Chapter News

Winter 2021 Economic Forecast: A challenging winter, but light at the end of the tunnel

Europe remains in the grip of the coronavirus pandemic. The resurgence in the number of cases, together with the appearance of new, more contagious strains of the coronavirus, have forced many Member States to reintroduce or tighten containment measures. At the same time, the start of vaccination programmes throughout the EU provides grounds for cautious optimism. Economic growth poised to recover as containment measures ease The Winter 2021 Economic Forecast projects that the euro area economy will grow by 3.8% in both 2021...

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Member News

Littler | What to do about “Global COVID Nomads” and Other Wandering Workers Who Telecommute from Abroad for Personal Reasons

Technology facilitates remote work in ways that, years ago, just were not possible. Take telecommuting. These days, all kinds of jobs that had to be performed at an employer site are now performed remotely. Some call center workers, for example, now work from home using home telephones — no brick-and-mortar call center needed. Some secretaries now telecommute using laptops and the internet. Some teachers now teach remotely using laptops and video links. There are architects, doctors, lawyers and judges who, these...

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Member News

WSGR | EDPB Publishes New Guidance for Data Breach Notification

On January 18, 2021, the European Data Protection Board (EDPB), comprised of all national supervisory authorities (SAs) of the European Union, published draft guidelines for data breach notification1 (the Guidelines). The Guidelines provide useful insight into how regulators apply the General Data Protection Regulation (GDPR) personal data breach notifications rules. Specifically, they describe six common types of personal data breaches (i.e., ransomware, data exfiltration attacks, internal human risk, lost or stolen device and paper documents, misposted data, and social engineering attacks), and...

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Chapter News

VAT fraud clampdown: International scam with memory cards uncovered in The Netherlands

The criminal network defrauded Dutch tax authorities of an estimated €9 million On 10 February 2021, the investigation service of the Dutch tax authorities -FIOD (Fiscale Inlichtingen en OpsporingsDienst) busted a criminal network involved in international VAT fraud with electronic devices traded via an online company. Fraudsters established a complex trading scheme with Secure Digital (SD) memory cards for electronic devices, which is believed to have defrauded the Dutch treasury of an estimated €9 million between 2017 and 2019. The...

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Chapter News

Plenary highlights: Covid-19 recovery, vaccines, circular economy

MEPs approved the EU’s key instrument to help countries recover from Covid-19, debated the vaccines situation and called for tighter recycling rules. Covid recovery On Tuesday, MEPs approved the Recovery and Resilience Facility, designed to help EU countries recover from the Covid-19 pandemic. The impact of Covid-19 on young people and sport MEPs called on the Commission and EU countries to do more to prevent the pandemic affecting young people and the sports sector in a report adopted on Wednesday. Vaccinations In a debate on Wednesday, MEPs said...

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Member News

Vulcan Insight | With pressure mounting Commission President admits mea culpa

Following weeks of mounting pressure on herself and the institution over her vaccine strategy and the fallout of the accidental almost-triggering of Article 16, European Commission President Ursula von der Leyen made her way to the European Parliament to defend herself. Speaking to Members of the European Parliament during this week’s hybrid plenary session, von der Leyen defended the fundamental approach agreed between her and all EU leaders mid-last year that all vaccines for the EU27 should be procured jointly...

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Member News

Troutman Pepper | ‘More Privacy Please’ February Edition

Do you want a simple way to keep current on important privacy changes? Avoid sleepless nights wondering whether you missed a privacy speed bump or pothole between annual updates? Worry no longer. Troutman Pepper is pleased to offer More Privacy Please, a monthly newsletter recapping significant industry and legal developments, as well as trends in the areas of cybersecurity, information governance, and privacy. U.S. Laws and Regulations 2021 Washington Privacy Act Under Review in Senate Committee. Washington’s state legislature is again...

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Chapter News

Speech | The role of central banks in the greening of the economy

Paris, 11 February 2021 | Speech by François Villeroy de Galhau, Governor of the Banque de France | I would like to welcome you to the Banque de France for this 5th edition of the Rencontres on "Climate Change and Sustainable Finance", organised jointly with Option Finance. Central banks’ commitment to the climate cause may seem obvious today, and this despite the urgency of addressing the Covid pandemic.  But it was not the case five years ago, and few issues...

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Chapter News

Winter 2021 Economic Forecast: A challenging winter, but light at the end of the tunnel

Europe remains in the grip of the coronavirus pandemic. The resurgence in the number of cases, together with the appearance of new, more contagious strains of the coronavirus, have forced many Member States to reintroduce or tighten containment measures. At the same time, the start of vaccination programmes throughout the EU provides grounds for cautious optimism. Economic growth poised to recover as containment measures ease The Winter 2021 Economic Forecast projects that the euro area economy will grow by 3.8% in both 2021...

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Member News

The EU bank insolvency framework: could less be more?

by Giovanni Majnoni, Gabriele Bernardini, Andreas Dal Santo and Maurizio Trapanese | Andreas Dal Santo is Managing Director of Solidus Capital Group, a member of the EACCNY | This paper shows that the present European framework for bank crisis management in the Banking Union (BU) follows multiple criteria that, when applied in combination, can generate unintended consequences that undermine the effectiveness of the system, highlighting a case of fallacy of composition. The paper suggests that a piecemeal reform would not be...

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