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R (Greyhound Board of Great Britain Ltd) v Welsh Ministers [2026] EWHC 670 (Admin) What are the practical implications of this case? The ruling reinforces the constitutional divide between the courts and the legislature. It explains that the scheme and framework of the Government of Wales Act 2006 (GWA 2006) embody that separation of powers, and that any judicial attempt to recognise and enforce a common law obligation on Welsh Ministers to consult prior to introducing legislation in the Senedd would trespass upon that boundary. This is not a departure from established principle; case law has already upheld comparable rules for lawmakers in Scotland and at Westminster. However, this is the first express confirmation of the position for Welsh lawmakers, and the first time this dimension of the GWA 2006 has been analysed in such depth. The court examined earlier
The solution arrived through the United Nations Compensation Commission (UNCC), a quasi‑judicial body handling mass claims, created under UN Security Council Resolution 687. By addressing environmental harm—most notably via its ‘F4’ claim class—the UNCC set a seminal benchmark shaping how international law and contemporary arbitral panels allocate financial responsibility for wartime ecological devastation. With present-day wars in areas such as Eastern Europe and the Middle East bringing dam breaches, strikes on chemical facilities, and the burning of farmland, the UNCC’s legacy endures as an essential reference point for states, global investors, and companies engaged in post‑conflict arbitration. The F4 claims: Quantifying the unquantifiable Prior to the 1990s, mechanisms in international law for war reparations overwhelmingly favoured property loss, foregone earnings, and bodily injury. The natural world was commonly treated as a mute, non-compensable victim of armed hostilities...
Understanding the farming business as a business Many farms still use long-standing structures that arose by habit, not strategy. Sole traders, informal partnerships and outdated partnership deeds are common. While once effective, such setups can cause major issues around succession, tax planning and involving the next generation. A corporate team can take a fresh, business-led view of the farm, asking: Who owns the land and other critical assets? Who manages daily operations? Who carries the risk and who enjoys the return? What is the enduring plan for succession? From this review, the team can confirm whether the current setup is fit for purpose or if an alternative — for example an updated partnership agreement, a company, a limited liability partnership, or a blended model — would better meet the family’s aims. Tax efficiency through joined-up advice Tax sits at the centre of most
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‘ The exception for 'pastiches' provided for in this provision is not a catch-all provision, but covers creations that are reminiscent of one or more existing works, while at the same time exhibiting perceptible differences from them,’ the court ruled. German electronic music group Kraftwerk brought proceedings against Pelham Gmb H, the producer of ‘ Nur Mir’, a 1997 track by German rapper Sabrina Setlur. Kraftwerk objected to the unauthorised use of a two-second fragment taken from the group’s recording ‘ Metall auf Metall’......
US steel imports will face much tighter limits from July 2026 Following an agreement struck by legislators and Member States on 13 April 2026 on a refreshed safeguard regime, duty-free quota volumes will be cut by around 47% to 18.3 million metric tonnes per year, with out-of-quota consignments facing a 50% tariff. Negotiators from the European Parliament and the Council of the European Union had been working to align on a replacement for the existing EU steel safeguard, which ends on 30 June 2026 (see here), intended to ease import pressures while still allowing access for established suppliers. The measure was first introduced in 2018 to stop surges in foreign steel destabilising the European market, largely linked to US tariffs. Among the most disputed elements was the quarterly carry-over of unused quotas; talks fell short of an outright prohibition (see here). For the first year of...
EU financial services developments ESMA publishes translations of its guidelines on submission of periodic information The European Securities and Markets Authority ( ESMA) has issued translations of its guidelines on sending periodic information to ESMA by benchmark administrators, credit rating agencies, and market transparency infrastructures. The guidelines cover: BMAs from third countries recognised in the EU EU administrators of critical benchmarks authorised pursuant to the Benchmarks Regulation ( BMR) EU-registered credit rating agencies ( CRAs) EU-registered data reporting services providers ( DRSPs) under ESMA supervision EU-registered securitisation repositories ( SRs) EU-registered trade repositories ( TRs) Certified CRAs are not in scope. The guidelines specify the information to be provided by BMAs, CRAs, DRSPs, SRs and TRs to support ESMA’s continuing supervisory work, and set out the expected format and the reporting frequency for the various categories of...
EU financial services developments Commission adopts Delegated Regulation specifying RTS in relation to order execution policies of investment firms The European Commission has approved the definitive text of a Commission Delegated Regulation that lays down regulatory technical standards ( RTS). These RTS set out the factors to be considered when drawing up and evaluating the effectiveness of investment firms’ order execution policies under Mi FID II ( Directive 2014/65/ EU). It also annuls Delegated Regulations ( EU) 2017/575 and ( EU) 2017/576. The Delegated Regulation will take effect on the twentieth day after its publication in the Official Journal of the European Union. Source: Commission Delegated Regulation ( EU) .../... supplementing Directive 2014/65/ EU of the European Parliament and of the Council with regard to the regulatory technical standards specifying the criteria to be taken into account in establishing and assessing the...
