European Union

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
News & Analysis as of

FIFA to ban third-party ownership of players.

Following a meeting of the FIFA Executive Committee on 26 September 2014, FIFA President Sepp Blatter has confirmed that the controversial practice of third-party ownership of players will be banned in future....more

EC publishes Standardisation Guidelines for cloud sector

In November 2012, the European Commission published a Communication on Cloud Computing intended to ‘unleash the potential of cloud computing in Europe.’ Twenty months later, the Commission has begun to deliver on its key...more

Basel III Framework: Liquidity Coverage Ratio (US Implementation)

The three US bank regulatory agencies issued a final regulation implementing the Basel III Liquidity Coverage Ratio (LCR) which requires banking organizations to maintain a minimum amount of liquid assets in order to meet...more

Achieving Justice And Human Rights In An Era Of Climate Disruption – New IBA Report

On 22 September 2014, the International Bar’s Association task force on Climate Change Justice and Human Rights released its new report Achieving Justice and Human Rights in an Era of Climate Disruption in the wake of the UN...more

Belgium: Gaming Commission calls for blacklisting of free gambling apps

In today’s Belgian national media, the Belgian Gaming Commission has pleaded to restrict the offering of free gambling applications (“apps”) which allow persons to gamble for free on their mobile device. The Commission for...more

Supreme Court Considers Whether A Bribe Or Secret Commission Received By An Agent Is The Property Of The Principal

In HR European Ventures LLP & ors v Cedar Capital Partners LLC [2014] UKSC 45, 16 July 2014, the Supreme Court held that bribes and secret commissions, received by an agent, should be treated as the property of the principal...more

Orrick's Financial Industry Week in Review

ESAs' Joint Committee Publishes Report on Risks and Vulnerabilities in the EU Financial System - On September 22, the Joint Committee of the European Supervisory Authorities (ESAs) published its bi-annual report on the...more

U.S. Treasury Department Takes Action to Slow (But Not Stop) Corporate Inversions: A Summary for Executives

What is an inversion? An inversion is a transaction that results in an existing U.S. company becoming a foreign company or becoming a subsidiary of a foreign parent. Historically, inversions involved U.S. companies...more

EU court validates Danish online gaming regime

The EU General Court upheld the Danish gambling regime providing for a different tax treatment between online gaming and land based gaming putting an end to a long legal battle that had side effects also in other...more

Decree “Sblocca Italia”: News On The Matter Of Lease

Following its publication in the Official Gazette on September 13, 2014, the Law Decree September 12, 2014 no. 133 “Urgent actions for the opening of construction sites, the realization of public infrastructures, the digital...more

United States to Develop National Action Plan on Responsible Business Conduct

On September 24, at a meeting of the Open Government Partnership at the United Nations, President Obama announced that the U.S. Government would develop a national action plan to promote responsible business conduct. The...more

Netherlands: Games of Chance Authority prepares a directive on promotional games of chance

Recently, the Dutch Games of Chance Authority (“KSA”) approached several parties to provide input for the identification of existing uncertainties in the Code of Conduct for Promotional Games of Chance (“Code”). In reply to...more

Procurement Pulse - September 2014

For some time now, Procurement Pulse has been tracking the development of the 2014 EU procurement directives. They came into force on 17 April 2014, and EU member states have until 17 April 2016 to implement them into...more

How EU data protection laws impact cross-border FCPA investigations

EU data protection laws apply to "personal data" in the broadest sense. For instance, a business email sent by an employee from the office constitutes "personal data" as long as the email directly or indirectly identifies an...more

VAT Alert: Cross-Border Supplies Of Services Made To VAT Grouped Branches: Skandia America Corp. (USA), filial Sverige (C-7/13)

For VAT purposes, a supply of services from the headquarters of a company to its branch is generally not subject to VAT. This is well-established, and was confirmed in the Court of Justice of the European Union (the "Court of...more

Italian online gaming licenses – Updated FAQs!

Online gaming has considerably changed during the last 3 years and therefore I decided to publish an updated version of the FAQs on the regime applicable to Italian online gaming licenses. ...more

VAT Alert: K Oy (C-219/13)

Under EU VAT law, EU Member States may, at their discretion, apply a reduced rate of VAT to books produced on "…all physical means of support". The term "all physical means of support" has generally been interpreted to...more

Council of EU Presidency Compromise Proposal on Benchmark Regulation

On September 10, the Presidency of the Council of the EU published its first compromise proposal (dated September 9, 2014) relating to the European Commission’s proposed Regulation on indices used as benchmarks in financial...more

BCBS Report on Basel III Monitoring Exercise

On September 11, the BCBS issued a report and an accompanying press release, which summarized the aggregate results of the latest Basel III monitoring exercise, using data as of December 31, 2013. The report covers analysis...more

Toward the enforceability of the “right to be forgotten” in Europe

The European Court of Justice, in a decision rendered on May 13, 2014, held that search engines are considered data controllers under the Directive of October 24, 1995 on data protection, and as such they must provide data...more

Skandia: Intra-Company Supplies Treated as Taxable Transactions for VAT Purposes by the Court of Justice of the European Union

On 17 September 2104, the Court of Justice of the European Union (the “CJEU”) gave its preliminary ruling in the case of Skandia America Corporation USA, Sweden Branch v Skatterverket (C-7/13) (“Skandia”). The decision of...more

Internet of Things reviewed by data protection regulators

The growth of the Internet of Things brought the attention of the European data protection regulators that through the European data protection advisory body, the Article 29 Working Party, issued an opinion on the Internet of...more

US, EU Regulators Voice Hopes for Deal on Clearinghouse Oversight

Top US and EU regulators have indicated in the last week a shared desire to agree on a framework for the trans-Atlantic supervision of clearinghouses. ...more

Inovia Releases 2014 Report on Global Patent Trends

Patent services provider inovia has released its fifth annual report on global patent and IP trends. In compiling "The 2014 U.S. Global Patent & IP Trends Indicator," inovia, which produces products for PCT national phase...more

Internet of Things: European privacy recommendations

Call it a coincidence or not: exactly one week after the Apple Watch was officially introduced by Apple CEO Tim Cook on 9 September 2014, the European data protection advisory body – Article 29 Data Protection Working Party...more

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