19 Jul
Member News

The Weekly Vulcan View | Analysis of Latest EU Developments 15-19 July

Key Events This Week Von der Leyen Secures Commission Presidency On Tuesday MEPs narrowly ratified Ursula von der Leyen as the new President of the European Commission – making her the first woman to fill the EU’s top job. The former German Defence Minister won ratification by a margin of just 9 votes. Von der Leyen pledged to put forward a “green deal for Europe” in her first 100 days in office, including legislating for net zero emissions by 2050 and...

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19 Jul
Brexit News, Member News

Brexit: important clarifications published by the CSSF

The CSSF has published on 15 July 2019 two press releases concerning mandatory notifications for UK firms as well as for UCIs and their managers in the context of Brexit. 1.Mandatory CSSF notification for UK firms in the context of Brexit On 15 July 2019, the CSSF issued a press release 19/33 regarding mandatory notification requirements applying to UK firms in the context of the withdrawal of the United Kingdom from the European Union. The CSSF reminds that firms that are currently...

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18 Jul
Chapter News

Antitrust: European Commission opens investigation into possible anti-competitive conduct of Amazon

The European Commission has opened a formal antitrust investigation to assess whether Amazon's use of sensitive data from independent retailers who sell on its marketplace is in breach of EU competition rules. Commissioner Margrethe Vestager, in charge of competition policy, said: "European consumers are increasingly shopping online. E-commerce has boosted retail competition and brought more choice and better prices. We need to ensure that large online platforms don't eliminate these benefits through anti-competitive behaviour. I have therefore decided to take a very...

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18 Jul
Brexit News, Member News

Brexit: CSSF informs UK entities of actions to be taken in anticipation of a hard Brexit

By Marc Meyers, Partner | Loyens & Loeff The CSSF issued two press releases reminding firms authorised in the United Kingdom as well as undertakings for collective investment (UCIs) and/or their managers established in the United Kingdom of the consequences of a hard Brexit and requiring them to notify the CSSF and/or apply for appropriate authorisation if they intend to continue their activities in Luxembourg after a hard Brexit. UK financial services firms as well as UCIs and/or their managers...

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18 Jul
Member News

Synthetic Reality & Deep Fakes: Considerations for Employers and Implications of the Rise of Deep Fakes in the Workplace

By Chase Perkins, Natalie Pierce, Aaron Crews, and Jill Weimer | Littler In an age where computer generated imagery (CGI) and digital effects enable entire film genres to exist, like Marvel’s superhero series the Avengers or Guardians of the Galaxy, audiences have no expectation that movies they consume depict actual events or reflect reality. It is therefore reasonable to assume that the context and forum of how digital media and information is communicated, observed and consumed informs our default expectations...

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17 Jul
Member News

New DOJ Policy on Corporate Antitrust Compliance Programs Provides Guidance for In-House Counsel and Compliance Officers

Michael J. Hartman | Jan P. Levine | Megan Morley | Robin P. Sumner | Pepper Hamilton On July 11, the U.S. Department of Justice rolled out a new policy to encourage stronger corporate antitrust compliance efforts. Announced by DOJ Antitrust Division head Makan Delrahim in remarks at the New York University School of Law, the new policy provides that DOJ prosecutors may weigh the strength of a corporate compliance program at both the charging and sentencing recommendation stages. As...

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17 Jul
Brexit News, Chapter News

Has The Brexit Disease Reached Leinster House? By John Bruton

By John Bruton, former Irish Prime Minister (Taoiseach) The fact that Dail Eireann voted yesterday to reject an EU Trade and Investment deal with Mercosur, that took 20 years to negotiate, and that few members could have read,  shows that Irish politics is not immune to the Brexit disease that has infected British politics.  This disease consists in thinking that there is no need to make concessions in international relations and that, instead, one “can have it all”, without paying any price. This delusion...

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17 Jul
Member News

The EIB welcomes the European Council’s call for more climate action

Statement by Werner Hoyer, President of the EIB: The EIB welcomes the European Council’s call for more climate action: ”The EU Bank welcomes the request by the European Council to step up our activities in support of climate action. Last week I informed EU economy and finance Ministers that the EIB was prepared significantly to step-up its support to climate action if the EU Member States asked us to do so. They have now given us a very clear steer,...

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17 Jul
Member News

New York Enacts Tougher Laws on Pay Equity and Salary History Inquiries

By Simone R.D. Francis & Shabri Sharma | Ogletree Deakins As we previously reported, the New York State Senate and Assembly recently passed Senate Bill 5248A and Senate Bill 6549. Governor Andrew Cuomo signed both bills, and both became law on July 10, 2019. Senate Bill 5248A, which amends Section 194 of the New York Labor Law, prohibits wage differentials based on any protected class. This law will take effect on October 8, 2019. Senate Bill 6549, now Section 194-A of...

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16 Jul
Chapter News

The United States Doesn’t Need Tariffs to Level the Playing Field

By Antonio de Lecea The US administration just announced a new $4 billion list of European Union (EU) products which it could apply additional tariffs on in response to the ongoing dispute between both sides of the Atlantic over government subsidies to aerospace companies Boeing and Airbus. While the United States thinks it can create better economic outcomes by forcing concessions out of Europe, this new action will only continue the lose-lose spiral of threats gripping the transatlantic trade relationship....

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