Vessels sailing to the EU from outside the bloc must buy carbon allowances covering half their emissions for the journey. But officials are concerned that ships from far-flung ports are cutting bills without reducing emissions by stopping at ports near EU member countries, and then counting only the shorter final leg into the bloc.

Brussels plans to tighten the rules by including traffic to North African, Middle Eastern and potentially UK ports in its emissions trading system. The rules currently bring in about €7bn-€9bn each year, according to ECSA, the European shipowners’ association […]

[…] “A vessel is paying roughly €300,000 per call so what liners decided to do is not to come directly to the European port but to stop at the nearby non-EU ports to benefit from the 50 per cent ETS rules,” said Alberto Rossi, secretary-general of the Italian shipowners’ association Assarmatori. 

Another issue was vessels bringing non-EU goods to EU ports for transshipment — where they are moved to different ships before being taken on to their final destination outside the bloc.

Rossi said that transshipment services were also moving to north Africa to evade ETS costs, impacting jobs and potentially giving EU countries less control over their supply chains.

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“A ‘flow-constrained’ approach may improve the presentation of the measure in the dialogue with Brussels; it does not, however, transform a legally fragile measure into one that is automatically authorizable,” Piero Vigano and Francesco Mazzocchi, partners at law firm ADVANT Nctm, told ICIS.

Vigano and Mazzocchi said the resolution makes preserving Italy’s net import position and minimizing impacts on crossborder electricity flows “a central operational constraint” of the reimbursement scheme. The lawyers suggested that “the Commission could look more favourably on a mechanism in which the impact on flows is controlled, transparent and verifiable ex ante, rather than on a mechanism in which the cross-border effect is measured only ex post.”

The regulator’s resolution states that the value and frequency of the reimbursement will be calculated by Italian TSO Terna on the basis of rules defined by ARERA, while taking into account the expected price differential between electricity prices in Italy and neighboring EU countries.

“However, even a ‘flow-constrained’ design would not automatically eliminate compatibility issues, because the selective advantage bestowed on gas-fired generators, the effect on trade between member states, the distortion of competition and the effect on the ETS signal would still need to be assessed”, they added.

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Read his profile (in French)here

• Marie Hindré, Partner at ADVANT Altana
• Markus P. Linnartz, Partner at ADVANT Beiten
• Filippo Federici, Counsel at ADVANT Nctm

The new “EU Inc” proposals announced last month to create one harmonized set of corporate rules for companies operating across the European Union have the potential to be a genuine gamechanger for business success and EU competitiveness. Reducing complexity and costs will make it far easier for ambitious, innovative companies to start up, raise capital and grow so they can scale just as seamlessly within the bloc as they could if they were based elsewhere in the world in countries with lower administrative burdens such as the US or China. Yet, while this move towards greater simplification represents a major step forward, several key issues could still undermine the overall success of this important initiative.

Read the full article here

To recap, in the proposal, a company can register within 48 hours, fully online, at a maximum cost of €100 and with no minimum share capital. The Commission says founders will submit their information once through an EU level interface connecting national registers. A central EU register will follow in a second phase.[…]

[…] Fabio Coco, Partner ADVANT Nctm: "The Commission unveiled the EU Inc. proposal on 18 March: it falls short of what the financial sector urgently needs to accelerate innovation and it does not offer any form of ‘fintech passport’ or a genuine ‘single license’ for financial services. 

At this stage, the ‘EU Inc.’ proposal, seems to be a missed opportunity for innovation in the financial sector: the absence of an EU-wide regulatory sandbox or ‘safe harbor’ provision is a notable omission. Such an environment is vital for testing innovative financial services under a reduced regulatory burden without compromising market integrity. By deferring to existing national frameworks, the proposal misses a critical opportunity to lower the high barriers to entry in the banking, insurance, and financial sectors. This lack of centralised ambition risks curbing the competition and innovation the initiative was intended to foster.

