Newsline
Wednesday
May132009

DG SANCO's consultation paper for discussion on collective consumer redress

On 8 May DG SANCO produced a follow-up to its Green Paper on Consumer Collective Redress. The new consultation - discussion paper - presents the first look at impact of the policy options, drafted on the basis of the responses to the Green Paper. The responses indicate that no single option provided in the Green Paper is satisfactory for achieving the objectives of improving access to effective means of redress for mass consumer claims in the EU, and improving the functioning of the internal market by making it more competitive. Rather, a common trend emerging from the responses is that a combination of several instruments is the best way forward!

Stakeholders are invited to provide further information, examples, and possibly figures to assist the Commission - the document will be discussed at the hearing on 29 May 2009. Stakeholders (consumer associations, businesses, public authorities) are invited to respond with data, examples or figures concerning the proposals presented by the Commission by 3 July 2009. Click here for a link to the SANCO website with more information about the Consultation.

Click here to read more about the Consultation and the options presented by the Commission in our ResouceCentre.

 

Wednesday
May062009

Significant increase in Securities Litigation against banks in the US – is it transferrable to Europe?

Two recent research reports by the Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse noted an increase in securities class litigation against banks, and a decrease in a number and value of securities settlements during 2008. Although the Reports suggest that this does not indicate a stable trend, there is no doubt that the current financial crisis has triggered changes in litigation patterns.

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Tuesday
Apr212009

Report and Green Paper on Brussels I Regulation

On 21 April 2009 the Commission published a Report and Green Paper on the application of the Council Regulation (EC) No 44/2001 on jurisdiction and the recognition and enforcement of judgements in civil and commercial matters. The Commission invited all interested parties to submit their observations about the Green Paper by 30 June 2009.

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