Member News

Second Circuit Rules Internal Whistleblowers Are Protected Under Dodd-Frank

The U.S. Court of Appeals for the Second Circuit created a federal appellate split today when it revived a Dodd-Frank Act retaliation claim by an ex-finance director, who was responsible for the company’s financial reporting and compliance with accounting standards. The court held that he was protected even though he only raised claims of accounting fraud internally with his employer, but did not report them to the Securities and Exchange Commission (SEC or the Commission) before he was terminated.  The...

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Member News, New York Related News

Trepp Credit Story: 100% Loss for Times Square Loan

According to September remittance data, the $25.7 million 1604 Broadway note was written off in full this month. The loan made up 0.86% of GECMC 2007-C1, which has now taken 8% in cumulative bond loss. The loan was backed by a 29,875 square-foot retail property located in the theater district of Times Square. The note was initially transferred to special servicing in November 2009 after losing its top tenant, Spotlight Times Square, to bankruptcy. The loan defaulted a month later and failed to refinance when it...

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Chapter News

EU extends the validity of sanctions over actions against Ukraine’s territorial integrity

The Council prolonged by 6 months the application of EU restrictive measures targeting actions against Ukraine's territorial integrity, sovereignty and independence.   The asset freeze and travel bans against 149 persons and 37 entities have been extended until 15 March 2016. The assessment of the situation did not justify a change in the regime of sanctions nor in the list of persons and entities under restrictive measures. One deceased person was removed from the list. The legal acts are available in the EU...

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Chapter News, New York Related News

Governor Cuomo Announces $388 Million In Funding For Critical Coastal Resiliency And Sewer Expansion Project In Suffolk County

Governor Andrew M. Cuomo today announced $388 million in State and federal funding to expand sanitary sewer service to 8,075 parcels of land in Suffolk County which currently utilize on-site septic systems. This project, which has been approved the Federal Emergency Management Agency's Hazard Mitigation Grant Program, represents the first step in instituting extensive measures to mitigate flooding and septic system failure in Suffolk County caused by Superstorm Sandy. “Long Islanders have seen first-hand and up-close the damage that Mother...

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Chapter News

Remarks by J. Dijsselbloem following the Eurogroup meeting of 12 September 2015

Good afternoon and welcome to this press conference. We briefly discussed the economic situation in the Eurozone, I will let Commissioner Moscovici say more about that. We had a follow-up discussion on the issue of structural reforms, in particular on the tax wedge on labour, which is becoming a test case for us on how we can strengthen our cooperation in the field of structural reforms, how can we push the reform agenda jointly in the Eurozone. Today we discussed...

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Chapter News

Eurogroup statement on Cyprus

The Eurogroup welcomes the successful conclusion of the seventh review mission in the context of Cyprus' macroeconomic adjustment programme, which took place in July. The fiscal developments continue to exceed expectations, the financial situation of the banks is showing signs of gradual improvement and some progress has been noted on important growth-enhancing reforms. The Eurogroup is encouraged that the economic recovery in Cyprus is gaining strength, the labour market showing signs of stabilization, although unemployment remains at a high...

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Member News

TREPP Analysis: CMBS Volume Remains Elevated

After an off-season dominated by accusations, suspensions, name-calling, and courtroom drama, the NFL finally gave football fans what they wanted when the Patriots hosted the Steelers on opening night. The game was not without something for the conspiracy theorists: Steelers coach Mike Tomlin complained that the Pats' radio broadcast was coming through his headset throughout the first half. After an off-month low-lighted by a spike in volatility, sizable stock market losses, hand-wringing, and teeth-gnashing, the financial markets finally gave investors...

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Chapter News

Capital Markets Union: Vital for Growth

European Commission - Speech by Jonathan Hill Commissioner for financial stability, financial services and capital markets union] - Luxembourg, 10 September 2015 It's good to be back at Eurofi and to have the chance to talk about the contribution that I believe stronger and deeper capital markets will make to jobs and growth. First, some of the broader context. Amidst the challenges we face – the situation in Greece, market turbulence in China, the refugee crisis that confronts Europe – it...

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Member News

Important Changes to Greencard Process – U.S. Department of State’s Visa Bulletin

On September 9, 2015, the U.S. Department of State (DOS) and United States Citizenship and Immigration Services announced important changes impacting certain individuals in the permanent residence (“green card”) process. This change will allow some individuals to file the last step of the green card process, the application for adjustment of status, even if their priority date is not current. The DOS has been moving steadily towards reforming its process for calculating immigrant visa (“green card”) availability. In July 2015,...

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Chapter News

IMF Executive Board Concludes 2015 Article IV Consultation with Norway

On September 4, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Norway. The Norwegian economy performed well in 2014 despite the sharp fall in oil prices toward the end of the year. Mainland (i.e. non-oil) GDP grew at 2.2 percent, with weaker investment demand being offset by stronger government consumption. Unemployment stayed at a low level in 2014, but has recently edged up to 4.5 percent in June according to the labor...

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