Volume 27 | September 2022 |
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Where Europeans & Americans Connect to do Business |
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September 2022 NEWSLETTER |
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A Message from the President |
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Recommend EACC Florida to a Client or Business Partner |
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EACC is a Connector
We open doors for our members across our chapter network on both sides of the Atlantic and we keep you informed on the relevant issues affecting your business.
Members of the EACC network enjoy:
♦ Access to our network of high-level business executives & our unique referral service
♦ Invitations to exclusive seminars & a direct exchange with transatlantic experts
♦ Visibility for your organization & opportunities to showcase your thought-leadership
♦ The ability to make a difference & actively engage in the Trans-Atlantic business dialogue
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WEBINAR
The EU’s New Tech Rules and Transatlantic Business: What Do You Need to Know and How Should You Prepare?
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Peter Fatelnig, EU Delegation in Washington DC |
Alan Sutin, Greenberg Traurig |
EVENT DETAILS
10.00AM - 11.00AM EST
3.00PM - 4.00PM BST
4.00PM - 5.00 CET
REGISTRATION FEE
EACC Member: Free
EACC Non-Member: Free
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Do you remember the EU's GDPR and its extra-territorial impact on companies based outside of Europe?
The EU’s Digital Services Act (DSA) and Digital Markets Act (DMA), together, will form a single set of new rules that will be applicable to online intermediaries and digital platforms in the EU. These rules will also apply to online intermediaries and companies established OUTSIDE of the European Union offering services in Europe. They are scheduled to come into force in 2024 - sooner for some type of companies - and might impact you.
Don’t be caught unprepared!
Join us to find out what type of businesses/services/products will be covered by the DSA-DMA Package, what you need to know to anticipate on these new rules and how to build them into your business model.
Speakers
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Peter Fatelnig, Minister-Cousellor for Digital Economy Policy – EU Delegation in Washington DC
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Alan Sutin, Chair of the Technology, Media & Telecommunications Practice and Senior Chair of the Global Intellectual Property & Technology Practice – Greenberg Traurig [Moderator]
- Additional speakers TBC
Issues
- What are the DMA and DSA?
- Which online services will be impacted and what type of companies should be concerned?
- How will the DSM and DMA fit into the EU’s array of tech legislation alongside the 2016 General Data Protection Regulation?
- What role will the EU/US Trade & Technology Council have with regard to the implementation of these rules and their impact on US companies?
- What routes might the U.S. take as it considers similar regulations on tech companies?
- What concretely can you do to prepare and what is the timeline?
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SAVE THE DATE
Lunch & Learn
World Disrupted
Impact on Global Mobility and Recruitment
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The impact of the Pandemic, the war in Ukraine, increasing inflation, energy disruptions, concerns about a global economic downturn as well as deep changes in work habits, are exacerbating the challenges faced by global companies as it relates to their markets, international operations, supply chains and workforce.
Whether you are a European company looking to establish or develop operations in the US, an American or Latin American company planning to expand to Europe or already operating globally, how do you handle talent retention and acquisition? What do you need to consider when recruiting new suppliers, vendors or when establishing manufacturing or operational bases across a larger number of countries? What about the trend toward geographic flexibility and hybrid workplaces? How are changing tax, social security and residency rules for mobile employees and business travelers impacting corporate decisions? Is there a Florida factor in recruitment of international talent and how is it materializing?
Join our panel of experts on all things immigration, taxation, expansion and recruitment for a Lunch & Learn on the latest developments in these areas.
Click here for further details.
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EU - Risk Dashboard Shows Overall Resilient Insurance Sector. The European Insurance and Occupational Pensions Authority (EIOPA) published its Risk Dashboard based on data from the first quarter of 2022. The results show that insurers’ exposures to macro, market and digitalization risks are currently the main concern for the insurance sector. The other risk categories, such as insurance as well as profitability and solvency risks stay at medium levels. Read more.
