Auditors welcome greater protection for whistleblowers in the EU

A proposed system to protect persons reporting breaches of EU law – known as whistleblowers – could increase their legal rights in all Member States and give citizens a central role in ensuring EU rules are applied in the context of their work, according to a new Opinion from the European Court of Auditors. The … Continue reading Auditors welcome greater protection for whistleblowers in the EU

EU adopts tougher rules on money laundering

On Thursday 11 October, the Council adopted a new anti money laundering directive. This directive introduces new criminal law provisions which will disrupt and block access by criminals to financial resources, including those used for terrorist activities. The new rules include: establishing minimum rules on the definition of criminal offences and sanctions relating to money laundering. Money laundering … Continue reading EU adopts tougher rules on money laundering

Advocate General’s Opinion in Case C-493/17 Weiss and Others

Advocate General Wathelet proposes that the Court of Justice should rule that the decision of the ECB establishing a programme for the purchase of government bonds on secondary markets is valid. By decision of 4 March 2015, the European Central Bank (ECB) put in place a secondary markets public sector asset purchase programme (‘PSPP’). The … Continue reading Advocate General’s Opinion in Case C-493/17 Weiss and Others

Antitrust: Commission invites comments on Transgaz commitments concerning natural gas exports from Romania

The European Commission invites comments on commitments submitted by Transgaz to address competition concerns regarding the free flow of natural gas from Romania. The commitments would aim to enable natural gas exports from Romania to other Member States, in particular Hungary and Bulgaria. Commissioner Margrethe Vestager, in charge of competition policy, said: "Natural gas consumers across … Continue reading Antitrust: Commission invites comments on Transgaz commitments concerning natural gas exports from Romania

The unfairness of an unclear contractual term which places the exchange rate risk on the borrower and does not reflect statutory provisions may be subject to judicial review

In February 2008 Ms Ilyés and Mr Kiss concluded with a Hungarian bank a credit contract for the provision of a loan denominated in Swiss francs (CHF). According to the contract, although the monthly repayment instalments were to be paid in Hungarian forints (HUF), the amount of those instalments was to be calculated on the … Continue reading The unfairness of an unclear contractual term which places the exchange rate risk on the borrower and does not reflect statutory provisions may be subject to judicial review

European Commission presents comprehensive approach for the modernisation of the World Trade Organisation

The EU's approach to the World Trade Organisation (WTO) reform outlined in a document published today will be presented to EU partners in Geneva on 20 September during a meeting on that subject convened by Canada. The European Commission has today put forward a first set of ideas to modernise the WTO and to make … Continue reading European Commission presents comprehensive approach for the modernisation of the World Trade Organisation

The General Court of the EU upholds restrictive measures adopted by the Council against a number of Russian banks and oil and gas companies in connection with the crisis in Ukraine

Since 31 July 2014, the Council has, in response to Russia’s actions to destabilise the situation in Ukraine, adopted restrictive measures against a number of Russian banks and undertakings which specialise in the oil and gas sector. Those measures impose restrictions on certain financial transactions and on the export of certain sensitive goods and technologies, … Continue reading The General Court of the EU upholds restrictive measures adopted by the Council against a number of Russian banks and oil and gas companies in connection with the crisis in Ukraine