“Some benefits are customary, rather than legally required, but they may be necessary to attract local talent,” says Bill Kirwan, vice president, advisory for Vistra in the UK. One path is to set up a local legal entity, such as a subsidiary or branch, which will allow the employer to provide workers with all legally required benefits. The employer may then add any customary additions it chooses. Establishing a legal entity offers the employer maximum flexibility in terms of allowable...

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As the SEC cautions SPAC managers about the use of projections, an FTI Consulting analysis of SPAC valuations reveals reasons for caution. In recent years, one of the big advantages of the SPAC merger for private companies when going public over choosing a traditional IPO was the acceptance of using forward-looking projections in investor presentations. However, questions about the implications of relying upon projections have lately dogged the SPAC universe and focused attention on some transactions after the fact. Based on...

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As the U.S. economy reemerges on the other side of the 2020 recession, the U.S. labor market remains an area of concern for occupiers, investors and the commercial real estate (CRE) industry. In our latest report we examine five key U.S. labor market trends impacting CRE. The impact of the pandemic on the U.S. labor market was sharp and severe, especially within urban areas. Although the labor market is now well on its way to recovery, there remain significant challenges...

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Manfred Weber, German MEP and leader of the group in the European Parliament, has, in a surprise move, ruled himself out of the Presidency. In an agreement, decided just over two years ago, the first half of the 2019 – 2024 term would be held by the Socialists, and the latter half by the EPP.  Weber, who ran as the lead candidate for the EPP in the 2019 elections, where the EPP received the highest number of votes, did not...

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The transforming mobility landscape The pandemic has impacted us all. Businesses, society and economies all over the world have been hit hard and, as a result, countries have been forced to take extensive measures in order to combat the virus. These include closing borders, making international business travel nearly impossible. The pandemic acted as a catalyst for businesses around the world to respond rapidly in agile and purposeful ways. As a result, the priorities of advisers shifted towards ensuring their clients...

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In this News Update, we discuss the European Commission's announcement to revise the European AML/CFT legislation and create a European AML/CFT supervisor. We also look at the EBA's consultation on new Guidelines on the role of AML/CFT compliance officers. We discuss the CJEU's ruling on the EBA Guidelines' validity on product oversight and governance. Further, we look at the EBA's Opinion to easily implement the IFR and IFD. Finally, we highlight some other financial regulatory publications issued this summer. EUROPEAN...

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Stout's Automotive Recall Accelerator brings together unique and important news, analysis, and insights related to automotive recall and vehicle safety for stakeholders across the industry. RECENT DEVELOPMENTS In early 2020, a fuel pump recall was issued due to cracking from prolonged exposure to solvents during manufacturing which affected five vehicle manufacturers. Since the initial recalls, there have been at least two expansions of those recalls (highlighted in Stout’s April Automotive Accelerator). In July 2021, another vehicle manufacturer expanded its recall to...

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On 20 July 2021, the Department for Business, Energy & Industrial Strategy ("BEIS") announced that the new screening regime under the National Security and Investment Act 2021 ("NSIA") would officially commence on 4 January 2022. Alongside this announcement, BEIS also published some long-awaited guidance and draft secondary legislation on various aspects of the new regime. Key points to take away from this briefing: BEIS have opened a new consultation ("Consultation") relating to its proposed use of its discretionary "call-in" power....

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NautaDutilh's New York office is looking for a full time Management Assistant. About Us - NautaDutilh is a Benelux (Belgium, Netherlands, Luxembourg) Law Firm. Our New York office works with U.S.’s most prominent Financial Institutions, Corporations, and Law Firms, while practicing the law of our European jurisdictions.  Approximately 15-20 professionals work in our Rockefeller Center, New York Office location. Our Team - Our staff team members hold the title Management Assistant and they operate as a pool in fulfilling Practice Management, Attorney Support/Secretarial,...

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