21 Jun
Member News

Faegre Drinker | Ocean Shipping Reform Act Signed Into Law

On June 16, 2022, President Biden signed into law the Ocean Shipping Reform Act (OSRA), bipartisan legislation aimed at providing relief to U.S. importers, exporters, freight carriers, port operators and other companies experiencing sharp spikes in shipping costs and supply chain disruptions since the beginning of the COVID-19 pandemic. A focal point of the legislation is to curb rising demurrage and detention (D&D) charges imposed on importers and exporters, which have soared, globally, at unprecedented rates over the last year,...

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20 Jun
Chapter News

EU Commission sets out first analysis of the proposals stemming from the Conference on the Future of Europe

The European Commission has today adopted a Communication setting out how it can follow up on the outcome of the Conference on the Future of Europe. After a year of deliberations, the Conference came to an end on 9 May 2022. In the closing ceremony in Strasbourg, the Presidents of the European Parliament, Commission and Council received a final report from the Conference participants containing 49 wide-ranging, ambitious and forward-looking proposals and 326 individual measures. These proposals, covering nine broad themes,...

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20 Jun
Chapter News

The European Commission recommends to Council confirming Ukraine, Moldova and Georgia’s perspective to become members of the EU and provides its opinion on granting them candidate status

Today, the European Commission presented its Opinions on the application for EU membership submitted by Ukraine, Georgia and the Republic of Moldova as invited by the Council. Today's Opinions are based on the Commission's assessment in light of the three sets of criteria to join the EU agreed by the European Council: political criteria, economic criteria and the ability of the country to assume the obligations of EU membership (EU acquis). The Opinions also take into account Ukraine, Moldova...

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20 Jun
Member News

IPTI | Update on U.S. & EU Property Tax Issues: June 2022

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 Texas: Property value protests set new record Property owners left dazed and confused after getting their Notices of Appraised Values in the mail this year reacted predictably. They...

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17 Jun
Brexit News, Member News

Vulcan Insight | EU launches retaliatory action as UK publishes NI Protocol Bill

As expected, on Monday evening the UK Government published its Northern Ireland Protocol Bill aimed at allowing UK Ministers to circumvent a broad swath of the Brexit Agreement’s Northern Ireland Protocol.  The Bill proposes to the introduction of so-called “green” and “red” lanes for British goods destined for Northern Ireland and the Republic of Ireland respectively. Under the proposal, only goods going through the red lane would have to undergo customs checks and paperwork upon entering Northern Irish ports. A new dual regulatory system...

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17 Jun
Member News

EIB | A green transition

With a focus on climate, the just transition is an opportunity to create clean, green jobs and halt global warming Just transition is a commonly used concept in today’s climate discussions. But what does it mean? And can it be accomplished? There is no single definition of just transition. Broadly speaking, it encompasses the wide range of activities we must carry out to make sure workers and societies can prosper in the transition to a net-zero carbon economy. In this shift,...

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17 Jun
Chapter News

IMF | How Crypto and CBDCs Can Use Less Energy Than Existing Payment Systems

Environmentally conscious design can make a major difference in the energy efficiency of digital currencies. Most of the world’s central banks have already agreed they should help fight climate change, a critical challenge that necessitates reductions in both energy consumption, which is our focus here, and the carbon emissions associated with the energy consumed. To meet these aims, it’s important to pay attention to the energy used by the payment systems that central banks regulate and oversee. Monetary authorities now have...

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16 Jun
Chapter News

ECB Speech | Bringing European payments to the next stage: a public-private endeavour

Keynote speech by Fabio Panetta, Member of the Executive Board of the ECB, at the European Payments Council’s 20th anniversary conference | Frankfurt am Main, 16 June 2022 | Let me warmly congratulate you on the 20-year anniversary of the European Payments Council (EPC). Your organisation has been key to the transformation of Europe’s payment system into one of the most efficient in the world, seizing the opportunities offered by the Single Market and the introduction of the euro. Estimates...

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16 Jun
Member News

GDLSK | Forced Labor Rebuttable Presumption takes effect on June 21, 2022 – are you ready?

Under the Uyghur Forced Labor Prevention Act (“UFLPA”), effective June 21, 2022, a rebuttable presumption of “forced labor” will apply to goods that are produced, wholly or in part in the Xinjiang Uyghur Autonomous Region (“XUAR”) of China or by an entity identified as being associated with XUAR labor. GDLSK’s summary of the UFLPA can be accessed here. Also by June 21st, a multi-agency Forced Labor Enforcement Task Force is to develop an enforcement strategy and provide guidance to importers...

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16 Jun
Member News

Mason Hayes & Curran | Fintech and Intellectual Property Protection

Fintech continues to expand in Ireland and internationally. As fintechs rely heavily on technologies such as AI and blockchain, a number of specific IP issues arise, as well as more general IP issues. The Central Bank of Ireland, in its Innovation Hub 2021 Update noted a number of key trends in innovation. These include the continued growth of institutional interest in digital assets as well as a shift to e-money and a focus on instant payments. Clearly the growth of fintechs...

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