On Wednesday, European Commission Vice-Presidents Valdis Dombrovskis and Margrethe Vestager, joined by Internal Market Commissioner Thierry Breton presented an update to the Commission’s Industrial Strategy which had been adopted shortly before the coronavirus crisis hit the continent. It is intended to boost the EU’s economic recovery and counteract various technological and industrial dependencies towards Asia and North America, which had proved to be a significant problem during the health crisis.    With this strategy, the Commission aims to continue developing a more effective industrial policy and intervene more actively in the market. This involves targeted state support for specific industries to keep or re-shore production to the EU. Breton announced...

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This week’s special newsletter provides an overview of notable changes in Canadian and American immigration over the month of March, including all measures directly related to the COVID-19 pandemic. Here is the latest news as of May 6th 2021. CANADA New pathway to permanent residency for over 90,000 essential temporary workers and international graduates Effective May 6, 2021, Immigration, Refugees and Citizenship Canada (IRCC) will begin accepting applications under the following three (3) streams: 20,000 applications for temporary workers in health care ...

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Companies involved in M&A deals falling below the EU and national notification thresholds need to think twice about their deal’s potential impact on competition from now on. The Commission has kept its promise to tackle (non-notifiable) killer acquisitions and published Guidance on its upward referral mechanism. The Guidance has already been put to the test through a national referral of the (non-notifiable) Illumina/Grail acquisition to EU level. Until it is clear whether the EU courts share the Commission’s views, companies – particularly in the...

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It seems a paradox, but in reality it can happen that modern cars, despite being increasingly reliable and powerful, sometimes become weaker as a result of the ever-growing number of their electrical functions. Up until the 1980s, a car would often break down because of a punctured tyre or a mechanical failure. Over recent years, however, a battery malfunction has become the most common problem when a car comes to a stop on the road. There are some indisputable analyses:...

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Key insights The proposal for higher corporate income tax rates, as well as significant changes to existing international tax rules, would directly impact corporate taxpayers, particularly those with foreign subsidiaries. Additional incentives have been proposed to spur clean energy, onshoring, and community-based investments. On March 31, 2021, the White House released a summary factsheet of the “Made in America Tax Plan,” a tax proposal that would generate revenue to pay for the recent “American Jobs Plan” spending proposal. The White...

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Changes in consumer behaviour and attitudes may be around for some time, what can retailers do to address them? The reopening of the UK’s “non-essential” retail cohort in towns, cities and shopping centres this month feels like a confident, if carefully managed, step forward into a brave new world. Hindered by the immense initial disruption and subsequent false dawns in 2020, this is a watershed moment for the retailers who have battened down the hatches for 12 months and counted down...

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In this News Update, we discuss some important developments concerning the IFR and IFD, sustainable finance and the EU Taxonomy, and the IDD Single Rulebook. We also look at the 2021 legislative letters of the AFM and DNB, and highlight some other financial regulatory publications. If you wish to stay informed, you can subscribe to the News Update Financial Regulatory. DNB – IMPORTANT DEVELOPMENTS CONCERNING IFR/IFD The Dutch Central Bank (De Nederlandsche Bank, "DNB") has drawn attention to developments related to the new...

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