On 16 April 2019, the European Parliament adopted various reforms to the rules applicable to the distribution and marketing of collective investment funds. The reforms include amendments to the Alternative Investment Fund Managers Directive (the “AIFMD”), including harmonised rules on the pre-marketing of alternative investment funds (“AIFs”). The amendments are to be adopted by the […]

The Finnish Consumer Ombudsman has published new guidelines on how to communicate the commercial nature of influencer marketing to consumers. The guidelines, which are currently only available in Finnish (here), include practical examples concerning the most commonly used social media platforms. However, the principles contained in the guidelines are applicable to all influencer marketing. General […]

New Finnish Trademark Act and Other IP Reforms: Key Changes
May 2, 2019

The long-awaited new Finnish Trademark Act and other IP reforms entered into force on 1 May 2019. They bring about many improvements for brand owners – even beyond those mandated by the EU legislator to implement the Trademark Directive. Below is a snapshot of a few key changes. Overcoming Relative Grounds for Refusal Citations Becomes […]

In principle, the General Data Protection Regulation prohibits the processing of special categories of personal data, such as health data. In the current data economy, this prohibition has created a conflict between individual rights, such as privacy, and the imperatives of economic growth. Ahead of Finland’s Presidency of the Council of the European Union starting […]

The Payment Services Directive 2 (the “PSD2”) introduces a novel supply obligation for account banks to supply access to account data for third-party service providers of, for instance, account information services or payment initiation services. However, this obligation is subject to an explicit consent by the customer, and the account bank may refuse to supply […]

Four New Ways to Increase Flexibility in the Finnish Labour Market in 2020 Please read the translation in English at the end of the article. Eduskunta hyväksyi 13.3.2019 uuden työaikalain, joka astuu voimaan 1.1.2020. Lain tarkoituksena on vastata paremmin nykyisen työelämän tarpeisiin lisäämällä joustavuutta sekä kohentamalla työn ja vapaa-ajan tasapainoa. Laki tuo joustoa suomalaisille työmarkkinoille seuraavilla […]

Finnish Cross-Border Licence: Ongoing Requirements and Implications of Brexit Delay
April 17, 2019

As discussed in our earlier blogposts from March and February, the newly amended Finnish Investment Services Act allows third-country firms, including UK firms after Brexit, to apply for a cross-border licence to provide investment services to per se professional clients and eligible counterparties in Finland. Brexit Delay Postpones the Deadline for Submitting the Licence Application […]

Interfaces Between the Clinical Trials Regulation and the GDPR: Comments on the EC’s New Guidance
April 15, 2019

The European Commission has recently issued (on 10 April 2019) a Question & Answer document on the interplay between the General Data Protection Regulation 2016/679 (the “GDPR”) and Clinical Trials Regulation 536/2014 (the “CTR”), which is expected to enter into force in 2020 (subject to development of a fully functional EU clinical trials portal and […]

Efficient Public Procurement
April 12, 2019

According to a recent study on bidding in public procurement in Finland, half of the contracting authorities received just two bids, or even no bids, in their tendering competitions. The study was based on extensive data, comprising of 18,000 invitations to tender over the recent years. The study was conducted in Finland, but the figures […]

Please read the translation in Finnish at the end of the article. When a workplace is confronted with a situation where a planned restructuring may lead to a reduced use of workforce, the employer must conduct negotiations with the employees in accordance with Chapter 8 of the Act on Cooperation within Undertakings. When one is preparing a […]

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