17 Apr
Chapter News

ESCALAR: up to €1.2 billion to help high potential companies grow and expand in Europe

April 8, 2020 | Today, the Commission is launching ESCALAR, a new investment approach, developed together with the European Investment Fund (EIF), that will support venture capital and growth financing for promising companies, enabling them to scale up in Europe and help reinforce Europe’s economic and technological sovereignty. It will provide up to €300 million aiming to increase the investment capacity of venture capital and private equity funds, triggering investments of up to €1.2 billion, or four times the original...

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16 Apr
Member News

BennettJones: COVID-19: Detecting Fraudulent Schemes Perpetrated by Employees

April 7, 2020 | Recent media coverage has focused on the effect of COVID-19 on the emergence of cyber related frauds, including social engineering and phishing schemes. Employers would also be wise to consider the unique opportunities for fraud detection arising from government-mandated shutdowns, social distancing and the prevalence of employees working remotely. The recent work from home phenomenon may enhance the effectiveness of internal controls designed to detect any previously well-tended fraudulent employee schemes, including secret commission or kickback...

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16 Apr
Chapter News

Introductory statement by Commissioner Phil Hogan at Informal meeting of EU Trade Ministers

April 16, 2020 |  Today’s meeting takes place against the backdrop of a global public health challenge that is having profound consequences, particularly here in Europe. Over just a few weeks, we have seen the ever-increasing impact of this virus on our citizens, our public services and our economies. I’m sure we all join in expressing our sympathies to the bereaved, our best wishes to those who are ill and our gratitude to all those who are engaged in tackling this virus,...

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16 Apr
Member News

EIB Group establishes EUR 25 billion guarantee fund to deploy new investments in response to COVID-19 crisis

April 16, 2020 | • Extraordinary Board of Directors meeting approves the EIB Group’s response to economic effects of COVID-19 crisis: a €25 billion European guarantee which aims to deliver up to €200 billion for the European economy • Board decision follows 9 April recommendation by Eurogroup to include EIB proposal into joint EU response package The EIB Group is set to play a key role in the fight against the economic consequences of the COVID-19 pandemic. Following a recommendation by the...

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16 Apr
Chapter News

Tax and fiscal policy should continue to support households and businesses through containment, then shift to bolstering recovery

April 15, 2020 Tax and fiscal policy responses are playing a critical role in limiting the hardship caused by containment measures, and should continue to do so as governments seek to support households and businesses, protect employment and pursue economic recovery from the global pandemic, according to new OECD analysis. Tax and Fiscal Policy in Response to the Coronavirus Crisis, a report requested of the OECD by the Saudi G20 Presidency, was presented today during a virtual meeting of G20 Finance...

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16 Apr
Chapter News

Federal Reserve announces its Paycheck Protection Program Liquidity Facility is fully operational and available to provide liquidity to eligible financial institutions

April 16, 2020 The Federal Reserve on Thursday announced that its Paycheck Protection Program Liquidity Facility is fully operational and available to provide liquidity to eligible financial institutions, which will help support small businesses. The Small Business Administration's Paycheck Protection Program, or PPP, guarantees loans extended by qualified lenders to small businesses so that those businesses can keep workers employed. The Federal Reserve's facility will support the effectiveness of the PPP by extending credit to financial institutions that make PPP loans,...

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16 Apr
Member News

WSGR: Director of FTC’s Consumer Protection Bureau Gives Guidance on Consumer Protection Risks Associated with AI and Algorithms

April 15, 2020 | These days, most companies are focused on the myriad of legal, health and safety, and financial issues caused by COVID-19. While the firm is actively monitoring these issues,1 we also want to keep you abreast of other developments that may be relevant to your business. Here, we provide an overview of guidance recently offered by Andrew Smith, the director of the Federal Trade Commission's (FTC) Bureau of Consumer Protection, on how to manage consumer protection risks associated...

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15 Apr
Member News

PepperHamilton: U.S. and U.K. Agencies Warn of Increased COVID-19 Related Cyber Threats

April 15, 2020 | As reported in March, the COVID-19 pandemic is being leveraged by malicious cyber actors to make various cybersecurity attacks. In a joint alert issued on April 8 by the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) and the U.K.’s National Cyber Security Centre (NCSC), the agencies provided information on exploitation of the pandemic by cybercriminals and advanced persistent threat groups and provided guidance to help mitigate these threats. The alert identified several observed threats: •...

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15 Apr
Brexit News, Member News

OsborneClarke: Tax changes in the UK and the EU, An update for US businesses with European operations

April 15, 2020 | Covid-19 It is difficult at the moment to look beyond Covid-19 and the impact that it is having on our lives and the economy. Like all sections of the economy, taxes need to be considered when responding to this crisis. In the UK, the government has announced a range of emergency tax measures designed to help businesses deal with the fallout from the outbreak. These include a deferral of VAT payments and a relaxation of Time to...

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15 Apr
Member News

FaegreDrinker: CARES Act, Main Street Lending Program Summary for Small and Mid-Sized Businesses

April 14, 2020 | On April 9, 2020, the Federal Reserve released term sheets for a Main Street Lending Program, a new program intended to provide liquidity to small and medium-sized businesses to help withstand the coronavirus crisis. The Main Street Lending Program enables up to $600 billion in new financing of eligible term loans from eligible lenders to eligible businesses and consists of the Main Street New Loan Facility (the MSNLF) and the Main Street Expanded Loan Facility (MSELF)....

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