The Council of the European Union (EU) has announced that the Committee of Permanent Representatives has endorsed an agreement between the Hellenic Presidency of the Council and European Parliament representatives on a draft directive for the disclosure of non-financial and diversity information by certain large public interest entities in the EU with over 500 employees. The draft directive would require such companies to disclose, annually, a statement of policies, outcomes and risks relating to environmental, social and employee-related matters including a description of its diversity policy, respect for human rights, anti-corruption and bribery matters. Where the company has not pursued such policies, it must explain why.
The United Kingdom Office of Gas and Electricity Markets (Ofgem) has urged large energy suppliers to return credit left in former customers' accounts or, if it cannot be returned, to "use it to benefit customers more generally and to make clear what to do when closing an account, the remaining sums held and the reasons for this".
The Court of Justice of the European Union (CJEU) has handed down its decision in C-351/12 OSA v Léčebné lázně (27 February 2014) regarding the application of Directive 2001/29/EC of the European Parliament and of the Council of 22 May 2001 on the harmonisation of certain aspects of copyright and related rights in the information society (the Directive).
The General Court of the European Union (EGC) has handed down its decisions (both dated 27 February 2014) in two cases relating to cartel activity in the liquid crystal display (LCD) panel market.
The United Kingdom (UK) Financial Conduct Authority (FCA) has banned (24 February 2014) Arnold Eber from the financial services industry after finding that his conduct as chief executive officer of since-dissolved CIB Partners Ltd included the various failures.
Germany's competition regulator the Bundeskartellamt (BKA) has announced that it has fined the following wallpaper industry entities, as well as associated individuals, a total of approximately €17 million for concluding price-fixing agreements:
The European Commission (EC) has announced that it has rendered legally binding certain undertakings by Visa Europe to "facilitate cross-border competition".
The European Commission (EC) has released EC Memo/14/113 (14 February 2014) which sets out the "actions announced and delivered" in the EC's jurisdiction in response to the so-called horsemeat scandal that began to unfold in early 2013.
The United Kingdom Financial Conduct Authority has announced that the High Court has ruled that "two investment schemes, promoted by Capital Alternatives and a number of other firms, were [unauthorised] collective investment schemes". According to the FCA, the defendants "structured their schemes to try to avoid the need to be regulated by the FCA"; however, the High Court has "agreed with the FCA that the schemes ... could not be lawfully operated by the defendants".
Germany's competition regulator the Bundeskartellamt (BKA) has announced that it has fined the following "major German sugar manufacturers" a total of approximately €280 million for "concluding anticompetitive agreements on sales areas, quotas and prices":
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