15 Oct
Member News

Portolano Cavallo | Schrems II: The future of international transfers

This article is part of Portolano’s quarterly “INFORM@ Corporate” Newsletter. Click here to subscribe. | 1. The Schrems II judgment in a nutshell On July 16, 2020 the Court of Justice of the European Union (“CJEU” or the “Court”) upheld a cornerstone judgment in the Data Protection Commissioner v. Facebook Ireland Limited, Maximilian Schrems case (Case C-311/18—or the “Schrems II judgment”), concerning data transfers under EU Regulation 679/2016 (“GDPR”) and in particular transfers from Europe to the United States. In the judgment, the Court struck...

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15 Oct
Chapter News

FSB | Market Fragmentation: updates on ongoing work

This report provides an update on work by the FSB, in collaboration with the international standard setting- bodies, to address market fragmentation. The report was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting in October. In June 2019, the FSB identified four areas for further work to address market fragmentation: This latest progress report provides an update on work in these areas: Deference. The International Organization of Securities Commissions published a Report on Good Practices on...

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15 Oct
Chapter News, COVID-19 News

Coronavirus: EU Commission lists key steps for effective vaccination strategies and vaccines deployment

As Europe learns to live with the pandemic, the development and swift global deployment of safe and effective vaccines against COVID-19 remains an essential element in the eventual solution to the public health crisis. In this context, the Commission is working to ensure that there will be access to safe vaccines across Europe, and encourages a coordinated approach of vaccination strategies for deployment of the vaccines. Today, ahead of the discussion of EU Leaders, the Commission is presenting the key...

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14 Oct
Member News

Osborne Clarke US 20th year anniversary in 2020

Partners Emily Jones and Steve Wilson provide a joint letter on Osborne Clarke's 20th anniversary in the US market | OCUS | 20 years’ young October 2000 seems a very long time ago…honestly, January 2020 seems a lifetime ago, but that’s a different story! Back in the late 90s, the "relics" at Osborne Clarke had been considering how best to support our US client base from afar without disrupting the relationships we had with so many amazing law firms in the...

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14 Oct
Member News

H&K | Food and Beverage Law Update: October 2020

COVID-19 Is There Insurance Coverage for Business Interruption Losses Related to COVID-19? Thomas H. Bentz Jr. More than six months into the pandemic, there is still no easy or definitive answer to the question many retailers are asking about whether there is coverage for their business interruption losses related to COVID-19. Insureds have filed more than 1,000 business interruption claims against insurance carriers to date. Federal suits are pending in at least 37 states. This is more than three times as many...

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14 Oct
COVID-19 News, Member News

CLA | Great News for PPP Loans $50,000 or Less

Key insights The SBA released a streamlined PPP loan forgiveness application form on October 8, 2020. The new form requires fewer calculations and less documentation. CLA can help you navigate the PPP loan forgiveness process. On October 8, 2020, the Small Business Administration (SBA) released a streamlined loan forgiveness application for Paycheck Protection Program (PPP) loans totaling $50,000 or less. This is great news for a large number of borrowers, as loans totaling $50,000 or less make up about two-thirds...

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14 Oct
Chapter News, COVID-19 News

IMF | Fiscal Policy for an Unprecedented Crisis

The COVID-19 crisis has devastated people’s lives, jobs, and businesses. Governments have taken forceful measures to cushion the blow, totaling a staggering $12 trillion globally. These lifelines have saved lives and livelihoods. But they are costly and, together with sharp falls in tax revenues owing to the recession, they have pushed global public debt to an all-time high of close to 100 percent of GDP. With many workers still unemployed, small businesses struggling, and 80‑90 million people likely to fall into...

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14 Oct
Chapter News

Green Deal: EU Commission adopts new Chemicals Strategy towards a toxic-free environment

Today, the European Commission adopted the EU Chemicals Strategy for Sustainability. The Strategy is the first step towards a zero pollution ambition for a toxic-free environment announced in the European Green Deal. The Strategy will boost innovation for safe and sustainable chemicals, and increase protection of human health and the environment against hazardous chemicals. This includes prohibiting the use of the most harmful chemicals in consumer products such as toys, childcare articles, cosmetics, detergents, food contact materials and textiles, unless proven...

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14 Oct
Chapter News

Renovation Wave: doubling the renovation rate to cut emissions, boost recovery and reduce energy poverty

The European Commission has published today its Renovation Wave Strategy to improve the energy performance of buildings. The Commission aims to at least double renovation rates in the next ten years and make sure renovations lead to higher energy and resource efficiency. This will enhance the quality of life for people living in and using the buildings, reduce Europe's greenhouse gas emissions, foster digitalisation and improve the reuse and recycling of materials. By 2030, 35 million buildings could be renovated and up to 160,000...

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13 Oct
Chapter News

Boeing subsidy case: World Trade Organization confirms EU right to retaliate against $4 billion of U.S. imports

Today, the World Trade Organization (WTO) allowed the EU to raise tariffs up to $4 billion worth of imports from the U.S. as a countermeasure for illegal subsidies to the American aircraft maker, Boeing. The decision builds upon the WTO’s earlier findings recognising the U.S. subsidies to Boeing as illegal under the WTO law. Executive Vice-President for an Economy that Works for People and Commissioner for Trade, Valdis Dombrovskis, said: “This long-awaited decision allows the European Union to impose tariffs on American...

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