In our first newsletter of 2024, we highlight the recently published Directive (EU) 2024/927 of the European Parliament and of the Council of March 13, 2024. This directive brings about substantial changes to the AIFM and UCITS directives, affecting the activity of alternative investment fund management companies, undertakings for collective investment in transferable securities, and the funds themselves.
We also summarize the legislative highlights in:
- banking and finance;
- insurance and pension funds; and
- securities and capital markets.
Lastly, we cover a selection of caselaw at both the national and European level. These cover topics such as the use of the plea of breach of contract in light of the Bank of Portugal’s resolution action, the unenforceability of clauses that restrict coverage for the insured risk in the event of non-disclosure by the policyholder of a group insurance, and the interpretation of the mortgage credit agreement directive in relation to early repayment.