Member News

Brexit News, Member News

Brexit Frustration: English Court Blocks EMA’s Attempt to Get Out of London HQ Lease

By Oliver FitzGerald | Mason Hayes & Curran, The  High Court of England and Wales ruled this month that the European Medicines Agency (EMA) is not able to terminate the twenty-five year lease of its Canary Wharf headquarters in London. EMA relocated its headquarters to Amsterdam following Brexit and argued that the Lease, which has a current rent of £13 million per year, was terminated by ‘frustration’ as a result of Brexit. Introduction In this article, we look at the concept of...

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Member News

When, Where and Whether: The Confusing Law of Third-Party Evidence

By Benjamin J. Eichel & Matthew H. Adler | Pepper Hamilton  The U.S. Supreme Court has demonstrated with increasing frequency over the past 20 years a particular fascination with arbitration. There have been at least 20 Scotus cases in the past decade on arbitration, including three cases in the current term—two in the first week in October. By contrast, even though there remains far more cases in federal court than in arbitration, and even though personal jurisdiction is both a frequently...

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Member News, Trade & TTIP Related

WTO Dispute Settlement Panel’s Decision to Rule on National Security Exception May Have a Major Impact on Trump Administration’s Section 232 Tariffs

By Thompson Hine International Trade on April 11, 2019 A World Trade Organization (WTO) dispute settlement panel ruling, Russia – Measures Concerning Traffic in Transit, issued last week on a member’s use of the WTO’s so-called “national security exception” under Article XXI of the General Agreement on Tariffs and Trade (GATT) may have a significant impact on the Trump administration’s application of that exception under U.S. law, Section 232 of the Trade Expansion Act of 1962, to impose tariffs on imports worldwide. Currently, the Trump...

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Member News

European Parliament approves new digital Copyright rules

On March 26, 2019, the European Parliament voted in favor of the new Copyright Directive, in the text resulting from the Trilogue. The Directive contains a variety of provisions concerning, among others, the status of the press, cultural heritage institutions and digital platforms. It tackles the use of journalistic content online, the measures to be adopted by online platforms in order to identify and prevent copyright infringements and new copyright exceptions such as for text and data mining. The text...

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Member News

FDIC Reminds Small Banks of Need to Oversee Technology Service Providers

By Richard P. Eckman, Mark T. Dabertin, Avinoam D. Erdfarb | Pepper Hamilton  The need to control  risks associated with using third-party technology service providers was reemphasized by the FDIC for institutions with less than $1 billion in assets in a new financial institutions letter (FIL) FIL-19-2019, “Technology Service Provider Contracts.” Released on April 2,  2019.  This FIL was prompted by failings in third-party oversight uncovered in recent examinations. It reiterates guidance previously issued in FIL-44-2008, “Guidance for Managing Third-Party Risk,” and emphasizes...

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Member News

Culture and Conduct Reform: A Permanent Mindset Change

By William R. Rhodes | March 19, 2019 | Brown University Panel Thank you to Mark Blyth. It is a pleasure to be here at the Rhodes Center, in the Watson Institute, here at my alma mater Brown University. I am delighted to be participating in this panel. Thanks to all of you and my fellow panelists. We are here to discuss bank conduct and culture. A subject of great importance to me personally. I remember my more than 50 years of...

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Member News, Trade & TTIP Related

Section 301 Tariffs on certain EU merchandise

The USTR issued a press release late yesterday regarding the potential imposition of additional tariffs on certain products from the European Union. The additional tariffs would be imposed pursuant to Section 301 of the Trade Act of 1974 and would affect approximately $11 Billion in goods.  The USTR states that the tariffs are being contemplated in response to subsidies that the EU has provided to European aircraft manufacturer Airbus.  The tariffs are split between two “Annexes”: one annex covering...

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Member News

Overview of German Banking Regulation

By Jens H. Kunz & Klaudyna Lichnowska |Noerr The EU and German financial sector has undergone significant changes in recent years and the regulatory environment continues to evolve. Dr. Jens H. Kunz and Klaudyna Lichnowska from our practice group Financial Services Regulation have taken the opportunity to contribute an article to GLI’s “Banking Regulation 2019” including an overview of the regulatory architecture in Germany and addressing the key regulatory topics as well as the most recent developments in the field of...

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Member News

Why Is Leading Abroad So Hard?

After reading all the most recent and trendy books on organizational leadership in the global marketplace, you assume it is time to put this new knowledge to work. However, after attempting to master these new skills with colleagues and employees across cultural contexts, you find yourself frustrated. How can someone who is a recognized leader in your field struggle so much with leading across cultures? Then it happens. Your boss’ boss steps into your office unannounced to praise your achievements...

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Member News

Iran Sanctions Update

By Stephen Kaplitt, Esq. | AEM Carnelutti Executive Summary: The Trump administration’s withdrawal from the Iran nuclear deal means that U.S. sanctions on Iran are more sweeping and comprehensive than ever before. The administration has continued to escalate its efforts to maximize economic pressure on the Iranian government. Today, the U.S. designated the Islamic Revolutionary Guard Corps (IRGC) as a “Foreign Terrorist Organization”, which significantly increases the number of Iranian-linked businesses and institutions that may potentially be “tainted” entities. Traps...

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