Europe: EU / UK regulatory roundup
A round up of recent regulatory developments in the EU and UK.
With the UK and the wider EU facing the consequences of Brexit, financial services firms globally need to ensure that they understand the impact of Brexit on their business so they can manage the challenges and pursue the opportunities.
We have created the Brexit Pathfinder hub on our NRF Institute to help financial services clients navigate the legal and regulatory implications of Brexit. The hub includes our latest views and analysis on regulatory issues, as well as access to our UK Statutory Instrument tracker.
Also available via the hub is PathfinderPLUS, a subscription-only service providing clients with access to additional, exclusive materials including consolidated versions of the onshore UK legislation.
For Brexit advice, please contact your usual Norton Rose Fulbright contact or one of our core Financial Services Brexit team members below.
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On July 16, 2020, the Court of Justice of the European Union (CJEU) published its decision in the landmark case Data Protection Commissioner v Facebook Ireland Ltd, Maximilian Schrems and intervening parties, Case C-311/18 (known as the Schrems II case).
On July 7, 2020, the Commission de Surveillance du Secteur Financier (CSSF) issued an FAQ document on Circular 02/77 concerning the protection of investors in case of NAV calculation errors and the correction of the consequences resulting from non-compliance with the investment rules applicable to undertakings for collective investment (the FAQ).