09 Jan
Chapter News

ECB | Caveat emptor does not apply to crypto

Blog post by Fabio Panetta, Member of the Executive Board of the ECB | Trading in unbacked digital assets should be treated by regulators like gambling. Last year marked the unravelling of the crypto market as investors moved from the fear of missing out to the fear of not getting out. TerraUSD — a stablecoin that was stable in name only — was among the first to fall in a chain of collapses that brought down several lending platforms, a hedge fund,...

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09 Jan
Member News

Jaguar Freight | Weekly Roar: A 2023 Reset? Remains to be seen

In this week’s Roar: setting the supply chain table for 2023, improved schedule reliability, opinions on the West Coast port situation, the state of truck driving jobs in the US, and the effect of climate change on the future of manufacturing. Some are optimistic 2023 will be the year to put the supply chain woes of the last few behind us. We’ll see about that. 2020 to 2022 taught us a few things, one of them being that global trade wasn’t...

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19 Dec
Chapter News

Data protection: Commission starts process to adopt adequacy decision for safe data flows with the US

The European Commission launched the process towards the adoption of an adequacy decision for the EU-U.S. Data Privacy Framework, which will foster safe trans-Atlantic data flows and address the concerns raised by the Court of Justice of the European Union in its Schrems II decision of July 2020. Today's draft decision follows the signature of a US Executive Order by President Biden on 7 October 2022, along with the regulations issued by the US Attorney General Merrick Garland. These two...

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16 Dec
Member News

Vulcan Insight | EU comes to landmark agreement on a carbon tax 

The EU continued this week to make progress on its Green Deal ambitions after the Council and European Parliament came to a provisional agreement on the so-called, Carbon Border Adjustment Mechanism (CBAM). Once implemented, the CBAM will introduce a levy on carbon intensive goods entering the EU market. By mirroring the EU’s own internal carbon price under the EU’s emission’s trading system (ETS), European industry will be shielded from cheaper, more polluting products imported from abroad. Under this regulation, companies that import into the...

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16 Dec
Chapter News

Digital Rights and Principles: Presidents of the Commission, the European Parliament and the Council sign European Declaration

Today, the EU's work on its ‘digital DNA' – the European Declaration on Digital Rights and Principles – has culminated: In the margins of the European Council, Commission President Ursula von der Leyen signed the text together with the President of the European Parliament Roberta Metsola, and Czech Prime Minister Petr Fiala for the rotating Council presidency. The Declaration, put forward by the Commission in January this year, presents the EU's commitment to a secure, safe and sustainable digital transformation...

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15 Dec
Member News

Thompson Hine | Innovation Survey 2022 – Invite to Participate

Thompson Hine is conducting its third Innovation Survey, polling general counsel, Chief Legal Officers, and legal operations professionals to monitor trends and gauge the state of innovation in the legal market. Since 2017, the Thompson Hine Innovation Surveys have served the legal industry by measuring the gap between client feedback and law firms’ appetites to adapt and effect change. EAAC members are being offered an opportunity to help contribute to the Report by sharing thoughts and opinions about innovation.  The...

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15 Dec
Member News

For What It’s Earth: ESG Headlines from Steptoe

Regulation On December 6, the European Parliament and the Council of the EU announced that a provisional deal has been reached on a proposal to "minimize the risk of deforestation and forest degradation associated with products that are imported into or exported from the European Union." The agreement sets out mandatory due diligence rules for companies that want to place relevant products on the EU market, and proposes penalties for non-compliance including fines "proportionate to the environmental damage and the...

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15 Dec
Chapter News

Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB

Good afternoon, the Vice-President and I welcome you to our press conference. The Governing Council today decided to raise the three key ECB interest rates by 50 basis points and, based on the substantial upward revision to the inflation outlook, we expect to raise them further. In particular, we judge that interest rates will still have to rise significantly at a steady pace to reach levels that are sufficiently restrictive to ensure a timely return of inflation to our two...

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14 Dec
Chapter News

U.S. FED | Speech by Vice Chair for Supervision Barr on why bank capital matters

"Why Bank Capital Matters" | Vice Chair for Supervision Michael S. Barr at the American Enterprise Institute, Washington, D.C. (virtual) | December 01, 2022 | In my first speech as Vice Chair for Supervision in September, I said that the Federal Reserve Board would soon engage in a holistic review of capital standards. My argument, then and now, is that our review of regulatory policy must be a periodic feature of bank oversight. Banking and the financial system continuously evolve,...

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14 Dec
Chapter News

Security Union: EU Commission proposes new rules on Advance Passenger Information to facilitate external border management and increase internal security

Today, the Commission is proposing new rules to strengthen the use of Advance Passenger Information (API) data. This proposal is one of the key actions identified in the EU Security Union Strategy. The EU continues its progress in strengthening its overall security architecture, which aims to enhance EU citizens' protection, as shown also in the Fifth Security Union Progress Report. The report highlights three years of solid progress in implementing the Security Union Strategy. It shows that significant steps...

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