05 May
Member News

Vulcan Insight | MEPs agree on Negotiating Mandate for the Artificial Intelligence Act

After many months of negotiations, members of the European Parliament (MEPs) have found a compromise on the flagship legislative proposal on Artificial Intelligence (AI), the AI Act.  The Act could become a global standard, similar to the GDPR which had major implications for firms worldwide. The European law on AI was proposed by the Commission in April 2021 and could become the first AI law by a major regulator worldwide. After the Commission published its proposal, EU ministers green-lighted a general...

Read more

04 May
Chapter News

European Central Bank (ECB) raises interest rates

4 May 2023 | The inflation outlook continues to be too high for too long. In light of the ongoing high inflation pressures, the Governing Council today decided to raise the three key ECB interest rates by 25 basis points. Overall, the incoming information broadly supports the assessment of the medium-term inflation outlook that the Governing Council formed at its previous meeting. Headline inflation has declined over recent months, but underlying price pressures remain strong. At the same time, the...

Read more

04 May
Member News

Houthoff | European Court of Justice rules on GDPR damages

The Court of Justice of the EU ("CJEU") has issued a landmark decision on the interpretation of Article 82 of the General Data Protection Regulation ("GDPR"): A mere breach of the GDPR is not sufficient for an award of material or non-material damages within the meaning of Art 82(1) GDPR; Non-material damage need not meet a certain degree of seriousness to be eligible for compensation; The amount of damages can be determined under domestic law in compliance with the...

Read more

04 May
Member News

Steptoe | “Gatekeeper” Status Under EU Digital Markets Act: Deadline to Notify European Commission Approaching

The EU Digital Markets Act (DMA) regulates the economic power of larger platforms considered “gatekeepers” and imposes new rules to prevent such gatekeepers from engaging in unfair practices. The DMA entered into application on May 2, 2023, and organizations have until July 3, 2023 to assess whether they fall within its scope and need to notify the European Commission. Which organizations are subject to the Digital Markets Act (DMA)? The DMA applies to core platform services providers. Core platform services providers...

Read more

03 May
Member News

Wilson Sonsini | UK Regulator Says Game Over to Microsoft/Activision Deal

On April 26, 2023, the UK’s Competition and Markets Authority (CMA) blocked Microsoft’s $68.7 billion acquisition of Activision Blizzard over concerns the deal “would alter the future of the fast-growing cloud gaming market.”1 The deal was announced in January 2022 and would have been the industry’s largest ever. The U.S. Federal Trade Commission (FTC) is currently litigating to block the merger, arguing the deal would harm competition both in cloud gaming and consoles, while other regulators, including the European...

Read more

03 May
Chapter News

EDA–U.S. Department of Defense Administrative Arrangement Signed

Brussels, 26 April 2023 | Today, the European Defence Agency (EDA) and the Department of Defense of the United States of America (DoD) have formalised a framework for cooperation through the signing of an Administrative Arrangement (AA). The EDA-DoD AA provides for stronger transatlantic cooperation in defence in specific areas, including in the exchange of information. The conclusion of this AA is a strong political signal, delivering on the tasking of EU and U.S. leaders in the June 2021 EU-US Summit...

Read more

02 May
Member News

Littler | UK Employment Law Reform – Horizon Scanning of Employment Bills

Despite the absence of the previously promised Employment Bill, new Bills that will, if passed, make changes to employment laws, have been coming thick and fast over the last few months. Many of these smaller bills have been put forward as Private Members Bills and contain proposals that were originally set to be included in the much-anticipated Employment Bill, which has been dropped. Given the flurry of activity and scattered approach, we pull together in one place the key proposals...

Read more

02 May
Chapter News

Digital Services Act: EU Commission designates first set of Very Large Online Platforms and Search Engines

Today, the Commission adopted the first designation decisions under the Digital Services Act (DSA), designating 17 Very Large Online Platforms (VLOPs) and 2 Very Large Online Search Engines (VLOSEs) that reach at least 45 million monthly active users. These are: Very Large Online Platforms: Alibaba AliExpress Amazon Store Apple AppStore Booking.com Facebook Google Play Google Maps Google Shopping Instagram LinkedIn Pinterest Snapchat TikTok Twitter Wikipedia YouTube Zalando Very Large Online Search Engines: Bing Google Search The platforms have been designated based on...

Read more

02 May
Brexit News, Chapter News

FSB Statement to encourage final preparations for the USD LIBOR transition

The finish line for US dollar (USD) LIBOR transition at end-June 2023 is now less than three months away. There has been significant progress made to date, and market participants must continue to act in order to ensure an orderly transition and to support the foundations necessary for a sustainable and stable financial system going forward. Given the limited time ahead, the FSB stresses that it is critical that market participants act expeditiously to ensure that their legacy contracts...

Read more

02 May
Member News

Loyens & Loeff Appoints New Partner, Christine Hohl

Loyens & Loeff is very proud to announce that Christine Hohl has been appointed as local partner effective 1 May. Christine advises clients in financing transactions including acquisition financings, asset financings, real estate financings, debt issuances and securitisations. Her clients include banks, financial institutions, large corporates, and sponsors. “Christine strongly complements our existing practice and she will add significant industry knowledge and expertise to our Banking & Finance capabilities in Switzerland.” said Judith Raijmakers, Head of the Swiss Banking & Finance...

Read more

«‹189190191192193›»