20 Jan
Member News

WSGR | European Commission Proposes New Rules for Digital Platforms

On December 15, 2020, the European Commission (EC) unveiled a set of proposals to regulate digital platforms. The draft laws include antitrust-related requirements, addressed by the Digital Markets Act (DMA) and more general regulatory requirements, addressed in the Digital Services Act (DSA). The DMA/DSA package will apply to all digital services, including social media, online marketplaces, and other online platforms, meaning tech companies active in Europe will have a new set of rules to follow. According to the EC, the...

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20 Jan
Member News, Trade & TTIP Related

Orrick | The Practical Implications of the EU-China Investment Deal

On December 30, 2020, the EU and China announced the conclusion of the negotiations of the investment treaty, the EU-China Comprehensive Agreement in Investments (CAI). The CAI represents a strategic opportunity for EU companies, financial institutions and funds to invest in China. This treaty contains two significant overarching commitments by China: market access and fair competition. The CAI did not appear overnight and certainly not without hard work on both sides; it took seven years and 35 rounds of...

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19 Jan
Brexit News, Chapter News

European Commission reorganises the “Task Force for Relations with the United Kingdom” into the “Service for the EU-UK Agreements”

The conclusion of the EU-UK Trade and Cooperation Agreement on 24 December 2020 means that the very successful mandate of the Task Force for Relations with the United Kingdom (UKTF) will come to an end. The UKTF will cease to exist on 1 March 2021. To support the efficient and rigorous implementation and monitoring of the Agreements with the UK, the European Commission has decided to establish a new Service for the EU-UK Agreements (UKS). The UKS will be part...

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19 Jan
Member News

Vulcan Insight | CDU leadership battle set to shape Germany and Europe’s future direction

After almost two decades at the helm of Germany’s centre-right CDU, and more than 15 years as Chancellor, Angela Merkel is set to step back from politics. This weekend, the CDU’s party congress is set to decide who will lead the party and, thus, most likely take Germany into the 26 September General Election campaign. After months-long delays caused by the COVID-19 pandemic and debates around whether the congress should be held in-person, the three candidates will now be elected...

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19 Jan
Member News

Houthoff Financial Regulatory Update | Reporting incidents, anti-money laundering, sustainable finance and more

In this News Update, we inform you on the obligation to report incidents immediately, analyse some EU anti-money laundering developments, and update you on the secondary legislation associated with the Taxonomy Regulation. Finally, we highlight some other important financial regulatory publications. AFM – call for reporting incidents immediately The Dutch Authority for the Financial Markets ("AFM") recently called on the companies under its supervision to report incidents immediately. Due to the coronavirus outbreak and the increase in working from home, integrity and information...

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14 Jan
Chapter News

ECB digital euro consultation ends with record level of public feedback

Over 8,000 responses received in online survey Privacy, security and pan-European reach ranked highest in European citizens’ preferences Detailed analysis to be published in spring, ahead of decision on project launch The European Central Bank (ECB) concluded its public consultation on the digital euro yesterday and will now analyse in detail the large number of responses. 8,221 citizens, firms and industry associations submitted responses to an online questionnaire, a record for ECB public consultations. The public consultation was launched on...

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14 Jan
Brexit News, Member News

Arendt | Overview of the VAT impacts of Brexit

With the end of the transition period as of 1 January 2021, the UK officially became a third country with respect to the EU, meaning that the EU VAT Directive has ceased to apply to it. It is therefore important to review the VAT treatment of cross-border transactions with the UK. Below you will find a brief summary of the main changes in this regard. 1) Supply of goods Note that Northern Ireland is still considered part of the EU for supplies...

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14 Jan
Member News, Trade & TTIP Related

Jaguar Freight | ‘The Weekly Roar’: Global Freight Updates 01/11/21

With short-term freight snags, limitations against EU regulators, U.K. lockdowns, an avg. of 30 vessels at anchor waiting at the Ports of LA/ Long Beach all last week, increasing supply chain debt, decreasing blanked sailings, and a tight air cargo market 2021 is already off to a rocky start for supply chain all over the globe. It’s been over a week since public officials finalized the Brexit trade deal otherwise known as the European Union-United Kingdom Trade and Cooperation Agreement. Because of...

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14 Jan
Member News

WSGR | U.S. Supreme Court May End Key FTC Consumer Protection Enforcement Practice

Justices Considered Whether Certain Court-Imposed Monetary Remedies Are Legal On Wednesday, January 13, 2021, the U.S. Supreme Court heard arguments in the much-anticipated case of AMG v. FTC, which challenges the Federal Trade Commission's (FTC's) authority to obtain monetary relief in court under Section 13(b) of the FTC Act. The Court's decision is likely to have a significant impact on the relief the FTC is able to obtain in federal court proceedings. Petitioners AMG seek to overturn the Ninth Circuit's award of monetary relief...

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14 Jan
Chapter News

IMF | Legally Speaking, is Digital Money Really Money?

Countries are moving fast toward creating digital currencies. Or, so we hear from various surveys showing an increasing number of central banks making substantial progress towards having an official digital currency. But, in fact, close to 80 percent of the world’s central banks are either not allowed to issue a digital currency under their existing laws, or the legal framework is not clear. To help countries make this assessment, we reviewed the central bank laws of 174 IMF members in a new IMF staff paper, and...

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