Antitrust and Competition On 28 November 2024, the European Commission imposed a total fine of €5,737,000 million on a company active in the fashion industry and its largest licensee for breaching Article 101(1) of the Treaty on the Functioning of the European Union by restricting cross-border sales of the fashion brand’s products, as well as sales of such products to specific customer. Sanctions The European Commission has published clarifications on EU companies’ obligation to undertake best efforts to ensure that also their non-EU subsidiaries do not participate in activities that undermine EU sanctions. Financial Affairs The three EU financial supervisory authorities issued their annual report on the functioning of SFDR and the disclosure of principal adverse impacts by financial market participants.
European Commission Adopted Delegated Regulation Postponing Basel III Implementation The European Commission adopted a delegated regulation postponing the applicability of Basel III funds requirements to 1 January 2026. ANTITRUST AND COMPETITION On 28 November 2024, the European Commission (Commission) imposed a total fine of €5,737,000 million on a company active in the fashion industry (Company), which received a fine of €2,237,000, and to its largest licensee (Licensee), which received a fine of €3,500,000, for breaching Article 101(1) of the Treaty on the Functioning of the European Union (TFEU). Article 101(1) TFEU prohibits agreements and concerted practices.
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