10 Aug
Chapter News

Investment Plan for Europe: EIB backs German cancer therapy developer MagForce with up to EUR 35m

Patients who suffer from the most aggressive type of brain cancer, glioblastoma, will soon have broader access to a new form of treatment thanks to financing by the European Investment Bank (EIB). The EIB and German medical device company MagForce signed a financing agreement which will allow the company to borrow up to EUR 35 million over the coming three years, subject to achieving a set of agreed performance criteria. The transaction with MagForce was made possible by the European...

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09 Aug
Member News

Major Stock Index Providers to Limit Inclusion of Multi-Class Companies: What It Means and Why It Matters

  Major index providers S&P Dow Jones, FTSE Russell, and MSCI recently adopted, or are in the process of considering, changes to their index eligibility rules that could significantly impact companies that have, or that are contemplating, multi-class capital structures. This action, that may impose costs on retail investors that can be avoided by larger investors, should end calls by institutional investors for the stock exchanges and the U.S. Securities and Exchange Commission (SEC) to prohibit the listing of companies...

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09 Aug
Chapter News

10 Years Since the Start of the Crisis: Back to Recovery Thanks to Decisive EU Action

The global financial crisis began 10 years ago and led to the European Union’s worst recession in its six-decade history. The crisis did not start in Europe but EU institutions and Member States needed to act resolutely to counter its impact and address the shortcomings of the initial set-up of the Economic and Monetary Union. Decisive action has paid off: today, the EU economy is expanding for the fifth year in a row. Unemployment is at its lowest since...

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09 Aug
Brexit News, Member News

Boardroom Brexit: The latest Information Business Needs to Know

There has been a lot going on in recent months; the UK general election, the start of formal Brexit negotiations, and the unofficial launch of Britain's independent trade policy at the World Trade Organisation in Geneva. With so much activity it's often hard for businesses to cut through to the real issues. DLA Piper's Boardroom Brexit is a key client briefing which breaks down recent developments into what businesses need to know, and recommended actions that senior management teams can...

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09 Aug
Member News

Employees in Other Countries Excluded from Elections to German Supervisory Boards

Since the Berlin Higher Regional Court had referred the question to the European Court of Justice (ECJ) in October 2015 of whether it was compatible with EU law regulations that only the workers employed in Germany are eligible to participate in the election of the workers' representatives on the supervisory board, the legal sector has been eagerly looking to Luxembourg and awaiting an answer from the ECJ.  The answer is now available and is likely to allow the legal sector to...

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08 Aug
Member News

Final Regulations Clarifying and Expanding New York City “Ban the Box” Law Take Effect on August 5, 2017

New York City’s Fair Chance Act (FCA), which took effect October 27, 2015, imposes affirmative obligations on covered employers and employment agencies regarding when they may conduct criminal background checks on job applicants, and what process must be followed before making an adverse decision on the basis of an applicant’s criminal history.  It is one of the nation’s most comprehensive "ban the box" laws restricting employers’ use of criminal history in the employment process.1  The New York City Commission...

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07 Aug
Chapter News

Alexander Stubb is new Vice-President of the European Investment Bank

Alexander Stubb has been appointed Vice-President and Member of the Management Committee of the European Investment Bank (EIB). He takes up his duties today, succeeding Jan Vapaavuori, who had tendered his resignation in June. Mr Stubb, a Finnish national, was appointed by the EIB’s Board of Governors on a proposal from the Finance Minister of the Republic of Finland and with the agreement of the shareholder constituency formed also by Austria, Estonia, Latvia, Lithuania and Sweden. In the Bank’s Management Committee,...

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04 Aug
Brexit News, Member News

Weekly Vulcan View: EU Developments

KEY EVENTS THIS WEEK: BREXIT   Short-lived UK cabinet unity on transition deal crumbles as calls to end free movement after Brexit re-emerge   Any hope held by the EU27 capitals last week that the British government was finally beginning to come to an agreed consensus of a post-Brexit transition deal were quickly dashed over the past few days as various ministers and Downing Street itself committed to ending the free movement of EU citizens after Brexit. According...

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03 Aug
Member News

USCIS Reopens H-1B Premium Processing for Institutions of Higher Education and Other Cap-Exempt Petitions

  On March 3, 2017, U.S. Citizenship and Immigration Services (USCIS) unexpectedly announced that it would temporarily suspend its premium processing service for all H-1B petitions received on or after April 3, 2017. The premium processing program allows a petitioner to receive a decision on its case within 15 calendar days in exchange for payment of an additional government filing fee to USCIS. In the initial announcement, USCIS indicated that the suspension could remain in effect for up to six...

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03 Aug
Member News

EU Regulators Issue an Updated Opinion on Processing Data in the Workplace

  Authors: Grant D. Petersen (Tampa), Simon J. McMenemy (London), Hendrik Muschal (Berlin) On June 29, 2017, the Article 29 Working Party (the EU body representing the data protection authorities (DPA) of each EU member country) issued an updated opinion regarding the processing of personal data in the workplace. Recognizing that employers are rapidly adopting new information technology, the opinion updates the Working Party’s 2001 opinion regarding processing data in the employment context and 2002 opinion regarding the surveillance of electronic communications in the workplace. Additionally, the...

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