Insights

On 26 March 2026, the European Parliament approved a substantial legislative amendment to update and strengthen the recovery and resolution rules for the banking sector that the EU put in place after the Global Financial Crisis (GFC) of 2008. The rules govern how banks in the EU are to be managed when they fail or are at risk of failing. They set out how losses are to be allocated and depositors protected, and enable resolution authorities to intervene in an orderly way. The new Crisis Management and Deposit Insurance (CMDI) package revises those rules to address structural weaknesses that have become apparent over the past decade of implementation, including the unavailability of the resolution framework for smaller and medium-sized banks.

On 9 June 2026, a bill implementing the EU directive on multiple-vote share structures (MVS Directive) was submitted to the Dutch lower house. The directive allows companies seeking admission to trading on a multilateral trading facility (MTF), to introduce share structures where certain classes of shares provide more votes per share than other classes (high-vote/low-vote share structures). Importantly, the bill leaves untouched existing Dutch mechanisms for differentiating voting rights – including high-vote/low-vote structures and loyalty voting schemes. The implementing bill that has now been submitted is mainly of interest to small and medium-sized companies (SMEs) and does not affect companies listed on a regulated market.

To prevent strategic knowledge and technology from falling into the hands of parties that pose a threat to national security, the scope of the Dutch general investment screening regime will be broadened. This regime − set out in what is known in the Netherlands as the "Vifo Act" − covers investments in vital providers, companies involved in sensitive and highly sensitive technology, and operators of business campuses (see our June 2023 article explaining the regime here).

De Brauw advises Adyen on its aquisition of Orb to unify billing and payments infrastructure for enterprise merchants

De Brauw advised the underwriting banks on the US initial public offering of INNIO N.V., a global energy solutions provider for applications such as data centres. The IPO consisted entirely of a secondary offering by the selling shareholder AI Alpine, which is co-owned by funds managed by Advent International and the Abu Dhabi Investment Authority (ADIA). It raised USD 2.43 billion.

Universal Music Group is a music and entertainment company active in recorded music, music publishing, merchandising and audiovisual content. It has been listed on Euronext Amsterdam since 2021. Pershing Square Capital Management, L.P. is a New York-based hedge fund founded and managed by Bill Ackman.