bluuebunny/crossref_metadata_2025 huggingface dataset:
Restitution and Liability in the Multilevel Regulatory Framework of Unauthorized Digital Payment Transactions
Authors: Paglietti Maria Cecilia
Published: May 2022

The matter of payment services and, especially, the liability regime for unauthorized digital payment transaction(s) is regulated by a multi-level system of rules, comprising European legislative acts (Directive 2015/2366 second Payment Services Directive (PSD2) and the national rules transposing the EU rules), European non-legislative acts (regulatory agencies: Delegated Regulations, Regulatory Technical Standards [RTS], Guidelines, Opinions, Questions and Answers), and the pre-existing general national rules on private relationships. The matter is subject to multiple potential observation points: the tension and coexistence of national rules and supranational regulations; the effect the variety of sources and the fragmentation of governance in the financial market have on the interplay of sources and the theory of interpretation; the regulatory force of soft law.
Product Liability for Information products?: The CJEU Judgment in VI/KRONE -Verlag Gesellschaft mbH & Co KG, 10 June 2021 [C-65/20]
Authors: Machnikowski Piotr
Published: May 2022

In its Krone judgment, the Court of Justice interpreted the Product Liability Directive to determine whether a copy of a newspaper containing incorrect paramedical advice constitutes a defective product within the meaning of the Directive. The negative answer given by the Court is correct, although not all the arguments in support of it are convincing, and others can be identified. The issue of defining product and defect is central to the application of the Directive, and the Court’s views may also be of some use in the discussion on its modernization.
Evolutionary Developments in Spanish Corporate Law
Authors: Buğra Erdem Fatih
Published: May 2022

It is very common to encounter commercial law regulations designed towards encouraging shareholders to make long-term investments in different jurisdictions in response to the issue of short-termism. Until a few months ago, EU Shareholder Rights Directive was seen as the most effective step, which was put into effect as of 3 September 2020, as regards the encouragement of long-term shareholder engagement. However, when the latest developments are considered, a new era has just started in Spain with Law No. 5/2021, which entered into force on 3 May 2021, regarding the duties and responsibilities of managers to increase shareholders’ long-term loyalty to listed companies by complying with the modifications envisaged by Directive 2017/828. This study, in light of what has been covered hitherto, examines the amendments (reform) brought by Law No. 5/2021 as well as evaluating its possible effects on the functioning of company law.

Spanish Corporate Law Reform, Short-Termism, Shareholder Activism
The Broadening ‘Soft Law’ Powers of the European Banking Authority
Authors: Domina Mariia
Published: May 2022

The European Banking Authority (EBA), one of the pillars of the European System of Financial Supervision, has a power to issue guidelines and recommendations, both representing soft-law instruments, in order to achieve effective and common regulatory and supervisory standards in the banking industry. In the recent decision (15 July 2021), the Court of Justice of the European Union clarified the power of the EBA to issue soft law instruments, a decision that has important repercussions on all European supervisory authorities.

Court of Justice of the European Union, European Banking Authority
Steering Companies Towards Policy Objectives Through Mandatory Disclosure Rules in EU Law
Authors: Garcia Rolo António
Published: May 2022

Mandatory disclosure rules applicable to EU companies, such as the basic information every company is required to disclose on a public register and periodical financial information, have traditionally sought to mediate agency problems between managers and shareholders and company insiders and outsiders. However, mandatory disclosure foreseen in EU law has since expanded beyond that, especially in large companies, listed companies or those carrying out certain activities. Some those more recent mandatory disclosure rules – such as the Shareholders Rights Directive and the environmental and social disclosure rules foreseen in the Non-Financial Reporting Directive and the Sustainable Finance Disclosure Regulation – have gone beyond the traditional end of mediating agency problems (or, in the case of listed companies, provide price informativeness) and have, instead, been seeking to use their effects on corporate governance to steer companies towards distinct policy objectives set out by the legislator. By equipping the potential users of that information – shareholders and stakeholders alike – with more information, the legislator seeks to change the behaviour of the disclosing company without being too forceful or imposing.
The Commission’s Evaluation of the Financial Executives’ Remuneration Policy and the Amendments of Directive No 2019/878
Authors: Petrucci Carlo
Published: May 2022

The Commission evaluation of EU policies has become an important practice for the review of EU rules. This article is a case study of the 2016 evaluation of the remuneration rules applicable to financial executives (Directive No 2013/36 – CRD IV), which led to their amendments made by Directive 2019/878. These amendments have been negligible and despite the efforts of private interest groups operating in the financial sector, the so-called bonus cap has been maintained. This article explores the dynamics amongst the actors involved in the evaluation of the remuneration policy (Commission, European Banking Authority, and stakeholders) and provides an account of the factors that shaped such evaluation. This paper argues that the influence of private interest groups was limited. Although the bonus cap is a contested policy, and the evidence of its impact ambiguous, it still enjoys legitimacy.

