On 19 December 2024, Luxembourg adopted Blockchain Law IV, which has opened up significant new opportunities to use the Luxembourg DLT framework, such as expanding this framework to include unlisted equity securities and facilitating the provision of services to issuers with additional flexibility in terms of custody arrangements. These innovations aim to encourage the financial industry to make use of blockchain and DLT in Luxembourg.   1. Background In tune with its strategy of fostering innovation and digitalisation in the financial sector,...

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Starting January 17, 2025, the Digital Operational Resilience Act (DORA) will require financial entities and their critical information and communication technology (ICT) service providers to comply with enhanced cybersecurity risk management measures. Its goal is to protect the financial sector from ICT disruptions and a new generation of cyber threats. Scope. DORA applies to financial entities in the EU, such as banks, crypto-providers, trading venues and insurers, and their designated critical ICT service providers. Providers, regardless of their location, must establish...

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Montpellier, January 17, 2024 – Cilcare, a biotechnology company specializing in auditory sciences, is pleased to announce the appointment of Dr. Bettina M. Cockroft as its new Chief Medical Officer. With over three decades of experience in clinical development, medical affairs, and a strong background in the biopharmaceutical industry, Dr. Cockroft brings a wealth of expertise in advancing innovative therapies for hearing disorders, particularly cochlear synaptopathy and sensorineural hearing loss. Dr. Cockroft’s distinguished career spans several senior roles in both large pharmaceutical...

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EU under intense pressure to address disinformation from tech giants The EU’s Digital Services Act (DSA), adopted in 2022, is designed to safeguard democracy from disinformation, hate speech, and manipulative election campaigns. However, enforcement of the DSA is facing obstacles as leading US firms drop content moderation practices. After taking over X (formerly Twitter), Elon Musk fired moderators and scrapped transparency measures tracking disinformation, in an attempt to turn the platform into a bastion of free speech. Silicon Valley CEOs are now following suit, in efforts to...

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Minimum wage increase As of January 1, 2025, employers in the Netherlands are required to comply with the updated statutory minimum wage. The fixed minimum hourly wage will be increased to €14,06 (for employees aged 21 and older) as per January 2025 and is indexed twice a year. Benefits that are linked to the minimum wage such as AOW, WIA and WW will also increase as a result. Maximum daily wage The maximum daily wage, determined by the Dutch Employee Insurance Agency...

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Dr. Mansur Pour Rafsendjani, Senior Partner of the German law firm Noerr Partnerschaftsges. mbB in Munich, Germany European ESG Developments When the President of the EU Commission, Ursula von der Leyen, took office in 2019, she had a mission: To make the EU the first climate-neutral area in the world by 2050, to cut pollution and restore a healthy balance in nature and ecosystems and to establish fair businesses that respect human rights. It is one of the most ambitious political...

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€1 billion EIB loan will help fuel NXP’s research, development, and innovation (RDI) efforts in Austria, France, Germany, The Netherlands and Romania Loan will accelerate NXP’s RDI aimed at various end markets including automotive, Industrial, and Internet of Things (IoT) Supporting critical EU technology is a key EIB priority as outlined in its strategic roadmap and furthers EIB’s commitment to the EU Chips Act NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that it has secured a €1 billion loan...

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Welcome to the US State Income Tax Digest. We highlight significant income and business tax legislation, regulatory adoptions, judicial decisions, and administrative guidance. We hope that you find the digest valuable and look forward to your feedback. Featured article: Louisiana enacts major tax changes in special session A package of bills approved by the Louisiana State Legislature in special session and signed by Governor Jeff Landry (R) on December 5 includes significant tax changes, including for income, franchise, and sales and...

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