11 Apr
New York Related News

Governor Hochul Announces Highlights of Historic FY 2023 New York State Budget

Record Investments in Healthcare, Education, Housing, Infrastructure, and the Environment Increases State Reserves to 15 Percent of State Operating Funds Spending by 2025 Strengthens Public Safety and Government Ethics Governor Kathy Hochul today announced the highlights of the historic FY 2023 Budget, which blends record investments into the long-term future of New York along with significant one-time aid to help recover from the COVID-19 pandemic and unprecedented fiscal responsibility. This historic blueprint meets the once-in-a-generation moment to invest in...

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08 Apr
Member News

Vulcan Insight | European Parliament backs binding pay-transparency measures

On Tuesday, the European Parliament decided by 403 votes in favour, 166 against and 58 abstentions to enter into negotiations with EU governments on a Commission proposal for a Pay Transparency Directive. MEPs demand EU companies with at least 50 employees (instead of 250 as originally proposed) be required to disclose information that makes it easier for those working for the same employer to compare salaries and expose any existing gender pay gap in their organisation. Currently, working women in...

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08 Apr
Member News

Stibbe | Game on for gatekeepers: Digital Markets Act finalised

Now that political agreement has been reached on the final text, the Digital Markets Act (DMA) will enter into force soon. The DMA’s ex ante rules and obligations will apply next to the ad hoc EU and national competition rules. Time for big digital companies to take stock of the potential implications of these additional rules on their day-to-day business operations. See our infographic for a concise overview of the DMA. Rebuttable gatekeeper presumption The DMA introduces a rebuttable presumption to designate digital...

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07 Apr
Chapter News

Tax challenges of digitalisation: OECD invites public input on the draft rules for scope under Amount A of Pillar One

As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS to implement the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, the OECD is seeking public comments on the Draft Model Rules for Domestic Legislation on Scope under Amount A of Pillar One. The purpose of the scope rules is to determine whether a Group will be in scope of Amount A. The rules are designed to ensure Amount A only applies to large and...

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07 Apr
Chapter News

Ambitious Fit for 55 and EU energy independence – the smart, necessary and desirable crisis response

Joint statement by Austria, Germany, Denmark, Spain, Finland, Ireland, Luxembourg, Latvia, the Netherlands, Sweden, Slovenia | In the wake of the Russian invasion of Ukraine, the world faces a new geopolitical reality. EU has shown historic unity and taken decisive action in response to Russia’s aggressive behavior. We must maintain the same unity and determination in order to become independent of Russian fossil fuels as soon as possible through accelerating the green transition towards climate neutrality in the EU by 2050...

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07 Apr
Member News

EXEO Attorneys | Immigration U.S. & Canada, April 2022

The federal and provincial governments are gradually relaxing the Temporary Foreign Worker (TFW) Program to address the current labour shortage. Here is an overview of the current and upcoming flexibilities, as well as a reminder of current updates regarding travel restrictions as of April 7, 2022: Increasing the number of occupations on the list of occupations eligible for Quebec's simplified TFW process One of the major flexibilities announced is the increase in the list of occupations eligible for Quebec's simplified Labour...

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07 Apr
Chapter News

FSB Statement Welcoming Smooth Transition Away from LIBOR

Following years of preparation, the end of 2021 marked a major milestone in the transition away from LIBOR. The FSB welcomes the smooth transition to robust alternative rates across global markets, primarily overnight risk-free or nearly risk-free rates (RFRs). The absence of any significant market disruptions is a testament to the magnitude of market participants’ efforts and the level of attention from the regulators and industry bodies to support the transition to RFRs. The statement notes that all GBP, EUR, CHF,...

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07 Apr
Chapter News

ECB Speech | An EU financial system for the future

Keynote speech by Luis de Guindos, Vice-President of the ECB, at the Joint conference of the ECB and the European Commission on European financial integration | Frankfurt am Main, 6 April 2022 | Introduction It is my great pleasure to open today’s conference. I would like to use this opportunity to reflect on some important developments in financial integration that have taken place over the last two years, and assess them from the perspective of an EU financial system for the...

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07 Apr
Member News

Noerr | Electronic signatures in transactions

A look at how signatures are used in connection with transactions and the management of portfolio companies In times of advancing globalisation and new technologies allowing large amounts of data to be exchanged in encrypted form in fractions of a second, traditional written form, i.e. only concluding contracts when the parties or their representatives are simultaneously present or by exchanging manually signed documents through the post, seems somewhat outdated. The call for digital solutions has become even louder in...

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06 Apr
Chapter News

U.S. FED | Speech by Governor Brainard on variation in the inflation experiences of households

Variation in the Inflation Experiences of Households | Governor Lael Brainard at the Spring 2022 Institute Research Conference, Opportunity and Inclusive Growth Institute, Federal Reserve Bank of Minneapolis, Minneapolis, Minnesota (via webcast) | It is a pleasure to join you to discuss differences in how households at different income levels experience inflation.1 I look forward to hearing from the panelists, who are doing important and interesting research on this topic. By law, the Federal Reserve is assigned the responsibility to pursue...

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