Real estate investment deserves its reputation as a lucrative source of income, but investors must always be aware of the constant changes to the laws on taxes related to real estate properties, since these rules change frequently, with the numbers and percentages changing from one year to the next. No two years are alike as far as real estate investing goes, but this year, the Biden administration has proposed major changes to sections of the Internal Revenue Code that...

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The traditional model of a family office setting up in a bricks and mortar space and hiring the right professionals to work and subsequently assemble with family members several times of year, where they would plan and talk strategy, are but a distant memory.  For many this movement to an online world has been uncomfortable, but others, especially the newest generation of family members, have embraced it whole heartedly. Change is never easy and moving rapidly to an online world meant that...

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As the European Commission prepares to adopt its landmark “Fit for 55” climate and energy package in July, carbon permits under the EU’s Emissions Trading System have, this week, reached the highest level since their introduction in 2005.  Since 2005, the Emissions Trading System (ETS) has been the cornerstone of the EU’s fight against climate change inducing greenhouse gas emissions. According to the European Commission, the ETS is the “world’s first major carbon market and remains the biggest one” to...

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When it comes to motivating employees, cash seems to be king. However, while you certainly aren’t going to hear your employees complain about a monetary reward, the fact of the matter is that money alone is not a huge motivator. Studies have shown time and time again that, when it comes to incentivizing employees, it takes more than money to be truly successful. Whether you are incentivizing employees to meet a specific goal, or just trying to motivate and...

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On April 23, Law No. 53 of April 22, 2021, “Delegation to the Government for the transposition of European directives and the implementation of other European Union acts,” was published in the Official Gazette (“Delegation Law”). Article 15 of the Delegation Law provides principles and criteria for the government to use in adapting the national regulatory framework to the provisions of the Medical Devices Regulations (EU Regulations 2017/745 and 2017/746) by issuing one or more legislative decrees within the next 12 months. According to...

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Do you want a simple way to keep current on important privacy changes? Avoid sleepless nights wondering whether you missed a privacy speed bump or pothole between annual updates? Worry no longer. Troutman Pepper is pleased to offer More Privacy, Please — a monthly newsletter recapping significant industry and legal developments, as well as trends in the areas of cybersecurity, information governance, and privacy. U.S. LAWS AND REGULATION Federal FTC Publishes AI Best Practices. Building upon its April 2020 guidance on Using Artificial...

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“Europe should become the global centre for trustworthy artificial intelligence (AI).” This is the ambitious target set by the European Commission (the “Commission”) when presenting its proposal for an Artificial Intelligence Act on 21 April 2021, in which it intends to regulate the use of AI, not the technology itself. The proposed AI Regulation is primarily a prohibition law which prohibits the use of AI systems in certain application scenarios or makes it subject to technical and organisational requirements. The proposal...

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