Member News

20 Jan
COVID-19 News, Member News

TABS | Update Paycheck Protection Program

The Small Business Administration (SBA) published their guidelines for the Second Round of PPP loans (“PPP2”) which was signed into law late December (The Consolidated Appropriations Act, 2021). This is the second largest federal stimulus package following the previous CARES Act that was signed earlier in 2020. This second round offered another round of Paycheck Protection Loans (“PPP2”), which could potentially benefit some of TABS’ clients. Like the first round of PPP, the loans are meant to help small businesses who...

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20 Jan
Member News

WSGR | European Commission Proposes New Rules for Digital Platforms

On December 15, 2020, the European Commission (EC) unveiled a set of proposals to regulate digital platforms. The draft laws include antitrust-related requirements, addressed by the Digital Markets Act (DMA) and more general regulatory requirements, addressed in the Digital Services Act (DSA). The DMA/DSA package will apply to all digital services, including social media, online marketplaces, and other online platforms, meaning tech companies active in Europe will have a new set of rules to follow. According to the EC, the...

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20 Jan
Member News, Trade & TTIP Related

Orrick | The Practical Implications of the EU-China Investment Deal

On December 30, 2020, the EU and China announced the conclusion of the negotiations of the investment treaty, the EU-China Comprehensive Agreement in Investments (CAI). The CAI represents a strategic opportunity for EU companies, financial institutions and funds to invest in China. This treaty contains two significant overarching commitments by China: market access and fair competition. The CAI did not appear overnight and certainly not without hard work on both sides; it took seven years and 35 rounds of...

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19 Jan
Member News

Vulcan Insight | CDU leadership battle set to shape Germany and Europe’s future direction

After almost two decades at the helm of Germany’s centre-right CDU, and more than 15 years as Chancellor, Angela Merkel is set to step back from politics. This weekend, the CDU’s party congress is set to decide who will lead the party and, thus, most likely take Germany into the 26 September General Election campaign. After months-long delays caused by the COVID-19 pandemic and debates around whether the congress should be held in-person, the three candidates will now be elected...

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19 Jan
Member News

Houthoff Financial Regulatory Update | Reporting incidents, anti-money laundering, sustainable finance and more

In this News Update, we inform you on the obligation to report incidents immediately, analyse some EU anti-money laundering developments, and update you on the secondary legislation associated with the Taxonomy Regulation. Finally, we highlight some other important financial regulatory publications. AFM – call for reporting incidents immediately The Dutch Authority for the Financial Markets ("AFM") recently called on the companies under its supervision to report incidents immediately. Due to the coronavirus outbreak and the increase in working from home, integrity and information...

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14 Jan
Brexit News, Member News

Arendt | Overview of the VAT impacts of Brexit

With the end of the transition period as of 1 January 2021, the UK officially became a third country with respect to the EU, meaning that the EU VAT Directive has ceased to apply to it. It is therefore important to review the VAT treatment of cross-border transactions with the UK. Below you will find a brief summary of the main changes in this regard. 1) Supply of goods Note that Northern Ireland is still considered part of the EU for supplies...

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14 Jan
Member News, Trade & TTIP Related

Jaguar Freight | ‘The Weekly Roar’: Global Freight Updates 01/11/21

With short-term freight snags, limitations against EU regulators, U.K. lockdowns, an avg. of 30 vessels at anchor waiting at the Ports of LA/ Long Beach all last week, increasing supply chain debt, decreasing blanked sailings, and a tight air cargo market 2021 is already off to a rocky start for supply chain all over the globe. It’s been over a week since public officials finalized the Brexit trade deal otherwise known as the European Union-United Kingdom Trade and Cooperation Agreement. Because of...

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14 Jan
Member News

WSGR | U.S. Supreme Court May End Key FTC Consumer Protection Enforcement Practice

Justices Considered Whether Certain Court-Imposed Monetary Remedies Are Legal On Wednesday, January 13, 2021, the U.S. Supreme Court heard arguments in the much-anticipated case of AMG v. FTC, which challenges the Federal Trade Commission's (FTC's) authority to obtain monetary relief in court under Section 13(b) of the FTC Act. The Court's decision is likely to have a significant impact on the relief the FTC is able to obtain in federal court proceedings. Petitioners AMG seek to overturn the Ninth Circuit's award of monetary relief...

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14 Jan
Brexit News, Member News

Osborne Clarke | Regulatory Outlook: January 2021

Osborne Clarke just published the latest edition of their Regulatory Outlook. In this edition, they focus on the EU-UK Trade and Cooperation Agreement. The new relationship between the EU and the UK changes the regulatory and compliance landscape for businesses trading across those markets. Some of these changes have an immediate impact and may require businesses to take action now. More broadly, for many, the cumulative impact of having to comply with diverging regulatory regimes will be additional friction, inconvenience...

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13 Jan
Member News

NautaDutilh | Accidental Americans demand that Luxembourg and Belgium halt illegal transfers of personal data to the U.S.

The Association of Accidental Americans (AAA) filed, on 22 December 2020, two simultaneous complaints in Luxembourg and Belgium, demanding an immediate halt to the transfer of European citizens’ personal data to the United States. Under the U.S. Foreign Account Tax Compliant Act (FATCA) of 2010, financial institutions all over the world are required to send the U.S. administration the tax data of all customers considered to be « U.S. Persons ». These include « Accidental Americans, » or people with...

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