04 May
Member News

H&K: Federal Departments Jointly Extend Employee Benefit Timeframes for COVID-19 Outbreak

May 1, 2020 | • The U.S. Department of Labor and the U.S. Department of the Treasury Department, in consultation with the U.S. Department of Health and Human Services issued new final rules that, effective March 1, 2020, extend various timeframes applicable to employee benefit plans (Final Rules). • A stated purpose of the Final Rules, issued on April 29, 2020, is to minimize the possibility of individuals losing benefits because of a failure to comply with an applicable timeframe. • The...

Read more

01 May
Chapter News

EACCNY #COVID19 Impact Stories from Our Members – FlenHealth

Together with our members we are creating a Video series of first-hand accounts of the Pandemic's impact, both personally & professionally.   We invite you to join us today for a first-hand look at the impact of the global shutdown following the Coronavirus (COVID-19) outbreak - Today we are featuring Philippe Sollie, CEO, @FlenHealth a EACCNY member. The questions we asked our members for this series are: 1) What are some challenges you, personally and your organization have faced? 2) What are...

Read more

01 May
Chapter News

Federal Reserve expands access to its Paycheck Protection Program Liquidity Facility (PPPLF) to additional lenders, and expands the collateral that can be pledged

April 30, 2020 | The Federal Reserve on Thursday expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to additional lenders, and expanded the collateral that can be pledged. The changes will facilitate lending to small businesses via the Small Business Administration's (SBA) Paycheck Protection Program (PPP). As a result of the changes, all PPP lenders approved by the SBA, including non-depository institution lenders, are now eligible to participate in the PPPLF. SBA-qualified PPP lenders include banks, credit unions, Community...

Read more

01 May
Member News

MarksPaneth: IRS Announces Expenses Paid with Forgiven PPP Funds are not Deductible

May 1, 2020 | On  April 30, 2020, the IRS Released Notice 2020-32 which provides guidance on the deductibility of expenses paid with Paycheck Protection Program (PPP) loan proceeds that are partially or completely forgiven and excluded from a taxpayer’s income. Specifically, the IRS has determined that otherwise deductible expenses that are paid with PPP funds and forgiven may not be deducted for federal income tax purposes.  Under the PPP provisions of the CARES Act, borrowers who pay certain covered expenses (payroll costs,...

Read more

01 May
Member News

Vulcan Insight: EU, EEA and UK Economic Measures to Combat COVID-19

May 1, 2020 | UPDATED May 15, 2020 With almost 600,000 Europeans infected with COVID-19, entire economies under lockdown, and borders in the EU’s coveted passport-free Schengen Area closed since mid-March, leaders in the EU institutions and national governments have spent the past months in crisis mode to mitigate the socio-economic impacts of the crisis. Within just a few weeks, the need to effectively and forcefully respond to the seemingly ever-escalating crisis has led to political leaders, across the continent, putting...

Read more

01 May
Member News

Andersen: COVID-19 – The Impact on Individuals Who Are Global Taxpayers

• COVID-19 has left visitors to other countries indefinitely stranded and potentially subject to another nation’s taxes. • Most countries determine the tax residence status of visitors based on the number of days spent in the country. • The U.S. issued guidance offering relief to visitors who must extend their stay in the country as a result of travel disruptions caused by the COVID-19 pandemic. • While some countries have issued guidance addressing the COVID-19 pandemic’s impact on tax residency determinations, several...

Read more

01 May
Chapter News

ESMA publishes annual bond transparency calculations, systematic internalisers calculations and new bond liquidity data

April 30, 2020 | The European Securities and Markets Authority, the EU’s securities markets regulator, has today made available, under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR): • The annual transparency calculations of the large in scale (LIS) and size specific to the instruments (SSTI) thresholds for bonds; • systematic internaliser calculations for equity, equity-like instruments and bonds; and • new data for bonds subject to the pre- and post-trade requirements of MiFID II and MiFIR. Annual transparency calculations of...

Read more

01 May
Chapter News

The post-Coronavirus world is here already…

A health crisis at the outset, the coronavirus pandemic soon turned into an unprecedented economic and social crisis. In an article published with several European think tanks, I sketch how COVID-19 could magnify three global developments. "The COVID-19 Crises challenges the current form of globalisation and is a political test for the EU and Europe's democratic systems," - Josep Borrell The main takeaways of the article are: • The pandemic will likely magnify existing geopolitical dynamics and test the strength of Europe’s...

Read more

30 Apr
Member News

GOP: COVID-19, Italian Prime Minister Decree dated 26 April 2020

April 30, 2020 | The start of phase 2 As the contagion rate and death toll caused by the Covid-19 emergency (“Covid-19”) continues to decrease, on 26 April 2020 the Prime Minister announced in a press conference the measures adopted to ease the lockdown during the so-called “phase 2”. The new measures are reflected in the Prime Minister Decree dated 26 April 20201 (the “26 April 2020 Decree”). During the press conference, the Prime Minister explained that the reopening and resumption of...

Read more

30 Apr
Chapter News

ECB announces new pandemic emergency longer-term refinancing operations

April 30, 2020 | • Series of additional longer-term refinancing operations to ensure sufficient liquidity and smooth money market conditions during the pandemic period • Operations allotted on a near monthly basis maturing in the third quarter of 2021 The Governing Council of the European Central Bank (ECB) today decided to conduct a new series of seven additional longer-term refinancing operations, called pandemic emergency longer-term refinancing operations (PELTROs). These operations will provide liquidity support to the euro area financial system and contribute...

Read more

«‹464465466467468›»