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...

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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...

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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...

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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...

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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...

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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...

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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...

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01 May
Member News

Jaguar Freight | Weekly Roar: No Linear Path Forward

In this week’s Roar: mixed signs in Europe, fuel at a low point, taking initiative on climate disclosure rules, continued trade tension between the U.S. and China, and air cargo embracing digitization. Economic improvement does not show up as a straight line on a chart, and usually includes a meandering path. Take the situation in Europe. Their service sector is booming — seeing their biggest rebound since 2009. Unfortunately, it’s being overshadowed by a manufacturing sector that continues to decline....

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01 May
Member News

EIB Global Gateway: EU Commission and EIB announce funds worth €18 billion to boost investments in climate action and sustainable economies

The European Commission and the European Investment Bank have announced €18 billion of financing under Global Gateway, Europe’s investment strategy for partner countries. This will boost investment in Global Gateway’s priority areas – climate action, clean energy and connectivity – in Europe’s partner countries around the world. In particular, these projects will aim to help bridge the global climate finance gap and support prevention, adaptation and mitigation. Speaking from the Global Citizen NOW Summit in New York, President von der Leyen...

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01 May
Chapter News

EU Parliament | Ending fast fashion: tougher rules to fight excessive production and consumption

Textile products must last longer and be easier to reuse, repair and recycle The destruction of unsold or returned textiles should be banned Human, social and labour rights must be respected during production Need for binding targets and measures addressing the entire lifecycle of textiles Environment Committee MEPs adopted their recommendations today for EU measures to ensure that textiles are produced in a circular, sustainable and socially just way. MEPs say textile products sold in the EU should be more...

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