08 Oct
Chapter News

EU climate law: MEPs want to increase 2030 emissions reduction target to 60%

Greenhouse gas budget to ensure EU reaches Paris goal Independent scientific body set up to monitor progress All direct and indirect fossil fuel subsidies should be phased out by 2025 at the latest All member states must become climate neutral by 2050, says Parliament in a vote on the EU climate law, calling for ambitious 2030 and 2040 emissions reduction targets. On Wednesday, Parliament adopted its negotiating mandate on the EU climate law with 392 votes for, 161 against and...

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07 Oct
Member News

CLA | Considering Selling or Merging? Review SBA’s Latest PPP Transfer Guidelines

Key insights The SBA released a Procedural Notice related to Paycheck Protection Program (PPP) Loans and Changes of Ownership on October 2, 2020. The Procedural Notice provides information concerning the required procedures for changes of ownership for an entity that has received PPP funds. On October 2, 2020, the Small Business Administration (SBA) released a Procedural Notice on Paycheck Protection Program Loans and Changes of Ownership. The Procedural Notice sets forth a PPP borrower’s responsibilities in the event of a change of ownership, including...

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07 Oct
Chapter News, COVID-19 News

European Commission to issue EU SURE bonds of up to €100 billion as social bonds

Today, the European Commission announces that it will issue its forthcoming EU SURE bonds of up to €100 billion as social bonds. To that end, the Commission has adopted an independently evaluated Social Bond Framework. This Framework is meant to provide investors in these bonds with confidence that the funds mobilised will serve a truly social objective. This announcement follows the Council's approval to grant financial support to 16 Member States under the SURE instrument to help protect jobs and people...

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07 Oct
Chapter News

EU Commission launches new 10-year plan to support Roma in the EU

The European Commission has today adopted a new 10-year plan, including a proposal for a Council Recommendation, to support Roma in the EU. There are seven key areas of focus: equality, inclusion, participation, education, employment, health, and housing. For each area, the Commission has put forward new targets and recommendations for Member States on how to achieve them, both of which will serve as important tools to monitor progress and ensure that the EU makes more headway in providing the vital support that so many Roma living in the EU still need. Vice-President...

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06 Oct
Brexit News, Member News

Littler | Brexit and Immigration – How do the rights of overseas workers change at the end of 2020?

With the Brexit transitional period coming to a close, and given the frequent movement of workers of all nationalities across the EU, many UK employers have questions about regulations governing work authorizations for their employees. This GQ|Littler article summarizes the new immigration system, which will apply to both EU and Non-EU Nationals in the same way from 1 January 2021. See below, which compares the applicable rules and identifies where action is required. Image courtesy of GQ Littler. From 1 January 2021 a...

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06 Oct
Chapter News

EU Commission assesses and sets out reform priorities for the countries aiming to join the EU

Today, the Commission adopted its Communication on EU enlargement policy and the 2020 Enlargement Package: The annual reports, assessing the implementation of fundamental reforms in the Western Balkans and Turkey, are presented together with clearer and more precise recommendations and guidance on the next steps for those partners, in line with the enhanced enlargement methodology. EU High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, Josep Borrell, said: "The citizens of the Western Balkans are part of Europe and...

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06 Oct
Member News

CILcare-CBSET nominated for the prestigious PRIX Galien Medstartup award in the ‘Best Collaboration Dedicated to the Developing or Underserved Populations Worldwide’ Category

Montpellier, France — September 30, 2020  — CILcare, a leading CRO specializing in hearing disorders, announced today that the company and its partner, CBSET Inc., a not-for- profit translational research institute, have been nominated to receive a prestigious Prix Galien MedStartUp award for their collaboration in fighting hearing loss; the collaborators are nominated in the category ‘Best Collaboration Dedicated to the Developing or Underserved Populations Worldwide.’ The Galien MedStartUp fosters, recognizes and rewards excellence in scientific innovation to improve the...

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06 Oct
Chapter News, Trade & TTIP Related

European Parliament: EVP Dombrovskis speech at the hearing for the Commissioner-Designate for Trade

Statement | 2 October 2020 | By Executive Vice President Valdis Dombrovskis, Commissioner-Designate for Trade Honourable Chairman, Esteemed Members of the European Parliament, I was honoured when President von der Leyen placed her trust in me to continue to lead our shared European trade agenda. I hope that at the end of this hearing, you too will feel satisfied that you can place your trust in me. Honourable members, you already know me. I have worked with this house on many...

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05 Oct
Chapter News

IMF | Public Investment for the Recovery

Governments around the world are taking extraordinary measures to respond to the COVID-19 crisis. While maintaining the focus on addressing the health emergency and providing lifelines for households and businesses, governments need to prepare economies for the transition to the post-COVID-19 world—including by helping people get back to work. Public investment has a central role to play. Our new Fiscal Monitor shows that increasing public investment in advanced and emerging market economies could help revive economic activity from the sharpest and deepest...

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05 Oct
Member News

Loyens & Loeff | Liquidity Stress Testing: the CSSF applies the ESMA Guidelines in Luxembourg

The Luxembourg supervisory authority for the financial sector, the CSSF, issued on 29 September 2020 a new circular regarding the ESMA Guidelines on liquidity stress testing in UCITS and AIFs, that entered into force on 30 September 2020. With this Circular, the CSSF confirms that, as national competent authority, it applies the ESMA Guidelines and has integrated them into its administrative and regulatory approach. Liquidity Stress Testing: the CSSF applies the ESMA Guidelines The Luxembourg supervisory authority for the financial sector...

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