19 Mar
Member News

Arendt | Online intermediation services: new law for implementing the Platform-to-Business Regulation

Entry into force of the law of 5 March 2021 on certain rules for the implementation of Regulation (EU) No. 2019/1150 of the European Parliament and of the Council of 20 June 2019 on promoting fairness and transparency for business users of online intermediation services. On 14 March 2021, the law of 5 March 2021 on certain rules for the implementation of Regulation (EU) No 2019/1150 of the European Parliament and of the Council of 20 June 2019 on promoting...

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19 Mar
Member News

Vulcan Insight | European Commission Presents Digital COVID Travel Certificate

With the EU’s vaccine rollout beginning to gather steam and the beginning of the continent’s coveted summer season only a few months away, the European Commission this week presented its much-anticipated digital green travel certificate. Designed to bring some badly needed relief to citizens desperate for some holidays abroad, a travel industry which has in essence been shut down for almost a year, and the southern European economies heavily reliant on tourism, the certificate is seen by many as the...

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18 Mar
Member News

Loyens & Loeff | The ECJ affirms the right to remain silent for individuals

In a recent decision, the ECJ affirms the right to remain silent for individuals prosecuted for administrative offence of a criminal nature and denies to member states the possibility to impose sanctions for failure to cooperate to the investigation. Such protection is however not recognized to legal persons. Factual and procedural background The Italian market surveillance authority (the “Consob”) fined an individual a total amount of 300,000 EUR for administrative offences of insider dealing and unlawful disclosure of inside information. It...

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18 Mar
Brexit News, Member News

Noerr | Brexit: European Commission submits draft adequacy decision

By entering into a Trade and Cooperation Agreement, the EU and the United Kingdom averted a “no deal” Brexit at the last second and established a provisional legal foundation until 30 June 2021 for data transfers to the United Kingdom (for more background, please see: Data protection implications since January 1, 2021). However, no decision has been reached as yet on whether and how data transfers into the United Kingdom would be possible after the transitional period. On 19 February 2021, the European Commission published...

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18 Mar
Member News

Stout | Navigating the Energy Market During COVID-19: Accounting Considerations

Watch On-Demand Webinar: Navigating the Energy Market During COVID-19 "When we look at this past year with COVID-19, it made for a very interesting year. Some of the more pertinent areas that we've found have been across the area of impairment, modifications to contracts for both leases and debt, restructuring activities, disposals of assets and businesses going concern issues as well as accounting for the PPE loans that were a direct result of events from this year. Given our time today,...

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18 Mar
Chapter News

ECB starts publishing compounded euro short-term rate (€STR) average rates on 15 April 2021

Compounded €STR average rates and compounded index based on €STR to be published as of 15 April 2021 Average rates to cover 1-week, 1-month, 3-month, 6-month and 12-month tenors Publication via ECB’s Market Information Dissemination (MID) platform and Statistical Data Warehouse The European Central Bank (ECB) will start publishing compounded €STR average rates and a compounded index based on the euro short-term rate (€STR) on 15 April 2021. Publication will take place on each TARGET2 business day at 09:15 CET...

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18 Mar
Chapter News

EU Commission launches European Innovation Council to help turn scientific ideas into breakthrough innovations

The European Commission launched today, at an online event, the European Innovation Council (EIC) with a budget of over €10 billion (in current prices) for 2021-2027 to develop and expand breakthrough innovations. Building on a successful pilot programme under Horizon 2020, the new EIC is not only a novelty of Horizon Europe, but it is also unique in the world: it combines research on emerging technologies with an accelerator programme and a dedicated equity fund, the European Innovation Council Fund, to scale up innovative...

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18 Mar
Chapter News

ECB | Luis de Guindos: Banking union: achievements and challenges

Speech by Luis de Guindos, Vice-President of the ECB, at the High-level conference on “Strengthening the EU’s bank crisis management and deposit insurance framework: for a more resilient and efficient banking union” organised by the European Commission | Setting up the banking union was a crucial step in ensuring the stability of the euro area financial system and strengthening Economic and Monetary Union (EMU). The global financial crisis and sovereign debt crisis highlighted the need to make faster progress towards...

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17 Mar
Chapter News, COVID-19 News

Coronavirus: EU Commission proposes a Digital Green Certificate

Today the European Commission is proposing to create a Digital Green Certificate to facilitate safe free movement inside the EU during the COVID-19 pandemic. The Digital Green Certificate will be a proof that a person has been vaccinated against COVID-19, received a negative test result or recovered from COVID-19. It will be available, free of charge, in digital or paper format. It will include a QR code to ensure security and authenticity of the certificate. The Commission will build a gateway...

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17 Mar
Chapter News

ESMA sees high risk for investors in non-regulated crypto assets

The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes its first Trends, Risks and Vulnerabilities (TRV) Report of 2021. The Report analyses the impact of COVID-19 on financial markets during the second half of 2020 and highlights the increasing credit risks linked to significant corporate and public debt overhang, as well as the risks linked with investments in non-regulated crypto-assets. Continued high risk across financial markets Globally, risks in markets under ESMA’s remit remain very high. The...

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