30 Nov
Member News

Galileo Global Advisors | The FTX Collapse: Why Did Due Diligence, Regulation, and Governance Evaporate?

This blog post was originally published in Columbia Law School Blue Sky Blog | FTX is a Bahamas-based cryptocurrency exchange founded in 2019 that, at its peak in 2021, had over 1 million users, making it the world’s third largest crypto exchange by volume. Since November 11, 2022, though, FTX has been in bankruptcy, having borrowed extensively and used the assets of its clients in a likely and spectacular fraud. Why did the capital-markets system fail to provide the checks and...

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30 Nov
Chapter News

ECB | Bitcoin’s last stand

Amid the widespread fallout in crypto markets following the collapse of a major crypto exchange, The ECB Blog takes a look at where we stand with Bitcoin. The value of bitcoin peaked at USD 69,000 in November 2021 before falling to USD 17,000 by mid-June 2022. Since then, the value has fluctuated around USD 20,000. For bitcoin proponents, the seeming stabilization signals a breather on the way to new heights. More likely, however, it is an artificially induced last gasp...

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29 Nov
Member News

Global Taxes LLC | IRS Promises More Enforcement of Foreign Nationals in U.S.

Foreign nationals living and working in the U.S. may soon be in the crosshairs of a re-energized Internal Revenue Service. A representative of the IRS Office of Chief Counsel reportedly told an audience at a recent American Bar Association Tax Section conference that compliance among foreign nationals in the U.S. will be a priority and focus of the IRS. This comes on the heels of the tax agency getting some $80 billion from the landmark U.S. Inflation Reduction Act signed into...

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29 Nov
Chapter News, Trade & TTIP Related

Speech by Executive Vice-President Valdis Dombrovskis at the Trade FAC meeting

"Check against delivery" Thank you very much and thank you, Minister Sikela, for your excellent chairmanship and for the strong work of Czech Presidency. Even though if I know your work on the trade track may be over, you continue to work very intensively on energy track. Our discussions today focussed on three core issues for EU trade policy: World Trade Organisation reform, EU-US trade relations and our ongoing trade support to Ukraine. The EU is the strongest global champion of a...

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29 Nov
Member News

GT Law | December 2022 Visa Bulletin – Worldwide Cut-Offs for EB-2 Category

The U.S. Department of State (DOS) has published the December 2022 bulletin which reflects an increased demand across multiple categories. As warned in last month’s bulletin, the December bulletin implements a world-wide cut-off for the EB-2 category. DOS also warns in its December bulletin that due to increased demand and number use in the EB-1 category, combined with decreased visa number availability for FY-2023 in comparison to FY-2022, we may see the establishment of final action date and application date...

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28 Nov
Member News

Vulcan Insight | What to expect from the upcoming EU Circular Economy Package

Speaking at the Circular Economy Stakeholder Conference earlier this year, Commissioner Timmermans, the lead Commissioner on the EU Green Deal, explained how half of total greenhouse gas emissions come from resource extraction and processing and “more than 90% of biodiversity loss and water stress comes from resource extraction and processing”. These statistics demonstrate just how important it is that the necessary legislation is put in place to ensure the products we use and the way we use them support, rather...

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28 Nov
Chapter News

IMF | Bridging Data Gaps Can Help Tackle the Climate Crisis

A new data gaps initiative will play an important role in addressing climate-related data deficit A famous physicist once said: “When you can measure what you are speaking about, and express it in numbers, you know something about it”. Nearly 140 years later, this maxim remains true and is particularly poignant for policymakers tasked with addressing climate mitigation and adaptation. That’s because they face major information gaps that impede their ability to understand the impact of policies—from measures to incentivize cuts...

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28 Nov
Chapter News

OECD releases new mutual agreement procedure statistics and country awards on the resolution of international tax disputes

22/11/2022 – The OECD releases today the latest mutual agreement procedure (MAP) statistics covering 127 jurisdictions and practically all MAP cases worldwide. These statistics form part of the BEPS Action 14 Minimum Standard and the wider G20/OECD tax certainty agenda to improve the effectiveness and timeliness of tax-related dispute resolution mechanisms. The 2021 MAP Statistics* show the following trends: Significantly more MAP cases were closed in 2021. Approximately 13% more MAP cases were closed in 2021 than in 2020, with both...

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28 Nov
Chapter News

ECB | Inflation Diagnostics

Blog post by Philip R. Lane, Member of the Executive Board of the ECB | Identifying the medium-term inflation path in the current environment of high inflation, ongoing energy and pandemic-related shocks and the Russian invasion of Ukraine is a diagnostic challenge. In his ECB Blog post Philip R. Lane, Member of the ECB’s Executive Board, describes some of the key analytical issues involved. Summary This blog post describes the diagnostic challenges in identifying the medium-term inflation path in the current environment...

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28 Nov
Member News

Arendt | AML V & register of beneficial owners: a public access feature found to be invalid by the CJEU

On 22 November 2022, the European Court of Justice ruled that the “public access” feature of the Luxembourg register of beneficial owners would be invalid in view of the Charter of Fundamental Rights of the European Union and more specifically the fact that it would constitute a serious interference with the fundamental rights to private life and to the protection of personal data. We wish to inform you that on 22 November 2022 the European Court of Justice (“CJEU”) ruled...

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