Initially published on Elvinger's website here | On 6 April 2022, the European Commission ("EC") adopted the EU Sustainable Finance Disclosure Regulation ("SFDR") Regulatory Technical Standards in the form of a delegated regulation ("RTS"). As previously announced, the EC decided to consolidate all 13 SFDR RTS into one single delegated act, which is expected to apply from 1 January 2023. The RTS should provide the asset management industry and EU regulators with much needed certainty when preparing for compliance. In the Explanatory Memorandum...

In this week’s Roar we’re covering several angles of the supply chain mess that is China, air cargo as the hero we didn’t know we needed, and the internet of things (IOT) technology as one long-term solution. As supply chain professionals, we are acutely aware of how the present lockdowns in China (which impact regions producing 40% of GDP) will have far-reaching implications on an already tenuous global economy. With the situation in Ukraine not helping matters, it’s discouraging that...

Arguably the most important data next week is the flash PMI. It is not available for all countries, but for those generally large G10 economies, the preliminary estimate is often sufficiently close to the final reading to steal its thunder. Moreover, and this applies to high-frequency data more broadly, given the overshoot of inflation in most counties, with some exceptions, notably in Asia, central banks appear to be on set courses.  The near-term data are interesting if you are into...

Law of 1 April 2022 amending Articles L. 414-3 and L. 414-9 of the Labour Code The law of 1 April 2022, which enshrines in law the staff delegation's involvement in remote work arrangements, was published on 12 April 2022 and will come into force on 16 April 2022. With the pandemic and since the advent of lockdown, teleworking has become established as a new type of working arrangement. To regulate this practice, which will remain even beyond the end of the...

EU proposes "first-ever" rules to protect IP for craft products On Wednesday, European Commissioners Margrethe Vestager and Thierry Breton, presented the EU’s first-ever framework to protect the intellectual property for craft and industrial products that rely on the originality and authenticity of traditional practices from their regions. The new legal framework would be an extension of the current and globally successful geographical indication system for beer, wine and spirit beverages and agricultural products such as cheese, salami and ham. According to the Commission, this new...

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together below a selection of articles from IPTI Xtracts; more articles can be found on its website (www.ipti.org). United States New York: Empty offices aren’t all coming back, but the space can still be a hub for innovation Throughout all its eras, New York City has thrived mainly...

The Consolidated Appropriations Act of 2022 (Omnibus Spending Bill), signed by President Biden on March 15, contains, among other initiatives, the Adjustable Interest Rate (LIBOR) Act. The LIBOR Act solves the legal uncertainty regarding how “Tough Legacy” contracts — contracts that reference the London Interbank Offered Rate (LIBOR) as a benchmark rate and that do not contain either a specified replacement rate or a replacement mechanism — should be treated after USD LIBOR ceases publication on June 30, 2023. Congress...

The GDPR's entry into force in May 2018 has not marked the end for new data protection and cybersecurity initiatives. On the contrary, new laws and regulations at national and EU level continue to be introduced. The European Commission has recently adopted its 'Strategy for Data', which aims to propose new legislation, the latest being the Data Act and Data Governance Act. The EU's focus seems to have gotten broader than just 'personal data' as it focuses on data in...