Deadline for crowdfunding service providers to transition to the EU’s new crowdfunding regulatory framework

EU – FINANCE  Crowdfunding service providers must transition to the framework provided by the Regulation on European Crowdfunding Service Providers, which came into force on 10 November 2021, by 10 November 2022. The new rules provide standardised requirements across the EU for lending- and investment-based crowdfunding for offers up to €5 million per project owner. Read more

Deadline for CMA to publish its market study into music streaming

UK– COMPETITION The Competition Market Authority (“CMA“) has launched a market study into music and streaming services that will focus on potential harm to consumers as well as any lack of competition in the market caused by current practices. The study will consider how the market influences consumers’ experience and if innovation is being stifled. Read more

CMA and Ofcom joint statement on competition in digital markets

In July 2022, the CMA and Ofcom published a joint statement on the interaction between the regulation of competition and safety in digital markets. This comes as part of the Digital Regulation Cooperation Forum’s (“DRCF“) efforts to improve collaborative action and understanding across regulatory bodies relevant to the digital world. The joint statement covers the … Read more

European Commission publishes revised guidance on the Omnibus Directive

UK – E-commerce On 17 December 2021, the European Commission revised guidance on the interpretation and application of the Omnibus Directive. The deadline for Member States to have all measures and any national amendments implementing the Omnibus Directive is 28 May 2022. The revised version of the guidance focuses on the application of EU consumer … Read more

New ECB PISA Framework for Electronic Payment

EU – Finance From 15 November 2022, the new payment instruments, schemes and arrangements framework (“PISA Framework“) will apply to companies already subject to oversight by the European Central Bank (“ECB“). This will be accompanied by an exemption policy which will dictate to whom the new framework will apply. Unlike its predecessor, the Harmonised Oversight … Read more

More robust advertising restrictions on HFSS products to come into force

UK – Advertising and Marketing The Government has announced that it will introduce both a 9pm TV watershed for HFSS products and restrictions on paid-for HFSS advertising online (including on-demand programme services). These changes will come into effect in January 2024 via the Health and Care Bill 2022. Read more

European Commission to revise Code of Practice against Disinformation

EU – ONLINE PROTECTION AND EDUCATION  The Code of Practice against Disinformation was published in September 2018 and was subsequently signed by Facebook, Google, Mozilla and Twitter, among others. The Code is a self-regulatory document and, following European Commission assessments and reports on adherence, guidance was issued in May 2021 to address shortfalls in the … Read more