12 May
Member News

Vulcan Insight | EU Carbon Price Reaches Record as EU Commission Prepares “Fit for 55” Package

As the European Commission prepares to adopt its landmark “Fit for 55” climate and energy package in July, carbon permits under the EU’s Emissions Trading System have, this week, reached the highest level since their introduction in 2005.  Since 2005, the Emissions Trading System (ETS) has been the cornerstone of the EU’s fight against climate change inducing greenhouse gas emissions. According to the European Commission, the ETS is the “world’s first major carbon market and remains the biggest one” to...

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12 May
Member News

ACG Resources | 3 Ways to Incentivize Employees (Other Than Compensation)

When it comes to motivating employees, cash seems to be king. However, while you certainly aren’t going to hear your employees complain about a monetary reward, the fact of the matter is that money alone is not a huge motivator. Studies have shown time and time again that, when it comes to incentivizing employees, it takes more than money to be truly successful. Whether you are incentivizing employees to meet a specific goal, or just trying to motivate and...

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11 May
Member News, New York Related News

EACCNY ‘Moving to the U.S.’ Series | NY Housing & Medical Considerations

With the help of our members, we are creating a Thought-Leadership series on important factors to take into consideration when 'Moving to the United States'. Today, we present Dee Coffey, Licensed Real Estate Salesperson at COMPASS, along with E. Steven Lenger M.D., Founder & Owner of MPC CONSULTANTS, who will address housing and medical related issues when moving to New York. Moving to NY can feel overwhelming and daunting with so many factors to take into consideration. In particular, concern for people...

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11 May
Chapter News

ECB | A global accord for sustainable finance

Blog post by Fabio Panetta, Member of the Executive Board of the ECB | The COVID-19 pandemic has caused the largest decrease in global economic activity on record. But the drop in carbon dioxide emissions has been only temporary. Although global CO2 emissions fell by 6.4% overall in 2020, they had already begun to increase in the second half of the year and have now returned to pre-crisis levels. The fact that last year’s extraordinary circumstances still did not bring global emissions into...

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11 May
Chapter News

ECB | Private sector working group on euro risk-free rates publishes recommendations on EURIBOR fallbacks

Working group recommendations should help EURIBOR users comply with EU Benchmarks Regulation fallback obligations Key milestone reached with publication of recommendations as working group enters new phase and secretariat passes from ECB to ESMA The private sector working group on euro risk-free rates has today published its recommendations addressing events that would trigger fallbacks in EURIBOR-related contracts, as well as €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered). While there is currently no plan...

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11 May
Chapter News

ECB updates treatment of leverage ratio in the Eurosystem monetary policy counterparty framework

Amendments to give effect to the leverage ratio becoming a binding Pillar 1 own-funds requirement under the Capital Requirements Regulation (CRR) Change will apply as of 28 June 2021 On May 7, the European Central Bank (ECB) has today published amendments to its monetary policy implementation Guideline to give effect to the leverage ratio becoming a binding Pillar 1 own-funds requirement. The amended guideline implements a decision taken by the Governing Council on 6 May 2021. The decision is linked...

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11 May
Member News

Portolano Cavallo | European Delegation Law to Implement the Medical Devices Regulations

On April 23, Law No. 53 of April 22, 2021, “Delegation to the Government for the transposition of European directives and the implementation of other European Union acts,” was published in the Official Gazette (“Delegation Law”). Article 15 of the Delegation Law provides principles and criteria for the government to use in adapting the national regulatory framework to the provisions of the Medical Devices Regulations (EU Regulations 2017/745 and 2017/746) by issuing one or more legislative decrees within the next 12 months. According to...

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11 May
Member News

Troutman Pepper | More Privacy, Please: May 2021

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 REGULATION Federal FTC Publishes AI Best Practices. Building upon its April 2020 guidance on Using Artificial...

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11 May
Member News

Noerr | European Commission proposes world’s first ever regulatory framework on artificial intelligence (AI)

“Europe should become the global centre for trustworthy artificial intelligence (AI).” This is the ambitious target set by the European Commission (the “Commission”) when presenting its proposal for an Artificial Intelligence Act on 21 April 2021, in which it intends to regulate the use of AI, not the technology itself. The proposed AI Regulation is primarily a prohibition law which prohibits the use of AI systems in certain application scenarios or makes it subject to technical and organisational requirements. The proposal...

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10 May
Chapter News, Trade & TTIP Related

USTR Releases Agency Transparency Principles

7 May, 2021, WASHINGTON | Ambassador Katherine Tai today released a set of transparency principles that establish the foundation for a high transparency standard for the day-to-day operations of the Office of the United States Trade Representative (USTR).  These Transparency Principles reflect the Administration’s commitment to comprehensive public engagement, including outreach to historically overlooked and underrepresented communities, as it develops and implements a trade policy that advances the interests of all Americans.  USTR will continue to build on these Transparency...

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