Chapter News

ECB | Inflation Diagnostics

Blog post by Philip R. Lane, Member of the Executive Board of the ECB | Identifying the medium-term inflation path in the current environment of high inflation, ongoing energy and pandemic-related shocks and the Russian invasion of Ukraine is a diagnostic challenge. In his ECB Blog post Philip R. Lane, Member of the ECB’s Executive Board, describes some of the key analytical issues involved. Summary This blog post describes the diagnostic challenges in identifying the medium-term inflation path in the current environment...

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Member News

Arendt | AML V & register of beneficial owners: a public access feature found to be invalid by the CJEU

On 22 November 2022, the European Court of Justice ruled that the “public access” feature of the Luxembourg register of beneficial owners would be invalid in view of the Charter of Fundamental Rights of the European Union and more specifically the fact that it would constitute a serious interference with the fundamental rights to private life and to the protection of personal data. We wish to inform you that on 22 November 2022 the European Court of Justice (“CJEU”) ruled...

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Chapter News

ECB Speech | Policy normalisation to fight inflation

Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Luke Heighton on 16 November 2022 | We’ve done a good amount of monetary policy normalisation, says Chief Economist Philip R. Lane in an interview with Market News. We will continue to raise interest rates until we’ve reached a level that will make sure inflation comes back to our 2% target in a timely manner. What do you expect December’s Eurosystem growth and inflation projections to...

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Chapter News

EU Commission proposes a new EU instrument to limit excessive gas price spikes

Today, the EU Commission has continued its response to the ongoing energy crisis by proposing a Market Correction Mechanism to protect EU businesses and households from episodes of excessively high gas prices in the EU. This complements measures to reduce gas demand and ensure security of supply through diversification of energy supplies. The new mechanism aims to reduce the volatility on European gas markets while safeguarding the security of gas supply. Following the Russian invasion of Ukraine and weaponisation of...

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Member News

Loyens & Loeff | Labour Deal broadens night work rules for e-commerce in Belgium

E-commerce is having a less successful impact in Belgium than in its neighbouring countries. This is partly due to the earlier in the day enforcement of stricter rules on night work. In Belgium, these rules already apply as from 20h. For e-commerce, being able to process and ship orders in the shortest timeframe possible is essential. The tardier introduction of night work in other countries leads to tough competition and is a pull-factor for organising e-commerce activities abroad. The labour...

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Member News

Littler World Cup Matchups Part 2: Short-Term Sick Pay

The World Cup is fast approaching! Over the course of the tournament, we will be publishing our own matchups, comparing various aspects of labor and employment law in some of the participating countries. In Part I of this series, we examined paid vacation and annual leave entitlements available to employees who might be taking some time off next week to enjoy the games. What about employees who are feeling under the weather and call in sick? What are the...

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Member News

Littler World Cup Matchups Part 1: Paid Vacation and Annual Leave

The World Cup starts November 20, 2022 and will end in mid-December. Soccer1 fans from around the globe will be tuning in for the matches, or perhaps even attending in person. We thought we’d set up our own employment law matchups to coincide with some actual team pairings. The goal of this series is to compare and contrast various aspects of labor and employment law in the participating countries.2 So let’s get the ball rolling! Some of these games will take place...

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Chapter News

EU agrees to COP27 compromise to keep Paris Agreement alive and protect those most vulnerable to climate change

At the COP27 UN Climate Change Conference which ended on Sunday morning in Sharm el-Sheikh, Egypt, the European Commission showed ambition and flexibility to keep the goal of limiting global warming to 1.5 degrees within reach. After a difficult week of negotiations, a strong and united European effort helped secure a hard-fought deal to keep the targets of the Paris Agreement alive. The EU's bridge-building also helped to put in place balanced new funding arrangements, with an expanded donor...

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Chapter News

Making Schengen stronger: Bulgaria, Romania and Croatia are ready to fully participate in the Schengen area

The Commission calls upon the Council to take the necessary decisions without any further delay to allow Bulgaria, Romania and Croatia to fully participate in the Schengen area. In a Communication adopted today, the Commission takes stock of the three Member States' strong record of achievements in the application of the Schengen rules. For years, these Member States have significantly contributed to the well-functioning of the Schengen area, including during the time of the pandemic and more recently when faced...

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Member News

NautaDutilh | DORA: the forthcoming EU legal framework on Digital Operational Resilience in the financial sector

The rules on the use of information and communication technology ("ICT") in the financial sector were traditionally country and institution-specific to a great extent and predominately focused on the financial impact of ICT risks. Several recent EU legislative acts and guidelines of the European Banking Authority ("EBA"), the European Insurance and Occupational Pensions Authority ("EIOPA")and the European Securities and Markets Authority ("ESMA"), such as the 2021 Guidelines on ICT and security risk management and the cloud outsourcing guidelines, have...

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