07 Jul
Member News

Thompson Hine | Momentum: Diversity, Equity & Inclusion

Welcome to the 2021 report on our Spotlight on Women program and Diversity, Equity & Inclusion Initiative. This year’s theme is “Momentum,” a fitting choice given the progress we made during an extraordinarily difficult year. In these pages you’ll read about the concrete steps the firm has taken to promote diversity and advance equity and inclusion. We’re proud of Thompson Hine’s accomplishments and we invite you to celebrate with us as we reflect on our successes and plan for...

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07 Jul
Brexit News, Member News

Steptoe | The UK Competition and Markets Authority’s Vertical Agreement Proposals – Still Anchored to the EU?

The Current Regulatory Moorings Despite the UK’s final withdrawal from the EU, much of EU competition law continues to regulate commercial activity within the UK. This retained body of law includes the Vertical Agreement Block Exemption Regulation (EU 330/2010) (VABER), a "retained exemption" under UK Brexit-related legislation. VABER provides a ‘safe harbour’ (and its accompanying vertical restraints guidelines offer further shelter) from the prohibition of anti-competitive vertical or supply agreements under Article 101(1) of the Treaty on the Functioning of...

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07 Jul
Member News

Jaguar Freight | Investing in the Industry’s Future

In the latest issue of The Weekly Roar, HMM spends $1.57B on 12 new container ships, port congestion causes detention and demurrage fees to spike, Hapag-Lloyd makes the first digitally-controlled port arrival, JFK plans to develop a new airfreight handling facility, and the air cargo sector predicts a healthy peak season. After signing newbuild contracts with two different manufacturers in South Korea, HMM announced that it expects all 12 vessels — each capable of carrying 13,000 TEUs — to arrive...

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07 Jul
Chapter News

EU Commission puts forward new strategy to make the EU’s financial system more sustainable and proposes new European Green Bond Standard

The European Commission has today adopted a number of measures to increase its level of ambition on sustainable finance. First, the new Sustainable Finance Strategy sets out several initiatives to tackle climate change, and other environmental challenges, while increasing investment – and the inclusiveness of small and medium-sized enterprises (SMEs) – in the EU's transition towards a sustainable economy. The European Green Bond Standard proposal, also adopted today, will create a high-quality voluntary standard for bonds financing sustainable investment. Finally, the Commission adopted...

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07 Jul
Chapter News

OECD | 130 countries and jurisdictions join bold new framework for international tax reform

130 countries and jurisdictions have joined a new two-pillar plan to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate. 130 countries and jurisdictions, representing more than 90% of global GDP, joined the Statement establishing a new framework for international tax reform. A small group of the Inclusive Framework’s 139 members have not yet joined the Statement at this time.  The remaining elements of the framework, including the implementation plan, will be finalised in...

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07 Jul
Member News

RSM | Accounting for cloud based software

Cloud computing arrangements often packaged as ‘Software as a Service – SaaS’ are increasingly used by businesses due to their flexibility and scalability. A recent IFRIC agenda decision addressed the accounting for configuration or customisation costs from cloud computing arrangements. The article explains the implications of the agenda decision for IFRS preparers that have incurred significant implementation costs in relation to cloud-based application software. DOWNLOAD Compliments of RSM LLP - a member of the EACCNY.

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06 Jul
Member News

Loyens & Loeff | Further reliance on financial intermediaries to prevent tax abuse

Earlier this week, the Act of 2 June 2021 providing for various financial provisions relating to the combat against fraud has entered into force. This Act further enhances the combat against specific tax mechanisms by providing new criminal sanctions and by broadening reporting obligations of the FSMA and of the NBB. Context Earlier this week, on 28 June 2021, the Act of 2 June 2021 providing for various financial provisions relating to the combat against fraud has entered into force (the...

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06 Jul
Chapter News

ECB Speech | Escaping low inflation?

Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Petersberger Sommerdialog | Frankfurt am Main, 3 July 2021 | After having lived through the deepest contraction in post-war times, the euro area economy has embarked on a strong recovery from the pandemic. Confidence indicators are at their highest level in more than two decades, reflecting surging optimism among firms and consumers. According to the June 2021 Eurosystem staff projections, the euro area is expected to grow...

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06 Jul
Chapter News

Defence Industry: the EU Commission kick-starts the European Defence Fund with €1.2 billion and awards 26 new industrial cooperation projects for more than €158 million

The Commission adopted today a package of decisions supporting the competitiveness and innovation capacity of the EU defence industry. The adoption of the first European Defence Fund (EDF) annual work programme paves the way to the immediate launch of 23 calls for proposals for a total of €1.2 billion of EU funding in support of collaborative defence research and development projects. Furthermore, under the EDF's precursor programme, the European Defence Industry Development Programme (EDIDP), 26 new projects with a budget of more than €158 million were selected for funding....

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02 Jul
Member News

Vulcan Insight | EU proposes updates to product safety and consumer credit rules

This week, the European Commission presented its legislative proposals for the revisions of the General Product Safety Directive and of the Directive on consumer credits. According to the Commission, the updates will be vital in “enhancing consumer rights in a world reshaped by digitalisation and the COVID-19 pandemic.”  Since its inception in 2001, the General Product Safety Directive has become the EU’s key instrument of ensuring the safety of consumer products being placed on the internal market. Under the Directive, which complements other sector-specific legislation such as...

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