Breaking news: The European Parliament has this morning overwhelmingly approved the text of the new General Product Safety Regulations. This new legislation is a significant overhaul of the rules governing the safety of consumer products in the EU. From here, the proposed legislation moves to the European Council, where it is expected to pass without significant amendment or controversy, and it will become law once published in the Official Journal shortly thereafter. With a transition period of 18 months, we're looking at the new rules being in force before the end of next year. Not a lot of time for companies to adjust to some of the new requirements.
Expect higher levels of enforcement and scrutiny by regulatory authorities under the new regime. Companies will need to adapt for new rules for managing online sales, for reporting safety incidents, for conducting risk assessment of products not currently subject to such requirements, and new world-first requirements for product recalls. New rules for online marketplaces will also have widespread implications for product manufacturers, as well as companies operating the online marketplaces themselves.
This is getting real now. Reach out to any member of the Cooley LLP Products Law team for more information on the practical implications of all of this for manufacturers, retailers, and online platforms.
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