The CARES Act enabled any taxpayer with a Required Minimum Distribution (RMD) due in 2020 from a defined-contribution retirement plan, including a 401(k) or 403(b) plan, or an IRA, to skip those RMDs this year. This includes anyone who turned age 70 1/2 in 2019 and would have had to take the first RMD by April 1, 2020. This waiver does not apply to defined-benefit plans. The IRS allows anyone who already took an RMD in 2020 from these...

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Previously published on Law360 | The continuing economic and stock market tumult is prompting new behaviors from companies and regulatory bodies alike. As second-quarter earnings season wraps up, public companies have new guidelines from the U.S. Securities and Exchange Commission around how much information to disclose to stakeholders in their quarterly and annual forward-looking statements. Through these new guidelines, the SEC, by its own admission, has taken on a larger role in trying to use the power of disclosure to support broad economic...

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In June, Wiley published “Early Stage Valuation: A Fair Value Perspective.” The book, authored by Antonella Puca, provides accurate, up-to-date information on recent guidelines and new approaches for valuation assessments. Andreas Dal Santo is co-author of “Chapter 4: Seed Stage Valuation and the Venture Capital Method”. The book also includes contributions from Neil Beaton, Alexander Davie, John Jackman, and Mark Zyla. This authoritative guide examines how to apply market analysis, discounted cash flow models, statistical techniques such as option pricing...

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Employers have faced no shortage of challenges during 2020, and as we near the end of summer, new ones are on the horizon. Employees and their families seeking a change of scenery are traveling again, sometimes to COVID-19 hot spots, and when they come home, their return to the workplace has employers justifiably concerned. At the same time, employees with school-aged children have unique concerns of their own, including uncertainty over whether, when and where their children will begin...

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On August 6, 2020, President Trump signed an Executive Order (EO) that directs certain federal agencies to prioritize purchasing certain essential medicines, medical countermeasures and critical inputs that are made in the United States. The EO applies to all federal agencies and departments involved in the procurement of such goods. After last week’s EO restricting the ability of government contractors to employ foreign nationals, this is the latest in a series of EOs promoting the administration’s Buy American, Hire American agenda....

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The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org). USA New York: Pandemic Disruption Waylays NYC Property Tax Reform Project One of the first New York City public events shut down in the coronavirus emergency was an...

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Vascular calcification is an ever-spreading health problem, with many potentially deadly implications and no specific medical treatment available yet. The European Investment Bank (EIB) aims to remedy this situation by providing a €20 million loan to Spanish biopharmaceutical company Sanifit, who is developing novel treatments in two disease indications linked to calcification. The EIB is advancing funds for this research, development and innovation project through a venture debt operation under the European Fund for Strategic Investments (EFSI). EFSI is the financial...

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RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month. The following is a summarised update of key matters arising from the discussions and decisions taken by the IASB at its remote meetings on the following dates: 23, 25 June 2020 22 and 23 July 2020 The full update, as published by the IASB, can be found here. Disclosure Initiative—Accounting Policies The Board met on 24 June...

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In August, Banca d'Italia (the Italian Central Bank) published a Note on Financial Stability and Supervision on "the FDIC bank crisis management, and experiences and lessons for the Banking Union", prepared by Giovanni Majnoni D'Intignano, Andreas Dal Santo and Michele Maltese. The Note provides useful ideas for the ongoing debate in Europe on the revision of the rules on bank crisis management and on deposit insurance by examining the role that the Federal Deposit Insurance Corporation (FDIC) plays in...

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Event Industry GLOBAL PATH TO RECOVERY So much has happened to our industry since March 2020. The last few months have been very hectic, with multiple changes in our calendar worldwide. GL events group has been very shaken to say the least, with all 50 venues shutdown for over 3 months. Since June, a path to recovery is possible- new sanitary and health measures were put in place and safety guidelines approved around the globe for our MICE industry to...

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