27 Jan
Member News

Littler | Employment Law Implications of the New Anti-Money Laundering Act

When Congress overrode President Trump’s veto of the National Defense Authorization Act on January 1, 2021, it enacted the Anti-Money Laundering Act (AMLA), which was part of the defense authorization bill.  In doing so, Congress implemented the most sweeping anti-money-laundering statute since the USA PATRIOT Act.  In addition to a number of regulatory reforms and new disclosure requirements, the AMLA has put into place new whistleblower protections, adding to the range of statutes that have effectively created anti-retaliation provisions...

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27 Jan
Member News

NautaDutilh | Dutch company law status update 2021

This newsletter provides a status update on the most important (draft) legislative proposals in the field of Dutch company law and looks back at some of the legislation that entered into force in 2020. PENDING LEGISLATION Bill on the management and supervision of legal entities The Management and Supervision of Legal Entities Act (Stb. 2020, 507) will enter into force on 1 July 2021. This act standardises the rules on the management and supervision of legal entities and will have consequences for...

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26 Jan
Brexit News, Member News

Osborne Clarke | What you need to know Post-Brexit

With the end of the transition period on 31 December 2020, the formal and legal process of Brexit has completed. However, this is just the beginning of a new trading relationship and opportunities for the EU and UK and for international business operating across the region. As Osborne Clarke assess the impact of the deal negotiated between the EU and UK, you may have questions that are still unanswered around the impact of the deal and what this means...

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26 Jan
Member News

Grassi & Co. | Has Your Nonprofit Outgrown its General Ledger?

In the last decade alone, the accounting industry has seen general ledgers evolve drastically from paper and Excel-based programs to more sophisticated platforms. But even with the widespread availability and cost-effective features of these new tools, many nonprofits are still relying on general ledgers that are local to the organization's devices or housed in onsite servers that require VPN login when working remotely. The COVID-19 pandemic was a stark reminder of the limitations these systems impose on a finance department's...

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26 Jan
COVID-19 News

RPJ Law | The Family First Coronavirus Relief Act: Important Updates for Employers and Employees in 2021

In response to the onset of the Covid-19 pandemic, in March 2020, Congress enacted the Families First Coronavirus Response Act (FFCRA) – the first ever paid federal leave program for private employers. The FFCRA as enacted required private employers with less than 500 employees to provide up to 80 hours of paid sick leave at employees’ regular rate of pay for employees who were unable to work due to a Covid-19 related quarantine order or while awaiting a medical...

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26 Jan
Chapter News

EU Commission study finds positive impact of trade agreements on agri-food sectors

The EU trade agenda is set to have an overall positive impact on the EU economy and the agri-food sector, according to a new study published today. Trade agreements are due to result in substantial increases in EU agri-food exports, with more limited increases in imports, creating a positive trade balance overall. The study also confirms that the EU's approach to grant a limited amount of lower duty imports (through tariff rate quotas) is the best approach in terms...

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26 Jan
Chapter News

State aid: EU Commission approves €2.9 billion public support by twelve Member States for a second pan-European research and innovation project along the entire battery value chain

The Commission has approved, under EU State aid rules, a second Important Project of Common European Interest (“IPCEI”) to support research and innovation in the battery value chain. The project, called “European Battery Innovation” was jointly prepared and notified by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden. The twelve Member States will provide up to €2.9 billion in funding in the coming years. The public funding is expected to unlock an additional €9 billion in private...

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26 Jan
Chapter News

ECB sets up climate change centre

New unit, operational as of early 2021, to strengthen and bring together ECB work on climate Decision reflects growing importance of climate change for the economy and the ECB’s policy Climate change centre will shape and steer climate agenda The European Central Bank (ECB) has decided to set up a climate change centre to bring together the work on climate issues in different parts of the bank. This decision reflects the growing importance of climate change for the economy and the...

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26 Jan
Chapter News

Speech by Christine Lagarde | Climate change and central banking

Keynote speech by Christine Lagarde, President of the ECB, at the ILF conference on Green Banking and Green Central Banking | Frankfurt am Main, 25 January 2021 In the famous fable “Belling the Cat”, a group of mice gather to discuss how to deal with a cat that is eating them one by one. They hatch a plan to put a bell on the cat so they can hear it coming and escape before being caught. When it comes to who will...

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25 Jan
Member News

Orrick | The Anti-Money Laundering Act of 2020

On January 1, 2021, Congress enacted the Anti-Money Laundering Act of 2020 (the “AML Act”), which contains the most significant reforms to U.S. AML laws since the USA PATRIOT Act of 2001. Below are some key provisions of the AML Act, and here is a more detailed description of the statute’s major provisions. Key Provisions Beneficial Ownership Registry. Creates a new, long-awaited central registry for beneficial ownership information of shell companies and other smaller, less regulated entities, which will be available to financial...

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