EU - EU Coordinates Delivery of 60,000+ Tonnes of Life-Saving Assistance to Ukraine. As of 11 August, the EU has coordinated the delivery of 66,224 tonnes of in-kind assistance to Ukraine from 30 countries via the EU Civil Protection Mechanism. This is by far the largest, longest-lasting and most complex operation via the EU Civil Protection Mechanism since it was established in 2001. To support this operation, logistics hubs have been set up in Poland, Romania and Slovakia where assistance is then channelled directly to Ukraine. Read more.
ESMA - Russian War Adds Uncertainty and Volatility to EU Financial Markets. The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today publishes the second Trends, Risks and Vulnerabilities (TRV) Report of 2022. The Russian war on Ukraine against a backdrop of already-increasing inflation has profoundly impacted the risk environment of EU financial markets, with overall risks to ESMA’s remit remaining at its highest level. Read more.
ECB - Licensing of Crypto-Asset Activities. There is currently no harmonised regulatory framework governing crypto-asset activities and services in the EU. This will change with the finalisation of several regulatory initiatives at European and international level that will lay down the broader regulatory framework under which crypto activities are allowed, and how banks should manage the risks they pose. Read more.
ECB - The ECB’s New Inflation Target One Year On. The article addresses the extent to which inflation expectations have become more firmly anchored at the 2% inflation target since the new strategy was announced and how the strategy laid the groundwork for monetary policy normalisation in the current phase of undesirably high inflation? Read more.
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EU/U.S. - EU Moves Forward on Digital Diplomacy and established "Digital Embassy" in Silicon Valley. Decisions made by the European Council over the summer will seek to enhance the EU’s regulatory capacity with partners around the world. A concrete aspect is the opening in September 2022 of an EU outpost in Silicon Valley to promote EU digital policies, standards and regulations, governance models and technologies, and strengthen cooperation with US counterparts.
US - Inflation Reduction Act Signed into Law. The Inflation Reduction Act (IRA) of 2022 marks an important step in US climate ambitions. Its investments carry the potential to accelerate the pace of the domestic transition and move the United States closer to its target of a 50-52 percent reduction in emissions by 2030 while bringing it in line with the EU's Fit for 55 decarbonization strategy and net-zero ambitions. Areas for cooperation could include comparable standards on climate-related financial disclosures, metrics and measurement in areas such as clean hydrogen and carbon capture technology suites, and opportunities for transatlantic private-sector engagement and investment in emerging clean technologies. Read more.
Federal Reserve - Technology, Innovation, and Financial Services. Read the speech to find out what the Fed's thinking is on innovation, crypto-assets, AI, payments & digital currencies, and more. Read here.
IMF & ECB - Achieving Net-Zero Emissions Requires Closing a Data Deficit. A recent report evaluates available climate data, identifies gaps, and offers practical, concrete ways to close those gaps. Read more.
LatAm - Renewable Energy in Latin America. Advancing toward a sustainable energy market, several Latin American countries have embarked on a variety of projects to increase renewable energy. Although obstacles to the fruition of renewable projects have arisen, the push for a greener future continues. From vanguard endeavors to install new solar and wind plants, to government-based clean energy proposals, Latin America is becoming a focal point in the renewable energy market. Read more.
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EACC Florida
MEMBER and PARTNER INSIGHTS
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When to Start the Perm Process for H-1B and L-1B Foreign National Workers. When a U.S. employer makes the decision to sponsor a foreign national worker for the permanent residence process, there must be a multi-pronged analysis with immigration being a small part of the analysis. Specifically, there are 3 areas of consideration: Determining if/when PR must be started to ensure the employee’s continued ability to remain work authorized in the United States; Permanent residence as a recruitment tool; Utilizing the PR process to retain the best talent. Read more.
CEOs: Should You Be Publicly Weighing-in on Layoffs?. This article discusses the risks a CEO is making with a public statement about layoffs. "There is a fine line between the positive impact from senior management being transparent, open and communicative about decisions made by the company, on the one hand, and ensuring on the other hand that any statements made by senior management may not be taken as offensive by employees or otherwise do not violate the law." Read more.
Compliments Cozen O'Connor
Regulatory Scrutiny on the Rise of Bank and Crypto Company Dealings. Federal regulatory agencies are closely monitoring crypto-asset developments and banking organizations’ participation in the crypto-asset industry. To date, the FDIC, CFPB, and the Federal Reserve have all issued guidance especially highlighting the risks associated with bank and non-bank partnerships. Read more.
