On February 3, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert that summarizes the OCIE’s observations from its recent examinations of registered broker-dealers and investment advisers. The observations were conducted under the OCIE Cybersecurity Examination Initiative, which was announced on April 15, 2014. In 2014, the OCIE examined 57 registered broker-dealers and 49 registered investment advisers to better understand how broker-dealers and advisers address the legal, regulatory and compliance issues associated...

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EACC New York Member Dillon Eustace has been approved by the Cayman Islands Stock Exchange (“CSX”) to act as a Listing Agent, expanding our service offering to clients. Dillon Eustace already provides listing services to funds and specialist securities listed on the Irish Stock Exchange. The new service will leverage off the listing expertise of both the Cayman and Irish listing teams and will offer clients a choice of listing jurisdictions and proactive service tailored to their requirements. The CSX Being a...

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Can an otherwise unprotected database be protected through contract law? On 15 January 2015, the Court of Justice of the European Union (CJEU) held it can. The CJEU handed down this important ruling in proceedings between Irish airline company Ryanair and PR Aviation, a Dutch company that operates a website on which consumers can search through the flight data of low-cost air companies, compare prices and, on payment of commission, book a flight. This website obtains the necessary data to...

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Interview with Dr Heike Wagner, a partner at the law firm CMS HascheSigle in Frankfurt, Germany a EACCNY Member. By Tobias Anslinger of Markt und Mittelstand: Das Wachstumsmagazin Many German Mittelstand companies are reluctant to enter the US market. We interviewed Heike Wagner, Partner at CMS Hasche Sigle, who explained how the TTIP might change this. Markt und Mittelstand (MuM):The USA is currently enjoying an economic boom and is an attractive market. So why are many Mittelstand companies still reluctant to invest...

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On February 3, 2015, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) each released publications addressing cybersecurity issues. The SEC's Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert, "Cybersecurity Examination Sweep Summary," reporting observations and summary data collected during its 2014 "sweep" examinations of 57 registered broker-dealers and 49 registered investment advisers pursuant to the Cybersecurity Exam Initiative. OCIE collected and analyzed information about how broker-dealers and investment advisers identified and...

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AlixPartners, a member of the EACCNY, is pleased to announce the promotion of fourteen people to Managing Director. Please join us in congratulating these individuals on their well-deserved promotions and wishing them continued success in their career with AlixPartners. To learn more about any of these individuals, click their photos to read their bios.  New York promotions:       Thomas J. Clarke Enterprise Improvement Deborah Rieger-Paganis Turnaround & Restructuring Services Thomas Studebaker Turnaround & Restructuring Services Additional people who received promotions can be found here. AlixPartners is a leading global business advisory...

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The percentage of loans paying off on their balloon date rebounded in January after a sharp drop in December. The latest reading is about 25 points higher than the December rate of 49.6%, which was the lowest reading since July 2012. The January rate was 71.9% which is above the 12-month moving average of 66.1%. (This number sums the averages of each month and divides by 12--there was no balance weighting across the months.) The highest rate in the...

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