On Tuesday, the European Commission presented its Sustainable Finance Strategy to make the financial system more sustainable. At the same time, the Commission also proposed a new European Green Bond Standard to “create a high-quality voluntary standard for bonds financing sustainable investment.” According to Commissioner in charge of Financial Services, Financial Stability, and Capital Markets Union, Mairead McGuinness, the new strategy will significantly contribute “investment to green the economy and create a more inclusive society.” The Sustainable Finance Strategy comes a week before the...

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A Data Mosaic approach to risk management can help identify emerging topics and narratives often missed by traditional approaches. Sentiment data, along with other alternative datasets, is commonly used by asset managers to achieve market-beating returns, yet it remains widely underutilized within risk management. In this paper, we examine several examples of topical events that have impacted markets globally, and how news data can be incorporated within business practices to prevent and mitigate risk in real-time. Specifically, we will unpack the...

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Welcome to the 2021 report on our Spotlight on Women program and Diversity, Equity & Inclusion Initiative. This year’s theme is “Momentum,” a fitting choice given the progress we made during an extraordinarily difficult year. In these pages you’ll read about the concrete steps the firm has taken to promote diversity and advance equity and inclusion. We’re proud of Thompson Hine’s accomplishments and we invite you to celebrate with us as we reflect on our successes and plan for...

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In the latest issue of The Weekly Roar, HMM spends $1.57B on 12 new container ships, port congestion causes detention and demurrage fees to spike, Hapag-Lloyd makes the first digitally-controlled port arrival, JFK plans to develop a new airfreight handling facility, and the air cargo sector predicts a healthy peak season. After signing newbuild contracts with two different manufacturers in South Korea, HMM announced that it expects all 12 vessels — each capable of carrying 13,000 TEUs — to arrive...

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Cloud computing arrangements often packaged as ‘Software as a Service – SaaS’ are increasingly used by businesses due to their flexibility and scalability. A recent IFRIC agenda decision addressed the accounting for configuration or customisation costs from cloud computing arrangements. The article explains the implications of the agenda decision for IFRS preparers that have incurred significant implementation costs in relation to cloud-based application software. DOWNLOAD Compliments of RSM LLP - a member of the EACCNY.

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Earlier this week, the Act of 2 June 2021 providing for various financial provisions relating to the combat against fraud has entered into force. This Act further enhances the combat against specific tax mechanisms by providing new criminal sanctions and by broadening reporting obligations of the FSMA and of the NBB. Context Earlier this week, on 28 June 2021, the Act of 2 June 2021 providing for various financial provisions relating to the combat against fraud has entered into force (the...

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This week, the European Commission presented its legislative proposals for the revisions of the General Product Safety Directive and of the Directive on consumer credits. According to the Commission, the updates will be vital in “enhancing consumer rights in a world reshaped by digitalisation and the COVID-19 pandemic.”  Since its inception in 2001, the General Product Safety Directive has become the EU’s key instrument of ensuring the safety of consumer products being placed on the internal market. Under the Directive, which complements other sector-specific legislation such as...

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The European Commission published a proposal for an Artificial Intelligence (AI) Regulation, aiming to set rules governing the use of artificial intelligence whilst fostering innovation across the European Union. The development and use of artificial intelligence have skyrocketed, seeing unparalleled advances in the technology's appearance in day-to-day life. Artificial intelligence can be found in everyday services such as Netflix and Spotify (allowing applications to learn users' preferences), self-driving cars, and notably, – in more recent times – disease mapping. Simultaneously, these developments...

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