Financial executives’ remuneration policy, CRD IV Bonus Cap, Commission evaluation, Amendments of Directive No 2019/878.
Judicial Interpretation of Commercial Contracts in English and French Law: A Comparative Perspective
Authors: Pedamon Catherine
Published: May 2022

In this paper, I consider whether the recent overhaul of French contract law via ordonnance No 2016-131 of 10 February 2016 has changed the principles of judicial interpretation of commercial contracts, and how these compare with the principles in English law. One of the questions I ask is whether the traditional dichotomy between the French subjective approach and the English objective one has been altered now that the objective principle of interpretation has been incorporated in the Code civil. I explore how both jurisdictions deal with the main aspects of judicial interpretation, such as the nature of the interpretative question and the purpose and scope of contractual interpretation. Similarities emerge that show a rapprochement between these judicial approaches. Naturally, differences persist, which reflect distinct contract law values embedded in each legal order. Even if the ordonnance No 2016-131 has only introduced in appearance small changes to the provisions relating to interpretation, French courts now have the interpretative tools to follow in the footsteps of English courts when interpreting professionally drafted commercial contracts. An emerging coalescence around an objective literal interpretation in a sophisticated business setting is to be welcomed as it enhances commercial certainty across borders.

Contractual interpretation, commercial contracts, principles of interpretation, subjective interpretation, objective interpretation, contextualism, textualism, English contract law, French contract law
Legislation Comment: Opt-In to Coordination Proceeding According to the Czech Insolvency Law
Authors: Moravec Tomáš , Valenta Petr
Published: May 2022

The European Insolvency Regulation enables to coordinate recovery procedures of the group of companies within the EU member states on voluntary basis. In the matter of approval of coordinated proceeding the national rules for approval of recovery proceedings are referred. The authors therefore deal with the question whether and how it is possible to apply national legislation on decision to opt-in to coordination proceeding in the frame of Czech law. The paper also focuses on question who gives approval to opt-in and what kind of majority is needed. Furthermore there is a question raised whether the conditions for approval according to national rules should have been passed to European level of legislation.

Contractual interpretation, commercial contracts, principles of interpretation, subjective interpretation, objective interpretation, contextualism, textualism, English contract law, French contract law
The Plight of the UK Private Company Minority Shareholder
Authors: Hardman Jonathan
Published: May 2022

Agency cost analysis is a fundamental aspect of Anglo-American company law theory. Within the company three types are said to exist: director/shareholder, majority/ minority and firm/outside world. Whilst law is, doctrinally, consistent at mitigating the first of these (the paradigmatic corporate agency cost), it fails to mitigate the second. Several features of UK company law exacerbate this agency cost, which is felt most acutely in private companies. Ostensible protections for the minority fail to mitigate these issues. This raises questions for company law theory: should law provide additional minority protections, or do fundamental differences exist between categories of agency costs identified within the company?

Company Law, Corporate Law, Agency Costs, Private Companies, Minority Shareholders, Minority Remedies, Doctrinal Analysis, Economic Analysis of the Law
Challenges Ahead for the EU Banking System
Authors: V. Gortsos Christos
Published: May 2022

The present paper discusses some recent and current challenges for the banking system in the European Union (EU). While Section 1 develops on its overall robustness before the onset of the pandemic crisis and briefly overviews the regulatory and supervisory responses to preserve its stability amidst that crisis, Section 2 focuses on two challenges relating to potential threats to banking stability in the EU: non-performing loans and negative central bank interest rates. Section 3 addresses then the challenges linked to EU regulatory developments in the fields of sustainable and digital finance. Finally, Section 4 contains a final assessment and the concluding remarks.

Global Financial Crisis (GFC), pandemic crisis, financial stability, “Basel III impact”, non-performing loans (NPLs), negative interest rates, Sustainable Finance Strategy, management and supervision of ESG risks, Digital Finance Package, regulation of crypto-assets
Informational Obsession, Opinion Control and Freedom of Expression in Financial Regulation – Some Critical Perspectives
Authors: Bismuth Régis
Published: May 2022

The theoretical underpinnings of financial regulation have led to an obsessive quest for transparency. This has not only led to a gradual increase in disclosure requirements, but has also generated some other unintended consequences, such as structural conflicts of interests, which affect the modes of information (and opinion) production of influential actors. Credit rating agencies, for example, have also in their own right raised new regulatory concerns. Within this wider context, this article explores whether regulatory initiatives to stringently discipline credit rating agencies’ activities (particularly with a view to issuing sovereign ratings), or other initiatives which reflect an increasing willingness to control speech in financial markets (for instance those targeting activist shareholder strategies), are in line with relevant principles guaranteeing the freedom of expression which have seemingly remained a blind spot of financial regulators.

