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New rights for employees
A number of new employment laws came into force in April 2024 to provide greater flexibility for employees, including enhanced flexible working rights and new leave entitlements.
United Kingdom | Publication | June 2019
On June 21, 2019 the European Commission published two Commission Delegated Regulations, in the Official Journal which supplement the new Prospectus Regulation. The Delegated Regulations will also repeal certain delegated regulations which relate to the existing Prospectus Directive.
Commission Delegated Regulation (EU) 2019/979 relates to regulatory technical standards on key financial information in the summary of a prospectus, the publication and classification of prospectuses, advertisements for securities, supplements to a prospectus, and the notification portal. Delegated Regulation (EU) 2019/979 is in the same form as the final draft text published by the Commission on March 14, 2019 and will apply from July 21, 2019.
Commission Delegated Regulation (EU) 2019/980 addresses the format, content, scrutiny and approval of prospectuses. Delegated Regulation (EU) 2019/980 is in the same form as the final draft text published by the Commission on March 14, 2019 and will apply from July 21, 2019.
(Commission Delegated Regulation (EU) 2019/979 – Regulatory technical standards)
On June 24, 2019 the European Securities and Markets Authority (ESMA) published a survey which aims to gather evidence on potential short-term pressures on corporations stemming from the financial sector. Considering the impact of short-termism forms part of ESMA’s work on sustainable finance and relates to the European Commission’s Action Plan on “Financing Sustainable Growth”.
ESMA considers short-termism to be the focus on short time horizons by both corporate managers and financial markets, prioritising near-term shareholder interests over long-term growth of the firm. With the survey, ESMA is seeking to collect information on market practices and the views of financial market participants. Responses to the survey will contribute to ESMA’s analysis of potential sources of undue short-termism on corporations with an aim of identifying areas in which existing rules may contribute to mitigating undue short-termism and areas where the rules may exacerbate short-term pressures.
The consultation seeks feedback from stakeholders on areas, including
The survey also provides respondents with the opportunity to raise any additional considerations on the topic of undue short-term pressure on corporations from the financial sector which they have not been able to reflect elsewhere in the survey.
Responses to the survey should be received by July 29, 2019 and ESMA is expected to deliver a report to the European Commission based on its findings by December 2019.
(ESMA: Consultation on short-term pressure on corporations, 24.06.19)
On June 25, 2019 the Financial Services and Markets Act 2000 (Prospectus) Regulations 2019 (the Regulations) were published. The Regulations make amendments to the Financial Services and Markets Act 2000 (FSMA) (and to certain related legislation) to ensure that such legislation is compatible with the new Prospectus Regulation. The Regulations come into force on July 21, 2019.
In summary, the Regulations
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A number of new employment laws came into force in April 2024 to provide greater flexibility for employees, including enhanced flexible working rights and new leave entitlements.
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On 24 April 2024, the European Parliament voted to adopt the long-awaited EU Corporate Sustainability Due Diligence Directive (CSDDD or the Directive).
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We are delighted to announce that Al Hounsell, Director of Strategic Innovation & Legal Design based in our Toronto office, has been named 'Innovative Leader of the Year' at the International Legal Technology Association (ILTA) Awards.
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