Data Transfers from European Companies to Their Non-European Affiliates. This is part of Greenberg Traurig’s ongoing series analyzing cross-border data transfers in light of the New Standard Contractual Clauses approved by the European Commission in June 2021. Read more.
Compliment Greenberg Traurig
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EACC FLORIDA
YOUNG VOICES FROM THE FUTURE
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Each month, the EACC Florida Newsletter features a young person - a student, an artist, an entrepreneur - whose identity, vision, project or dreams illustrate the vibrancy of Florida's transatlantic community. If you would like to suggest someone, please contact us HERE. And if you missed one of our Young Voices from the Future, you can find them HERE.
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Isabella Maria Cunningham – Standing up for her beliefs and hopeful for the future
"Fight for the things that you care about, but do it in a way that will lead others to join you." (Ruth Bader Ginsburg)
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Isabella was born in Medellín (Colombia) in 2002. At the age of five, her parents separated and she moved to Miami with her mother where she grew up surrounded by the dynamism and diversity of the immigrant community in S. Florida. She returns to Colombia every summer to visit her father and family. Isabella grew up to know the benefits of living in the US. However her mother was undocumented for many years and this fueled her desire to be an advocate for those too often overlooked.
A natural born leader, passionate about foreign affairs and diplomacy, Isabella aspired to study at Georgetown University. She graduated at the top of her class from Southwest Miami Senior High School with impressive extracurriculars and leadership positions but was not admitted to Georgetown. Disappointed but still optimistic, Isabella decided to attend the Honors College at Miami Dade College. She held many leadership positions – including that of Student Government President - and seized numerous opportunities to serve her community with a focus on womens’ issues, voting rights and minorities. Her intention was to transfer to an Ivy League school after receiving an A.A. in Political Science. That turned out to be a brilliant strategy: Isabella was admitted to Columbia, Cornell, Georgetown, Princeton, Yale AND Harvard!
Isabella chose to attend Harvard University where she will be studying Government and Global Health Policy and graduating in 2024.
In addition to English and Spanish, Isabella speaks a little Portuguese and taught herself some French. Although she has never been to Europe and has no particular relationship to the “Old Continent”, her intellectual curiosity and interest in foreign affairs led her to learn about the European Union, how it came together, how the various countries in Europe interact among each other and the significance of the transatlantic relationship. She hopes to travel to Europe in the summer of 2023 where interning at the United Nations, European Parliament or other global institution is on her list of things to do.
Like many young people from the Z Generation, Isabella is acutely aware of the global challenges facing the world. But she also sees that just like her, young people are embracing a diversity of perspectives and are standing up for their beliefs. And this gives her hope for the future.
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EACC FLORIDA
Welcome to New Members !
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The Cloud Communications Alliance |
The Cloud Communications Alliance (CCA) is an international peer association dedicated to the growth of the cloud communications industry. Our members oversee the deepest technology investments and have the largest customer bases in our industry. The CCA provides regulatory, operational and investment information and a forum to share and grow build, sell, and scale their enterprise communications systems.
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CyCommSec is a company that operates in the cybersecurity industry. It helps organizations manage cybersecurity risks and improve cybersecurity posture by eliminating and managing threats and vulnerabilities.
CyCommSec provides services such as Penetration Testing, Cybersecurity Audits and Cybersecurity consultancy in MSSP model.
CyCommSec has a unique Offensive Security Platform BeeSecure which allows customers to find security gaps, mitigate them, measure and manage cybersecurity risk and be always one step ahead from hackers.
CyCommSec is head-quartered in Warsaw (Poland) and plans to establish its US operations in Florida.
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TRAVELLING?
Meet the EACC Network
Our Members are Part of Something Bigger
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Together with its sister chapters, EACC Florida is part of a growing and highly dynamic transatlantic network reaching over 10,000 executives in the US and across Europe. With over 750 members, the EACC is a valuable resource for any size business. If you would like to get involved, let us know.
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EACC Florida President's Circle |
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