EU financial services developments EMIR 3: ESMA publishes templates and instructions for Active Account Requirement reporting The European Securities and Markets Authority ( ESMA) has issued the reporting templates and instructions for Active Account Requirement ( AAR) reporting under the European Market Infrastructure Regulation ( EMIR 3). These new templates set out in detail how entities within scope of the AAR must provide the necessary information to their competent authorities. The inaugural AAR submission is due on 31 July 2026 and will cover the period from 25 June 2025—when the AAR became applicable—through to 30 June 2026. Thereafter, reporting will follow a semi-annual schedule, with submissions falling on 31 January and 31 July each year, each covering a 12‑month reference period. ESMA notes that the reporting obligation is intended to deliver a harmonised and efficient approach to AAR reporting across the EU, by...
EU financial services developments EBA consults on simplification measures for supervisory reporting and supervisory benchmarking The European Banking Authority ( EBA) has launched a consultation on a package of proposals designed to significantly simplify and streamline EU supervisory reporting across the framework. Stakeholders are invited to comment on updated Implementing Technical Standards ( ITS) for supervisory reporting and for supervisory benchmarking reporting until 10 July 2026, while submissions regarding IFRS 18-related amendments in FINREP are sought by 10 May 2026 as part of this process......
EU financial services developments EBA consults on exposures to shadow banking entities The European Banking Authority ( EBA) has launched a consultation on updated guidelines that set limits on exposures to shadow banking entities undertaking banking activities outside the regulated perimeter. The revisions intend to align with the EU’s large exposure reporting framework and to bolster risk management and governance practices across institutions......
EU financial services developments Market abuse: Commission adopts regulation on closed periods, the mechanism to exchange order data, and indicators of market manipulation The European Commission has adopted a draft Commission Delegated Regulation amending Commission Delegated Regulation ( EU) 2016/522 with respect to permission for trading during closed periods, register of designated trading venues that have a significant cross-border dimension in the supervision of market abuse, and the indicators of market manipulation. The revisions are intended to strengthen the capacity of competent authorities to detect market abuse and enforce market abuse rules in an increasingly integrated and complex trading landscape. The Delegated Regulation will enter into force on the twentieth day following its publication in the Official Journal of the EU......
EU financial services developments EIOPA publishes technical specifications for small and non-complex insurance undertakings and groups The European Insurance and Occupational Pensions Authority ( EIOPA) has issued technical specifications for small and non-complex undertakings ( SNCUs) and groups ( SNCGs). The paper is intended to help firms and supervisory authorities identify which entities qualify for the new simplified framework and to set out how the relevant risk indicators should be calculated. Its purpose is to support a consistent roll-out of the new framework across Member States from the date the amended Solvency II Directive comes into effect. The document also outlines particular cases where EIOPA indicates that further clarification could be helpful. Sources: EIOPA publishes technical specifications for small and non-complex insurance undertakings and groups Technical specification for the calculation of criteria for Small and Non- Complex Undertakings ( SNCUs) and Groups ( SNCGs) under...
In this issue: Commercial Competition and state aid Data protection and cybersecurity Free movement, immigration and employment Financial services Energy Environment Insurance and reinsurance Life sciences Regulatory Restructuring and insolvency TMT International trade Daily and weekly news alerts New and updated content Trackers and horizon scanners Commercial BEUC warns the Parliament’s Digital Omnibus on AI dilutes consumer safeguards The European Consumer Organisation ( BEUC) says that, after Parliament set out its stance on the Digital Omnibus on AI on 26 March 2026, it warns the draft would markedly erode consumer protections just months after the EU AI Act was finalised. Under Parliament’s approach, numerous consumer-facing AI systems would no longer fall within the EU AI Act’s high-risk tier, as many would be reclassified. As a result, AI-enabled products might escape key compliance obligations and core conformity requirements in practice. BEUC adds that, rather than streamlining the framework, this would breed regulatory fragmentation by leaving AI-specific hazards in products governed by sectoral EU...
EU financial services developments Council of the EU publishes statement supporting payment services digital transformation proposal ( PSD3) The Council of the EU has released a legislative financial statement accompanying the proposals for a Directive and a Regulation on Payment Services in the Internal Market ( PSD3)......
EU financial services developments ESMA calls on firms to prepare for consolidated tapes go-live The European Securities and Markets Authority ( ESMA) has issued Q& As covering how data contributors will be onboarded to the EU’s consolidated tapes ( CTs), and the operational requirements for consolidated tape providers ( CTPs). The aim is to give greater certainty to all market participants ahead of the CTs’ go-live for bonds and equities. From go-live, trading venues and Authorised Publication Arrangements are legally obliged to supply data to CTPs. ESMA indicates it expects the relevant contributors to start engaging with the selected CTPs before those providers obtain formal authorisation, so that the data transmission arrangements are ready in advance of go-live. Such co‑operation may involve agreeing transmission protocols and running connectivity and end‑to‑end tests. ESMA also expects the selected CTPs to establish suitable measures to protect the...
