MEMBER - Advocaat  - Belgian  Lawyer Member of the Brussels Bar

The new EU Regulation on Foreign Direct Investment Screening

On 14 February, The European Parliament (EP) voted in favor of a framework mechanism to screen foreign direct investments (FDI) at EU level, the European Commission (EC).

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EU UPDATE: 3rd Singapore Summit on Export Controls Compliance

Giani Pandey has been invited once again to speak at the Singapore Summit on Export Controls Compliance.

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GCO EU UPDATE: Publication on EU Customs Law

Remission & Repayment of Custom Duties in the EUI am delighted to report the publication in English of a major work on one of the most commercially important aspects of EU Customs Law: remission and repayment procedures, written by two of our colleagues Davide Rovetta and Maurizio Gambardella, and Simon van Cutsem.

The book, published by Kluwer Law International, provides an overview of how the consolidated body of EU customs legislation and case law is interpreted in various EU jurisdictions, with an in-depth focus on the particular remission and repayment procedures – from initial request to appeal.

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EU Update: Ukraine sanctions – EU Import Ban Crimea & Sevastopol

Since our last blog entry on the issue (here), the EU has adopted the Regulation imposing the EU import ban on goods and certain services from Crimea and Sevastopol. The Regulation, which came into force on 25 June 2014, contained two exceptions: (i) a grandfather clause for contracts and (ii) goods presented to the Ukrainian authorities to confirm their origin. The EU published however on the 4th of July a correction relating to the second exception.

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EU Update: EU Adopts Import Ban on Goods & Certain Services From Crimea & Sevastopol

At its meeting of 23 June 2014, the Council of the European Union decided that from the 25th of June onwards goods originating in Crimea and Sevastopol may no longer be imported into the European Union, except if they  have been granted a certificate of origin by the Ukrainian authorities. Furthermore, providing  financial and insurance services related to the import of such goods will equally be prohibited. Such total import ban measures  are relatively exceptional for the EU.

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EU UPDATE: Non-US Companies Hit by US Trade Sanctions Enforcement

In the just published 2014 OFAC (*) Civil Penalties Information Chart four out of the ten companies who settled  with the US authorities since January 2014 for alleged breaches of US trade sanctions are non-US companies. Three of them are EU companies.

Whereas the number of OFAC enforcement actions per year has been declining in the last decade, the financial amounts involved per year have been rising. Even though the biggest fines or settlements have usually been with financial institutions, other sectors, and both large and small companies as well as private individuals can and do get hit by US measures.

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International UPDATE: ICPA Brussels (13-14 May 2014)

GCO is honored to once again be an active sponsor of the next International Compliance Professionals Association event.

The 5th Annual ICPA EU Conference, will be held at the World Customs Organization (WCO) headquarters in Brussels, Belgium from 13 to 14 May 2014.

More info is available at the conference event website.

We look forward to meeting you there.

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EU UPDATE: Greek Presidency of the Council of the EU: 1st of January until the 30th of June 2014

Greece is holding from the 1st of January until the 30th of June 2014 the Presidency of the Council of the EU.
 
It takes over the Presidency from Lithuania, which lists its achievements here: http://www.eu2013.lt/en/news/pressreleases/achievements-of-the-lithuanian-presidency-more-credible-growing-and-open-europe

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EU UPDATE: Customs – New EU Customs IPR Enforcement Rules – 1 Jan 2014

From the 1st of  January 2014 new Customs enforcement rules on Intellectual Property Rights (IPR)  will enter into force in the EU as a result of Regulation (EU) No 608/2013.
 
It will replace Regulation (EC) No 1383/2003, and sets out the new procedural rules for Customs Authorities to enforce IPR’s for goods subject to customs supervision or customs control.

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International UPDATE: ICPA Shanghai (12-13 November)

GCO is honored to once again be supporting the next International Compliance Professionals Association (ICPA) event, this time as sponsor of the first ICPA annual conference in Asia.

It will take place in Shanghai, China at the Hyatt on the Bund from 12 to 13 November.

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EU UPDATE: Customs - Combined Nomenclature 2014 Published

The European Union’s updated Combined Nomenclature (CN), which will be applicable from 1 January 2014, has been published on the 31st of
October 2013 in the Official Journal: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2013:290:0001:0901:EN:PDF.

The Combined Nomenclature is updated on annual basis.

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EU UPDATE: Sanctions – Geographical Overview

The EU has increasingly been implementing within the framework of its Common Foreign and Security Policy (CFSP), besides the binding Resolutions of the United Nations Security Council, its own autonomous restrictive measures or sanctions.

Such measures can target foreign governments, private companies, entities and individuals and can range from eg. arms embargoes, import and export bans, financial restrictions, to travel and visa restrictions.

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EU UPDATE: Croatia's Accession to the European Union – Practical Q&A

The European Commission has published a basic Q&A on the practical impact of Croatia’s accession to the EU.

A copy can be downloaded from here: http://europa.eu/rapid/press-release_MEMO-13-629_en.pdf

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EU UPDATE: ICPA Dublin (23-25 June)

GCO will be participating once again at the annual International Compliance Professionals (ICPA) EU conference which this year is in Dublin (June 23-25).

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EU UPDATE: Data Privacy: EU Still Harmonising & French Inspection Priorities

Companies doing business in the EU have to comply with EU and national personal data privacy legislation. Unfortunately the data privacy legislation in the EU is not yet fully harmonized. This means that in practice, although companies can expect commonalities between legislations of the EU Member States as a result of the EU Data Privacy Directive, companies still have to verify what obligations and restrictions the various national data privacy legislations and regulators of the countries they are active in impose on them.

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EU UPDATE: Competition Law: Dawn Raids – Who’s there…?

Compliance personnel in EU companies will usually be well be aware of the fact that the European and national competition authorities can raid both company premises and their employees’ private homes, subject to certain conditions.

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EU UPDATE: Export Control – Dual Use

The following document summarizes the more than 250 substantive changes made to the EU List of Dual Use items set out in Annex I of the EU’s Export Control Regulation 428/2009.

Regulation (EU) 388/2012 : http://trade.ec.europa.eu/doclib/docs/2012/may/tradoc_149517.pdf

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EU UPDATE: Export Control – Dual Use

A new Annex I to the EU’s Export Control Regulation 428/2009 will enter into force on 15 June 2012. The recently adopted Regulation 388/2012 amends the current Annex I which contains the EU list of Dual Use items.

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EU UPDATE: Sanctions – Geographical Overview

The EU has increasingly been implementing within the framework of its Common Foreign and Security Policy (CFSP), besides the binding Resolutions of the United Nations Security Council, its own autonomous restrictive measures or sanctions.

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EU UPDATE: South Korea - FTA Conference Brussels

DG TRADE is organizing a full one day conference at which it will set out how the European Commission intends to implement the provisions of the EU-South Korea Free Trade Agreement  (the FTA text is available here)

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