Chapter News, News

Secretary Kerry in Brussels: EU-U.S. Reaffirm Rock-Solid Relationship

European Commission President José Manuel Barroso and European Council President Herman Van Rompuy met with U.S. Secretary of State John Kerry in Brussels. Describing the EU-U.S. relationship as "rock solid," President Barroso said their discussion centered on Syria, climate change, improving the economy and the "very promising Transatlantic Trade and Investment Agreement, and how we can make this move forward." President Barroso noted, "I believe we can get a mandate from our Member States before summer, that we can keep...

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Member News, News

Customs Broker Assessed $8 Million in Damages for Trademark Infringement

A jury awarded $8 million dollars in damages against a Customs Broker found to have engaged in a conspiracy to import fake Coach® handbags and wallets in the case of Coach v. Celco Customs Services and Celine Wang, Ct. No. 11-cv-10787 (Central District of California). On June 24, 2009, CBP seized a shipment of “catalogs” which actually contained 22,040 handbags and 10,300 wallets. Entry was attempted utilizing a fraudulent Power of Attorney (“POA”) allegedly issued by a biochemical company. Coach...

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Member News, News

Reminder: Late Shipment Clauses

The United States Court of International Trade recently denied a request to deduct certain freight charges that the importer argued were included in the transaction value of the goods as a result of the vendors’ late shipment. In Cutter & Buck, Inc. v. United States, Slip Op. 13-45 (April 3, 2013), the court primarily found that because the terms of the purchase order did not specifically provide for a change in negotiated price and a change in the terms of...

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Member News, News

Updated UCITS Notices, Guidance Notes and Application Forms

On 15 February 2013, the Central Bank of Ireland (the “Central Bank”) published updated versions of its UCITS (undertakings for collective investment in transferable securities) Notices and Guidance Notes. The updated documents were produced to reflect the European Securities Markets Authority’s (ESMA) Guidelines on ETFs (exchange traded funds) and other UCITS issues (the “ESMA Guidelines”) as issued on 18 December 2012 and effective from 18 February 2013. The Central Bank’s Application Forms will also be amended to reflect the ESMA...

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Member News, News

Central Bank Online Reporting System Update

The Central Bank of Ireland’s (the “Central Bank”) Online Reporting System (“ONR System”) is now fully operational and Regulatory Returns (the “Returns”) for Irish authorised collective investment schemes (“CIS”) are now to be filed through it. This follows the issuance in May 2012 of Consultation Paper 59, which outlined proposed changes to the regulatory reporting requirements of CIS. Subsequently, the Central Bank issued a letter to the Board of Directors of CIS in relation to the appointment of a System Administrator...

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Member News, News

Q4 Irish Fund Statistics Show Further Growth

On 8 March 2013, the Central Bank of Ireland issued statistics for Q4 2012 on investment funds resident in Ireland. The total number of shares or units in issue by the end of Q4 2012 increased by 4.4% to €932 billion. This increase was due to revaluations of €11.5 billion and net new subscriptions of €28 billion. Irish investment funds were recorded as holding €171 billion sovereign bonds and €253.4 billion of corporate bonds at the end of Q4. There was...

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Chapter News, News

President Barroso calls for a global approach against tax evasion and fraud at UN Meeting

Speaking at the UN General Assembly High Level Debate on Global Economic Governance today, European Commission President José Manuel Barroso said that tax evasion costs the European Union 1 trillion euros every year and "the global bill is much higher. That is money that should be available to spend on education, skills, healthcare, and infrastructure investment in both developed and developing countries."  President Barroso stressed that the EU is taking common action on exchange of information, on tax havens and...

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Chapter News, News

European Commission President Jose Barroso speaks to EACC Audience about U.S. & Europe trade relations

Trade talks between the European Union and the U.S. won’t undermine essential protections for health and the environment, European Commission President Jose Barroso said an event today here in New York that was co-organised by the EACCNY and Bloomberg LP. The negotiations, which Barroso said will start before this summer, will target “unnecessary costs” created by differing regulations, as well as conventional trade barriers such as tariffs and quotas. “We, on both sides, will not compromise on our high levels...

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Chapter News, News

Croatia Makes 28

Croatia: Last Monitoring Report Concludes Country will be Ready to Join the EU The European Commission adopted its last Monitoring Report on Croatia’s preparations for joining the EU. The Commission assesses that Croatia has completed the ten priority actions identified in the previous report in October, and has shown the will and ability to fulfill all outstanding commitments in good time before accession. The Commission concludes that Croatia will be ready to join the European Union on 1 July 2013. “This...

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Chapter News, News

EU Calling All Girls to ICT Careers

  “Girls in ICT Day” is an annual event—marked on April 25 this year—that focuses on the need to increase the number of women employed in the Information and Communications Technology (ICT) sector. Currently, women hold just 30 percent of ICT jobs. By marking this day, the co-organizers—the European Commission, the European Parliament, and the International Telecommunications Union—aim to empower and encourage girls and young women to consider careers in ICT. Stakeholders are encouraged to organize activities that help raise visibility...

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