Financial regulation, transparency, disclosure, information, opinion, freedom of expression, financial disintermediation, credit rating agencies, shareholder activism, financial evaluation
The Journey to Open Finance: Learning from the Open Banking Movement
Authors: De Pascalis Francesco
Published: May 2022

The creation of an open financial data ecosystem is a new frontier to be explored within a financial services industry characterized by the presence of new players, along with traditional financial intermediaries. Spurred by datafication and digitisation, open finance is considered an extension of the open banking foundation launched in Europe through targeted regulation. The open finance journey is just beginning. By taking stock of the open banking experience across jurisdictions, this article examines the future shift from open banking to open finance. Selected critical issues within the open banking context give valuable indications for the development of open finance.

Open finance, datafication, digitisation, open banking, APIs, PSD2, Consumer Data Right, reciprocity, consumer education
Climate-related Financial Risks: Considering an Emerging Framework for Assessment and Disclosure in a Regulatory Perspective
Authors: Myklebust Trude
Published: May 2022

Climate-related financial risks have become a crucial concern in financial policymaking. This recent development is propelled by concerns that financial markets have underestimated, and are unprepared for, the costs and losses that will follow as the effects of climate change escalate. It is also driven by the enormous scale of investments required to facilitate the transition to a low-emission society. The Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) are one example of a response to these developments in the realm of financial policymaking. They aim to encourage disclosure of climate-related risks, by introducing new categories of risk – namely, physical risk and transition risk. This article examines the new categorization of risks and discusses both its integration into non-binding reporting guidelines in the European context and its potential for broader adoption.

Climate-related financial risk, Action Plan on Financing Sustainable Growth, ESG, TCFD, physical risk, transition risk, non-financial reporting, responsible investment
Administrative Independence Under EU Law: Stuck Between a Rock and Costanzo?
Authors: Enqvist Lena , Naarttijärvi Markus
Published: May 2022

EU law places a number of requirements on administrative authorities that puts them in potentially invidious positions; while EU law today does not require institutionally independent administrative authorities or provide protection for the independence of authorities beyond the field of data protection, it does require administrative authorities to act independently through the loyal and effective enforcement of EU law. This requirement of acting independently without institutional independence raises certain implications for the role of administrative authorities acting within the hierarchical administrative orders of Member States. Using the case of Sweden – a Member State where administrative authorities enjoy significant constitutionally protected independence in the application of law and decision of cases – this article argues that the effect of EU law obligations of effectiveness and loyalty is a weakening of the hierarchical influence of the government over its own authorities, with a resulting shift of influence towards the legal arena through the provision of politically expedient interpretations of EU law. The invidious position of administrative authorities within the scope of EU law is likely to make them vulnerable to such influence, which may ultimately interfere with the effective administration of EU law.

Administrative independence, EU-law, principle of effectiveness, national institutional and procedural autonomy, distributed administration, national administrative authorities, constitutional law, Costanzo, Tele2/Watson
Digital Humanism: The Constitutional Message of the GDPR
Authors: Celeste Edoardo , De Gregorio Giovanni
Published: May 2022

This article aims to analyse the constitutional message of the General Data Protection Regulation (GDPR) in the age of artificial intelligence. Although the GDPR does not formally have any constitutional character, it can be said to play a para-constitutional role from a functional point of view: it translates and implements core constitutional principles in the context of the algorithmic society. This article traces the legislative origin of the GDPR’s framework on automated decision-making showing that it aims to enhance a series of key constitutional values, preserving human autonomy, increasing legal certainty, and providing procedural safeguards. The article finally highlights how the GDPR is promoting a constitutional message deeply rooted in a new form of ‘digital humanism’: a conception of the digital society where the human being and her dignity should resolutely outrank machines, technology and, ultimately, economic efficiency.

artificial intelligence, GDPR, digital humanism, rule of law, human dignity, constitutionalism
Proposal for a Carbon Border Adjustment Mechanism
Authors: Schippers M.L. , Wit W. De
Published: May 2022

On 14 July 2021 the European Commission published a proposal for a Carbon Border Adjustment Mechanism (CBAM). The authors discuss the background and legal structure of what the Commission has presented as a climate measure. They also provide detailed commentary on the provisions in the current proposal, including discussion of the interaction between customs law and the proposed CBAM. Lastly they consider the international reactions to the CBAM, as well as CBAM initiatives elsewhere in the world.

Carbon border adjustment measures, climate change, customs, European Union
Specific Features of Transboundary Movement of Intellectual Property Items in the EAEU
Authors: O. Shokhin Sergey , Volkova Anna A.
Published: May 2022

The article studies a problem, which has not previously been explored in the Russian legal science and it relates to the specific features of legal protection of intellectual property items in transboundary movement in the Eurasian Economic Union (EAEU). It evaluates the process and prospects for the development of a common intellectual property market within the EAEU, highlights the features and problems arising in the process of declaring and controlling intellectual property items in export and import operations, and the difficulty of determining the amount of customs payment. The conclusions define promising trends of legislative development in the field of intellectual property protection in transboundary movement.

