EU Parliament Ratifies Agreement to Relax Restrictions on Hazardous Chemical Exports
May 14, 2012 in International Environment Reporter
BRUSSELS—An EU law requiring exporters of certain hazardous substances to obtain advance permission from authorities in importing countries will be modified after the European Parliament ratified the revision May 10.
EU Expands Chemical Agency’s Role in Authorizing Biocidal Substances, Products
May 14, 2012 in International Environment Reporter
BRUSSELS—EU member states May 10 rubber-stamped a revision of EU legislation on the authorization of biocidal substances and products, such as insect repellents and rodent poisons.
EU Plans Overhaul of Rules on Subsidies to Boost Growth, Ensure Market Integrity
May 14, 2012 in WTO Reporter
BRUSSELS—The European Union’s regulatory framework for allowing government subsidies will be overhauled to promote economic growth and shift more decisionmaking to member states so the EU authority can concentrate on the most important cases, the European Commission said May 8.
U.S., EU Seen Making Progress on Resolving Differences over Proposed International Services Agreement
May 14, 2012 in WTO Reporter
GENEVA—The United States and the European Union appear to have made some progress in resolving differences over the legal framework for the proposed International Services Agreement (ISA), sources following the negotiations have told BNA.
EU Official: Member States Working on Model Government-to-Government Tax Data Sharing Pacts
May 14, 2012 in Privacy & Security Law Report
European Union member states are focusing on producing uniform model agreements for government-to-government information sharing under the Foreign Account Tax Compliance Act, and such a pact could be finished by the end of June, the EU’s highest tax official told BNA May 7.
EU Commissioner Signals Defeat in Battle to Win EU Approval of Anti-Counterfeiting Trade Agreement
May 14, 2012 in Privacy & Security Law Report
BRUSSELS—European Digital Agenda Commissioner Neelie Kroes waved a white flag in the effort to get the Anti-Counterfeiting Trade Agreement implemented in the European Union when she said May 4 it was all but dead because of overwhelming opposition among political groups in the European Parliament.
Basel Committee Proposes Review of Capital Standards for Trading Book
May 14, 2012 in BNA's Banking Report
GENEVA—The Basel Committee on Banking Supervision unveiled a new set of draft proposals May 3 aimed at tightening existing capital requirements for bank trading operations.
U.S. SEC Sues Deloitte’s Shanghai Affiliate in First Sarbanes-Oxley Section 106 Action Against Foreign Firm
May 14, 2012 in Securities Regulation and Law Report
The Securities and Exchange Commission May 9 sued Deloitte Touche Tohmatsu’s Shanghai affiliate for allegedly “willfully” failing to provide documents to the agency regarding a client under SEC investigation (In re Deloitte Touche Tohmatsu CPA Ltd., SEC, Admin. Proc. File No. 3-14872, 5/9/12).
ANALYSIS: U.S. Listings May Be Making A Comeback: Is The United States A Viable Option For A European Company?
May 14, 2012 in World Securities Law Report
The Securities and Exchange Commission May 9 sued Deloitte Touche Tohmatsu’s Shanghai affiliate for allegedly “willfully” failing to provide documents to the agency regarding a client under SEC investigation (In re Deloitte Touche Tohmatsu CPA Ltd., SEC, Admin. Proc. File No. 3-14872, 5/9/12).
ANALYSIS: The U.S. Volcker Rule And Its Restrictions On Fund Activities: A Primer For Non-U.S. Financial Institutions And The Fund Managers That Market To Them
May 14, 2012 in World Securities Law Report
As has been well publicized, the Volcker Rule is expected to have a significant impact on the global financial markets, changing the way that they operate in important ways, including how securities are underwritten, markets are made and financial institutions generate revenue.