11 Aug
Member News

Troutman Pepper | More Privacy, Please – August 2022

Editor's Note: In the U.S. laws and regulation space, federal lawmakers continued to push the American Data Privacy and Protection Act forward, and the FTC pledged to enforce the law against the illegal use of highly sensitive data, including health data. Meanwhile, the California Privacy Protection Agency commenced official rulemaking. In U.S. litigation, courts continued to see BIPA litigation, including a claim against an educational institution and a claim against Clearview AI. In international regulation and enforcement, the European...

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10 Aug
Chapter News

IMF | Central Banks Hike Interest Rates in Sync to Tame Inflation Pressures

During the pandemic, central banks in both advanced and emerging market economies took unprecedented measures to ease financial conditions and support the economic recovery, including interest-rate cuts and asset purchases. With inflation at multi-decade highs in many countries and pressures broadening beyond food and energy prices, policymakers have pivoted toward tighter policy. As our Chart of the Week shows, central banks in many emerging markets proactively started to hike rates earlier last year, followed by their counterparts in advanced economies...

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10 Aug
Member News

NautaDutilh | The brand new Belgian Act (finally) transposing the EU copyright Directive entered into force

By the Act of 19 June 2022, Belgium transposed the Directive (EU) 2019/790 into Belgian law, hereby ushering in a number of changes. It entered into force on 1 August 2022. Member States initially had until 7 June 2021 for the transposition. The aim of the Directive is to ensure the EU to keep a leading position in the global digital economy by promoting innovation, creativity, investment and production of new content. Here are some of the key innovations of...

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09 Aug
Member News

Steptoe | Senate Passes the Inflation Reduction Act

Yesterday, the Senate passed the Inflation Reduction Act of 2022 (IRA) (H.R. 5376) on a party-line vote with Vice President Kamala Harris breaking the 50-50 tie on President Biden and Congressional Democrats signature domestic policy legislation focused on energy, climate, health care, and tax provisions. The House of Representatives is expected to take up and pass the IRA without changes on Friday where it will then head to President Biden for his signature. The IRA was unveiled on July 27...

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09 Aug
Member News

EIB | A drive to develop

In developing countries transport drives economic grown and social inclusion. Here’s how transport projects help people live better lives around the world—and fight the emissions that fuel climate change. Transport is key to development. It fosters wealth, equality and well-being and is crucial to any nation, even more so for less-developed countries. In poorer countries, where most people don’t own a car, improving public transport is essential to economic growth and good quality of life. Many developing countries often lack resources...

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09 Aug
Chapter News

Europe’s energy balancing act

Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy / Vice-President of the European Commission | HR/VP Blog - Europe is facing a perfect storm: energy prices are up, economic growth is down and winter is coming. The Kremlin is using energy as a political weapon. We must prepare ourselves for a possible gas cut-off, principally through savings, diversification and solidarity among us. At the same time, we must accelerate investments in renewables and wage...

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08 Aug
Chapter News

New rights to improve work-life balance in the EU enter into application today

As of today, all Member States must apply EU-wide rules to improve work-life balance for parents and carers adopted in 2019. These rules set out minimum standards for paternity, parental and carers' leave and establish additional rights, such as the right to request flexible working arrangements, which will help people develop their careers and family life without having to sacrifice either. These rights, which come in addition to existing maternity leave rights, were achieved under the European Pillar of...

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08 Aug
Chapter News

European Commission disburses first tranche of the new €1 billion macro-financial assistance for Ukraine

The European Commission, on behalf of the EU, has today disbursed the first half (€500 million) of a new €1 billion macro-financial assistance (MFA) operation for Ukraine. The second tranche (another €500 million) will be disbursed tomorrow, 2 August. The decision about this new exceptional MFA was adopted by the European Parliament and the Council on 12 July 2022. This additional MFA of €1 billion is part of the extraordinary effort by the EU, alongside the international community, to help...

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08 Aug
Member News

Littler | Monkeypox: What Does this Mean for Employers?

UPDATE: As of August 4, the Biden administration has declared monkeypox a national health emergency, on the heels of similar announcements by various states and localities as well as the World Health Organization. The latest wave of the COVID-19 pandemic has barely been contained, yet employers are now being hit with employee inquiries related to monkeypox.  As this virus spreads, states and localities are declaring emergencies while employers are struggling to determine how to respond to this new challenge, including...

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05 Aug
Member News

BNY Mellon | Collateral management: promoting flexibility, connectivity and data utilisation

This article was previously published in Securities Financial Times | Brian Ruane, CEO of BNY Mellon Government Securities Services Corporation and Clearance & Collateral Management, recently met with Justin Lawson to discuss the firm’s growing collateral business and the first phase of the new user interface for their flagship application, AccessEdge This new redesigned user interface will include enhanced inventory and trade management capabilities, and a unified portal that simplifies the client experience. BNY Mellon has invested in, and is focused...

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