MiFID/MiFIR review: ESMA publishes series of consultation papers on transparency topics On 21 and 23 May 2024, the European Securities and Markets Authority (“ESMA”) published three consultation papers, as part of the ongoing MiFID/MiFIR review.The revised Markets in Financial Instruments Directive and Regulation (known as MiFID III/MiFIR II) came into force on 28 March 2024. The package was finalised amid widespread industry concern at the uncertainty created by apparent misalignments between the Level 1 text of MiFIR as amended, and the Level 2 text, which is yet to be updated, as well as ot ..read more

As we push on into 2024 and towards summer, both the weather and some legal areas are hotting up. This edition of Vital Signs looks in detail at recent developments in four diverse legal areas. First, we review the current risks and trends in commercial contracts in the life science sector. Second, we consider how the law on supplementary protection certificates (SPCs) is developing, including the status of the EU pharma law package, CJEU referrals and national case law at the supreme court level. Third, brace yourself for an important decision in UK law on public procurement and the test for ..read more

The SIAC Annual Report 2023 – key takeaways in year of growth and record caseload In April 2024, the Singapore International Arbitration Centre (“SIAC”) published its Annual Report 2023, recording another year of high caseload and usage of the institution’s services across a broad and diverse geography of jurisdictions.We summarise some of the important highlights from the Report and share our key takeaways.Increase in CaseloadSIAC recorded its second highest caseload since its inception with 663 new cases filed in 2023, comprising 640 (97%) SIAC-administered cases, with the remaining 23 cases ..read more

European hydrogen auctions with a focus on Germany, UK, Denmark, and the Netherlands Hydrogen auctions have emerged across the globe in recent years to subsidise and promote the production and use of renewable hydrogen as an alternative to fossil fuels. The EU, individual member states and the UK have all designed and held their own auction/subsidy schemes to bolster the green hydrogen markets in their respective countries.Green hydrogen (i.e. hydrogen electrolysed from power generated from renewable sources) has a much lower greenhouse gas impact compared to conventional ways of producing hyd ..read more

Violation of EU competition law: Commission fines Mondelez EUR 337.5m for cross-border trade restrictions On 23 May 2024, the European Commission imposed an alarmingly high fine of EUR 337.5 million on the US company Mondelez, one of the world's largest producers of chocolate and biscuit products. The accusations: cross-border trade restrictions between member states of the EU by engaging in anticompetitive agreements or concerted practices and by abusing its dominant position regarding chocolate biscuit products.The European Commission issued a statement with this decision that it will protec ..read more

The European Commission reports on the open and targeted consultations on the SFDR assessment BackgroundThe Sustainable Finance Disclosures Regulation (SFDR1) applies since March 2021 with a view to providing transparency to investors about the sustainability risks associated with their investments and potential adverse impacts such investments have on the environment and society.On 14 September 2023, the European Commission (the EC) published two consultation papers on SFDR. On the one hand, an open consultation on the practical implementation of SFDR aimed at a broader range of stakeholders ..read more

A broader interpretation of "substance or composition" - good news for patentees at the EPO? A recent decision from the EPO Boards of Appeal (T 1252/20) potentially paves the way for more diverse products to be patentable in Europe using the medical use claim format.The background:Article 53(c) of the European Patent Convention (EPC) excludes methods for treatment of the human or animal body by surgery or therapy and diagnostic methods practised on the human or animal body from patentability. However, this does not apply to products, in particular substances or compositions, for use in any of ..read more

Design decision on ‘Sole technical function’ packs a punch – The CJEU breaks down the technical design exclusion in Papierfabriek ruling SummaryIn a case which has been recognised as among the most impactful European design cases of the past year, the Court of Justice of the European Union (“CJEU”) has clarified the principles of ‘sole technical function’ invalidity for registered designs (Papierfabriek Doetinchem BV v Sprick GmbH Bielefelder Papier- und Wellpappenwerk & Co.)This case revolves around a Community design registered by Sprick GmbH Bielefelder Papier- und Wellpappenwerk & ..read more

On your radar | Key employment issues to be aware of internationally We are delighted to share with you our latest and largest edition of On Your Radar, with contributions from 35 countries. As ever, you will find employment law updates covering a diverse range of topical developments, for example:Several countries report changes to their rules on hiring foreign workers – Hungary, Serbia and Romania.Belgium explains that companies with over 50 employees must appoint a person of trust who plays an important role in protecting employees against psychosocial risks in the workplace including ..read more

Transforming the Legal Landscape? The Impact of LLMs Large Language Models (LLMs) are a branch of artificial intelligence (AI) that can generate human-like text based on deep learning techniques. LLMs are trained on massive amounts of textual data, such as books, articles, and websites, and learn to recognise patterns, structures, and relationships within the data. By doing so, they develop the ability to produce text on various topics. The presence of LLMs in the legal sector is increasing and, with this, the ability of lawyers to understand and use LLMs in providing quality advice to th ..read more