03 Apr
Chapter News

ECB Interview | Are Big Profits Keeping Prices High? Some Central Bankers Are Concerned

Interview with Fabio Panetta, Member of the Executive Board of the ECB, published as an article by Eshe Nelson entitled “Are Big Profits Keeping Prices High? Some Central Bankers Are Concerned.” in The New York Times, 31 March 2023 | After months of fretting about whether workers’ rising pay would keep inflation uncomfortably high, central bankers in Europe have another concern: large company profits. Companies that push up their prices above and beyond what is necessary to absorb higher costs could be fueling...

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03 Apr
Member News

Loyens & Loeff | Pay Transparency Directive adopted by the European Parliament

Today, 30 March 2023, the European Parliament adopted the legislative proposal of the European Commission to strengthen the application of the principle of equal pay for equal work or work of equal value between men and women through pay transparency and enforcement mechanisms (the Pay Transparency Directive). The Pay Transparency Directive has some important consequences for employers as well as employees, which we have described in more detail below. Background The right to equal pay between women and men for equal...

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03 Apr
Member News

CLA | Getting out of Excel Spreadsheets

Like many accountants, I love Excel. However, there are times when Excel is not always the best tool to get the job done. Here are some indications that it may be time to get out of Excel: The Excel workbooks have become complex & unwieldly to maintain, creating risk of errors in formulas and data. Excel is being used as a collaborative tool, such as in the budget process or consolidated reporting. Excel is doing the job one of...

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31 Mar
Chapter News

EU Council and Parliament reach provisional deal on renewable energy directive

The Council and the Parliament negotiators today reached a provisional political agreement to raise the share of renewable energy in the EU’s overall energy consumption to 42.5% by 2030 with an additional 2.5% indicative top up that would allow to reach 45%. Each member state will contribute to this common target. This provisional political agreement will now need to be endorsed by both institutions. The Council and Parliament negotiators provisionally agreed on more ambitious sector-specific targets in transport, industry, buildings and...

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31 Mar
Member News

Vulcan Insight | Agreement reached on expanding EU-wide EV charging infrastructure

As part of the European Commission’s ‘Fit for 55’ package, a proposal to revise the 2014 directive on alternative fuels infrastructure and turn it into a regulation was subject to interinstitutional negotiations since November 2022. On 28 March, the Council and the European Parliament have found a provisional political agreement to deploy more recharging and refuelling stations for alternative fuels in the EU. The Commission issued its proposal in July 2021. Overall, the proposal’s goal is to tackle interoperability and...

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30 Mar
Member News

ACG Resources | How to Onboard Effectively

Hiring a new employee can be exciting and stressful for both the employer and the employee. This initial period it is important to onboard which means make sure that the new employee transitions easily into the company and the employer can assess if this is going to be a good match. One of the best ideas when it comes to onboarding effectively is to have someone else who recently onboarded to assist the new hire. This will help eliminate a...

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30 Mar
Member News

Cozen O’Connor | USCIS Ends COVID-Related Flexibilities

U.S. Citizenship and Immigration Services (USCIS) announced that certain flexibilities it first announced in March 2020 to address the COVID-19 pandemic will end on March 23, 2023. Applicants must respond to any notices or requests from USCIS dated after March 23, 2023 by the deadlines listed in the notice or request. This includes: Requests for Evidence (RFEs); Continuations to Request Evidence (N-14); Notices of Intent to Deny; Notices of Intent to Revoke; Notices of Intent to Rescind; Notices of Intent...

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30 Mar
Chapter News

EU Commission proposes more transparency and less red tape for companies to improve business environment in the EU

Today, the European Commission adopted a proposal for a Directive making it easier for companies to expand the use of digital tools and processes in EU company law. The proposal aims to facilitate cross-border companies' operations and to increase business transparency and trust by making more information about companies publicly available at EU level. It will also cut red tape for cross-border businesses, saving around €‎437 million of administrative burden per year, thanks to an EU Company Certificate or...

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30 Mar
Chapter News

ECB interview | Price vs financial stability: no trade-off

Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted on 22 March by Kolja Rudzio | 29 March 2023 | In recent weeks, banks have collapsed in the US and Switzerland. Could the same happen in the eurozone? Let me first strongly emphasise that what we’re seeing in the euro area in terms of tensions is a spillover from the US and from Switzerland. And please remember that we had a severe banking crisis in the...

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30 Mar
Member News

Mason Hayes & Curran | DORA – What it Means for Your Contracts

“DORA”, or the Digital Operational Resilience Act, means Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector. Its impacts on the financial services sector are wide ranging. In this article, we focus on its regulation of third party ICT contracting and the specific requirements it imposes in this regard. Entry Into force in January 2025 Since our previous update the final text of DORA has been published....

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