21 Jan
Member News

New CFIUS Rules – Eight Key Points

The Committee on Foreign Investment in the United States ("CFIUS") issued final regulations on January 13, 2020 to comprehensively implement the Foreign Investment Risk Review Modernization Act of 2018 ("FIRRMA") (the "Regulations"). The Regulations will become effective on February 13, 2020. CFIUS's existing regulations will continue to apply to transactions that close, or for which a definitive written agreement is signed, before February 13. CFIUS issued proposed rules to implement FIRRMA (the "Proposed Rules") in September 2019 (see our September 2019 alert),...

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21 Jan
Chapter News

Main Results of the Economic and Financial Affairs Council, 21 January 2020

Digital taxation Finance ministers had an exchange of views on tax challenges arising from digitalisation. They took stock of the progress achieved in the context of the OECD, both on the reallocation of profits of digitalized businesses ("Pillar 1") and on the general reform of international corporate taxation ("Pillar 2). The OECD has been working intensively in the past months with a view to agreeing on the architecture of a global solution at its meeting on 29-30 January 2020. The debate confirmed...

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17 Jan
Member News

Vulcan Insight: Analysis of the Latest EU Developments

General Election in Ireland kicks off Taoiseach Leo Varadkar ended weeks of speculation on Tuesday as went to the President to ask him to dissolve parliament, paving the way for a general election on Saturday, February 8. His Fine Gael-led minority government served in power for four years, with support from the main opposition party Fianna Fáil, through a ‘Confidence and Supply’ agreement. With the immediate risk of a ‘no deal Brexit’ averted through the passing of the Withdrawal Agreement,...

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17 Jan
Member News

What Technology Businesses and Investors Should Know About the New CFIUS Rules

On January 13, 2020, the U.S. Department of the Treasury issued final rules fully implementing the new powers granted to the Committee on Foreign Investment in the United States (CFIUS or the Committee). Congress provided these new powers via the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which significantly enhances the Committee's ability to conduct national security reviews of inbound investments. For the last 15 months, CFIUS has operated a temporary "pilot program," which implemented only a few...

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17 Jan
Chapter News

“Refreshing Transatlantic Trade Relations”: Keynote Address by Commissioner Phil Hogan at CSIS

Ladies and gentlemen, thank you for your warm welcome and happy new year! I am very pleased to be here with you this morning. This is the first of what I expect will be many visits to Washington as European Trade Commissioner. Of course as an Irishman I feel very much at home in America so this is certainly one of the perks of the job. I had a very busy day yesterday and Tuesday, meeting members of the Administration, senators...

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17 Jan
Chapter News

Plenary Highlights: European Green Deal, Future of Europe, Brexit

During the first plenary session of 2020, Parliament called for more ambitious measures to tackle climate change and to put citizens at the centre of an initiative to reform the EU. Parliament supported the European Commission's plan for the EU to become climate neutral by 2050 on Wednesday and called for a higher 2030 emissions reduction target of 55%. The previous day, they discussed a proposal on how to finance this green transition, including support for regions affected by it. Citizens have to be...

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15 Jan
Brexit News, Member News

The EU-UK Future Relationship: EU Announces Its Timetable For Cross-Border Equivalence In Financial Services

The U.K. House of Commons has approved the Withdrawal Agreement. Assuming this is ratified by the EU, and Royal Assent is achieved in time, the U.K. will leave the EU on January 31, 2020, entering into a “transition” or “implementation” period during which most of the EU’s arrangements and legal regime will continue to apply in the U.K. This period is planned to end on December 31, 2020, leaving just 11 months for the EU and U.K. to reach...

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15 Jan
Brexit News, Member News

Osborne Clarke Timelone for Brexit 2020

Timeline for Brexit 2020 7 January Withdrawal Agreement Bill returned to the House of Commons. 9 January Third reading of the WAB and end of Commons stages of the WAB. 13 January WAB passed to the House of Lords. Although some Lords may attempt to amend the WAB, the House itself will be mindful that the WAB was a Conservative manifesto commitment. By 29 January The WAB will be law. 29 January (expected) European Parliament consents to the Withdrawal Agreement. Some point between 29 to 31 January The UK and the...

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15 Jan
Member News

The Old-Fashioned Phone

By Joanna Dodd Massey, CEO, JDMA Inc I had a conversation at dinner with a colleague about the different ways younger and older generations communicate. Broadly speaking, Millennials prefer email, text, Instagram DM and Slack (or other instant-messaging business apps). Gen Z favors text, Slack and Snapchat. Gen X and Baby Boomers are still into email with Gen X gravitating to Slack and text. The Silent Generation, also known as the Traditionalists, like a good old-fashioned phone call or face-to-face...

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15 Jan
Chapter News

Parliament Supports European Green Deal and Pushes for Even Higher Ambitions

MEPs support the European Green Deal, but highlight challenges, including ensuring a just and inclusive transition and the need for high interim targets. Parliament adopted on Wednesday its position on the European Green Deal, unveiled by Commission President von der Leyen in a plenary debate in December. MEPs welcome the European Green Deal and support an ambitious sustainable investment plan to help close the investment gap. They also call for an adequately funded just transition mechanism. Speed up reduction of greenhouse-gas emissions Parliament...

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