Statements and remarks by President Charles Michel | 15 October 2020
First of all I would like to apologise for the absence of the President of the European Commission. At the beginning of the meeting she was informed that a person considered a ‘close contact’ had tested positive. She herself tested negative today. Nevertheless, in accordance with the national rules, she has decided to self-isolate.
We have had the opportunity today to hold a debate as planned on the future relationship...
Earlier this year, we published a news update that discussed the Minister of Economic Affairs' plans to implement a new ex-ante screening mechanism for investments in companies involved in vital processes or working with sensitive technologies in the Netherlands. On 8 September 2020, the bill setting up this ex-ante screening mechanism, the Economy and National Security Bill (the "ENSB"), was published for consultation.
In this update, we provide an overview of the new rules, which are expected to enter into force in early 2021. The timing...
On Wednesday, the G20 Finance Ministers agreed to prolonged talks within the Organisation for Economic Co-operation and Development (OECD) to develop an international digital tax on large digital companies until the summer of 2021 – dashing hopes of an agreement by the end of the year.
The lack of progress from the 140 OECD countries, including European states, the U.S. and China was met with frustration by some. France’s Digital Minister Cedric O, who has long since publicly supported unilateral...
The Gap Fund aims to back the climate-smart development that will also help cities chart a sustainable recovery from the COVID-19 pandemic |
2020 has cast in sharp relief three overlapping global crises. A pandemic devastates lives and health systems. A weakening global economy threatens to push 175 million people into poverty and 73 million more into extreme poverty. All the while, climate change stretches the limits of our ecosystems, economies, and communities.
Cities bear the brunt of all three. Major population...
Not everyone realizes that, in a formal sense, Brexit has actually already happened – with effect from midnight (European time) on 31 January 2020 the UK ceased to be a member of the European Union. However you will be forgiven for not noticing much difference because with immediate effect the UK entered into the transition period which runs until 11 pm UK time on 31 December 2020. The UK and EU continue to negotiate an agreement on the future...
Competition Commissioner Vestager presented a sneak peak of her plans for the future of EU merger control on the 30th anniversary of the EU Merger Regulation. The proposed plans include a simplification of the notification procedure and a new approach towards the system of referral to ensure that significant transactions, particularly in the digital and pharmaceutical industries, no longer escape Commission scrutiny.
The Commission calls upon national competition authorities to refer transactions to it that remain below notification thresholds, but potentially have...
This article is part of Portolano’s quarterly “INFORM@ Corporate” Newsletter. Click here to subscribe. |
1. The Schrems II judgment in a nutshell
On July 16, 2020 the Court of Justice of the European Union (“CJEU” or the “Court”) upheld a cornerstone judgment in the Data Protection Commissioner v. Facebook Ireland Limited, Maximilian Schrems case (Case C-311/18—or the “Schrems II judgment”), concerning data transfers under EU Regulation 679/2016 (“GDPR”) and in particular transfers from Europe to the United States.
In the judgment, the Court struck...
This report provides an update on work by the FSB, in collaboration with the international standard setting- bodies, to address market fragmentation. The report was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting in October.
In June 2019, the FSB identified four areas for further work to address market fragmentation: This latest progress report provides an update on work in these areas:
Deference. The International Organization of Securities Commissions published a Report on Good Practices on...
As Europe learns to live with the pandemic, the development and swift global deployment of safe and effective vaccines against COVID-19 remains an essential element in the eventual solution to the public health crisis. In this context, the Commission is working to ensure that there will be access to safe vaccines across Europe, and encourages a coordinated approach of vaccination strategies for deployment of the vaccines. Today, ahead of the discussion of EU Leaders, the Commission is presenting the key...
Partners Emily Jones and Steve Wilson provide a joint letter on Osborne Clarke's 20th anniversary in the US market |
OCUS | 20 years’ young
October 2000 seems a very long time ago…honestly, January 2020 seems a lifetime ago, but that’s a different story! Back in the late 90s, the "relics" at Osborne Clarke had been considering how best to support our US client base from afar without disrupting the relationships we had with so many amazing law firms in the...