for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies - Euro, British Pound, Japanese Yen, Swiss Franc, US, Canadian, New Zealand and Australian Dollars, and Danish, Swedish and Norwegian crowns. The first decision (so-called “Forex - Three Way Banana Split” … Continue reading European Commission fines Barclays, RBS, Citigroup, JPMorgan and MUFG €1.07 billion for participating in foreign exchange spot trading cartel

Antitrust: European Commission fines AB InBev €200 million for restricting cross-border sales of beer

The European Commission has fined AB InBev €200 409 000 for breaching EU antitrust rules. AB InBev, the world's biggest beer company, has abused its dominant position on the Belgian beer market by hindering cheaper imports of its Jupiler beer from the Netherlands into Belgium. Margrethe Vestager, Commissioner in charge of competition policy, said: "Consumers in Belgium have been paying more … Continue reading Antitrust: European Commission fines AB InBev €200 million for restricting cross-border sales of beer