Economic Calendar June 1: Bank of Canada June 1: Mexican Gubernatorial Elections June 2-3: UK Platinum Jubilee (Markets Closed) June 3: Dragon Boat Festival – China (Markets Closed) June 3: US Employment Data June 6: Pentecost (Various European Markets Closed) June 7: Reserve Bank of Australia June 7: US Primaries – IA, CA, NJ June 8: Central Bank of Poland June 9: European Central Bank June 10: US CPI June 12/19: French Legislative Elections June 13: Queen’s Birthday- Australia (Markets Closed) June 15: Federal Reserve June 15: Central Bank of Brazil June 15: China Medium...

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On Wednesday, the European Commission the European Commission proposed adding the evasion of EU sanctions measures to the list of crimes recognised in the European Union. The Commission also proposed new reinforced rules on the recovery and confiscation of frozen assets, which will also contribute to the overall implementation of EU’s restrictive measures framework. The Commission’s proposals come in the context of the ‘Freeze and Seize’ Task Force, set up by the European Commission in March to accelerate and enforce its measures...

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Global Tax Implications of the Engel List Part one of a two-part series on the Engel List Governments across Central America have mounted a serious effort to battle corruption, promote financial transparency and increase tax transparency, and the Biden administration has announced that it will join the fight. That fight comes via a recent U.S. call to action to promote economic opportunity in the region. A key part of the U.S. call to action in Central America is publicly sanctioning corrupt actors...

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The European long-term investment fund regulation (the ELTIF Regulation) was introduced in 2015. The aim of the ELTIF framework was to increase European long-term investments in the real economy. This includes infrastructure projects, real estate and listed and unlisted SMEs, which may require long-term capital investment. ELTIFs also have the potential to address financing required for environmental sustainability. The ELTIF provides an opportunity for investors looking for private equity investments with a lower risk profile than pure private equity...

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On May 24, 2022, U.S. Citizenship and Immigration Services (USCIS) announced it is implementing premium processing for certain petitioners who have a pending Form I-140 Immigrant Petition for Alien Worker under the EB-1 and EB-2 classifications. This expansion of premium processing only applies to certain previously-filed I-140 petitions under the E13 multinational executive and manager classification or E21 classification as a member of professions with an advanced degree or exceptional ability seeking a national interest waiver (NIW). Any petitioner who wishes to request a...

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We continue to monitor the U.S.-Russia tax treaty withdrawal along with economic and  trade sanctions. It’s a constantly developing situation that profoundly affects global business and cross-border tax collection. Following is an update to IWTA founder Jack Brister’s  article published in JD Supra on March 18, 2022. New Developments The Biden administration is poised to fully block Russia’s ability to pay U.S. bondholders. A temporary exemption deadline that gave Moscow leeway to pay coupons in dollars expires on May 25, 2022....

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The American Academy in Berlin is proud to announce the recipients of the 2022-23 Berlin Prize, awarded annually to US-based scholars, writers, composers, and artists who represent the highest standards of excellence in their fields, from the humanities and social sciences to journalism, public policy, fiction, and the arts. Chosen by an independent selection committee, Berlin Prize Fellows work throughout the semester on their projects and meet with peers and institutions in the Academy’s well-established network. They also engage with...

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On 12 May 2022, the European Court of Justice ("ECJ") answered questions from the Consiglio di Stato (the highest Italian administrative court) in a preliminary reference procedure concerning abuse of dominance by the Italian energy supplier Enel. The preliminary reference is part of the appeal procedure against the Italian Competition Authority ("ICA") imposed fine of EUR 93 million in 2018. After a partially successful appeal which reduced the fine to EUR 27.5 million, Enel brought the case before the Consiglio...

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Russia’s invasion of Ukraine has made decarbonization a strategic imperative for the European Union, say EU High Representative for Foreign Affairs and Security Policy Josep Borrell and Werner Hoyer, President of the European Investment Bank By Josep Borrell and Werner Hoyer | BRUSSELS – Russia’s invasion of Ukraine has forced the European Union to accelerate the pace of our energy and climate policy. Since the Kremlin has increasingly used energy as a tool for political influence, we must deprive it of...

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The global NFT (non-fungible token) market now is worth dozens of billions of dollars annually. Innovators and early adopters, marketplaces, and sellers, are all eager to join this market but may have questions about how to avoid bad actors or illicit funds and how to limit regulatory risk. As we've noted previously, U.S. regulators generally have stayed silent on new NFT-specific rules so far—but that silence does not preclude liability based on existing laws, including being "willfully blind" to...

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