22 Sep
Brexit News, Chapter News

Financial stability: EU Commission adopts time-limited decision giving market participants the time needed to reduce exposure to UK central counterparties (CCPs)

The European Commission has today adopted a time-limited decision to give financial market participants 18 months to reduce their exposure to UK central counterparties (CCPs). A CCP is an entity that reduces systemic risk and enhances financial stability by standing between the two counterparties in a derivatives contract (i.e. acting as buyer to the seller and seller to the buyer of risk). A CCP's main purpose is to manage the risk that could arise if one of the counterparties defaults...

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21 Sep
COVID-19 News, Member News

CLA | Financial Planning in the Time of COVID-19

Key insights Develop a financial plan so you can evaluate strategies, consider creative alternatives, work through different scenarios, and collaborate with your team. Reimagine your business and forge a new path forward in how you serve your customers. Utilize dynamic modeling to understand the financial impact of business decisions — and so you can adjust accordingly. Identify leading indicators and forecast stimulus packages and tax credits. As you set your sights on 2021, it’s probably hard to imagine how to...

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21 Sep
Member News, New York Related News

Littler | DOL Revises FFCRA Regulations to Clarify Paid Leave Rules in Wake of New York Federal Court’s Decision

On September 11, 2020, the U.S. Department of Labor (DOL) issued revised regulations under the Families First Coronavirus Response Act (FFCRA) following a federal court’s decision that invalidated a handful of regulatory provisions interpreting the FFCRA.  Although the DOL was widely expected to address the court decision through revised regulations and/or court action, these new regulations throw additional curveballs for employers already struggling to comply with extensive COVID-19-related legislation. Decision Invalidating Parts of Rule and DOL’s Response On August 3, 2020,...

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21 Sep
Member News

IPTI | Update on Property Tax Issues: September 2020

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org). USA New York: For those hurting before COVID, property tax relief can’t come soon enough J. Crew, JC Penney, Pier 1 Imports, GNC, Brooks Brothers, Lord and Taylor,...

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21 Sep
Member News

EIB | How it works: Digital marketplaces transform industry

What is a digital marketplace? And how does it work? Find out how the platforms can help provide better services, more efficiently Digital marketplaces, such as Amazon.com or Booking.com, are expanding to new markets in industries such as energy or freight forwarding. Europe aims to take a bigger role in this area of business by setting up its own digital marketplaces. But what are digital marketplaces and how do they work. We asked Darragh Mac Neill and Salvatore Scagliarini, senior industry...

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21 Sep
Chapter News

EESC gives its input to the debate on decent minimum wages in Europe

The European Economic and Social Committee (EESC) has adopted the opinion Decent minimum wages across Europe following the European Parliament's request for an exploratory opinion. The request was made after the Commission announced that it was considering proposing a legal instrument to ensure that every EU worker is entitled to a minimum wage allowing a decent standard of living. Figures show that about one in ten workers in the EU earn around or below the national statutory minimum wage. In some countries,...

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21 Sep
Chapter News

EUIPO and EBAN sign an agreement to empower SMEs

The European Union Intellectual Property Office (EUIPO) and EBAN, the Europe leading early-stage investors network, have signed a collaboration agreement to promote and encourage activities and services that support small and medium enterprises (SMEs). Both organisations play an essential and complementary role in their shared vision to empower EU SMEs within the EU and beyond. Business angels are a significant driver of the innovation process in the EU start-up ecosystem and IP rights have long been recognised in the success...

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21 Sep
Chapter News

State of the Union: EU Commission adopts revised EU Emission Trading System State aid Guidelines

In line with the European Green Deal and the EU's objective to become the first climate neutral economy by 2050, the Commission adopted today revised EU Emission Trading System State aid Guidelines in the context of the system for greenhouse gas emission allowance trading post-2021 (the “ETS Guidelines”). They will enter into force on 1 January 2021 with the start of the new ETS trading period, and replace the previous Guidelines adopted in 2012. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “To sustainably...

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17 Sep
COVID-19 News, Member News

Troutman Pepper | DOL Revises FFCRA Leave Regulations

Who Needs to Know All employers covered by the FFCRA. Why It Matters Employers must ensure that their policies and practices addressing FFCRA leave are consistent with the DOL’s revised regulations. As we previously covered, on August 3, the U.S. District Court for the Southern District of New York (SDNY) struck down four parts of the regulations issued by the U.S. Department of Labor (DOL) implementing the Families First Coronavirus Response Act (FFCRA). Specifically, the decision invalidated the regulations’ availability of work requirement, intermittent...

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17 Sep
Member News

Portolano Cavallo | Business Judgement Rule: Directors May Be Held Liable for Disproportionate Organizational Decisions in Italy

The Court of Rome (Decision issued on April 8, 2020) recently issued a decision on the business judgment rule topic, which has been dealt with several times by Italian courts over the years. The recent decision is interesting because (i) it summarizes Italian case-law principles on the abovementioned topic and (ii) based on such principles, it concludes that even organizational decisions made by directors can trigger their liability. 1. The case at stake A newly established company controlled by the Italian foundation for doctors’ and...

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