Protection of intellectual property rights, civil and customs law, tax and non-tax payments, counterfeit, parallel import, customs register
The Logistics Service Providers’ Pre-tax Deduction of Import VAT Is Still a Pipe Dream and the Recent ECJ Decision Hasn’t Changed That: Or Has It?
Authors: Gesinn Jöran
Published: May 2022

According to general opinion in Germany and further EU Member States, all questions regarding pre-tax deduction of import VAT by a logistics service provider (‘LSP’) have been settled: there is no right to deduction without power of disposition at the time of the import. As LSPs typically become debtor of the import VAT, but do not dispose of the imported goods, they have been excluded from pre-tax deduction in the past. Besides causing costs for involved companies in millions of Euro, this clearly violates the principle of neutrality as one of the core principles of the EU VAT directive, still no steps have been taken to rectify the situation. The requirement of power of disposition is mainly derived from the cost formula test the Court of Justice of the European Union ECJ has been traditionally applying to VAT cases. In its recent Weindel-order of 10 October 2020, C- 621/19, the ECJ has – for the first time – amended the cost formula with regard to import VAT specific aspects. This article investigates whether in the light of Weindel, power of disposition can still be made an obligatory requirement of the right to pre-tax deduction of import VAT.

Value added tax, VAT, pre-tax deduction, indirect representative, logistics service provider, cost-formula test, principle of neutrality of VAT, Council Directive 2006/112/EC, VAT-directive, upstream import cost, power of disposition
Interview: Interview of Brian Murphy, Former Chief of Intelligence, Department of Homeland Security
Authors: Fraedrich Laura
Published: May 2022

Background: Brian Murphy has just wrapped up a decorated twenty-five-year career in the government, which included five years in the Marine Corps, followed by twenty years in the FBI. Brian’s career in the government recently concluded with a stint at the Department of Homeland Security, where he was the Chief Intelligence Officer, Chief Information Sharing Officer, and Chief Counterintelligence Officer for the department. M. Murphy also became the highest-ranking whistleblower in US government history in 2020 when he said he was told to stop discussing the threat of Russian interference in the 2016 Presidential election and to highlight the role of left-wing groups in anti-racism protests. All of these experiences provide him with a unique view about the intersection of national security and international trade issues.
An Overview of the WTO’s Plurilateral Agreement on Services Domestic Regulation
Authors: Bangura Kadijatu Zainab , Kromah Abraham Zaqi
Published: May 2022

TheWTO’s General Agreement on Trade in Services (GATS), which has been in effect since 1995, has been used byWTO Members to facilitate increased growth in trade in services by regulating global transactions on trade in services in line with the specific commitments undertaken by everyWTO Member in the GATS. However, growth in trade in services has been clouded by significant barriers to trade in services that continue to exist in many countries in the form of unintended trade-restrictive measures across most services sectors, obscure regulations, and burdensome regulatory procedures. The successful conclusion of the Reference Paper on services domestic regulation is an effort to reduce these barriers and further stimulate trade in services.

WTO, GATS, Services Domestic Regulation, Joint Initiative, Plurilateral Declaration, Negotiated Disciplines, regulatory processes, Reference Paper, barriers to services trade, predictability and transparency
The Science of Witness Memory: Implications for Practice and Procedure in International Arbitration
Authors: Cartwright-Finch Ula , A. Wade Kimberley
Published: May 2022

Witness evidence plays a lead role in international arbitrations, yet the reliability of witness evidence in arbitral contexts has received little attention from legal practitioners. Hundreds of scientific studies have highlighted the fragile nature of witness memory and the ease with which memories can become unwittingly corrupted. In this article, we explain why the psychological research on witness memory is relevant to international arbitration and outline some of the key findings that have important implications for procedure and practice. Alongside the large body of science illustrating the malleability of witness memory, there exists a substantial amount of research outlining how best to preserve or maximize the quantity and quality of witness evidence. Indeed, many simple measures can be adopted by arbitrators and counsel, when eliciting and presenting witness evidence. When educated on the psychological science concerning the factors that can render even the most meticulous and honest witness prone to error, fact-finders will be in a far better position to assess witness evidence in international arbitrations.

Witness memory, witness statement, witness evidence, testimony, misinformation, cognitive bias, psychology, probative value, reliability
W(h)ither Institutional Terms of Reference?
Authors: Sc V. K. Rajah
Published: May 2022

Although Terms of Reference (‘ToR’) have been a longstanding and distinctive feature of the International Chamber of Commerce (ICC) Rules of Arbitration for almost a century, their continuing relevance and necessity warrant scrutiny, considering the radical evolution of international arbitration in recent years. The introduction of sophisticated procedural tools and frameworks, together with most states and courts exhibiting ‘pro-arbitration’ attitudes, lead one to question whether ToR remain a necessary procedural tool. In answering this question, the article first assesses the historical context in which the ToR were introduced to serve as a submission agreement and questions whether ToR continue to serve their historical role. The article thereafter closely scrutinizes the ToR’s current features and functions and considers whether the ToR have outlived their usefulness by analysing whether they are needed to fulfil those functions. The fact that ToR are no longer required as necessary evidence of consent and/ or to assist in the enforceability of an award, together with the advent of new procedural tools and practices, have rendered the ToR all but superfluous in today’s context. The article proposes that the ToR’s mandatory nature be dispensed with in the interest of efficiency, making way for dynamic procedural alternatives.