In contrast, the progress made by the Italian Supervisory Authorities serves as a robust benchmark. Facilitated by a forward-thinking legislative approach, Italy successfully implemented a national regulatory sandbox. This controlled environment allows supervised entities and Fintech operators to test technologically innovative products and services within the banking, financial and insurance sectors for a defined period – a model that provides the clarity and flexibility currently missing from the broader EU proposal". […]

Read the full article on techround.co.uk

The launch of Fer Z depends on EU clearance, which Viganò describes as “the key step in the process of starting the Fer Z mechanism, without which it cannot be implemented”. He recalls that the European Commission has “expressed reservations about the technological efficiency and compatibility of Fer Z with the EU State Aid Guidelines, as well as the effectiveness of the mechanism in relation to the planned maintenance aspects of the facilities”. Given the innovative nature of the model, he also expects that approval of the GSE and ARERA operating rules “could take quite a long time”.

As for its interaction with existing schemes, Viganò sees Fer Z not as conflicting with Fer X but as “competition among operators for the capacity quotas offered by the various schemes, and of simultaneous competition between the schemes themselves”. He adds that while “the Fer X capacity quota could over time decrease and be partially transferred to Fer Z”, “for the moment it is not possible to envisage migration scenarios because reference tariffs are not known”.

Published in icis.com:

New Fer Z incentive mechanism could reduce renewable curtailment in Italy

Complexity of new Italian Fer Z mechanism could delay implementation

The full article is available in the attached PDF.

The European labour law landscape is set for significant changes with new EU directives and regulations. Work-life balance measures will enhance parental leave rights and promote flexible working arrangements. 

Transparent and predictable working conditions will be reinforced, ensuring employees receive clear information on their rights and obligations. Platform work regulations will introduce stronger protections for gig economy workers, addressing employment status and fair remuneration. 

Equal pay initiatives will tackle the gender pay gap, requiring greater transparency in salary structures. 

Companies must proactively adapt to these evolving standards to remain compliant and foster fairer workplaces.

Click here to read the full article

This guide provides a practical overview of patent litigation law across jurisdictions, covering key topics like:

• Patent infringement (direct and indirect)
• Patent invalidity
• Injunctions and opposition proceedings
• Future trends in litigation

Click here to view the guide

Full article available on the publication's website

MILAN, MUNICH and PARIS (15 September 2021) – Three leading European law firms today announced the launch of a new law firm association – ADVANT – which is uniquely positioned to support clients seeking to expand into, or within, continental Europe.

ADVANT has been established by three independent business law firms: Altana (France), Beiten Burkhardt (Germany), and Nctm (Italy). The members of ADVANT are well-established and highly regarded firms in their respective jurisdictions, and together have significant expertise across a number of distinct practice areas and industry sectors.

As well as collectively supporting major international clients moving into or expanding within Europe, ADVANT firms will also continue to support their national clients with their needs in their respective jurisdictions and internationally. All firms will remain independent legal entities but are incorporating the ADVANT name into their respective brands going forward.

With combined revenues of €216m (2020) and combined team of more than 600 professionals, including more than 140 equity partners, ADVANT is already one of Europe’s largest legal advisors. It currently has a presence in 13 locations across Europe (Berlin, Brussels, Dusseldorf, Frankfurt, Hamburg, London, Milan, Munich, Paris, Rome) and around the world (Beijing, Moscow, Shanghai).

ADVANT is structured as a Swiss Verein, and will be governed by a Board comprised of two representatives from each member firm. The association will be actively recruiting new members in additional key European markets over the years ahead, as it pursues a growth strategy to become a leading European legal advisor.

Philipp Cotta, managing partner of ADVANT Beiten, said:

“Our firms have known one another and worked together for many years now, and over that time it became clear that our values and vision for the future were very much aligned. We believe that we are stronger together, and offer a unique proposition to the market which will enable us to become a top European player.”

Jean-Nicolas Soret, representing the partners of ADVANT Altana, added:

“There is a distinctive opportunity in the legal market for an advisor that combines best-of-breed local expertise and relationships with international reach, but very much focused at a European level. This is the gap that ADVANT fills, offering clients a new perspective and a distinctive advantage as they seek to enter or expand within Europe.”

