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As a result of ongoing discussions, the European Parliament and the Council of the European Union announced on December 13, 2022, that a provisional agreement had been reached to implement a European Union (“EU”) Carbon Border Adjustment Mechanism (“CBAM”) beginning on October 1, 2023.

V&E Environmental Update

December 21, 2022
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Two new United Kingdom (“UK”) data transfer mechanisms, the International Data Transfer Agreement (“IDTA”) and the International Data Transfer Addendum (“UK Addendum”) to the European Union’s (“EU”) new standard contractual clauses (“SCCs”), came into force on March 21, 2022.

April 6, 2022
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On July 26, 2021, Aon PLC (“Aon”) and Willis Towers Watson PLC (“WTW”) announced the termination of a $30 billion proposed merger, citing an “impasse” with the Antitrust Division of the U.S. Department of Justice (“DOJ”).

August 4, 2021
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On April 21, 2021, the European Commission adopted a proposal for the Corporate Sustainability Reporting Directive (“CSRD”).

June 22, 2021
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On June 4, 2021, the European Commission announced the definitive adoption and publication of revamped Standard Contractual Clauses (“SCCs”) for the transfer of personal data to third countries pursuant to the EU General Data Protection Regulation (“GDPR”).

V&E Cybersecurity & Data Privacy Update

June 4, 2021
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Insight

Pathways for U.S. companies to transfer personal data out of the European Union have been repeatedly blocked by EU authorities concerned by what they perceive as gaps in data protection under U.S. laws.

May 20, 2021
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On May 12, 2021, the European Commission (“the Commission”) announced that it will review Facebook’s proposed acquisition of customer relationship management (“CRM”) startup, Kustomer.

May 20, 2021