International Arbitration, Terms of Reference, ICC, Arbitration Procedure
A Requirement, A Factor, or A Figure of Speech? Role of Prejudice When Challenging Awards Under the Model Law
Authors: Chan Darius , Koh Zhi Jia
Published: May 2022

Both parties and courts routinely invoke the term ‘prejudice’ in applications to set aside an arbitral award or refuse its enforcement. This suggests that the use of the term is more than just a figure of speech. It is generally understood that prejudice, in the sense of impact or effect on the outcome of the arbitration, is relevant for procedural challenges but not jurisdictional challenges. However, questions remain as to whether prejudice is legally relevant for challenges that are neither strictly procedural or jurisdictional in nature, whether prejudice is relevant as a factor for consideration or as a legal requirement when challenging an award, and the meaning of prejudice. This article shows that the usage of the term ‘prejudice’ in case law is inconsistent and far from straightforward. This article attempts to elucidate a clear and structured way of understanding the role prejudice plays for each ground for challenging an award under the Model Law.

Model Law, Article 34, Article 36, Setting Aside, Refusing Enforcement, Procedural Challenge, Jurisdictional Challenge, Residual Discretion, Materiality, Prejudice, Causative Link
Non-recognition of Dissenting Opinions in CAS as a Controversial and Unresolved Matter
Authors: Goryacheva Anastasia , Kisliakova Natalia
Published: May 2022

In this article the authors cover the problem of expressly established non-recognition of dissenting opinions (separate opinions) in the Court of Arbitration for Sport (CAS) being uncommon for arbitration institutes. In particular, the authors analyse approaches to dissenting opinions in various national legal systems and arbitration institutes (as well as other dispute resolution bodies) which mainly allow dissenting opinions (as described below).

The main focus and goal of this article is to explore possible considerations that might have led to non-recognition of dissenting opinions in CAS proceedings and whether this is common in arbitration and international justice. Having researched this question, the authors conclude that the origins of such a substantive influence on the existing regulation could be: (1) the CAS’s precedent role; and (2) the influence of Swiss law as lex arbitri. The authors also conduct substantial analysis of existing views, asking whether the lack of dissenting opinion is a positive or a negative feature and conclude that the dissenting opinion is still very controversial regarding its impact.

The chosen topic is important because the approach of various dispute resolution bodies seems not to be unanimous and there is no global tendency in this respect. The topic is especially timely, considering the recent decision of a Frankfurt Court of Appeal which refused to enforce an International Chamber of Commerce (ICC) award due (among other reasons) to the existing dissent which in the opinion of the court violated public policy.

dissenting opinions, separate opinions, concurring opinions, arbitral awards, the Court of Arbitration for Sport (CAS), sports arbitration, international arbitration, decision, award, alternative dispute resolution, arbitrators, deliberation, joint or individual opinions
Regulating Composite Platform Economy Services: Examining the Applicable Legal Framework in Light of Recent Judicial Developments
Authors: Chapuis-Doppler Augustin , Delhomme Vincent
Published: May 2022

Numerous platform operators provide composite services comprising electronic and non-electronic elements, whose legal classification has been highly debated. This is partly explained by the fact that theEU law regime applicable to information society services (ISS) is far more favourable to businesses than that applicable to other types of services. The most recent case-law, however, has noticeably strengthened Member State regulatory prerogatives regarding ISS by, inter alia, giving a whole new meaning to the provisions of the E-commerce Directive. This twenty-year old legal act certainly needed reshuffling, but the Court’s approach has created a high degree of uncertainty forMember States wishing to regulate ISS in compliance with their notification obligations. Further, the applicable legal framework fails to guarantee the freedom to provide composite platform economy services that classify as two independent services of offline and online nature. The present article presents the main takeaways from recent judgments and highlights the structural differences between the legal regime applicable to ISS and that applicable to other kind of services, as well as their shortcomings.

Digital Single Market – Regulation of the platform economy – Composite services – notification – online platform liability – e-commerce – Digital Services Act – Directive 2000/31 – Directive 2015/1535 – Directive 2006/123
Stress Test for EU’s Investment Court System: How Will Investments Be Protected in the Comprehensive Agreement on Investment?
Authors: Chaisse Julien , Ji Xueliang
Published: May 2022

On 30 December 2020, the European Union (EU) and China agreed in principle to a revamped investment treaty: The Comprehensive Agreement on Investment (CAI). Notably, the EU and China have not decided which investment dispute resolution system will be included under the new agreement. Instead, the EU and China are continuing negotiations on this contentious topic. This article discusses the key features of the proposed investment court system in the context of the CAI negotiations to assess whether China could agree on such a paradigmatic change that would have systemic consequences. The article explains the objective reasons behind China’s partial support for the proposed reforms to the existing investor-state arbitration system. For example, China has supported adding an appellate body without accepting the EU’s full-fledged investment court proposal. Finally, the article identifies the points of convergence and divergence which will shape the CAI negotiations and pave the way to global investor-state dispute settlement (ISDS) reform.

