By Lee Grosse | Vice President, Structured Finance| TMF Group There has been an influx of foreign investment in real estate in the United States as a direct corollary of the stable legal framework, strong property rights and as well as a robust commercial real estate environment. But, these foreign investors may not be aware of the mandatory filings required by the United States Bureau of Economic Analysis for US domiciled corporations with 10% or more foreign ownership.  What is the BEA? The...

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As of February 26, 2019, companies and individuals filing for a trademark with the Italian Patent and Trademark Office (“IPTO”), using the dedicated website, will be able to choose a new, optional fast-track procedure. The key advantage of this new procedure, as defined in the Ministry of Economic Development circular no. 604 of February 6, 2019, is that trademark applications will be published in the IPTO bulletin in a considerably shorter amount of time (within 7 days of filing). In fact, the standard procedure...

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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). The first article below covers both the USA and Europe.   If a Wealth Tax is Such a Good Idea, Why Did Europe Kill Theirs? In late January, Senator...

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At the heart of Europe and an intrinsic part of the European Union, Germany is an economic powerhouse. Famed for its industry, manufacturing and engineering, it is Europe’s greatest exporter. Its people are highly educated, skilled and motivated, making it a core market for growing businesses. Founded in Germany in 1785, HSBC Germany offers in-depth local knowledge and financial expertise from its base in Düsseldorf and 11 other locations across the country. With almost 3,000 employees in Germany, backed by...

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By Marie-Laure Combet and Lena Boucon | Orrick  A decade ago, the European Commission conducted a thorough sectoral inquiry into the European pharmaceutical sector that identified antitrust shortcomings impeding access to more affordable and innovative medicines and treatments. Concluding this inquiry by setting priority actions for the years to come, former Competition Commissioner Kroes called for “… more competition and less red tape …” (sic). Since this statement, there has been intense enforcement activity in the sector not only by the European Commission itself,...

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By Len Adam, CEO | ACG Resources The candidate experience is essential to a company’s ability to attract top talent. Unemployment is low and the competition for talent is tough, so it’s vital to get off on the right foot and create a positive impression. A lot can go wrong during the interview process, so striving for positive candidate experience is key.    Be Expedient One of the quickest ways to lose a candidate’s interest is by taking too long. The hiring...

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ING has been informed by the Banca d'Italia of their report with conclusions regarding shortcomings in AML processes at ING Italy. ING will analyse the findings from an inspection conducted from October 2018 until January 2019 and will discuss them further with the Banca d'Italia. In line with the enhancement programme announced last year, it is taking the necessary steps to improve processes and management of compliance risks as required by the Banca d'Italia. In close consultation and in agreement...

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By Till Steinvorth and Boris Marschall | Orrick In a landmark judgment (Case C‑724/17, Vantaa vs. Skanska Industrial Solutions and others), the European Court of Justice (ECJ) decided on March 14, 2019 that companies cannot use corporate restructuring to escape their liability for cartel damages. Background The Skanska case concerned a cartel in the asphalt market in Finland. Seven companies were ultimately fined for their participation in the cartel. After the cartel became public, the municipality of Vantaa, which had bought asphalt during the cartel...

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