Vinge Dude Diligence – for improved gender equality

New statute prohibits unfair terms and conditions and practices in conjunction with the purchase of agricultural and food products

The so-called UTP Act prohibits buyers from using certain terms and conditions and practices against suppliers of agricultural and food products. The Swedish Competition Authority exercises supervision and can, among other things, carry out unannounced inspections and order individual to attend formal interviews. In conjunction with violations, sanctions such as injunctions subject to a default fine or a sanction fee of up to one per cent of the buyer’s annual turnover can be imposed. The UTP Act will enter into force on 1 November 2021 and will also be applicable to contracts which are entered into prior to this date.

Vinge employs additional antitrust economists to further strengthen its practice

We welcome Adam Löfquist and Carl Widstrand to our EU, Competition & Regulatory practice group.

EU climate taxonomy – New regulations concerning companies’ publication of information

According to the European Union’s climate taxonomy, certain organisations must publish to what extent their operations are environmentally sustainable. In order to clarify what information the companies need to report, as well as how this should be done, the EU Commission has prepared a new delegated regulation. Primarily, the delegated regulation establishes relevant financial key ratios and different report precedents.

The EU’s climate taxonomy – new legal act concerning technical review criteria

On 21 April this year, the EU Commission adopted an action package containing several delegated legal acts with the purpose of supplementing the EU’s taxonomy regulation, i.e. the EU’s classification system for environmentally sustainable operations. One of these legal acts determines technical review criteria which shall clarify which operations contribute a majority of the EU’s environmental goals. The purpose is to increase the amount of green investments and to counteract so-called “greenwashing” – i.e. that businesses claim to be more sustainable than they actually are.

Extensive amendments to the Swedish Protective Security Act - increased obligations and a comprehensive sanctions system

Extensive amendments to the Swedish Protective Security, which include increased obligations for operators of security-sensitive activities and a comprehensive sanctions system, are proposed to enter into force on 1 December 2021. These changes, which were presented in a Government bill of 18 March 2021, generate new and far-reaching obligations for many companies, especially in view of the severe sanctions that may be imposed if the obligations are not complied with.

A shift in EU merger control policy and practice could affect deal certainty and create opportunities for complainants

The European Commission is expanding its control of mergers and acquisitions within the existing legal framework, allowing national authorities to refer a transaction they do not have jurisdiction over for review in Brussels.

Vinge awarded Sweden Law Firm of the Year 2021 by Chambers & Partners

The award, Chambers Europe Award for Excellence – Sweden Law Firm of the Year 2021, is one of the foremost awards a Swedish law firm can receive. Vinge has previously received the award on four occasions.

Vinge has received the highest ranking in 14 of 18 categories in Legal 500’s recently released rankings.

The following practice areas have been awarded Tier 1 in The Legal 500’s EMEA guide: Banking & Finance, Capital Markets, Commercial, Corporate and M&A, Employment, Energy, Environment, EU and Competition, Insolvency, Insurance, Intellectual Property and Media, IT and Telecoms, Real Estate, Shipping, Tax.

Vinge top-ranked by Chambers & Partners within ten practice areas

Vinge would like to thank all the clients who have contributed with their time through the interview processes for Chambers’ annual rankings. We have today received the result, and we are delighted with top rankings in 13 areas and a significant number of individual rankings.

Compliance policies and dawn raid manuals should be revised in light of amendments to the Swedish Competition Act

As previously described, the Swedish Competition Act (2008:579) will be amended in several important respects on 1 March 2021. We recommend that you revise your current compliance policies and manuals for dawn raids to ensure adherence with the new rules.

Amendments to the Swedish Competition Act provide extended powers for the Swedish Competition Authority

Early in 2021, the Swedish Competition Act (2008: 579) will be amended in several important respects. The background to the amendments is Directive (EU) 2019/1 of the European Parliament and of the Council, which aims to harmonize the investigative and sanctioning powers of the European competition authorities in their enforcement of the EU competition rules. Undertakings active in Sweden will be affected by the amendments in several ways.

Brexit – Merger control and antitrust enforcement

The United Kingdom withdrew from the European Union on 31 January 2020. The Competition and Market Authority (“CMA”), the UK national competition authority, recently published new guidance regarding the enforcement of merger control and antitrust rules under the Withdrawal Agreement.

Vinge top ranked in Legal 500

Vinge has received the highest ranking within14 of 17 categories in Legal 500’s ranking list which was published recently.

Brexit requires extensive preparations by Swedish companies

Swedish companies with any form of exposure to the UK will be affected by Brexit. How an individual company is affected is dependent upon the company’s operational area.

Is the UK Attorney General’s legal advice regarding the backstop correct?

James Hope, partner and head of Vinge’s Dispute Resolution practice group in Stockholm as well as a Solicitor Advocate, provides an analysis of the latest turn of events concerning Brexit in an article written in English. What implications are there for the withdrawal agreement that the Attorney General’s advice was wrong?