comprehensive agreement on investment (CAI), investor-state dispute settlement (ISDS), investment court system (ICS), United Nations Commission on International Trade Law (UNCITRAL Working Group III), Comprehensive Economic and Trade Agreement (CETA), EUVietnam Free Trade Agreement (EVFTA), State-to-state dispute resolution, Achmea case, financial responsibility regulation, European Commission
Approaches to Digital Trade and Data Flow Regulation Across Jurisdictions: Implications for the Future ASEAN-EU Agreement
Authors: Burri Mira
Published: May 2022

In the last two decades the venue of free trade agreements has turned into an important platform for digital trade rule-making. Yet, the approaches of individual states differ profoundly and the emerging data governance regime is deeply fragmented.The article seeks tomap these developments by looking at selected preferential trade agreements (PTAs) and their design. The enquiry focuses on the United States (US) and European Union (EU) approaches and discusses the differing stances with regard to data flows regulation in particular, while highlighting innovative solutions found in recent trade deals, such as the Comprehensive and Progressive Agreement for Transpacific Partnership (CPTPP) and the United States Mexico Canada Agreement (USMCA). The article then provides an overview of ASEAN’s initiatives with respect to electronic commerce. Against this backdrop, the article evaluates the prospects of digital trade related rules in the future ASEAN-EU agreement.

CPTPP, electronic commerce, EU FTAs, data flows, digital trade, RCEP, USMCA
The Roadmap to the ASEAN-EU FTA: Reimagining SPS Cooperation in the Regionto-Region Context
Authors: Lin Ching-Fu
Published: May 2022

While the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) relaunched negotiations on ASEAN-EU FTA in 2017, few signs have indicated significant progress in trade talks and EU has been prompted to pursue, in parallel, bilateral free trade agreements (FTAs) with individual ASEANMembers States as building blocks for the region-to-region megaproject. The underlying divergence in economic, political, historical, and social dimensions between ASEAN and EU has continued to condition bi-regional negotiations, and issues of sanitary and phytosanitary (SPS) are of particular importance given the large inter-regional agri-food trade and inherent tensions embedded in SPS measures that are adopted to strike a balance between trade liberalization and public health. Whether and how the two blocs can reconcile different interests and policy agendas in shaping SPS cooperation under the prospective FTA merits in-depth examination. This article analyses the trajectory and dynamics in ASEAN-EU SPS cooperation. It assesses the SPS Chapters of the EUSingapore and EU-Vietnam FTAs, drawing on their relevance to and implications for region-to-region development. Lastly, this article highlights various bottom-up SPS cooperation initiatives between the two—due to EU’s technical assistance, and more critically, ambition to export its normative paradigms globally—emphasizing their role as catalyst for deeper region-to-region SPS cooperation.

ASEAN-EU FTA, EU-Singapore FTA, EU-Vietnam FTA, SPS Agreement, sanitary and phytosanitary measures, New Asian Regionalism
Toward an ASEAN-EU FTA: Examining the Trade and Sustainable Development Chapter in the Prospective Indonesia-EU CEPA
Authors: Limenta Michelle
Published: May 2022

The successful outcome of bilateral free trade agreement (FTA) negotiations with individual ASEAN Members can be an important precursor toward the intra-regional FTA between ASEAN and the EU. The EU’s bilateral approach with Singapore and Vietnam appears to be fruitful thus far. Meanwhile the Comprehensive Economic Partnership Agreement (CEPA) negotiation with Indonesia is still in progress. Indonesia’s most important export commodity to the EU, palm oil, epitomises a potential challenge to the CEPA in particular in the area of trade and sustainable development (TSD). This article seeks to explore sustainability-related provisions potentially agreed upon in the Indonesia-EU CEPA which together with EU-Vietnam and EUSingapore FTAs will be a sound indicator for a future ASEAN-EU FTA, and how to deal with the issue of palm oil in the CEPA.

ASEAN, EU, environment, FTA, Indonesia, labour, palm oil, sustainable development
Demystifying the Sustainable Development Chapter in the EU-Vietnam FTA
Authors: Thi Nhung Nguyen , Trinh Hai Yen
Published: May 2022

When trade and environment are jointly considered, relaxing environmental standards can nurture economic growth. Among several instruments to balance trade and the environment, free trade agreements (FTAs) have been increasingly employed. This is particularly a priority policy of some developed countries when negotiating FTAs, other non-commercial commitments are conditioned for granting market access to goods from developing countries. Using Chapter 13 of the European Union and Vietnam free trade agreement (EU-Vietnam FTA) as a case study, this article argues that the EU’s model of sustainable development is either a trade-off to gain market access for Vietnamese goods, or a meeting point between the EU’s priority policy and Vietnam’s internal need of addressing trade and sustainability. We further suggest that the sustainable development chapter in the prospective ASEAN-EU FTA, which would share great similarities with that in the EU-Vietnam FTA, could be agreed upon when the EU’s perspective meets ASEAN’s internal needs.