Paolo Montironi, senior partner of ADVANT Nctm, commented:

“Moving forward together provides a platform for all of us to continue to grow and expand in the years to come. For clients, the result will be true advantage by having seamless access to market-leading specialists in each jurisdiction, and by working with a legal advisor that is focused specifically on Europe. For our respective teams, the association will represent an attractive, multinational work environment for lawyers that embrace the diversity of Europe, creating new opportunities for professional development, collaboration and personal growth. It’s a win-win.”

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Altana, Beiten Burkhardt e Nctm fondano una nuova associazione europea tra studi legali

ADVANT punta a diventare un riferimento nell’assistenza legale per Società e Multinazionali che intendono espandere l’attività in Europa o crescere nel continente.

MILANO, MONACO e PARIGI (15 settembre 2021) – Tre studi legali europei, leader nei rispettivi Paesi, hanno annunciato oggi il lancio di una nuova associazione, ADVANT, che intende avere un ruolo strategico nell’assistere Società e Multinazionali che desiderano espandere l’attività in Europa o crescere nel continente.

ADVANT è costituita da Altana (Francia), Beiten Burkhardt (Germania) e Nctm (Italia), tre studi legali che condividono un solido posizionamento e un’elevata reputazione nelle rispettive giurisdizioni e uniscono competenze ed esperienze in diverse aree dell’assistenza legale (e fiscale) e in diversi settori industriali.

Oltre a supportare congiuntamente Società o Multinazionali che intendono espandere o supportare le proprie attività in Europa, gli studi legali di ADVANT continueranno ad assistere i propri clienti nazionali nelle rispettive giurisdizioni e a livello internazionale. Altana, Beiten Burkhardt e Nctm resteranno entità legali indipendenti ma incorporeranno il nome ADVANT nelle rispettive denominazioni sociali.

Con più di 600 professionisti, tra cui oltre 140 soci, ADVANT si colloca già ora tra le maggiori realtà della consulenza legale europea. ADVANT attualmente ha 13 sedi in Europa (Berlino, Bruxelles, Dusseldorf, Francoforte, Amburgo, Londra, Milano, Monaco, Parigi, Roma) e nel mondo (Mosca, Pechino e Shanghai).

ADVANT, costituita come società di diritto svizzero (Swiss Verein), sarà governata da un consiglio composto di due rappresentanti per ogni studio legale membro.

Nei prossimi anni ADVANT intende promuovere l’adesione alla stessa di altri primari studi di altri paesi europei, perseguendo una strategia di crescita finalizzata a detenere un ruolo leader nella consulenza legale europea.

Philipp Cotta, managing partner di ADVANT Beiten, ha dichiarato:

“I nostri studi legali si conoscono e lavorano insieme da molti anni, durante i quali è diventato chiaro che i rispettivi valori e la visione del futuro sono molto simili. Insieme saremo più forti e potremo proporre al mercato un’offerta unica che ci permetterà di diventare un top player europeo”.

Jean-Nicolas Soret, rappresentante dei partner di ADVANT Altana, ha aggiunto:

“Il mercato dei servizi legali offre una specifica opportunità per chi integra le migliori competenze e relazioni locali con un’operatività internazionale molto focalizzata sull’Europa. ADVANT risponde a questa domanda del mercato offrendo una nuova prospettiva e un vantaggio distintivo alle società clienti che cercano di entrare nel mercato europeo o di espandere l’attività nel continente”.

Paolo Montironi, senior partner di ADVANT Nctm, ha commentato:

“Andare avanti insieme fornisce ai nostri studi legali una piattaforma per continuare a crescere e a estendere l’attività nei prossimi anni. Per i clienti, il vantaggio sarà la possibilità di avere accesso continuo a specialisti leader di mercato in ogni giurisdizione ed essere assistiti da un consulente legale focalizzato sull’Europa. Per i nostri professionisti, l’associazione sarà un ambiente di lavoro stimolante e multinazionale che permetterà di entrare in contatto con la multiformità dell’Europa creando nuove opportunità di collaborazione, crescita professionale e personale. È un beneficio per tutti”.