26 Aug
Chapter News

U.S. Federal Bank Regulatory Agencies Issue Three Final Rules

Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency The federal bank regulatory agencies today finalized three rules, which are either identical or substantially similar to interim final rules currently in effect that were issued earlier this year. They include: A final rule that temporarily modifies the community bank leverage ratio, as required by the CARES Act; A final rule that makes more gradual, as intended, the automatic restrictions on distributions if...

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26 Aug
Member News

Marks Paneth | CARES ACT – Tax Update: RMD Rollbacks Must Be Completed by August 31, 2020

The CARES Act enabled any taxpayer with a Required Minimum Distribution (RMD) due in 2020 from a defined-contribution retirement plan, including a 401(k) or 403(b) plan, or an IRA, to skip those RMDs this year. This includes anyone who turned age 70 1/2 in 2019 and would have had to take the first RMD by April 1, 2020. This waiver does not apply to defined-benefit plans. The IRS allows anyone who already took an RMD in 2020 from these...

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25 Aug
Member News

AlixPartners | 5 Considerations For Enhancing SEC Disclosures Amid Crisis

Previously published on Law360 | The continuing economic and stock market tumult is prompting new behaviors from companies and regulatory bodies alike. As second-quarter earnings season wraps up, public companies have new guidelines from the U.S. Securities and Exchange Commission around how much information to disclose to stakeholders in their quarterly and annual forward-looking statements. Through these new guidelines, the SEC, by its own admission, has taken on a larger role in trying to use the power of disclosure to support broad economic...

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25 Aug
Member News

Solidus Capital | New Book on “Early Stage Valuation: A Fair Value Perspective”

In June, Wiley published “Early Stage Valuation: A Fair Value Perspective.” The book, authored by Antonella Puca, provides accurate, up-to-date information on recent guidelines and new approaches for valuation assessments. Andreas Dal Santo is co-author of “Chapter 4: Seed Stage Valuation and the Venture Capital Method”. The book also includes contributions from Neil Beaton, Alexander Davie, John Jackman, and Mark Zyla. This authoritative guide examines how to apply market analysis, discounted cash flow models, statistical techniques such as option pricing...

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25 Aug
Chapter News

U.S. Federal Reserve highlights research and experimentation undertaken to enhance its understanding of the opportunities and risks associated with central bank digital currencies

The Federal Reserve on Thursday, August 13 highlighted the research and experimentation undertaken to enhance its understanding of the opportunities and risks associated with central bank digital currencies. The initiatives complement a broad set of payments-related innovation projects currently underway within the Federal Reserve System. "Given the dollar's important role, it is essential that the Federal Reserve remain on the frontier of research and policy development regarding central bank digital currencies," said Federal Reserve Board Governor Lael Brainard. "Like other...

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25 Aug
Chapter News

Rules of origin: EU to enhance preferential trade with Pan-Euro-Mediterranean (PEM) countries

The European Commission has adopted today a package of proposals that aims to increase trade between the European Union and neighbouring countries in the Pan-Euro-Mediterranean (PEM) region, thereby contributing to the economic recovery following the coronavirus outbreak. Today's proposals will modernise the EU's preferential trade agreements with 20 PEM trading partners by making the relevant ‘rules of origin' in those agreements more flexible and business-friendly. These proposals amend the EU's bilateral agreements with the following countries: Iceland, Liechtenstein, Norway, Switzerland,...

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24 Aug
Chapter News, COVID-19 News

Coronavirus: EU Commission proposes to provide €81.4 billion in financial support for 15 Member States under SURE

The European Commission has presented proposals to the Council for decisions to grant financial support of €81.4 billion to 15 Member States under the SURE instrument. SURE is a crucial element of the EU's comprehensive strategy to protect citizens and mitigate the severely negative socio-economic consequences of the coronavirus pandemic. It is one of the three safety nets agreed by the European Council to shield workers, businesses and countries. Once the Council approves these proposals, the financial support will be...

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24 Aug
Member News

Thompson Hine | Uncharted Territory: COVID-19 Travel and School Challenges Facing Employers

Employers have faced no shortage of challenges during 2020, and as we near the end of summer, new ones are on the horizon. Employees and their families seeking a change of scenery are traveling again, sometimes to COVID-19 hot spots, and when they come home, their return to the workplace has employers justifiably concerned. At the same time, employees with school-aged children have unique concerns of their own, including uncertainty over whether, when and where their children will begin...

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24 Aug
Member News

Faegre Drinker | New Executive Order Directs Federal Agencies to Buy U.S.-Made Medicines, Medical Countermeasures and Inputs

On August 6, 2020, President Trump signed an Executive Order (EO) that directs certain federal agencies to prioritize purchasing certain essential medicines, medical countermeasures and critical inputs that are made in the United States. The EO applies to all federal agencies and departments involved in the procurement of such goods. After last week’s EO restricting the ability of government contractors to employ foreign nationals, this is the latest in a series of EOs promoting the administration’s Buy American, Hire American agenda....

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24 Aug
Chapter News

The crisis and Europe’s responsibilities

Blog post by EU High Representative Josep Borrell | Last Monday I opened the Summer University of the Universidad Internacional Menendez Palacio in Santander (Spain). We mostly discussed the consequences of the current crisis for Europe and the world. At this stage, the risk seems serious that it destabilises many developing countries and strengthens a trend towards authoritarian regimes. In this context, Europe has a key responsibility to defend effective multilateralism and help developing countries in need. "The actual crisis risks...

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