Member News

08 Jul
Member News

Stibbe: COVID-19 Update and Guidelines published on the Dutch implementation of DAC6

The EU Mandatory Disclosure Directive (“DAC6”), introducing a reporting requirement for intermediaries and/or taxpayers of certain cross-border arrangements that are perceived to be aggressive, is effective as of 1 July in the Netherlands. By his letter of 26 June 2020, the Dutch State Secretary of Finance granted deferral of the Dutch reporting deadlines until 1 January 2021. The same week, the Dutch State Secretary of Finance published its Guidelines on reportable cross-border arrangements by a Decree dated 24 June...

Read more

07 Jul
Member News

BBGFX: July 2020 FX Outlook

Many major and emerging central banks took action in June, but outside of possible technical adjustments will continue with the current supportive stance in July.  The policy focus will shift back to fiscal initiatives.  The highlights will be the EU Summit on July 12, which is considering the EC's 750 bln euro package of grants and loans, and the US decision regarding the $600 a week extra unemployment insurance (expiring at the end of July) and another large budget...

Read more

07 Jul
COVID-19 News, Member News

H&K: New Employer Obligations in the Age of COVID-19: Safety Policies, PPE, and Deep Cleaning

Employment Attorneys David Santeusanio, Howard Sokol and Matthew Sloane co-authored an article in the Employee Relations Law Journal addressing practical considerations and obligations for employers when establishing safety plans to reopen the workplace. COVID-19 has altered the reality of workplace safety and corresponding industry standards. Employers face dramatically different workplace challenges and resulting new obligations regarding safety precautions and worker protections. Throughout the pandemic, federal agencies such as the Occupational Safety and Health Administration (“OSHA”) and the Centers for Disease Control and...

Read more

07 Jul
Member News

Loyens&Loeff: EU Parliament adopts Taxonomy Regulation

In recent years the European Union has paid increasing attention to sustainability in its policy- making particularly in the financial sector. In March 2018 the European Commission published its Action Plan on Financing for Sustainable Growth. The Action Plan has three main objectives: to redirect capital flows towards sustainable investment in order to achieve sustainable and inclusive growth; to manage financial risks arising from climate change, resource depletion, environmental degradation and social issues; and to promote transparency and long-term sustainability in financial and...

Read more

07 Jul
Member News

Houthoff: News Update Financial Regulatory

Recent developments in financial supervision EBA - DISCUSSION PAPER ON FURTHER ENHANCING SUPERVISORY POWERS OF COMPETENT AUTHORITIES On 26 June 2020, the European Banking Authority ("EBA") published a discussion paper exploring ways to enhance the Bank Recovery and Resolution Directive ("BRRD") framework on early intervention measures. This seeks to further enhance the crisis management tools available for competent authorities in addition to the supervisory powers laid down in the Capital Requirements Directive ("CRD") and in the Single Supervisory Mechanism Regulation ("SSMR"). The BRRD introduced...

Read more

06 Jul
Brexit News, Member News

Vulcan Insight: Post-Brexit Negotiations: Divergences Remain

With less than 6 months until the United Kingdom is due to leave the European Union’s economic remit, “serious divergences” between the two parties remain. Spurred on by the limited progress so far and Prime Minister Boris Johnson’s official confirmation that the UK would, in fact, not request an extension to the transition period beyond the end of the year, chief negotiators Michel Barnier and David Frost agreed at the beginning of June to “intensify” negotiations, in person, on a...

Read more

06 Jul
Member News

Arendt: The BlackRock VAT case, an impossible combination of artificial intelligence and the VAT exemption?

On 2 July 2020, the Court of Justice of the European Union (“CJEU”) ruled in the case of BlackRock Investment Management (UK) Ltd (C-231/19) that a “single supply” of management services, provided by a third-party supplier via a software platform for the benefit of a fund management company managing both special investment funds and other funds, does not fall within the VAT exemption provision. Background BlackRock Investment Management (UK) Ltd (“BlackRock”) was a company responsible for the management of funds: mainly...

Read more

02 Jul
Member News

Worst Economy versus Best Stock Market

Previously published in Medium | The quarter with the worst economy since 1929 and the best-performing markets since 1998. Image courtesy of Medium; Source: IMF The worsening forecasts of the International Monetary Fund, the statements by the Chairman of the Federal Reserve, Jerome Powell should leave no illusion on the depth of the recession. Wall Street ignores the economy The contrast could not be more striking between Wall Street and Main Street. The real economy succumbs to bankruptcies and unemployment. The United States will probably...

Read more

02 Jul
Member News

MHC: Privacy and Security: The Risks of Working From Home

In a recent article, we discussed the exploitation by hackers of the current COVID-19 crisis by using techniques such as phishing and malware technology, in order to conduct cyber-attacks on businesses and their workers. Only recently, a group of hackers-for-hire called Dark Basin was exposed for targeting thousands of businesses and individuals with a view to obtaining private data. Similarly, the vehicle manufacturing company Honda recently reported a cyber-attack. Honda maintains that the attack did not involve a data breach but affected its...

Read more

01 Jul
Member News

The Center for Financial Stability Names William R. Rhodes Chairman of Advisory Board

The Center for Financial Stability ("CFS"), today, announced the appointment of William R. Rhodes as the first Chairman of the Organization's distinguished Advisory Board. CFS is an independent, nonpartisan think tank focused on financial markets - with business lines presently segmented into the future of finance, data and analytics, policy, and technology. "CFS' innovative and practical approach, programs, and research position the organization as one of the world's leading think tanks and a vital resource for the New York and international...

Read more

«‹269270271272273›»