20 May
Member News

Brexit – Selected Legal Aspects

Dr Vincent Power, Head of A&L Goodbody’s EU & Competition Group, looks at the potential legal implications arising from Brexit.  This article was first published in the Commercial Law Practitioner, May 2016. The possible withdrawal of the United Kingdom from the European Union—so-called “Brexit”—would raise novel and profound legal issues. Those issues are novel because no Member State has ever left what is now called the EU in its 60-year history. The issues are profound because the EU is—and all...

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20 May
Chapter News

Investment Plan for Europe: More than 100 billion euro of investments less than one year into Fund

Less than one year into its existence, the European Fund for Strategic Investments is supporting 64 projects and triggers more than 100 billion euro of investment across the European Union. The European Commission's partner in the Investment Plan, the European Investment Bank, approved yesterday eight more projects for a financing volume of 9.3 billion euro. This takes the total of approved investment projects to 64 and already achieves almost a third of the targeted 315 billion euro investments over three...

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19 May
Chapter News, Trade & TTIP Related

Cecilia Malmström Blog Post: Trade Council and draft report on TTIP

Today, I'm meeting my counterparts from all EU governments in the Foreign Affairs Council on Trade. We meet regularly to discuss EU trade policy and the way forward on a long row of issues. The agenda today was long, as there are a lot of things happening. We had a very good discussion on how to move forward on WTO, building on the momentum created after the ministerial conference in Nairobi. There is a new optimism about the multilateral trade...

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19 May
Member News

IIE Generation Study Abroad Scholarships Help Diversify Students who Pursue Study Abroad

IIE announces more than 100 study abroad scholarships for college and high school students. The Institute of International Education (IIE) today announced scholarships to be awarded to more than 100 underrepresented students to pursue study abroad. Cost continues to be a major barrier; 90% of American college students do not study, intern or volunteer abroad, and minority students and students majoring in STEM are underrepresented among the few who do study abroad. With this round of awards, IIE will have...

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18 May
Member News

Defend Trade Secrets Act Creates Federal Question Jurisdiction for Victims of Trade Secret Theft

Last week, President Barack Obama signed the Defend Trade Secrets Act of 2016 (DTSA) into law.  The bill received overwhelming bipartisan support in Congress, passing in the House of Representatives by a vote of 410-2 and in the Senate by a vote of 87-0.  In a nutshell, The DTSA creates a federal private right of action for trade secret misappropriation under the federal Economic Espionage Act of 1996 (EEA), which provides for the federal criminal prosecution of trade secret...

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18 May
Member News

U.S. Supreme Court Holds Not Every Violation of a Federal Statute is a Ticket to File a Federal Court Lawsuit

On May 16, 2016, the U.S. Supreme Court issued its long-awaited opinion in Spokeo, Inc. v. Robins, a case raising the procedural question whether any and all violations of a federal statute are sufficient for a plaintiff to file a lawsuit in federal court (i.e., satisfy the “injury-in-fact” requirement for standing under Article III of the U.S. Constitution).  Reversing the Ninth Circuit’s ruling for the plaintiff, the majority declared that, although Congress has a vital “role in identifying and...

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18 May
Member News

New OT Regs About to be Published: Employers to Face a Dramatic Increase in Minimum Salary Requirement for Major Exemptions

The new minimum salary level for the executive, administrative, and professional employee exemptions under the Fair Labor Standards Act (FLSA) will be $913 per week, or $47,476 per year, under final regulations that will be released on Wednesday, May 18, 2016, by the U.S. Department of Labor (DOL). This new salary threshold—which will become effective on December 1, 2016—more than doubles the current minimum salary level of $455 per week, or $23,660 per year, and will have a dramatic...

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18 May
Member News

Orrick Ranked Among Top Ten Bankruptcy Law Firms

The Deal has once again recognized Orrick as a Top Ten Bankruptcy Law Firm in its Q1 2016 Bankruptcy League Tables. After being named to the top ten in each quarter last year, Orrick extended the streak by gaining one spot in the rankings (now #7). During a busy Q1 period, Orrick advised several clients on a diverse blend of bankruptcy matters, with a particular emphasis in the areas of distressed energy, municipal debt and cross-border restructurings. The Deal’s Bankruptcy League...

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18 May
Chapter News

EU-wide cybersecurity rules adopted by the Council

On 17 May 2016, the Council formally adopted new rules to step up the security of network and information systems across the EU. The network and information security (NIS) directive will increase cooperation between member states on the vital issue of cybersecurity. It lays down security obligations for operators of essential services (in critical sectors such as energy, transport, health and finance) and for digital service providers (online marketplaces, search engines and cloud services). Each EU country will also be...

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18 May
Chapter News

Manipulation of market benchmarks: Council adopts tougher rules

On 17 May 2016, the Council adopted new rules aimed at ensuring greater accuracy and integrity of benchmarks in financial instruments.  The regulation sets out to restore trust in indices used as financial benchmarks, following manipulation scandals in recent years. The aim is to enhance the robustness and reliability of benchmarks, thereby strengthening confidence in financial markets. Benchmark manipulation  Recent cases of manipulation of interest rate benchmarks such as Libor and Euribor have highlighted the importance of benchmarks and their vulnerabilities. The...

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