On 9 July 2021, the Commission published its draft revised Vertical Block Exemption Regulation (VBER) and the accompanying Vertical Guidelines. One of the key points of the revision was to make the VBER fit for the digital age and adapt the rules to the strong growth of e-commerce. The revised VBER is tough on agreements that can hamper online competition. Suppliers are not allowed to de facto restrict online sales or advertising. Price parity clauses will also partially lose their current ‘unproblematic’ status. The...

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In the released draft of the Infrastructure Bipartisan Proposal on Monday, August 2, 2021, a last-minute digital asset tax reporting regime was added.1 This provision in the draft legislation, under Division H – Revenue Provisions, Title VI, Section 80603, may very well change in text over the next week and possibly sustain further changes as the legislation evolves, if it even passes. From the tax perspective, digital assets really have two dimensions: (1) reporting – meaning who must disclose what to...

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Do you want a simple way to keep current on important privacy changes? Avoid sleepless nights wondering whether you missed a privacy speed bump or pothole between annual updates? Worry no longer. Troutman Pepper is pleased to offer More Privacy Please, a monthly newsletter recapping significant industry and legal developments, as well as trends in the areas of cybersecurity, information governance, and privacy. U.S. LAWS AND REGULATION Connecticut Passes Stronger Data Breach Notification and Cybersecurity. The Connecticut legislature recently enacted a...

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As of 16 July 2021, market surveillance by authorities for non-food products will be fully harmonised in Europe. The new European Market Surveillance Regulation (EU) 2019/1020 (“MSR”) comprehensively regulates the procedure of Member State authorities for enforcing harmonised European product legislation for almost all non-food products in Europe. With the modern legislative instrument of the European regulation and broad scope covering more than 70 product-related harmonisation acts, the European legislator has eliminated previously existing national discretion in the structuring of market...

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When creating the game plan to enter the US marketplace, governmental regulation, contractual compliance and managing risk need to be included in the strategic planning process.  The focus on regulation, compliance and risk primarily deals with mitigating exposure to lawsuits. The following are 7 top liability exposures when marketing and selling products and services to US and Canadian businesses and consumers. 1. General Liability The business owners package insurance policy is the cornerstone of most commercial insurance portfolios. It contains general...

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This article is part of Portolano Cavallo’s “INFORM@Digital & IP” Newsletter. Click here to subscribe | On June 10, 2021, the Italian Data Protection Authority (hereinafter the “Garante”) adopted a new version of its guidelines for cookies and other tracking mechanisms (hereinafter the “Guidelines”). The Guidelines replace the resolution dated May 8, 2014, that set out simplified methods for providing information and obtaining consent regarding cookies. That resolution had already been superseded by changes to the applicable legal framework, including the entry into force of the...

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Information is the lifeblood of our economy. It enables us to run our businesses more efficiently, to sell smarter and to innovate. In parallel, our digital economy has also revolutionized the business of cybercrime. Instead of stealing information and going to all the trouble of selling it or using it themselves, cyber thieves are holding our systems and data hostage and demanding ransom for their release. With ransomware, digital files are virtually stolen, and a monetary ransom is demanded in...

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Fear that the spread of the Delta mutation of the covid would disrupt the global economy spurred the unwinding of risk-on positions. Interest rates fell, and the traditional funding currencies:  the US dollar, Swiss franc, and Japanese yen, strengthened most in July. While major US indices set new record highs, as did Europe's Dow Jones Stoxx 600, the MSCI Emerging Markets Equity Index fell 7%. The preliminary July PMI reports were below expectations in the US, UK, and France.  Japan's...

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The Committee on Foreign Investment in the United States (CFIUS or the “Committee”), an inter-agency committee headed by the Department of the Treasury, has released its 2020 Annual Report to Congress (Report). CFIUS is authorized to review transactions that could result in the control of U.S. businesses by foreign persons or companies, as well as non-controlling investments by foreign persons or companies in certain U.S. businesses which are involved in critical technology, critical infrastructure, or the gathering of sensitive personal data,...

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