29 Apr
Member News

NautaDutilh | Insufficient cybersecurity measures under GDPR: 100k EUR fine in Belgium & key fines elsewhere

On 26 April 2021, the Litigation Chamber of the Belgian Data Protection Authority (BDPA) handed down its first fine specifically for cybersecurity failures. This decision follows others where the Litigation Chamber considered cybersecurity failures as a factor among others (see e.g. decision of 22 January 2021), and it should serve as a signal for other organisations: all controllers and processors must ensure that the technical and organisational measures they have taken to keep personal data secure are appropriate. Otherwise, the bill...

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29 Apr
Chapter News

EU COVID-19 certificate must facilitate free movement without discrimination

Universal, accessible, timely and free-of-charge testing needed across the EU EU COVID-19 certificates are not travel documents Member states should not impose quarantines/tests on certificate holders On Thursday, Parliament adopted its negotiating position on the proposal for a certificate to reaffirm the right to free movement in Europe during the pandemic. MEPs agreed that the new “EU COVID-19 certificate” - instead of Digital Green Certificate, as proposed by the Commission - should be in place for 12 months and not...

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29 Apr
Chapter News

ECB | Euro area economic and financial developments by institutional sector: fourth quarter of 2020

Euro area net saving decreased to €508 billion in four quarters to fourth quarter of 2020, from €549 billion one quarter earlier Household debt-to-income ratio increased to 96.3% in fourth quarter of 2020 from 93.8% one year earlier Non-financial corporations' debt-to-GDP ratio (consolidated measure) at 84.0% in fourth quarter of 2020, up from 76.8% one year earlier Total euro area economy Euro area net saving decreased to €508 billion (5.6% of euro area net disposable income) in 2020 compared with €549 billion in the four quarters to the...

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29 Apr
Brexit News, Chapter News

EU-UK trade and cooperation agreement: Council adopts decision on conclusion

The Council has today adopted a decision on the conclusion of the EU-UK trade and cooperation agreement and the security of information agreement. This is the last step for the EU in the ratification of the agreements. The UK will now be notified of the finalisation of the internal EU procedures. Following this, the agreements and accompanying texts will be published in the Official Journal of the EU before the end of the month. On 1 May 2021, both agreements...

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29 Apr
Chapter News

ECB Speech | All the way to zero: guiding banks towards a carbon-neutral Europe

Keynote speech by Frank Elderson, Vice-Chair of the Supervisory Board and Member of the Executive Board of the ECB, at the conference on “The Role of Banks in Greening Our Economies” organised by the European Bank for Reconstruction and Development and Hrvatska narodna banka | It is a great honour for me to be with you today to discuss the role of banks in greening the economy. And I am very happy to delve into the topic of climate change...

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28 Apr
Brexit News, Chapter News

EU Parliament formally approves EU-UK trade and cooperation agreement

Political groups strongly welcome the agreement Parliament must have a say in the implementation of the agreement Agreement will enter into force on 1 May after Council conclusion Parliament voted with a large majority in favour of granting its consent to the agreement setting the rules of the future EU-UK relationship. The consent decision was adopted by 660 votes for, five against and 32 abstentions, while the accompanying resolution, setting out Parliament’s evaluation of and expectations from the deal, passed...

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28 Apr
Chapter News

U.S. Federal Reserve issues FOMC statement

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened. The sectors most adversely affected by the pandemic remain weak but have shown improvement. Inflation has...

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28 Apr
Member News

FTI Consulting | Can Data Privacy Be Used as a Competitive Advantage?

The ambiguity around protecting data and regulatory compliance creates a tension for companies that they must navigate to stay competitive. The way personal data is collected and used by companies today has gone from a novel strategy to a business imperative. A company’s success — or demise — can depend on the kinds of data it maintains and how it utilizes this trove in all aspects of its operations. As data and data privacy evolve into valuable assets for businesses and...

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28 Apr
Member News

Grassi | Introducing our newest NJ team members

Grassi is pleased to announce that Gramkow, Carnevale, Seifert, & Co., LLC has joined the Grassi family. This addition will more than double the number of Grassi partners and professionals serving clients and business partners out of our New Jersey office. Oradell-based Gramkow, Carnevale, Seifert & Co., LLC has a rich 37-year history of offering advisory, tax, audit, accounting and payroll services to family-owned and privately held businesses. Their professionals also meet a wide range of tax, estate planning, concierge...

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27 Apr
Member News

MJV | Edge AI: discover the new limits of Artificial Intelligence

If you follow our blog, you’ve probably heard of the term Edge Computing. Now, let’s present a similar concept, but related to Artificial Intelligence: Edge AI. Ten years ago, we would not imagine that Artificial Intelligence would be at today’s levels. Now, it is part of industries and even devices for customer service. The time has come to take a step forward. The new frontier is Edge AI. In today’s post, you will understand what this concept is and why you...

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