Stefanie Verheyden’s Post

Last December, the European Commission announced the adoption of new rules of origin between the EU and neighbouring PEM countries by the Pan-Euro-Mediterranean (PEM) Joint Committee. With the EU trading over €700 billion with these countries in 2022, this development holds tremendous importance for businesses operating in the region. Key points of the modernization effort include: 🔔Simplified product-specific rules 🔔Increased tolerance rule 🔔Full cumulation 🔔Possibility of Duty drawback 🔔A commitment to develop a system for electronic certificates of origin If you are asking yourself these questions: "How can I fine-tune my flows and guarantee compliance while claiming full preference if my supply chain is in the PEM region?" or "What steps are necessary to establish and prepare for these changes in origin management?" Portorium Solutions is your answer! Our expertise can navigate you through the complexities, ensuring compliance and accurate preference calculation or proof issuance, with the aid of origin management automation tools for optimal efficiency. Curious to learn more? Connect with our experts directly or send a DM to Portorium Solutions. Let's explore how we can support your journey! #OriginManagement #TradeCompliance #PEMConvention 👉 Link to blog:

New on Best Execution: Yesterday, the European Securities and Markets Authority (ESMA) held a workshop on the potential for a #consolidatedtape in Europe – with participation from multiple industry stakeholders on where they hope to see the project go over the coming years – while a new industry consultation is expected to launch in May. BEST EXECUTION outlines the #MiFIR proposals to date, and the expected future timeline for a tape.  #markets #trading #data #marketdata #technology #regulation #finreg #europe #CTP EuroCTP Eglantine Desautel Adamantia

Capital Market and Securities Laws SEBI Update : Industry Standards on verification of market rumours (May 21, 2024) In order to facilitate ease of doing business, the Industry Standards Forum (“ISF”) comprising of representatives from three industry associations, viz. ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges, on a pilot basis, has formulated industry standards, in consultation with SEBI, for effective implementation of the requirement to verify market rumours under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). It is provided that the industry associations which are part of ISF (ASSOCHAM, FICCI, and CII) and the stock exchanges shall publish the industry standards note on their websites and listed entities are required to follow the aforesaid industry standards to ensure compliance with Regulation 30(11) of LODR Regulations. The requirement to verify market rumours under Regulation 30(11) of LODR Regulations is applicable to top 100 listed entities with effect from June 01, 2024 and to top 250 listed entities (i.e., next top 150) with effect from December 01, 2024 as specified by SEBI circular dated January 25, 2024. For details : https://lnkd.in/gZcaK6B7

Capital Market and Securities Laws SEBI Update : Industry Standards on verification of market rumours (May 21, 2024) In order to facilitate ease of doing business, the Industry Standards Forum (“ISF”) comprising of representatives from three industry associations, viz. ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges, on a pilot basis, has formulated industry standards, in consultation with SEBI, for effective implementation of the requirement to verify market rumours under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). It is provided that the industry associations which are part of ISF (ASSOCHAM, FICCI, and CII) and the stock exchanges shall publish the industry standards note on their websites and listed entities are required to follow the aforesaid industry standards to ensure compliance with Regulation 30(11) of LODR Regulations. The requirement to verify market rumours under Regulation 30(11) of LODR Regulations is applicable to top 100 listed entities with effect from June 01, 2024 and to top 250 listed entities (i.e., next top 150) with effect from December 01, 2024 as specified by SEBI circular dated January 25, 2024. For details : https://lnkd.in/gZcaK6B7

📃 The UK's Electronic Trade Documents Act 2023 (ETDA) allows digital documents to have the same legal status as paper-based ones, leading to more effective supply chain finance solutions. 💼 Although many businesses may have overlooked this development, it holds significant relevance for all companies - big or small - that are involved in domestic or international trade. Read more about how digitalizing negotiable documents enables funding, cost savings, and improves buyer-supplier relationships ➡️https://lnkd.in/eex5UaMj #ETDA #InternationalTrade #SupplyChainFinance #FITT #ElectronicTradeDocuments

New on Best Execution: It might seem like it’s dragged on for years, but progress is gradually being made – if slowly. Yesterday, the European Securities and Markets Authority (ESMA) held a workshop on the potential for a #consolidatedtape in Europe – with participation from multiple industry stakeholders on where they hope to see the project go over the coming years – while a new industry consultation is expected to launch in May. BEST EXECUTION outlines the #MiFIR proposals to date, and the expected future timeline for a tape. #markets #trading #data #marketdata #technology #regulation #finreg #europe #CTP EuroCTP Eglantine Desautel Adamantia

How can we speed up the adoption of digital trade documents? After years of efforts by the trade participants, tech providers, early adopters, support from the Digital Standard Initiative, the Legal Entity Identifier system, and legislative reforms across countries to implement the Model Laws on Electronic Transferable Records there are now signs of tangible progress being made when it comes to electronic bills of lading (eBLs) and other trade documents being exchanged in digital format. In this fascinating insight from our C4DTI Digital Trade Conference bronze sponsor, XDC Trade Network, we learned that business intelligence plays a significant role in the authentication of data which ultimately provides the required checks in this whole transaction. This feature-enriched and modernised solution is live and undergoing pilots between various corridors. Sunil Senapati, Chief Executive Officer, XDC Trade Network comments, “At XDC we presented Trade Finance as a new instrument to the top institutional investors, fund houses, and family offices and the response was very encouraging. These set of alternative investors are very keen to address the Trade Finance gap that our industry has been facing for a long time.” Read the article below! International Chamber of Commerce ICC United Kingdom CBI (Confederation of British Industry) British Chambers of Commerce World Trade Organization TMI - Treasury Management International EBRD Make UK Federation of Small Businesses (FSB) Trade Finance Global (TFG) Global Trade Review (GTR) BCR Publishing ITFA BIMCO Tees Global UK LIBF Global Legal Entity Identifier Foundation (GLEIF) #C4DTIConf #C4DTI #C4DTIAwards #internationaltrade #digitaltrade #uncitral #mletr #paperlesstrade #tradefinance #logistics #supplychain #reliablesystem #ETDA #transparency #traceability #tradetech #fintech #dlt #SayNoToPaper #DataNotPaper #digitalisation

What is digital chain of custody? Discover its potential to transform global trade. #globaltrade #circulareconomy #digitaltransformation https://lnkd.in/d_hCvgrk

Great article by Aneel Sabir discussing the future of paper in trade! Digitizing paper in trade will reduce processing time and cost across the board while reducing or even eliminating errors. #globaltrade #tradeservices #lettersofcredit