By Richard P. Eckman | Mark T. Dabertin | Scott D. Samlin | Avinoam D. Erdfarb | Pepper Hamilton LLP This client alert has been updated from its original form to address the GAO opinion issued on Dec. 5, 2017. On December 5, the Government Accountability Office (GAO) essentially invalidated the CFPB’s auto lending guidance by finding that it constitutes a “rule” for purposes of the Congressional Review Act (CRA). As a rule, the guidance was required to be submitted to...

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By Trepp LLC The weakness in US equities that began on Monday afternoon spilled over into Tuesday, as all the major US indexes fell yesterday. The Dow slid 109 points (0.45%) on Tuesday, while the S&P 500 lost 0.37% and the Nasdaq slipped 0.19%. Data published yesterday revealed that the US trade deficit spiked in October, while the Institute of Supply Management's index of service providers slipped. Yields on long-dated Treasuries fell slightly, with the yield on the 10-year ending down one...

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On 5 December 2017, the Economic and Financial Affairs Council (ECOFIN) determined a list of 17 non-cooperative jurisdictions, i.e. the EU black list. This list was established based on three (screening) criteria: tax transparency, fair taxation (no harmful tax regimes) and implementation of BEPS minimum standards. The Netherlands, Belgium, Luxembourg and Switzerland are not included in this black list. The ECOFIN recommends that (but does not oblige) the Member States apply tax sanctions towards the listed jurisdictions. The EU may...

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By Tommaso Foco | Ginevra Sforza |Portolano Cavalo Studio Legale Following the approval by the Parliament of Law No. 155/2017 setting forth the principles for a thorough reform of bankruptcy law, the Italian Government is now working on the delegated law that is bound to replace the more than 70-years old Bankruptcy Act (1942). The new law will consolidate in one single act the various changes to the Bankruptcy Act that have been made since 2005 and will provide a...

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By Onno Bouwmeister | Malcolm Pobjoy | VISTRA If 2017 serves as a window into projections for the year ahead, then next year promises to be one of sustained growth for the private equity community. Mega deals were the order of the day in the first half of this year, and industry experts note that 2018 will likely be more of the same. According to PitchBook Q3 2017 US PE Breakdown, US-based funds raised $62.4 billion in commitments for just 58 vehicles...

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By Rein Wesseling | Christof Swaak | Floris ten Have | Stibbe Today the ECJ rendered its much anticipated judgment in a dispute between a supplier of luxury cosmetics (Coty) and one of its authorised resellers. The central question was whether Coty is allowed under the competition rules to forbid its resellers to sell Coty products over third party internet platforms with visible logo’s (like eBay or Amazon). The ECJ ruled that such an “online platform ban” is not incompatible with EU...

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By Wilson Sonsini Goodrich & Rosati In early 2018, the U.S. Department of Commerce's Bureau of Economic Analysis (BEA) will issue its mandatory five-year benchmark survey to obtain data on foreign direct investment (FDI) in the United States. The survey, known as the BE-12 survey, is required for U.S. entities in which a foreign entity or person holds, directly or indirectly, 10 percent of more of the U.S. entity's voting interests at any time during 2017. The completed surveys are due...

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By For the first time in 10 years, JRT Realty Group is delighted to present a leasing opportunity at United Nations Federal Credit Union’s Global Headquarters in Long Island City (Court Square Place / 24-01 44th Road). As leasing agents, we are offering a block of four floors (80,000 SF) at Court Square Place. These floors are available for possession in May 2018; and they can be leased as a block or individually. Court Square Place is a trophy office tower; and...

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By Reavis Page Jump LLP Compliments of Reavis Page Jump LLP, a member of the EACCNY

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