20 Nov
Chapter News, News

Increases in Dollar Thresholds For Exempt Consumer Credit and Lease Transactions

The Federal Reserve Board (Board) and the Consumer Financial Protection Bureau (CFPB) today announced increases in the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for exempt consumer credit and lease transactions. These increases are consistent with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amendments to the Truth in Lending Act and the Consumer Leasing Act to adjust these thresholds annually by the annual percentage increase in the Consumer Price...

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20 Nov
Chapter News, News

FSOC Recommends and Seeks Comment on Money Market Mutual Fund

On November 13, the Financial Stability Oversight Council (FSOC) voted unanimously to advance its report entitled "Proposed Recommendations Regarding Money Market Mutual Fund Reform." FSOC was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to identify risks to the financial stability of the United States, to promote market discipline, and to respond to emerging risks to the stability of the United States' financial system. To read more click here. For further resources on the Dodd-Frank Act,...

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14 Nov
Chapter News, News

Deutsche Bundesbank’s Financial Stability Review 2012

Financial stability in 2012 – an overview The risks to the German financial system remain high. The European sovereign debt crisis is still largely dictating the risk situation, having broadened in the course of 2012 and come to a head at various points in the year. On several occasions, doubts were even cast over the long-term survival of European monetary union. Spain and Italy – two major economies – have increasingly been drawn into the crisis. Crisis management measures have...

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13 Nov
Chapter News, New York Related News, News

Bloomberg signed an emergency order to alternate the days during which drivers may purchase gasoline

THE CITY OF NEW YORK OFFICE OF THE MAYOR To reduce wait times and lines at gas stations throughout New York City, Mayor Michael R. Bloomberg today signed an emergency order to alternate the days during which drivers may purchase gasoline.  All diplomatic and consular vehicles are subject to this order, which establishes the following: ·    On even number days, vehicles with license plates ending in an even number or the number “0” can purchase motor fuel. ·    On odd number days, vehicles with either: (1)...

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08 Nov
Member News, News

CMS Hasche Sigle advises Telefónica Deutschland on the largest IPO in Germany within the last five years

EACCNY member CMS Hasche Sigle is happy to inform that the CMS cross border team advised Telefónica Deutschland in all legal matters relating to the largest IPO in Germany within the last five years. The shares have been traded on the Frankfurt stock exchange since 30 October 2012. Upon full exercise of the greenshoe-option, the gross issue proceeds would amount to EUR 1.45 billion. For further information, please see this press release.

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08 Nov
Chapter News, News, Uncategorized

G20 leaders must step up efforts to resist protectionism

  The OECD, WTO and UNCTAD have called on G20 governments to step up efforts to resist protectionism in the face of continuing high unemployment and a weak economic recovery.   In their eighth report to the G20, the organisations say that strengthened multilateral co-operation is needed and urge countries to show leadership in keeping markets open.   Readings: Read the News release. Read the Report. Read the Freedom of investment at the OECD.

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08 Nov
Member News, News, Uncategorized

French minister Fleur Pellerin launches the “Say OUI to France” campaign

In October, 2012, at the Massachusetts Institute of Technology, Ms. Fleur Pellerin, the French Minister Delegate with responsibility for SMEs, Innovation and the Digital Economy, held an early breakfast meeting with theUStechnology press to mark the launch of the joint INPI/IFA "Say OUI to France – Say OUI to innovation" campaign. The meeting was held on the fringes of EmTech, a major international trade show on emerging technologies organized by the MIT TechnologyReview. This is the signature to the new...

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08 Nov
Member News, News

Gift Tax Exemption Will Not Likely Be Extended.

In response to the results of the 2012 election, John O. McManus - top AV-rated tax and estate planning attorney and founding principal of Tri-State-Area-based McManus & Associates - released the following guide to changes in tax rates and exemptions, as well as a statement below: 2012 and 2013 Tax Rates and Exemptions                                                                                                               2012                 2013 Estate Tax Rate                                                                                 35%                   55% Estate Tax Exemption                                                                        $5.12MM          $1MM Gift Tax Rate                                                                                      35%                   55% Gift Tax Exemption                                                                             $5.12MM          $1MM Generation Skipping Transfer...

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08 Nov
Member News, News

Laurent Schummer, Corporate Partner, joins Arendt & Medernach

Arendt & Medernach, the leading independent business law firm inLuxembourg, is pleased to announce the arrival of Laurent Schummer at the firm. Laurent Schummer specialises in corporate law, mergers and acquisitions, joint ventures and the structuring of private equity funds. Laurent, who was admitted to the Luxembourg Bar in 1998, has spent most of his career in the Corporate department of a large international law firm inLuxembourg. He holds a law degree (Licence en droit) from the Catholic University of...

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07 Nov
Member News, News

CFPB Small Business Panels: What a Change in ‘Size Standards’ Could Mean

The Dodd-Frank Consumer Financial Protection Act gave the new Consumer Financial Protection Bureau (CFPB) the honor of being one of only three agencies subject to a statute that is aimed at providing extra protection for small businesses. This little-known law, the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA), requires covered agencies - the Environmental Protection Agency (EPA), the Occupational Safety and Health Administration (OSHA), and now the CFPB as well - to convene a special panel whenever one...

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