26 Jan
Member News

Grassi & Co. | Has Your Nonprofit Outgrown its General Ledger?

In the last decade alone, the accounting industry has seen general ledgers evolve drastically from paper and Excel-based programs to more sophisticated platforms. But even with the widespread availability and cost-effective features of these new tools, many nonprofits are still relying on general ledgers that are local to the organization's devices or housed in onsite servers that require VPN login when working remotely. The COVID-19 pandemic was a stark reminder of the limitations these systems impose on a finance department's...

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26 Jan
Chapter News

EU Commission study finds positive impact of trade agreements on agri-food sectors

The EU trade agenda is set to have an overall positive impact on the EU economy and the agri-food sector, according to a new study published today. Trade agreements are due to result in substantial increases in EU agri-food exports, with more limited increases in imports, creating a positive trade balance overall. The study also confirms that the EU's approach to grant a limited amount of lower duty imports (through tariff rate quotas) is the best approach in terms...

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26 Jan
Chapter News

State aid: EU Commission approves €2.9 billion public support by twelve Member States for a second pan-European research and innovation project along the entire battery value chain

The Commission has approved, under EU State aid rules, a second Important Project of Common European Interest (“IPCEI”) to support research and innovation in the battery value chain. The project, called “European Battery Innovation” was jointly prepared and notified by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden. The twelve Member States will provide up to €2.9 billion in funding in the coming years. The public funding is expected to unlock an additional €9 billion in private...

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26 Jan
Chapter News

ECB sets up climate change centre

New unit, operational as of early 2021, to strengthen and bring together ECB work on climate Decision reflects growing importance of climate change for the economy and the ECB’s policy Climate change centre will shape and steer climate agenda The European Central Bank (ECB) has decided to set up a climate change centre to bring together the work on climate issues in different parts of the bank. This decision reflects the growing importance of climate change for the economy and the...

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26 Jan
Chapter News

Speech by Christine Lagarde | Climate change and central banking

Keynote speech by Christine Lagarde, President of the ECB, at the ILF conference on Green Banking and Green Central Banking | Frankfurt am Main, 25 January 2021 In the famous fable “Belling the Cat”, a group of mice gather to discuss how to deal with a cat that is eating them one by one. They hatch a plan to put a bell on the cat so they can hear it coming and escape before being caught. When it comes to who will...

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25 Jan
Member News

Orrick | The Anti-Money Laundering Act of 2020

On January 1, 2021, Congress enacted the Anti-Money Laundering Act of 2020 (the “AML Act”), which contains the most significant reforms to U.S. AML laws since the USA PATRIOT Act of 2001. Below are some key provisions of the AML Act, and here is a more detailed description of the statute’s major provisions. Key Provisions Beneficial Ownership Registry. Creates a new, long-awaited central registry for beneficial ownership information of shell companies and other smaller, less regulated entities, which will be available to financial...

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25 Jan
Chapter News

Speech | Sustainable finance: transforming finance to finance the transformation

Keynote SPEECH by Fabio Panetta, Member of the Executive Board of the ECB, at the 50th anniversary of the Associazione Italiana per l’Analisi Finanziaria (by videoconference) | Introduction I would like to start by thanking the Italian Association for Financial Analysts (Associazione Italiana per l'Analisi Finanziaria, AIAF) for inviting me to speak on the occasion of its 50th anniversary. Promoting high standards in financial analysis is vitally important for guaranteeing the development and the integrity of markets, to ensure they can serve the...

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25 Jan
Chapter News

New US president: how EU-US relations could improve

A new US president taking office represents an opportunity to reset transatlantic relations. Find out what the EU is offering to work together on. On 20 January, the day of Biden's inauguration, MEPs debated the political situation in the US. They also welcomed the new president as an opportunity for Europe to strengthen EU-US ties and tackle common challenges and threats to the democratic system. Europe and America have traditionally always been allies, but under Donald Trump the US has been...

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25 Jan
Chapter News, COVID-19 News

Coronavirus: EU Commission proposes additional safeguards on travel from outside the EU and updated criteria for applying travel restrictions

Today the Commission is proposing additional safeguards and requirements for international travellers into the EU. New coronavirus variants and the volatile health situation worldwide call for further action to ensure that any travel to the EU takes place safely. To reflect the latest scientific advice, the Commission is also proposing updated criteria taking into account the testing rate, testing positivity and detection of variants of concern when deciding on the application of restrictions on non-essential travel to the EU to a specific non-EU country.   Additional safeguards on travel from outside the EU  Member States should introduce additional measures to ensure that travel into the EU takes place safely. This concerns those travelling...

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25 Jan
Brexit News, Member News

Houthoff | Trade and competition after the Brexit deal: the consequences for the level playing field for businesses

The EU-UK Trade and Cooperation Agreement ("TCA") introduces a new framework for State aid, antitrust, merger control and trade in goods and services. Although the TCA's purpose is to ensure a level playing field for fair trade and competition, the new rules clearly distinguish the EU internal market from the UK market. These new rules are likely to give rise to many questions of interpretation and disputes. The TCA has a separate dispute settlement mechanism. The role of the European Court...

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