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New York Grant Company Announcement: International Women’s Enterprise Challenge

If you have a woman-owned small business here in New York, or if you know a woman who owns a small business, we strongly encourage applications to IWEC:  the International Women's Enterprise Challenge.  The New York Grant Company, as an awardee of this program in 2012, knows firsthand how it offers a strong boost to woman-owned businesses.  Initiated and sponsored by the US Department of State, the program awards and recognizes three selected businesses from the US every year. In...

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Top 10 Considerations for Trusts & Estate Planning in Light of President Obama’s Proposed 2015 Budget

The President has released his annual 'Greenbook'. This book outlines his budget proposals for the upcoming fiscal year. Although not all the items in the book make it into the final budget, they provide a clear window to view the policies that he intends to push for the year. The proposals for Estate and Gift Tax contain several items that could significantly affect one's ability to pass assets to loved ones in a tax-efficient manner. Join McManus & Associates on...

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Pepper Client Alert: Securities and Exchange Commission Creates New Private Fund Unit Dedicated to Examination of Private Equity and Hedge Funds

On April 7, 2014, it was announced that the United States Securities and Exchange Commission (SEC) has created a new private fund unit dedicated to the examination of private equity and hedge funds. The new group is another example of increased regulatory oversight of the financial services industry following the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), Pub. L. 111-203, H.R. 4173. As a result of Dodd-Frank, many investment advisers, hedge funds, and private equity...

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Record number of international companies in Vienna

133 international companies set up business operations in Vienna in 2013, more than ever before. Total investment volume amounted to about EUR 38 million, creating 700 new jobs. In the past ten years more than 1,000 international firms have established subsidiaries or branch offices in Vienna, creating or safeguarding 9,100 jobs and stimulating investments of EUR 800 million. Functioning city lures companies The soft skills offered by the business location were also among the main reasons explaining the decision of international...

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No Holds Barred? EU Data Retention Directive Declared Invalid by the Court of Justice

How did the decision come about?  European law permits national courts to submit questions to the Court on the interpretation of EU legislation. The Irish High Court referred questions from a case taken by Digital Rights Ireland, an organisation dedicated to defending civil, human and legal rights in a digital context. The questions concerned the validity of the 2006 Data Retention Directive, which obliged Member States to introduce laws compelling the storage of telecommunications data. The Directive required the collection and...

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Private Equity Funds Eye Cayman Ahead of Rule Change

A proposal for amendments to Cayman law could align their legislation with that of Delaware in order to facilitate private equity structures adopting the master/feeder structure, potentially attracting more funds domiciling in the offshore jurisdiction. Cayman is expected to pass a new Exempted Limited Partnership Law in March or April 2014. The bill, which sets out the terms of the proposed new law, provides for increased drafting flexibility for exempted limited partnership agreements, writes Matt Mulry, partner – financial services,...

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Nutri Ventures Teams Up With Partnership for a Healthier America

First Lady Michelle Obama remarks on Nutri Ventures' commitment to improving childhood nutrition Nutri Ventures Corp. has signed an agreement with Partnership for a Healthier America, a nonpartisan, nonprofit organization chaired by First Lady Michelle Obama. When Nutri Ventures and PHA announced the partnership during the Building a Healthier Future conference on March 13, Nutri Ventures pledged to work with the PHA on its core mission: promoting healthy eating habits in children. To do this, all 29 episodes of “Nutri Ventures:...

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New York City’s Economic Incentives Have Been Renewed & Extended!

The New York Grant Company, a EACCNY member, is pleased to let you know that all of New York City's as-of-right economic incentives have been renewed and extended as part of the State's 2014 budget package signed into law by the State legislature and Governor Cuomo on April 1, 2014. Moreover, all of the incentives are effective retroactive to any sunset dates which have already passed for many of the programs.  This means that any company which signed or renewed a...

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NYC RE: More Moves Along New York’s Sixth Avenue Corridor

Trepp, LLC in the past has written about the various comings and goings on Manhattan's Sixth Avenue (also known as Avenue of the Americas) a number of times. Several more large lease changes were reported over the last few days. None of the leases touch CMBS in a material way, but they do show how much current movement there is in that neck of the woods. On Tuesday, Steve Cuozzo of the New York Post noted that law firm White and Case was...

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Observation 1.3 on the Volcker Rule: What Fund Managers Need to Know About the Volcker Rule Impact on Client Bank Investors

On April 1, 2014, the final regulations implementing the “Volcker Rule”1 became effective. The regulations were jointly adopted on December 10, 2013 by the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The regulations, among other things, prohibit banking entities and nonbank financial companies from engaging in proprietary trading and...

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