07 Jul
Member News

Arendt | 11th package of EU economic sanctions against Russia

On 23 June 2023, the Council of the European Union adopted its eleventh package of restrictive measures against Russia, which supplements those discussed in our previous newsflashes_. This latest package aims to tackle the circumvention of previously adopted sanctions and also adds additional restrictions. The Council has adopted three regulations: Council Regulation (EU) 2023/1214 of 23 June 2023 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Council Regulation (EU) 2023/1215...

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06 Jul
Member News

AICEP Portugal Global | Renewables provide 61% of electricity in H1

Wind power and hydroelectricity supplied 25% and 23%, respectively, of the electricity consumption in the first half of the year, said REN. Renewable production supplied 61% of Portugal’s electricity consumption in the first half of the year, especially wind power at 25% and hydroelectricity at 23%, Redes Energéticas Nacionais (REN) reported on Tuesday. According to REN, photovoltaic production supplied 7% of electricity consumption and biomass 6%, while natural gas production accounted for 19%, and the remaining 20% corresponded to the import...

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06 Jul
Member News

Noerr | Regulation (EU) 2023/1230 on machinery ‒ a legal regime for machinery in Europe

At last it’s here. Long-awaited Regulation (EU) 2023/1230 on machinery (the “Machinery Regulation”) was published in the EU Official Journal on 29 June 2023. Private industry and public authorities alike will now have a new set of rules on the safety requirements for machinery, which will replace Directive 2006/42/EC on machinery (the “Machinery Directive”) that has been in force for 17 years. Even though the Machinery Regulation does not constitute a paradigm shift for industry, it nevertheless introduces numerous...

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06 Jul
Chapter News

FSB | Addressing Structural Vulnerabilities from Liquidity Mismatch in Open-Ended Funds – Revisions to the FSB’s 2017 Policy Recommendations: Consultation report

A key structural vulnerability from asset management activities is a potential mismatch between the liquidity of fund investments and the redemption frequency of fund units in open-ended funds. In 2017, the FSB published policy recommendations to address structural vulnerabilities in asset management activities. The recommendations relating to liquidity mismatch (“FSB Recommendations”) aimed to: strengthen regulatory reporting and public disclosure to facilitate assessment of liquidity risk in OEFs; promote liquidity management both at the fund design phase and on an ongoing...

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05 Jul
Member News

Osborne Clarke | Summer 2023 – UK Immigration Policy Dilemma

The UK Government is trying to tackle a number of problems that are linked to immigration, but require contradictory solutions – inflation in food prices, increase in net-migration and a shortage of skilled workers. Inflation and immigration are not normally subjects easily joined, but the International Monetary Fund have commented on the UK economy.  Gita Gopinath (Deputy Managing Director of the IMF) said recently that "with inflation as high as it is... there are benefits to having workers come in". Ms...

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05 Jul
Chapter News

Circular economy for textiles: taking responsibility to reduce, reuse and recycle textile waste and boosting markets for used textiles

Today, the Commission is proposing rules to make producers responsible for the full lifecycle of textile products and to support the sustainable management of textile waste across the EU. This initiative will accelerate the development of the separate collection, sorting, reuse and recycling sector for textiles in the EU, in line with the EU Strategy for Sustainable and Circular Textiles. Increasing the availability of used textiles is expected to create local jobs and save money for consumers in the...

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04 Jul
Member News

CLA | The Potential of AI and Machine Learning

It times like these in the transportation and logistics industry that we really begin to look for opportunities to reduce our costs. Times when rates and demand are down, and we begin to look at our people, processes, and technologies for things that will directly impact the bottom line. In these moments, you might have wished your organization had two superpowers. First, the ability to put your most time-consuming, labor-intensive, and detail-oriented processes on autopilot so you could focus...

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03 Jul
Member News

Fenwick | Complying with I-9 Verification as COVID-19 Flexibilities Expire

In May, the Department of Homeland Security (DHS) and U.S. Immigration and Customs Enforcement (ICE) announced that the Form I-9 flexibilities allowing for remote verification will end on July 31, 2023. DHS regulations designed to create a permanent remote examination process were anticipated but have not been issued. Therefore, employers must comply with the pre-pandemic Form I-9 in-person inspection and verification requirements for all new hires onboarded on or after August 1, 2023, including remote personnel. For all current...

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03 Jul
Member News, New York Related News

Troutman Pepper | Wide-Ranging New York Noncompete Law Awaits Governor’s Signature

Summary On June 20, the New York State Legislature passed a bill prohibiting noncompetes. The bill currently awaits Governor Hochul’s signature. If signed into law, it will take effect just 30 days later, but will only be applicable to contracts entered into or modified on or after the effective date — it will not have retroactive effect. The proposed law would prohibit employers from entering into noncompete agreements with “covered individuals,” which, as explained in more detail below, clearly includes employees...

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03 Jul
Chapter News

Conclusion of Swedish Presidency of the Council of the European Union

Today marks the conclusion of Sweden’s Presidency of the Council of the European Union. One of the top priorities in the domain of justice has been to contribute to international efforts to ensure accountability for the crimes committed in Ukraine. Eurojust and the Swedish authorities have worked closely together over the past six months and taken important steps towards this common goal. Intensifying efforts to work against impunity for core international crimes was also the theme of this year’s EU...

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