Member News

Member News

Ahold to Close Upstate New York Warehouse

According to the Buffalo News, supermarket operator Ahold USA will be closing two New York warehouse facilities some time this year. The story notes that the firm will lay off 600 employees by August and close locations in Cheektowaga and Lancaster, New York. The location to watch is the one in Cheektowaga. The Meridian Business Center at 1 Scrivner Drive is the current location of Ahold's American Sales warehouse, which is one of the two slated for closure. The Meridian Business...

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Member News

European Data Protection Reform Set in Motion – Blessing or Bureaucratic Monster?

On 15 December 2015, the European Council, the EU Commission and the EU Parliament reached an agreement on a reform of the European data protection law within the framework of the so-called “trialogue negotiations”. The package consists of the General Data Protection Regulation and a Data Protection Directive. The General Data Protection Regulation is aimed at providing EU citizens with better control over their personal data. Important points are: • Explicit consent of the customers to the use of their data •...

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Member News

USCIS to Accept Cap-Subject H-1B Petitions for FY2017 Beginning April 1, 2016

Friday, April 1, 2016 marks the opening of the filing period for new H-1B petitions to be counted against the annual H-1B quota for Fiscal Year (FY) 2017. H-1B petitions subject to the annual quota, commonly known as the “H-1B cap,” can be submitted on this date for an employment start date of October 1, 2016 or later. To prepare for the FY 2017 H-1B filing period, employers should identify current and future employees who will need H-1B visa...

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Member News

Spotlight on Regulatory Compliance

Financial regulation is constantly evolving with ever more byzantine, copious and intrusive rules, whose reach is ever-widening. This environment, alongside the competitive nature of the globalised economy and the current focus on emerging forms of trading and financing in the "shadow" economy, creates a difficult and complex world for financial services firms and transactions. Typical regulatory issues for corporate deals Below are a few examples of areas where early-stage regulatory input is key to an effective corporate deal: Financial promotion: The "financial...

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Member News

The Best Form of Defence is Attack

Did you know that you can use EU and national competition rules to your advantage by intervening in merger investigations or bringing a complaint against competitors, customers or suppliers allegedly involved in anti-competitive or abusive practices? You can get the European Commission (Commission) or other relevant national competition authorities on your side to help tackle anti-competitive behaviour by players in your industry. Let’s take a look at mergers… Occasionally a deal is announced that will result in competitive and commercial risks...

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Member News

Generation Study Abroad Launches New Round of Partner Scholarships

Application Deadline: January 25, 2016 IIE is pleased to announce the 2016 call for applications for the IIE Generation Study Abroad Scholarship Program. Through this program IIE will provide incentive grants of $7,500 to campuses to be used for study abroad scholarships for their students (including internships and service learning opportunities) that take place between Fall 2016 through Summer 2017. These grants are in support of pledged efforts by U.S. colleges and universities who are Generation Study Abroad partners. They...

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Member News, New York Related News

Trading Alert: Stuyvesant Town/Peter Cooper Village Pays Off

It may not be the Powerball, but the ship has come in for those who bet that the $3 billion Peter Cooper Village and Stuyvesant Town would pay off in full in January 2016. Ever since the sale of the complex was announced in late 2015, CMBS investors knew this day was coming; the only question was "when?” A lawsuit from a lender of mezzanine debt, followed by the trustee asking for clarification on the exact distribution for the repayment proceeds cast...

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Member News

A Washington D.C. Startup to Watch in 2016

Global Professional Search is Meeting the Rising Demand for Global Talent WASHINGTON, Jan. 12, 2016 -- Over the last few years, Washington D.C. has made great strides to attract entrepreneurs, venture capitalists, incubators, and accelerators in an attempt to build its startup bona fides and place itself among the serious east coast centers of innovation. 2016 will be no exception. According to the PricewaterhouseCoopers and National Venture Capital Association MoneyTree™ Report, Washington D.C. ranked 10th in 2015 for VC funding–receiving $786...

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Member News, Uncategorized

Long Island Office Loan Receives Appraisal Reduction Increase

According to January remittance data, the $43.8 million One Old Country Road loan recently received an appraisal reduction increase from $23.3 million to $43.3 million. Comprising 25.37% of BACM 2005-6, the note is scheduled to mature next month. One Old Country Road is backed by a 320,408 square-foot suburban office in Carle Place, NY which was foreclosed on July 2011. The loan was transferred to special servicing in November 2010 for imminent default after the borrower was 60+ days late on...

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Member News

SEC Issues Long-awaited Distribution and Sub-accounting Guidance

On Jan. 6, 2016, the staff of the SEC's Division of Investment Management released long-awaited guidance on mutual fund payments to intermediaries for services to omnibus and networked shareholder accounts. The guidance reflects the IM staff's views on a range of payments to financial intermediaries for non-distribution-related services, including sub-transfer agent, administration, sub-accounting and other shareholder servicing fees (the staff call these, collectively, the "sub-accounting fees"). The guidance reaffirms that directors bear a substantial responsibility in approving these arrangements, expands the...

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