P2B – Here they are: New EU rules imposing more transparency and fairness on online platforms and search engines

WHAT HAPPENED?

A new EU Regulation imposing transparency, fairness, predictability and trustfulness upon online platforms and search engines has just been adopted on 20 June 2019, waiting to make its appearance on the EU Official Journal.

WHY THE NEED FOR A NEW REGULATION?

Online intermediation services present an opportunity for businesses to expand their market scope and commercial prospects. They benefit consumers, who are exposed to a higher choice of goods and services. However, they also raise challenges, particularly the need to protect the interests of business users, who might find themselves in a position of dependence, especially medium- or small-sized companies.

The balance of power in the “P2B – Platform to Business” is ultimately comparable to that in the business to consumer relationships.

In particular, the following issues may arise:

• Online engines and platform rankings can have a strong impact on consumer choices, and platform owners have the power to unilaterally harm (or favour) the business websites using them;
• In some cases online intermediaries gain extraordinary power as all the market users concentrate on and only use the most popular platform, de facto excluding the competition, so that online platform behaviour might basically dictate the market success or failure of the undertakings using them;
• Platforms are liable to occupy dominant positions – which makes it paramount to prevent them from any possible abuse from a competition law viewpoint.

The aim of the new Regulation is to grant businesses a more predictable relationship with online platforms and provide access to effective and swift means of redress.

MOLITOR announces partner and counsel promotions

Luxembourg, 17 July 2019 – MOLITOR Avocats à la Cour is delighted to announce the promotions of Régis Muller to Partner and Sophie Lamothe and Virginie Liebermann to Counsel. The promotions recognise their dedication to the firm and to the firm’s clients together with their high standard of skills and expertise in their chosen practice areas.

Register of Beneficial Owners in Luxembourg – A new disclosure obligation for Luxembourg companies

Deriving from EU Directive 2015/849, as amended by EU Directive 2018/843, Luxembourg has implemented a new law concerning the creation of a register of beneficial owners and a new disclosure obligation notably for most commercial companies. Any entity falling within the scope of this new law will have until 1 September 2019 to comply with it.