28 Jun
Brexit News, Member News

EACCNY “Brexit, What’s Next?” Series | The UK and the Lugano Convention in the post-Brexit world

With the help of our members, this thought-leadership series focuses on explaining what businesses should expect from the new reality of Brexit – in essence, with “Brexit, What’s Next?”. Today, we present Colin Monaghan, Partner, and Louise Mitchell, Knowledge Lawyer, at MASON HAYES & CURRAN and based in Dublin, Ireland; along with Tunde Oyewole, Of Counsel, and Sarah Lajugie, Associate at ORRICK and based in Paris, France. They will address: “The UK and the Lugano Convention in the post-Brexit...

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28 Jun
Member News, New York Related News

Troutman Pepper | New York City Enacts Biometrics Law for Food and Drink Establishments, Entertainment Venues, and Retail Stores

New York City’s Biometric Identifier Information Law goes into effect July 9. The law applies to food and drink establishments, places of entertainment, and retail stores in New York City that collect, retain, convert, store, or share biometric identifier information (e.g., retina or iris scans, fingerprints, voiceprints, and hand scans) from customers. According to the law, affected businesses must post clear, conspicuous notices near all customer entrances to their facilities. The law gives aggrieved customers a private right of action, subject...

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28 Jun
Member News

Loyens & Loeff | Cross-border workers: COVID-19 agreements extended until 30 September 2021

Belgium has concluded so-called COVID-19 agreements with Germany, France, Luxembourg and the Netherlands on the tax impact of international travel restrictions and health instructions (“work at home”) for cross-border workers and their employers. These agreements have now been extended until (and included) 30 September 2021. COVID-19 Agreement with Germany The Belgian and German authorities concluded a COVID-19 Agreement on 6 May 2020. The initial period of application of this agreement ran from 11 March to 31 May 2020 and was already extended...

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28 Jun
Chapter News

VAT: New e-commerce rules in the EU will simplify life for traders and introduce more transparency for consumers

New Value-Added Tax (VAT) rules for online shopping enter into force later this week* as part of efforts to ensure a more level playing field for all businesses, to simplify cross-border e-commerce and to introduce greater transparency for EU shoppers when it comes to pricing and consumer choice. The EU's VAT system was last updated in 1993 and has not kept pace with the rise in cross-border e-commerce that has transformed the retail sector in recent years. The Coronavirus pandemic has...

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28 Jun
Brexit News, Chapter News

Data protection: EU Commission adopts adequacy decisions for the UK

The EU Commission has today adopted two adequacy decisions for the United Kingdom - one under the General Data Protection Regulation (GDPR) and the other for the Law Enforcement Directive. Personal data can now flow freely from the European Union to the United Kingdom where it benefits from an essentially equivalent level of protection to that guaranteed under EU law. The adequacy decisions also facilitate the correct implementation of the EU-UK Trade and Cooperation Agreement, which foresees the exchange of personal information,...

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25 Jun
Chapter News

US Federal Reserve Board releases results of annual bank stress tests

The results show that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession. The Federal Reserve Board on Thursday released the results of its annual bank stress tests, which showed that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession. "Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all...

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25 Jun
Chapter News

Making digital transition work for all SMEs

The webinar looked at the state of digital transformation in European regions, taking stock of the latest research showing an increasing digital divide across European regions and urban-rural communities. Invited speakers shared their views on how public authorities at all levels can facilitate the digital transition of small and medium enterprises (SMEs), showcasing some best practices and collaboration initiatives from the European Entrepreneurial Regions. In the opening session, Mr Ivan Štefanec, Member of the European Parliament and President of SME Europe, identified three...

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25 Jun
Member News

Offit Kurman | Biometric Data Privacy and Why Employers Need to Know About It

What is Biometric Data? Every time you unlock your smartphone with facial recognition or your tablet with your fingerprint, you are using biometrics. Biometrics are a way to measure a person’s physical characteristics to verify their identity. It includes physical traits such as fingerprints, facial recognition, voice prints, and retina and hand scans. How Does Biometric Data Relate to My Workforce? Employers use biometric data to control access to worksites, track employees’ hours, monitor when employees pass through checkpoints, or record when...

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25 Jun
Brexit News, Member News

Arendt | Brexit: less than 10 days to request a new residency permit

Tick Tock! Reminder to British citizens* living in Luxembourg: Less than 10 days remaining to request a new residency permit before 30 June 2021 On 1 February 2020, the United Kingdom’s withdrawal from the European Union came into effect, entailing that UK citizens cease to be considered as EU nationals. British citizens and their family members residing in Luxembourg before the 31 December 2020 retained their rights to continue to reside and work in Luxembourg from 1 January 2021 onwards,...

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25 Jun
Member News

Trepp | How Could Sustainable Finance Disclosure Regulation Impact European CLOs?

As the presence of environmental, social, and governance (ESG) criteria in European corporate CLOs has increased, it is also no surprise that the Sustainable Financial Disclosure Regulation (SFDR) imposed ESG disclosure obligations in March of this year. What is the Regulation? The SFDR imposed mandatory ESG disclosure obligations for asset managers and other financial market participants with the substantive provision of the regulation in effect from 10th March 2021. The first level of the regulation took effect in March of this year,...

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