12 May
Chapter News

Speech by President von der Leyen at the EP Plenary on the social and economic consequences for the EU of the Russian war in Ukraine – reinforcing the EU’s capacity to act

"Check against delivery" Madam President, dear Roberta, Honourable Members, Next week, we will mark Europe Day. The 72nd birthday of our Union. This Europe Day will be all about the Union of the future – how we make it stronger, more resilient, closer to its people. But the answer to all of these questions, we cannot give alone. The answer is also given in Ukraine. It is given in Kharkiv, where Ukrainian first responders venture into the combat zone to help those...

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11 May
Chapter News

Corporate taxation: EU Commission proposes tax incentive for equity to help companies grow, become stronger and more resilient

The European Commission has today proposed a debt-equity bias reduction allowance, or DEBRA, to help businesses access the financing they need and to become more resilient. This measure will support businesses by introducing an allowance that will grant to equity the same tax treatment as debt. The proposal stipulates that increases in a taxpayer's equity from one tax year to the next will be deductible from its taxable base, similarly to what happens to debt. This initiative is part of...

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11 May
Chapter News

Consumer protection: EU Commission adopts stronger consumer rules for online financial services

Today, the European Commission has adopted a reform of the current EU rules on Distance Marketing of Consumer Financial Services, which govern financial services sold at a distance. The Proposal will strengthen consumer rights and foster the cross-border provision of financial services in the single market. This market has significantly evolved in light of the overall digitalisation of the sector and the new types of financial services that have been developed since the rules were first introduced in 2002....

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11 May
Chapter News

Cybersecurity of 5G networks: EU publishes report on the security of Open RAN

Today, EU Member States, with the support of the European Commission and ENISA, the EU Agency for Cybersecurity, published a report on the cybersecurity of Open RAN. This new type of 5G network architecture will in the coming years provide an alternative way of deploying the radio access part of 5G networks based on open interfaces. This marks another major step in the coordinated work at EU level on the cybersecurity of 5G networks, demonstrating a strong determination to...

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11 May
Member News

Steptoe | UK Government Announces Extensive Post-Brexit Changes to Data Privacy Laws

On 10 May 2022, the United Kingdom (UK) Government announced its intention to introduce a reform bill that will implement extensive changes to the existing domestic data protection framework. In the Queen’s Speech, the Prince of Wales unveiled the UK's planned Data Reform Bill, which expects to create ''a more flexible, outcomes-focussed approach to data protection that helps create a culture of data protection, rather than 'tick-box exercises.''' If implemented, the proposed changes will see the UK deviate from...

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11 May
Member News

RSM | April 2022 – Your Global Summary of IFRS News and Developments

LATEST MATTERS FROM THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) The following is a summarised update of key matters arising from the discussions and decisions taken by the IASB at its meetings on the following dates: 25 January 2022 25 February 2022 24 March 2022 The full update, as published by the IASB, can be found here. Primary Financial Statements The IASB continued discussions on proposals in the exposure draft General Presentation and Disclosures published in 2019. This exposure draft seeks to improve...

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11 May
Member News, New York Related News

Thompson Hine | New York Enacts Employee Privacy Law

Most businesses understandably work to protect the privacy and security of consumers’ personal information. Of at least equal importance, however, is the privacy and security of their employees’ information. On May 7, New York’s new employee privacy law became effective and it requires employers to provide written notice to their employees prior to engaging in certain electronic monitoring activities. The state’s attorney general is responsible for enforcing the law (as it does not expressly provide a private right of action),...

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10 May
Member News

Hogan Lovells | ESG Perspectives A 360° view of key ESG issues and opportunities for corporates in 2022

What does ESG really mean for corporates in 2022? We have teamed up with leading ESG advisors at Cardano, Georgeson and Kekst CNC to draw together our insights in a guide that provides a 360° response to this question, and to help clients respond holistically to the ESG issues and opportunities they currently face. ESG Perspectives: A 360° view of key ESG issues and opportunities for corporates in 2022 Environmental, social, and governance (ESG) considerations are increasingly central to every aspect...

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10 May
Member News

EIB and European Commission sign an Agreement to enable further investments worldwide

Today, the European Commission and the European Investment Bank (EIB) signed an ambitious Guarantee Agreement through which the European Commission will support up to €26.7 billion of EIB financial operations to enable crucial public investments in sectors like clean energy, digital and transport infrastructure, health and education over the next seven years, rolling out Global Gateway worldwide. Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, said: “Today’s landmark guarantee agreement with the European Investment Bank will enable to finance the implementation of our...

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10 May
Chapter News

ECB | Euro money market statistics: Second maintenance period 2022

Daily average borrowing turnover in the unsecured segment decreased from €138 billion in the first maintenance period of 2022 to €137 billion in the second maintenance period of 2022 Weighted average overnight rate on borrowing transactions in the unsecured segment remained stable at -0.56% for the wholesale sector and decreased from -0.57% to -0.58% for the interbank sector Daily average borrowing turnover in the secured segment decreased from €429 billion to €404 billion, with a weighted average overnight...

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