In July 2019 the European Commission adopted a communication and four reports that will support European and national authorities in better addressing money laundering and terrorist financing risks, underlining that a number of structural shortcomings in the implementation of the Union’s concerning rules still need to be addressed.
On 9 July 2019 Marriott International announced that UK Information Commissioner’s Office (ICO) had communicated its intent to issue a fine in the amount of £99 200 396 against the company in relation to the ‘Starwood guest reservation database’ incident that Marriott announced on 30 November 2018. In this incident a variety of personal data contained in approximately 339 million guest records globally were exposed, of which around 30 million related to residents of 31 countries in the European Economic Area (EEA), while seven million related to UK residents.
On 24 July 2019 the EU Commission published a guidance on the participation of third-country bidders and goods in the EU procurement to ensure the fair competition, high quality and a level playing field. The guidance contains practical advice to public buyers in the Member States and helps them identify which third country bidders have secured access to the EU procurement market. It also helps to review offers efficiently and to tailor their procurements to choose the most innovative, social or green option.
Over one year after the entry of the GDPR into force, on 24 July 2019 the European Commission published a report looking at the positive impact of the EU data protection rules and how they can be improved further.
On 14 September 2019 new requirements for authenticating online payments will be introduced in Europe as part of the Directive EU 2015/2366 on payment services in the internal market (Payment Services Directive, “PSD2”).
Commission launches consultation of stakeholders on the taxonomy for sustainable economic activities
The European Commission launched the latest step to manage forward sustainable finance in the EU with the call for feedback on a classification system – or “taxonomy” – for environmentally-sustainable economic activities. The consultation is being launched by the Technical Expert Group (TEG) on Sustainable Finance. The TEG, a global group of experts set up by the Commission, published its Report on Taxonomy on 18 June 2019. It follows on the Commission’s May 2018 legislative proposal on an EU taxonomy currently being discussed by the European Parliament and the Council.