2021 is certainly a year of transition and change for many manufacturers. Stability and cash management have never been more critical. Kevin Mullin shares some insights from CFOs who have gotten it right in the last eighteen months. Liquidity Cash, as they say, is king. During COVID-19, many companies had to close temporarily, while others experienced a major slowdown in revenue-producing activities or a disruption in their supply chain. For many small to mid-market companies, that caused liquidity problems and financial stress. CFOs...

From 2021’s dramatic dip in global schedule reliability, to the spread of the COVID-19 delta variant, to shipping delays in Chicago, to CMA CGM’s Liverpool congestion surcharge, to the first all-electric air cargo network, it’s time to unpack the industry’s top news in the latest edition of The Weekly Roar. First, if you are looking for a positive supply chain story in a sea of bad news, check out this recent story from the Jaguar Blog: How Being Proactive Got NEST...

In Brief: As the threat of ransomware attacks on healthcare systems continues to rise, some traditional defensive measures are becoming obsolete. To better prepare, and to mitigate issues following an attack, firms must take a holistic approach to fortifying their cybersecurity posture. Ransomware attacks are plaguing the healthcare industry. Here are actions organizations should take now before they find their systems victimized. The ransomware attacks that grab headlines typically tend to involve big payouts or major system disruptions. In late April, for...

As record fires, floods and temperatures continue to hit countries across Europe, the recent adverse weather events highlight the urgent need for EU legislators to act on the European Commission’s recent “Fit for 55” climate and energy package.  Just as European Commission President Ursula von der Leyen, flanked by her climate czar, Frans Timmermans and other Commissioners, large swaths of Western Germany, Belgium and the Netherlands experienced the most devastating floods in recent memory killing dozens. Two weeks later, as...

On 9 July 2021, the Commission published its draft revised Vertical Block Exemption Regulation (VBER) and the accompanying Vertical Guidelines. One of the key points of the revision was to make the VBER fit for the digital age and adapt the rules to the strong growth of e-commerce. The revised VBER is tough on agreements that can hamper online competition. Suppliers are not allowed to de facto restrict online sales or advertising. Price parity clauses will also partially lose their current ‘unproblematic’ status. The...

In the released draft of the Infrastructure Bipartisan Proposal on Monday, August 2, 2021, a last-minute digital asset tax reporting regime was added.1 This provision in the draft legislation, under Division H – Revenue Provisions, Title VI, Section 80603, may very well change in text over the next week and possibly sustain further changes as the legislation evolves, if it even passes. From the tax perspective, digital assets really have two dimensions: (1) reporting – meaning who must disclose what to...

Do you want a simple way to keep current on important privacy changes? Avoid sleepless nights wondering whether you missed a privacy speed bump or pothole between annual updates? Worry no longer. Troutman Pepper is pleased to offer More Privacy Please, a monthly newsletter recapping significant industry and legal developments, as well as trends in the areas of cybersecurity, information governance, and privacy. U.S. LAWS AND REGULATION Connecticut Passes Stronger Data Breach Notification and Cybersecurity. The Connecticut legislature recently enacted a...

As of 16 July 2021, market surveillance by authorities for non-food products will be fully harmonised in Europe. The new European Market Surveillance Regulation (EU) 2019/1020 (“MSR”) comprehensively regulates the procedure of Member State authorities for enforcing harmonised European product legislation for almost all non-food products in Europe. With the modern legislative instrument of the European regulation and broad scope covering more than 70 product-related harmonisation acts, the European legislator has eliminated previously existing national discretion in the structuring of market...