11 Feb
Member News

Troutman Pepper | ‘More Privacy Please’ February Edition

Do you want a simple way to keep current on important privacy changes? Avoid sleepless nights wondering whether you missed a privacy speed bump or pothole between annual updates? Worry no longer. Troutman Pepper is pleased to offer More Privacy Please, a monthly newsletter recapping significant industry and legal developments, as well as trends in the areas of cybersecurity, information governance, and privacy. U.S. Laws and Regulations 2021 Washington Privacy Act Under Review in Senate Committee. Washington’s state legislature is again...

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11 Feb
Chapter News

Speech | The role of central banks in the greening of the economy

Paris, 11 February 2021 | Speech by François Villeroy de Galhau, Governor of the Banque de France | I would like to welcome you to the Banque de France for this 5th edition of the Rencontres on "Climate Change and Sustainable Finance", organised jointly with Option Finance. Central banks’ commitment to the climate cause may seem obvious today, and this despite the urgency of addressing the Covid pandemic.  But it was not the case five years ago, and few issues...

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11 Feb
Chapter News

Winter 2021 Economic Forecast: A challenging winter, but light at the end of the tunnel

Europe remains in the grip of the coronavirus pandemic. The resurgence in the number of cases, together with the appearance of new, more contagious strains of the coronavirus, have forced many Member States to reintroduce or tighten containment measures. At the same time, the start of vaccination programmes throughout the EU provides grounds for cautious optimism. Economic growth poised to recover as containment measures ease The Winter 2021 Economic Forecast projects that the euro area economy will grow by 3.8% in both 2021...

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11 Feb
Member News

The EU bank insolvency framework: could less be more?

by Giovanni Majnoni, Gabriele Bernardini, Andreas Dal Santo and Maurizio Trapanese | Andreas Dal Santo is Managing Director of Solidus Capital Group, a member of the EACCNY | This paper shows that the present European framework for bank crisis management in the Banking Union (BU) follows multiple criteria that, when applied in combination, can generate unintended consequences that undermine the effectiveness of the system, highlighting a case of fallacy of composition. The paper suggests that a piecemeal reform would not be...

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11 Feb
Chapter News

How e-Government Services Can Pay Dividends

The ability to renew your passport or driver’s license, pay a tax bill, or access government data with the click of a button or swipe of a screen, anytime and anywhere, has grown more important during the COVID-19 pandemic to prevent the spread of the virus. Beyond the obvious efficiency and transparency gains that digital government services provide, “e-government” can actually make an economy more attractive to foreign investors. Recent IMF staff research has linked―for the first time―the accessibility of government information and...

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11 Feb
Member News

Stibbe | ACM’s 2021 enforcement focus: digital, green and COVID-19

The ACM’s list of 2021 focus areas is out. Whereas the digital economy and the energy transition are repeats from last year, the effects of the COVID-19 crisis is a new, although somewhat unsurprising, designated focal point. In 2021, the ACM will launch a preliminary study into the effects of the COVID-19 pandemic on retail markets and set up best practices for closer collaborations in the healthcare sector. It will finalise its investigation into Apple’s app stores rules, and continue its investigation...

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10 Feb
Chapter News

EU Parliament gives go-ahead to €672.5 billion Recovery and Resilience Facility

Biggest building block of the Next Generation EU stimulus package €672.5 billion in grants and loans to curb the effects of the pandemic Funds will support key policy areas such as green transition, digital transformation, crisis preparedness as well as children and youth Respect for rule of law and the EU’s fundamental values a prerequisite to receive funding On Wednesday, Parliament approved the Recovery and Resilience Facility, designed to help EU countries tackle the effects of the COVID-19 pandemic. The...

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10 Feb
Chapter News

Federal Reserve Board announces the second extension of a rule to bolster the effectiveness of the Small Business Administration’s Paycheck Protection Program (PPP)

The Federal Reserve Board on Tuesday announced the second extension of a rule to bolster the effectiveness of the Small Business Administration's (SBA) Paycheck Protection Program (PPP). Like the earlier extensions, this one will temporarily modify the Board's rules so that certain bank directors and shareholders can apply to their banks for PPP loans for their small businesses. To prevent favoritism, the Board limits the types and quantity of loans that bank directors, shareholders, officers, and businesses owned by these...

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10 Feb
Chapter News

ECB | Speech: Evolution or revolution? The impact of a digital euro on the financial system

Speech by Fabio Panetta, Member of the Executive Board of the ECB, at a Bruegel online seminar | Throughout history, innovations in money have challenged and altered the structure of the financial system. Time and time again, innovations have given rise to debates about the risks they pose and the rewards they bring, as well as the role of central banks in building confidence in money. Paper banknotes are a case in point. As they were easy to carry, they made...

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10 Feb
Member News

Osborne Clarke | ESG: The view from Europe

Environmental, Social and Governance (ESG) factors are playing an increasingly important role in the evaluation of investments, suppliers and corporate performance across the globe, with a particular emphasis on the "E". This is a trend we expect to grow rapidly in the coming year. In the US, the new administration has already committed to sustainability, requiring action on emissions reductions and deep structural change from America's industrial and energy base. In Europe, the ESG ecosystem has been developing for a...

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