EU-Vietnam FTA, EU FTAs, sustainable development, Vietnam’s internal needs
Brexit: The Direct and Indirect Effect of the EU-UK Trade and Cooperation Agreement
Authors: Korving J.J.A.M. , van der Have J.C.
Published: May 2022

The United Kingdom (UK) is no longer part of the European Union (EU). The new relationship between the two parties has led to a trade and cooperation agreement (TCA). While the agreement contains some specific tax provisions and ensures the freedom of movement, in principle, it has no direct effect. This raises questions about the actual impact of this agreement for taxpayers. The authors discuss the direct and indirect effect of the agreement, concluding that courts may, in accordance with World Trade Organization (WTO) law, still be held to interpret their domestic (tax) laws in compliance with the principles from the agreement, including comparably formulated fundamental freedoms.

Brexit, treaty, WTO, direct effect, indirect effect, EU, interpretation, dispute resolution.
Critical Review of the ATAD Implementation: The Implementation of the ATAD in Luxembourg
Authors: Pantazatou Katerina
Published: May 2022

This article examines the implementation of the Anti-Tax Avoidance Directive (ATAD) in Luxembourg. Specifically, it analyses all the additions and amendments that had to be made into Luxembourg law, due to the ATAD. It does so in an analytical and critical manner by going through all ATAD anti-avoidance provisions and examining the way they were implemented into Luxembourg law and how they differentiate from the previous rules (if they existed at all). It also critically assesses whether these changes have given rise to any inconsistencies or remaining questions.

ATAD, ATAD 2, Luxembourg.
Country Note: Assessing the Corporate Use of Tax Relief Measures in Portugal in the Wake of the Pandemic: A Survey
Authors: Martins António , Dinis Ana
Published: May 2022

The covid 19 pandemic has been affecting the social and economic system of every country. In the economic domain, policymakers have used an array of measures to alleviate the financial stress of individuals and firms. A broad strand of literature has discussed the wide range of tax relief measures and their possible effectiveness.

In the corporate sector, one year after the outbreak of the pandemic, it is time to assess how firms took advantage of tax relief measures enacted by governments and to analyse which of those are more appropriate. The purpose of this article is therefore to connect the literature about fiscal policymaking with the effective use of covid 19 relief measures in the corporate sector.

Based on a survey of 200 chartered accountants with comprehensive knowledge of Portuguese firms´ utilization of fiscal measures, the authors present an analysis related to the utilization of tax relief measures in three important areas: the VAT, corporate income tax, and individual income tax. The VAT payment deferral emerges as the most important area for tax relief considering its more immediate impact on cash flows and liquidity. Additionally, respondents were requested to offer their opinions about the economic sectors in which relief measures had a more intensive use.

Tax relief, global tax policymaking, pandemic, covid 19 relief measures, corporate tax
Isoform-specific upregulation of FynT kinase expression is associated with tauopathy and glial activation in Alzheimer's disease and Lewy body dementias
Authors: G. K. Tan Michelle , K. P. Lai Mitchell , T. Francis Paul , Ballard Clive , Lee Chingli , T. W. Lim Frances , H. Lee Jasinda , Y. B. Low Clara
Published: May 2022

Cumulative data suggest the involvement of Fyn tyrosine kinase in Alzheimer's disease (AD). Previously, our group has shown increased immunoreactivities of the FynT isoform in AD neocortex (with no change in the alternatively spliced FynB isoform) which associated with neurofibrillary degeneration and reac-tive astrogliosis. Since both the aforementioned neuropathological features are also variably found in Lewy Body dementias (LBD), we investigated potential perturbations of Fyn expression in the post-mortem neocortex of patients with AD, as well as those diagnosed as having one of the two main subgroups of LBD: Parkinson's disease dementia (PDD) and dementia with Lewy bodies (DLB). We found selective upregulation of FynT expression in AD, PDD, and DLB which also correlated with cognitive impairment. Furthermore, increased FynT expression correlated with hallmark neuropathological lesions, soluble β-amyloid, and phosphorylated tau, as well as markers of microglia and as-trocyte activation. In line with the human post-mortem studies, cortical FynT expression in aged mice transgenic for human P301S tau was upregulated and further correlated with accumulation of aggregated phosphorylated tau as well as with microglial and astrocytic markers. Our findings provide further evi-dence for the involvement of FynT in neurodegenerative dementias, likely via effects on tauopathy and neuroinflammation.
Modulating Myeloid Immune Cell Migration Using Multivalently Presented Monosaccharide Ligands for Advanced Immunotherapy
Authors:   University Hospital Aachen, Pauwelsstraße 30, 52074 Aachen, Germany, Bartneck Matthias , Trautwein Christian , Tacke Frank , Dernedde Jens , Kuntz Sabine , Kandziora Maja , Blas-Garcia Ana , Marti Rodrigo Alberto , Tavernaro Isabella
Published: May 2022