Meta Platforms, Tik Tok, X and Amazon are now well used to the steady rhythm of enforcement under the EU's content-moderation law, but are increasingly encountering private actions that seek remedies for alleged shortcomings. Such claims were always envisaged by the EU's Digital Services Act ( EU DSA), operating alongside public oversight by the European Commission and national regulators, and they are now emerging as a growing exposure for Big Tech platforms. Most of the EU DSA lawsuits disclosed to date have been brought by advocacy groups and consumer organisations in Germany and the Netherlands, and have been filed in national courts (see here, here and here). As a result, these first decisions take effect only at the national level. One example is a recent Dutch ruling in summary proceedings that compelled Meta to offer Facebook and Instagram users a...
EU financial services developments EIOPA proposes amendments to ease Solvency II reporting and disclosure requirements The European Insurance and Occupational Pensions Authority ( EIOPA) has issued a report suggesting updates to supervisory reporting and public disclosure under the Solvency II Directive 2009/138/ EC ( Solvency II), aiming to lighten the reporting load on (re)insurance firms while preserving robust oversight. These recommendations appear in EIOPA’s final report and contribute to its efforts to enhance the proportionality, coherence and practicality of the Solvency II reporting and disclosure regime. The revisions seek to simplify obligations and remedy concerns highlighted through supervisory practice and input from stakeholders across the sector and supervisory communities......
EU Member States are facing a challenge to ensure smooth cross-sectoral and cross-border co-operation between the regulators tasked with enforcing the bloc EU's AI law, with no easy solution to navigate the complexity. Timetables for crucial elements of the EU AI Act have already slipped. Most EU countries failed to meet August 2025’s deadline to establish national authorities to oversee rules for high-risk AI systems. Setbacks in creating compliance tools, including technical standards, have led the European Commission to suggest postponing the high-risk regime, thereby granting Member States additional time to ready their governance arrangements. The EU AI Act leaves it to national governments to decide how to organise AI oversight, resulting in enforcement duties being spread across a mix of data protection authorities, telecom regulators, cybersecurity agencies and other regulatory bodies. “ The institutional structures vary in each country, and we need to...
EU financial services developments ESAs publish spring 2026 joint risk update The three European Supervisory Authorities—the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority (together, the ESAs)—have released their spring 2026 Joint Committee assessment on risks and fragilities in the EU financial system. It highlights issues stemming from persistent geopolitical strains and shifts in private finance. Despite the unsettled geopolitical backdrop, the ESAs report that European financial markets have continued to display notable resilience......
EU financial services developments MEPs adopt new bank resolution and depositor protection rules As part of the crisis management and deposit insurance ( CMDI) review, EU MEPs have approved fresh rules to widen the coverage of the EU framework for the orderly resolution of failed banks, aiming to limit economic disruption and safeguard depositors. The package seeks to expand the range of banks captured by the EU’s bank failure legislation, providing stronger protection for taxpayers’ money. It also intends to equip authorities to handle prospective bank failures more effectively and to harmonise depositor protection across the EU......
In this issue: Competition and state aid Data protection and cybersecurity Free movement, employment and immigration Financial services Energy Environment IP Life sciences TMT International trade Daily and weekly news alerts New and updated content Trackers and horizon scanners Competition and state aid Antitrust— General Court awards damages for Commission’s failure to pay interest following annulment of Airfreight cartel decision The General Court delivered its rulings in Cases T-310/21 Air Canada v Commission and T-313/21 SAS Cargo Group and Others v Commission, seeking damages and, in the alternative, annulment, arising from the Commission’s refusal to pay interest after the General Court set aside its 2010 Airfreight cartel decision in 2015 by that court. Accordingly, the General Court partially upheld the claims for compensation. See News Analysis: EU Competition law—daily round-up...
EU copyright rules may not require a full overhaul to address challenges posed by AI A European Commission official indicated that a sweeping rewrite might be unnecessary, hinting that stronger enforcement and better implementation could suffice. “ It is premature to say whether a fresh legal instrument is required,” said Emmanuelle du Chalard, who leads the EU executive’s copyright unit, at an event in Brussels. She added: “ One can envisage regulatory steps that would not fundamentally replace the current framework.” “ We do not need to invent new rights or fresh exceptions; instead we can devise updated rules to enhance how existing rights are exercised and enforced.” The Commission is assessing how well the 2019 Copyright Directive functions, especially given emerging tensions between rights holders and AI firms. An external study is in progress, with publication also anticipated before the end of the year. The...
EU financial services developments ECB’s Piero Cipollone discusses potential launch of a digital euro The European Central Bank ( ECB) has released a speech from executive board member Piero Cipollone outlining preparations for a possible digital euro. Cipollone described the ECB’s continuing programme for the project, highlighting key plans to embed inclusion and accessibility from the outset, initiatives to drive innovation, measures to integrate the digital euro within the wider European payments landscape, and the progress of pilot activities currently under way......
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When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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