On 22 April 2022, the Luxembourg financial regulator (the "CSSF") released Circular 22/806 on outsourcing arrangements (the "Circular"). By means of the Circular, the CSSF adopts and integrates the revised EBA Guidelines on outsourcing arrangements (EBA/GL/2019) (the "EBA Guidelines") and, as far as fund management is concerned, the ESMA Guidelines on outsourcing to cloud service providers (the "ESMA Guidelines"). In addition to incorporating the EBA and ESMA Guidelines into the Luxembourg regulatory framework, the CSSF complements the EBA Guidelines...

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Top-of-mind for every textile manufacturer? Speed to market. And the industry shows no signs of slowing down, as major garment producers continue to tighten production cycles by weeks, if not months. When it comes to color, there’s simply no room—or time—for error. Enter Datacolor Match Textile, a sophisticated software solution that formulates color to precise specifications, optimizing color results, streamlining production time, cutting expenses and minimizing environmental impacts. To formulate a color, Match Textile accounts for all the variables that...

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The Biden administration recently released its fiscal budget for 2023, which an accompanying fact sheet claims will help lower costs for American families, expand the productive capacity of the American economy and further reduce the deficit. To raise the revenue required to accomplish these goals, the budget proposes to modify existing business and international tax laws, close certain tax loopholes and impose higher taxes on high-net-worth individuals. Following is a broad overview of the provisions contained in the 2023...

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As of August 1, 2022, it will be more difficult for employers in the Netherlands to prohibit employees from working for other employers. Employers will then be able to prohibit such work only if they have objective reasons that justify such a prohibition. This change does not mean that existing clauses regulating work for third parties will automatically become null and void, even if they state that the employee requires the prior written consent of the employer to carry out...

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In a critical step towards mandating a common charger across the EU, Members of the European Parliament’s internal market and consumer protection committee (IMCO) agreed on their position for a single charger for mobile phones and other small electronic devices, such as tablets, e-book readers, smart cameras and wearable electronics at their meeting on Wednesday. The Parliament’s internal position largely backs the September 2021 proposal put forward by the European Commission and must now be negotiated with the EU Member...

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