Chapter News

OECD | Making tax dispute resolution more effective: New peer review assessments for Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore and Spain

Under BEPS Action 14, jurisdictions have committed to implement a minimum standard to improve the resolution of tax-related disputes between jurisdictions. Despite the significant disruption caused by the COVID-19 pandemic and the necessity to hold all meetings virtually, work has continued with the release today of the stage 2 peer review monitoring reports for Czech Republic, Denmark, Finland, Korea, Norway, Poland, Singapore and Spain. These reports evaluate the progress made by these eight jurisdictions in batch 3, in implementing any recommendations resulting from jurisdictions' stage 1 peer review reports....

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Chapter News

European Commission announces support for the Venture Centre of Excellence programme

The European Commission announces a €150m financial contribution to the Venture Centre of Excellence (VCOE) programme, at the HTID® event in Paris The contribution from the European Commission is an anchor investment in the VCoE with additional contributions expected from private investors predominately in the Pharma and Med-tech industry, Co-developed by EIT Health and the European Investment Fund, the VCoE is expected to catalyse over €2bn into the European Life Sciences industry. The VCOE programme will start operations...

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Member News

H&K | A Closer Look at ISDA’s New 2020 IBOR Fallbacks Protocol and Amendments to 2006 Definitions

Which would provide parties with uniform way to address existing and new derivatives contracts after discontinuation of Libor. The International Swaps and Derivatives Association Inc. (ISDA) has published its 2020 IBOR Fallbacks Protocol and related Amendments to the 2006 ISDA Definitions to address discontinuation of the U.S. dollar (USD) Libor and other interbank offered rates (IBORs) in the global derivatives market. USD Libor is anticipated to be discontinued at the end of 2021. Existing derivatives transactions will require a...

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Chapter News

IMF | Europe Needs to Maintain Strong Policy Support to Sustain the Recovery

The pandemic is exacting a heavy toll on Europe. More than 240,000 people have lost their lives. Millions have suffered the illness themselves, the loss of loved ones, or major disruption in their work, their businesses, and their daily lives. The economic impact of the pandemic has been enormous. Our latest Regional Economic Outlook for Europe forecasts a 7 percent decline in Europe’s GDP in 2020. The recovery from this crisis will be uneven and partial. While real GDP is projected to...

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Member News

UBP IAS | Update: Asset Class Outlook October 2020

As we enter the last quarter of what has turned out to be an eventful year, cross-asset class investors continue their search for the ‘best’ asset class. Without  a crystal ball, it appears impossible to answer where this will be with any degree of advance certainty. It is therefore crucial to diversify by blending asset classes ideally including those which offer a positive yield. The way the blend evolves over time is key for future risk-adjusted returns. Even if the...

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Member News

Troutman Pepper | A New Wave of Board Diversity Derivative Litigation

With a hot national spotlight on issues of racial diversity, equality, and inclusion, the composition of corporate boards of directors is facing increased scrutiny from the American public, legislators and the plaintiffs’ bar. The plaintiffs’ bar fired their first shot in July 2020 with a shareholder derivative complaint against the board of a Fortune 100 company, followed in quick succession by additional derivative lawsuits against the boards of a number of public companies that allegedly lack any racially diverse...

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Member News

ACG Resources | Unemployment is high. Why is no one applying?

The job market has shifted tremendously in 2020. Frequently, hiring managers and decision-makers ask our team, "With unemployment being so high, where are all the candidates?" or "Why should I hire a recruiter when unemployment is so high? Can't I just post the job and have my pick of candidates?" Let’s take a look at these questions. The first thing we suggest is to look at the industry you are in. We are in unprecedented times and facing statistics and...

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Member News

Mind the gap: Latin America has a COVID-19 cash gap

This article was first published in Reuters Breakingviews | Latin America’s Covid-19 crisis demands a more ambitious response from governments and the international community. The pandemic is shining a light on underlying economic vulnerabilities that have hindered the region’s efforts to contain the disease. Without additional funding, the eventual recovery may also suffer. The region’s five largest economies combined – namely, Brazil, Mexico, Colombia, Peru, and Argentina – registered 7.7 million cases of Covid-19 and hundreds of thousands of deaths, as...

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Member News

Wirecard is a wake-up call on regulatory weakness

This article by William R. Rhodes was first published in TheBanker | There is no room for apathy where regulators are involved; we need an investigation into Wirecard, however embarrassing and painful it may be. The lion’s share of the blame for the $2.1bn fraud and collapse of Wirecard rests with its board, ex-CEO, chief financial officer and senior leaders. The supervisory and executive boards failed to oversee the firm’s performance or ask the right critical questions. Why were they so lax? German...

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Chapter News

Baltic Sea fishing: Council of the EU agrees on 2021 catch limits

Today, the Council reached an agreement on next year's fishing opportunities in the Baltic Sea, focusing on fish stock recovery. Ministers agreed to continue decreasing the fishing opportunities for several fish stocks in the Baltic Sea to help them recover. Ministers decided to continue the closure of the Eastern Baltic cod fishery and to provide only a by-catch quota, which was again significantly reduced compared to last year's. The biggest cuts in the total allowable catches (TACs) were for the herring of the Western and...

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