EU Update
6EU Update – September 2021
On 15 April 2021, EU Advocate General Michael Bobek delivered a pithy opinion on whether the EBA had exceeded its powers in publishing non-binding guidelines on product governance arrangements.2 Given its subject matter, it might come as a surprise that AG Bobek commenced his opinion by quoting Game of Thrones,3 going on to use metaphors such as car factories and chess games to illustrate the various legal conundrums. His figurative prose, however, in no way detracts from the importance of his opinion’s contents. In a tempered tone, AG Bobek touches upon soft law’s status in the EU, discussing incompatible EU jurisprudence and problematic approaches under EU law. Whilst the validity of the EBA’s guidelines were the initial impetus, the opinion ultimately goes to the heart of the status of soft law in the EU, and as such, has broad general relevance extending beyond financial services regulation. This is especially so in an age in which an increasing amount of non-binding guidelines are being issued.
13 June 2024EU Update -May 2021
In this EU Update Mauro Megliani considers the most recent amendments to the ESM Treaty and questions why they fail to mention the ESM Pandemic Crisis Support facility.
13 June 2024ESG Update – October 2021
Despite the important role of small and medium sized enterprises (SMEs) in a sustainable recovery, access to finance remains a key challenge. Here, we examine the role of mainstream sustainable finance in Europe in providing alternative sources of finance for SMEs.
29 May 2024EU Update – April 2023
Aikaterini Theodosopoulou and Vasiliki Papagiannopoulou report on recent developments in EU law. In this EU Update, the authors consider the contested decision by the European Central Bank (ECB) to take over direct prudential supervision of Latvia’s PNB Banka AS.
19 March 2024EU Update – October 2023
In this EU Update, Mauro Megliani considers how the Italian government could ratify the amended ESM Treaty without triggering a requirement for it to restructure its debt.
18 March 2024ESG Update - April 2021
The Poseidon Principles are a set of voluntary guidelines adopted by several institutions in 2019. They establish a framework for assessing and disclosing the climate alignment of ship finance portfolios helping to track and assess the transition of one of the most polluting industries to greener technologies.
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