Business Law and Corporate Law

The European Commission has adopted new implementing technical standards under the Market Abuse Regulation, fundamentally changing how issuers must maintain insider lists.

The European Securities and Markets Authority has issued a definitive statement clarifying that the MiCAR transitional period expires on 1 July 2026, after which any entity providing crypto-asset services to EU clients without proper authorization will be in breach of EU law. This regulatory deadline represents a fundamental legal transformation of the EU crypto-asset market, affecting business models, contractual relationships, board exposure, and enforcement risk for crypto-asset service providers.

The European Commission has launched dual consultations on the Markets in Crypto-Assets Regulation (MiCAR), seeking feedback from both retail users and industry stakeholders on whether the regulation remains fit for purpose. Key areas under review include the treatment of decentralized finance, stablecoins, crypto-asset service providers, NFTs, tokenised deposits, and the private-law treatment of tokens, with responses due by 31 August 2026.

France's new economic simplification law substantially reforms the Hamon provisions governing employee information requirements during company sales. The legislation narrows the scope of mandatory employee notification, shortens compliance timelines from two months to one month, and reduces civil penalties from 2% to 0.5% of the transaction value.

Luther's M&A team provides comprehensive advisory services on complex cross-border transactions, integrating corporate, financing, and regulatory expertise to structure and execute deals within fully integrated frameworks. The firm's publications cover diverse legal topics including consumer protection, competition law, employment law, and estate planning, demonstrating their multidisciplinary approach to legal practice.

France is set to significantly raise the turnover thresholds that trigger mandatory pre-merger notification to the French Competition Authority, marking the first increase in general thresholds since 2004. The reform, adopted through the French Economic Life Simplification Bill in April 2026, amends Article L. 430-2 of the French Commercial Code and awaits final promulgation before entering into force in September or October 2026.

Modern family wealth is increasingly international. Entrepreneurs, investors, and high-net-worth families often hold assets across multiple jurisdictions, while family members may reside in different countries.

Since its introduction in 2012, Portugal’s Golden Visa programme has undergone various changes. Staying abreast on the latest developments and requirements is important for investors planning permanent residence or citizenship in Portugal.

For Golden Visa and other residency permit holders in Portugal, protecting long-term residency rights is now becoming the primary strategic objective.

France's new economic simplification law substantially reforms the Hamon provisions governing employee information requirements during company sales. The legislation narrows the scope of mandatory employee notification, shortens compliance timelines from two months to one month, and reduces civil penalties from 2% to 0.5% of the transaction value.

For years, Environmental, Social and Governance (ESG) disclosures of companies (broadly referring to a company’s environmental impact, social practices and internal governance structure), were largely driven by reputational incentives and sustainable financing, showcasing a “green” or “responsible” corporate branding.

Malta Enterprise has introduced a new micro-invest scheme designed to support small businesses with up to 50 employees and self-employed individuals through tax credits for operational upgrades and expansion. The scheme, running from 2026 to 2030, features increased thresholds for family businesses, Gozo-based companies, female-owned enterprises, and newly eligible social enterprises.