United States

Supreme Court Rules IEEPA Lacks Authority for Reciprocal Tariffs

The Supreme Court ruled in Learning Resources, Inc. v. Trump that the International Emergency Economic Powers Act (IEEPA) does not grant the President authority to impose reciprocal tariffs. This decision impacts an estimated $175 billion in collected tariff revenues, raising questions about potential refunds.

ESMA Final Draft RTS on Clearing Thresholds Under EMIR 3

The European Securities and Markets Authority (ESMA) has published its final report with draft regulatory technical standards (RTS) amending the clearing threshold regime under EMIR 3. The changes shift the focus from ETD vs OTC to uncleared OTC transactions, with revised thresholds for various derivative classes.

Germany NIS2 Cybersecurity Law Implementation Deadline

Germany's implementation law for the NIS2 Directive, effective December 2025, expands cybersecurity requirements to new sectors including digital services and manufacturing. Covered entities must register with the BSI by March 6, 2026, and comply with new security and incident reporting obligations.

Mideast War Disrupts LNG Contracts and Raises Supply Security Questions

The escalating conflict in the Middle East has disrupted LNG contracts, particularly due to the de facto closure of the Strait of Hormuz and attacks on Qatari facilities. This has led to record-high spot prices and is raising urgent questions about supply security and contractual performance for energy companies.

EU-UK Competition Cooperation Agreement Signed

The European Commission and the UK have signed a competition cooperation agreement establishing a formal post-Brexit framework for antitrust and merger enforcement coordination. The agreement institutionalizes notification, coordination, and information-sharing mechanisms but requires ratification by both parties and is not yet in force.

USITC Launches Investigations into China Trade Relations and Biotech Support

The US International Trade Commission (ITC) has launched two Section 332 investigations: one examining the economic effects of revoking China's permanent normal trade relations status, and another reviewing China's state support and pricing practices in the biotechnology sector. These investigations will provide an analytical record for Congress and the administration regarding future trade and industrial policy measures targeting China.

CIT Orders Refunds of IEEPA Tariffs on Unliquidated Entries

The Court of International Trade (CIT) has ordered U.S. Customs and Border Protection (CBP) to refund tariffs collected under the International Emergency Economic Powers Act (IEEPA) on unliquidated and not finally liquidated entries. This ruling benefits all importers who paid these tariffs.

Horizon Sustainability Law News Bulletin - February 2026

DLA Piper's February 2026 sustainability law bulletin covers legislative and policy developments. Key updates include California's CARB hearing on SB 253 and SB 261 regulations, discussing proposed fees, penalties, and potential exemptions for insurers.

UK ICO Guidance on Agentic AI and UK GDPR Compliance

The UK ICO has released a Tech Futures report analyzing agentic AI systems and their compliance with UK GDPR. The report emphasizes that developers and deployers of these systems must adhere to existing UK GDPR requirements, including those related to automated decision-making, data minimization, and accuracy.

OCC GENIUS Act Proposal on Stablecoins

The Office of the Comptroller of the Currency (OCC) has issued a Notice of Proposed Rulemaking (NPR) to implement the GENIUS Act concerning stablecoins. The proposal seeks public comment on regulatory frameworks for permitted payment stablecoin issuers, including rules on yield-bearing features and opt-out provisions for state-approved issuers. Comments are due May 1, 2026.