21 Jul
Member News

Arendt | Money laundering and terrorism financing risks for payment institutions

The European Banking Authority published a report on money laundering and terrorist financing risks associated with EU payment institutions. The report finds that these risks may not be assessed and managed effectively by stakeholders. On 16 June 2023, the European Banking Authority (“EBA”) published a report on money laundering and terrorist financing risks associated with EU payment institutions. The report finds that these risks may not be assessed and managed effectively by stakeholders. 1. Background The EBA carried out an assessment of...

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21 Jul
Member News

Littler | Department of Commerce Launches the EU-U.S. Data Privacy Framework: Considerations for Multinational Employers that Transfer EU Personal Data to the United States

The Data Privacy Framework (DPF) replaces the invalidated EU-U.S. Privacy Shield. Under the EU General Data Protection Regulation (GDPR), personal data can be transferred from the EU to the United States only if an approved data transfer mechanism has been implemented. The DPF offers multinational employers a streamlined mechanism for transferring the personal data of EU personnel from subsidiaries in the EU to the parent corporation and its subsidiaries and affiliates in the United States. The DPF alleviates the...

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20 Jul
Member News

Datacolor | Color Precision in Automotive Interiors: Meeting Challenges Through Technology and Training

In the automotive industry, attention to detail is the driving force behind superior quality and design. Every element, every stitch, every material matters. Among these, a subtle yet influential factor takes center stage – color. While it’s often associated with exterior aesthetics, color in automotive interiors plays a critical role – it communicates personality, sets the ambiance, and signals quality. Interior Color: More Than Just an Aesthetic Choice Color in automotive interiors goes beyond mere decorative flair. It’s a silent narrative...

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19 Jul
Member News

BNY Mellon | Your Collateral Universe

Originally published on LinkedIn by Brian Ruane, BNY Mellon | As we reach the mid-point of 2023, BNY Mellon remains committed to building an integrated collateral universe centered on the three pillars of mobility, collateral optimization, and resiliency. The year started with increased optimism as markets stabilized, inflationary pressures receded, and the usage of the Fed Reserve Repo facility began to fall from its 2022-year end peak of 2.55T. We saw early signs of movement from the Fed Reserve Repo Facility...

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19 Jul
Chapter News

Cyber resilience act: member states agree common position on security requirements for digital products

With a view to ensuring that products with digital components, such as connected home cameras, smart fridges, TVs, and toys, are safe before entering the market, member states’ representatives (Coreper) reached a common position on the proposed legislation regarding horizontal cybersecurity requirements for products with digital elements (cyber resilience act). We are to celebrate the agreement reached today in the Council. An agreement that advances EU's commitment towards a safe and secure digital single market. IoT and other connected objects...

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19 Jul
Member News

Bennett Jones | Canada’s M&A Landscape Q2 2023: Steady in the Saddle

Like the many competitors at the recently wrapped Calgary Stampede, the M&A market in Q2 dusted itself off and showed its resilience. With continued strength in the middle market, an increase in distressed M&A and an uptick in go-private transactions, the first half of 2023 played out in many ways as we expected when we published our Look Ahead to 2023 in early January. A few things we did not anticipate included the collapse of Silicon Valley Bank (SVB) and...

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19 Jul
Member News

Troutman Pepper | More Privacy, Please – July 2023

Editor's Note: Texas, Oregon, and Delaware became the latest states to pass a comprehensive privacy bill, while the CPRA, Connecticut, and Colorado's privacy laws came into force. In the litigation world, the FTC filed an amended complaint against Kochava, and the HHS settled with a psychiatric center that disclosed patient information in an online review. This month, international efforts focused on AI, as European Parliament members approved the AI Act, and the Japanese privacy watchdog warned OpenAI about collecting...

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18 Jul
Chapter News

EU Commission presents Global Gateway Investment Agenda with Latin America and Caribbean

During today's EU-LAC Business Round Table as part of the EU-CELAC Summit, President Ursula von der Leyen has presented the EU-LAC Global Gateway Investment Agenda (GGIA), which revolves around the following pillars: a fair green transition, an inclusive digital transformation, human development and health resilience and vaccines. She also announced that Team Europe has committed over  €45 billion to support the reinforced partnership with Latin America and the Caribbean until 2027. President of the European Commission, Ursula von der Leyen, said: “I am pleased to announce that Team Europe...

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18 Jul
Member News

IPTI | Update on U.S. & EU Property Tax Issues: July 2023

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together below a selection of articles from IPTI Xtracts; more articles can be found on its website (www.ipti.org). UNITED STATES New York: NYC Property Tax System Cushions Near-Term Blow to Revenue Office values are based on lagging income and expense data City also phases in changes in...

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18 Jul
Chapter News

IMF | Crypto Needs Comprehensive Policies to Protect Economies and Investors

Establishing effective policies has become a priority for authorities amid the failure of some exchanges and collapse of certain crypto assets The global push for clearer policies on crypto assets has gained momentum under the Indian G20 Presidency. As this work continues, it’s important to recognize the progress already achieved, but more is needed, especially in implementing global standards. Last year’s failures of the FTX crypto trading platform and the Terra Luna stablecoin highlighted the urgency of establishing clear policies to...

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