The US Internal Revenue Service (IRS) issued a set of corrections to its final regulations under the US Foreign Account Tax Compliance Act (FATCA). Click here to read document "TD 9610". The IRS also published two sets of Frequently Asked Questions (FAQs): FATCA - FAQs General FATCA - Registration System FAQs

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ALFI: Asset managers should broaden their appeal to all savers in society A report entitled "Beyond 10%: the case for enlarging the pool of retail investors in Europe's investment funds," commissioned by ALFI and prepared by research company Mackay Williams highlights the fact that there is a ?4 trillion pool of household assets in Europe that are not managed professionally and which is therefore either losing value or failing to grasp growth opportunities that are available through long-term investment vehicles....

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The European Securities and Markets Authority (ESMA) has published its final report on "Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD". The guidelines aim to clarify provisions of the AIFMD and its "delegated act" ("Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012") on required information, which will help to have a more comprehensive and consistent oversight of AIFMs' activities. ESMA has also published an Opinion that proposes introducing additional periodic reporting...

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The EU and U.S. EU negotiators met on Monday November 11th in Brussels for the first day in a second round of talks to foster progress in the Transatlantic Trade and Investment Partnership (TTIP). The beginning of the week will be devoted to discussions on investment rules and trade in services. The teams of negotiators will continue working on those topics during the course of the week, as other negotiators meet to discuss a range of regulatory issues, including regulatory...

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The Lithuanian Presidency of the EU Council is paying special attention to promoting vocational education and training (VET). Directors general responsible for VET in the EU member states, together with experts and social partners, have gathered in Vilnius to discuss how to enhance quality of vocational training, making VET directly meet the demands of the labour market, as well as promoting VET openness and inclusiveness to all. Dainius Pavalkis, this semester presiding over the meetings of EU ministers of education...

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On 11 November the Council and the European Parliament agreed on the 2014 EU budget and on the financing of € 400.5 million to redress damages from natural disasters in four member states. In the Conciliation Committee, the two institutions agreed on € 135.50 billion for overall payment appropriations and € 142.64 billion for commitment appropriations for the EU budget for 2014. This is a decrease of 6.5% for payments and of 6.2% for commitments compared to the EU budget for 2013. Both institutions...

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The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility will decrease to 0.25% and 0.75% respectively. The interest rate on the deposit facility will remain at 0.00%. IN THIS CONTEXT: Introductory statement to the press conference by Mario Draghi Key ECB interest rates More information on monetary policy

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Business Incubator Will Build Upon an Ongoing Renaissance and Provide Work Spaces to Freelancers, Start-Ups, Small Businesses and Non-Profit Organizations Part of the City's Growing Network of Incubators to Encourage Entrepreneurship and Create Jobs in Harlem New York City Economic Development Corporation (NYCEDC) today announced the opening of the Harlem Garage, part of the growing network of business incubators throughout New York City. Located on 118th Street, just west of Frederick Douglass Blvd., the Harlem Garage is an approximately 6,000...

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In recent months, there have been encouraging signs that an economic recovery is underway in Europe. After contracting up to the first quarter of 2013, the European economy started to grow again in the second quarter and real GDP is set to continue growing in the remainder of this year. Growth in the second half of 2013 is expected at 0.5 % compared to the same period in 2012 in the EU. On an annual basis, real GDP growth this...

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