May 22, 2020 | Why every organization should be thinking about their cyber preparedness now – even in the midst of a global pandemic. As storefronts shut down, supply chains freeze up, consumer behaviors transform, and the world’s workforce goes remote, most organizations across the globe are facing major disruptions and are currently in crisis mode.  This all means that business continuity plans and crisis communications playbooks, are likely coming off the shelf and being put to use. But what happens if,...

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April 23, 2020 | As many businesses face major business interruption and heightened cyber risk through working from home at scale, Osborne Clarke’s international Cyber team, combined with S-RM Intelligence and Risk Consulting, hosted on 8 April 2020 a webinar covering 10 key cyber security questions that companies have been asking during the current COVID-19 crisis. We have made an audio recording of that webinar available online. This document sets out a high-level summary of some of the issues discussed...

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May 13, 2020 | The Italian version of this article was first published on Wired. As partial lockdowns across Europe are extended, the coronavirus outbreak is generating an acceleration in the “going to digital” processes of companies across different sectors. E-commerce, more than others, is experiencing such acceleration. Artificial intelligence, augmented reality, digital marketing and new business models based on innovative data’s exploitation, will be key tools for offering a more efficient and reliable service to the final consumer. It...

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May 27, 2020 | After weeks of anticipation, debate, joint proposals and counterproposals, European Commission President Ursula von der Leyen today presented the executive’s plan for a revised long-term budget to lead the EU through its post-COVID19 recovery. The Commission today proposed a plan for a significantly beefed-up MFF of €1.1 trillion, as well as an additional so-called Recovery Instrument worth €750 billion for a combined recovery effort of €1.85 trillion. Speaking to the European Parliament, President von der Leyen stressed to MEPs that...

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May 27, 2020 | In recent years, many companies have “leaned out” their supply chains, negotiating enterprisewide arrangements with suppliers and service providers to reduce costs, turnaround time and on-hand inventory. While these changes have generated efficiencies and improved profit margins, they have also increased exposure to supply chain disruptions like the ones currently being caused by the spread of COVID-19 and the governmental responses to contain it. Examples of significant supply chain disruption are rampant in today’s news —...

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May 26, 2020 | Previously published in Reuters - BreakingViews NEW YORK (Reuters) - The Covid-19 pandemic will spark hugely damaging debt defaults in developing countries, hampering rebuilding and recovery. Many emerging markets borrowed heavily both from official governmental lenders, as well as from international private sector investors, mostly in U.S. dollars. Now they are confronted by rising debt service costs at a time of rising economic difficulties and capital flight. We must start planning for this right away.  World Bank...

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May 21, 2020 | • The U.S. Supreme Court reversed the federal fraud convictions of two New Jersey officials who had engineered massive traffic gridlock on the George Washington Bridge in "Bridgegate." • The court determined that obtaining money or property was not the object of the fraudulent schemes charged and that a state's action in modifying traffic flow (even if deceitful) does not create a property right. • The justices also found that the costs of employees' time in Bridgegate were...

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May 26, 2020 | Guidance in accordance with IFRS Update May 2020 As expected, the effects of COVID-19 are evolving rapidly and are creating unique circumstances for each entity. Recent developments by the International Accounting Standards Board (IASB) aim to alleviate some of the challenges posed to entities as they navigate through financial reporting implications as a result of COVID-19.  We offer the following high-level overview of a few additional financial reporting considerations. Impairment under IFRS 9 Financial Instruments With regards to a significant...

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May 25, 2020 | Today is GDPR Day – two years ago, the GDPR became applicable. When 25 May 2018 came about, the world did not end, nor were there dawn raids by data protection authorities in every corner of the European Union. Instead, what followed was a steady trickle of cases being taken up by data protection authorities, in parallel with the gradual adoption of guidance at both national and EU level. With two years of enforcement and interpretation behind...

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May 26, 2020 | The Centers for Disease Control and Prevention (CDC) recently issued guidance titled “CDC Activities and Initiatives Supporting the COVID-19 response and the President’s Plan for Opening America Up Again.” The 60-page document details the initiatives, activities, and tools the CDC is using to support the effort to reopen the country amid the ongoing COVID-19 emergency, as well as interim guidance for child care programs, schools and day camps, employers with high-risk workers, restaurants and bars, and...

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