After the failure of the Trump/GOP healthcare bill the next focus is on the Republican tax reform proposals, which may well be outlined more clearly by the end of the month. With the USD having weakened a little over the last month and having failed to benefit even though the Fed raised rates again in March the focus on “Trumpflation” has if anything increased. The lack of significant action from the administration is generally seen as the main reason...

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Vistra has announced the acquisition of Podium SAM, a privately owned wealth structuring advisory provider in Monaco. Following the acquisition, Podium SAM will be rebranded as Vistra Private Office SAM. In addition, Vistra Monaco Corporate Services SAM has been incorporated to act as a local company administrator and has been granted the necessary licence in Monaco to set-up and manage trusts, companies and private fund structures for HNW families. This acquisition sees the expansion of Vistra’s presence into Monaco, further...

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On February 20, 2017, U.S. Secretary of Homeland Security John Kelly released two new policy memoranda aimed at implementing President Trump’s executive orders on enhancing the public safety of the interior and border enforcement of immigration laws. The first memo, titled “Enforcement of the Immigration Laws to Serve the National Interest,” immediately rescinded President Obama’s Priority Enforcement Program, which prioritized deportation of criminals and recently-arrived undocumented individuals, and gives immigration officials broad authority to deport “all removable aliens,” including those...

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• As part of his first-week initiatives, President Trump turned his focus toward immigration. These initiatives included dramatically expanding the resources of the U.S. Department of Homeland Security’s Immigration and Customs Enforcement (ICE) agency. Specifically, the Trump administration authorized the hiring of 10,000 ICE agents across the United States. This increase in the number of ICE officers will have a direct impact on employers as it relates to I-9 compliance and ICE audits of Forms I-9. For example, it...

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ING announced today the appointment of Mark Milders as head of ING Group Investor Relations. Mark will succeed Malcolm Brown, who will take up the position of project lead for Strategy and Innovation at ING Wholesale Banking on 15 May 2017. Patrick Flynn, CFO of ING Group said: "I am pleased to have Mark as our new head of Investor Relations. His in-depth knowledge of our company and its products, and his experience working with our Wholesale Banking clients, will...

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In geopolitical terms, there has been nothing to compare with 2016 since the end of the Cold War. Neither Brexit nor the election of President Trump was expected. The potential impact of either event, let alone both, could reasonably be anticipated to have given rise to inertia, confusion and uncertainty. In fact, M&A has been remarkably robust. Although global M&A value tumbled by 18% in 2016, the number of deals remained constant. Overall, 2016 was similar in value and volume to...

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As announced, UK Prime Minister Theresa May today lodged with the EU Council a notification under Article 50(2) EU Treaty, i.e. the UK's formal notification of its intention to withdraw from the EU. This notification triggers a two-year period for negotiations between the UK and the rest of the EU which should culminate in a withdrawal agreement. Failing such an agreement, the UK will leave the EU by operation of law after the two years, unless that period is...

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The U.S. Department of Justice (DOJ) has appealed one of the two federal court injunctions issued in response to President Trump's revised travel ban executive order. This executive order, Protecting the Nation from Foreign Terrorist Entry into the United States (the “Order”), was to take effect on March 16, 2017.  The implications of the Order are described here. President Trump issued this revised order on March 6 after the U.S. Court of Appeals for the Ninth Circuit enjoined the initial executive...

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Summary: On March 22, 2017, the Supreme Court issued its opinion in Star Athletica, LLC v. Varsity Brands, Inc., No. 15-866.  In a 6-2 decision, the Court held that decorative elements of a cheerleader’s outfit were separable from the functionality of the underlying garment and thus eligible for protection under copyright law.  Justice Thomas wrote the majority opinion, with Justice Ginsburg concurring in the outcome, and Justices Breyer and Kennedy dissenting.  Specifically, the Supreme Court held that “a feature incorporated...

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