Due to their importance for the outcome of the inﬂammatory response, the motile myeloid cells are a focus of novel treatment options. The interplay of selectins and their ligands with leukocytes and endothelial cells, which mediate endothelial attachment and transmigration of immune cells, can be modulated by selectin-binding structures. Here, a library of selectin-targeting ligands coupled to either gold, silver, iron oxide nanospheres, or quantum dots of 5–10 nm in size is used to systematically study their impact on immune cell motility. The multivalent presentation of the carbohydrate mimetics results in very low sub-nanomolar binding to L-selectin. Using human primary monocytes, granulocytes, lymphocytes, and macrophages, it is shown that the ligands exhibit only minor eﬀects on uptake, whereas the motility of leukocytes is critically aﬀected as observed in migration assays evaluated by ﬂow cytometry. The carbohydrate mimetic ring structure, sulfation, in particular, and the degree of ligand presentation, are constituents which cohere in this process. Speciﬁc carbohydrate ligands can thus selectively regulate leukocyte subsets. These data form the basis for advanced immunotherapy which inhibits the ampliﬁcation of inﬂammation by restricting leukocyte inﬂux to injured tissue sites. Furthermore, the targeting ligands may complement existing treatment options for inﬂammatory diseases.
Post COVID-19 Syndrome- A Long Hauling Journey Ahead
Authors:   Department of Medicine, Gulbarga Institute of Medical Sciences, Gulbarga, India, Asna Rabah Ruqia , Qushnood Farqana , Basalingappa Dodd Gurulingappa
Published: May 2022

Background: COVID -19 pandemic is the most important public health problem of recent time. Tens and thousands of people have suffered with COVID-19 in last one and half year. Most people who have suffered with COVID-19 recover completely within a few weeks but majority of patients continue to have varied symptoms after initial recovery. Objective: To assess the prevalence of Post COVID symptoms, to assess requirement of treatment and to make recommendation for Post COVID syndrome care. Methods: Present cross-sectional study was done among patients who recovered from COVID-19 in GIMS Hospital of Kalaburagi district. Mobile numbers of COVID patients were collected from records. Total 100 randomly selected patients were contacted and information regarding post COVID symptoms in between 6 weeks to 12 weeks after recovery from COVID-19 was collected. Result: 87%patients developed one or more post COVID symptoms. Weakness was reported to be most common problem (55%), followed by body ache (26%) and neuropsychiatric symptoms such as difficulty in concentration and insomnia (22%). Every fifth patient reported that symptoms persisted for more than 1 month. Though most of the respondents classified their symptoms as mild and moderate (52.5% and 37.9% respectively), 47% of the symptomatic patients have to take some treatment for these symptoms. Conclusion: Post COVID symptoms are common but usually less severe. Many of patients required conservative management with medications. Many patients required lot of counselling. Almost one in five patients reported that symptoms persisted for more than one month. The results highlight the need for post COVID care for COVID recovered patients.
Knowledge, Perception and Attitude of Patients at CNHU-HKM of Cotonou About COVID-19
Authors:   University Clinic of Internal Medicine and Medical Oncology of CNHU-HKM, University of Abomey-Calavi (UAC), Cotonou, Benin, Angèle Azon-Kouanou , Kouessi Anthelme Agbodandé , Armand Finagnon Wanvoégbè , Mahoutin Sèmassa Ghisl Missiho , Yves Morel Sokadjo , Adélakoun Ange Géoffroy Faladé , Houénoudé Mickaël Arna Assogba , Binji Lisa Mukwege , Katabana Delphin Murhula , Oba Richard Oba , Eugénie Dansou , Djimon Marcel Zannou , Carnio Simona
Published: May 2022

COVID-19 has been noticed in Benin since March 2020. Various measures have been put in place to curb the epidemic. The objective of the study is to evaluate the knowledge and perception of patients at the CNHU-HKM about COVID-19. This was a cross-sectional study with descriptive and analytical purposes. Data were collected from July 1, 2020 to January 1, 2021. The participants were included in the outpatient clinic of the specialized medical services of the CNHU-HKM. They answered to questions related to their knowledge and perception about COVID-19. Data analysis was done with R 4.1.0 software. A total of 353 respondents were included in the study. The sex ratio was 0.81. The mean age was 48.9±16.8 [10; 92] years. The residence was in urban places for 91.5% of them. The level of education was at least high school in 82.2% of the cases. The agent responsible for COVID-19 and the mode of transmission were not known, respectively, by 31.7% and 89.2% of the participants. Barrier measures were known by 46.2%, while clinical manifestations were known by 89.0%. Only the level of education was associated with knowledge of COVID-19 (p<0.001). Findings revealed that good knowledge of the pandemic was related to the level of education. A readjustment of communication strategies towards less educated groups would be recommended.