Member News

28 Jan
Member News

The ‘New Normal’ in CMBS Results in BBBs Widening Sharply

For investors wondering just how impactful the 2016 sell-off has been on mezzanine CMBS, the answer came on Wednesday. The latest conduit deal to price saw the "high" BBB price in the mid-600 range over swaps and the "low" BBB clear the low-mid 800s over swaps. (The latter put the all-in yield above 10%.) Those numbers were 200 basis points wider than the last BBB high to price in December, and more than 200 basis points wider than the last...

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27 Jan
Member News

Partner Jennifer Hillman Honored With Prestigious “40 Under 40” Award

Uniondale, Long Island, New York, January 27, 2016 – Ruskin Moscou Faltischek, P.C. announced today that partner Jennifer Hillman, a member of the firm’s Trust and Estates Department, was selected by award sponsor Long Island Business News for inclusion in their elite 40 Under 40 Class of 2016, an annual tribute to Long Island’s best and brightest.   Ms. Hillman’s practice includes all manner of Surrogate’s Court proceedings including accounting proceedings, probate contests, discovery proceedings, and commercial litigation related to estates....

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26 Jan
Member News

Critical Filing Dates for FY 2017 H-1B Cap

Employers who wish to sponsor H-1B workers for Fiscal Year 2017 can begin filing petitions on April 1, 2016 for a start date of October 1, 2016.  The H-1B visa is used by businesses who wish to employ foreign nationals to work in a specialty occupation requiring theoretical or technical expertise.  For FY 2017, cases will be considered accepted on the date that U.S. Citizenship and Immigration Services (USCIS) takes possession of the petition, not on the date it...

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25 Jan
Member News, New York Related News

Transatlantic frictions: N.Y. bank authority vs. German labor court

Acting under the pressure put on it by the New York financial supervisory authority, German Commerzbank dismissed 4 German employees, but has now been upbraided by Frankfurt Labor Court for doing so. The US bank authority had demanded repercussions for the bank's lax anti money laundering checks: "The Authority is instructing the bank to take all necessary steps to dismiss the four employees who played a central role in the context of the inappropriate conduct (...), but who continue to...

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22 Jan
Member News

FTC Proposes Revisions to Guides for the Jewelry, Precious Metals, and Pewter Industries

In a Federal Register notice dated January 12, 2016, the Federal Trade Commission (“FTC”) is seeking comments on proposed amendments to its Guides for the Jewelry, Precious Metals, and Pewter Industries (“Jewelry Guides”). Companies are encouraged to submit comments to the FTC before the changes are finalized as these proposed changes may have a significant impact on current marketing practices. Comments are due by April 4, 2016. In July 2012, the FTC initiated a regulatory review of the Jewelry Guides which yielded...

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21 Jan
Member News, Uncategorized

The Netherlands implements OECD BEPS Country-by-Country Reporting

The Netherlands implements OECD BEPS Country-by-Country Reporting as well as the amendments to the EU Parent-Subsidiary Directive As from 1 January 2016, new rules have become effective in the Netherlands that require multinational enterprises ("MNEs") to comply with new transfer pricing documentation requirements, including the obligation to prepare a Country-by-Country Report ("CbC Report"), a Master File and a Local File. These rules essentially implement Action 13 of the OECD BEPS project into Dutch tax law. The new rules require taxpayers to...

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20 Jan
Member News

GDLSK ALERT Iran Sanctions Update

January 16, 2016, marked “Implementation Day” for the Joint Comprehensive Plan of Action (JCPOA) reached by the P5+1 (China, France, Germany, Russia, the United Kingdom, and the United States), the European Union, and Iran. Prior to Implementation Day, the U.S. Iranian Transactions and Sanctions Regulations (ITSR) prohibited foreign entities that are owned or controlled by U.S. persons from supplying goods or services to Iran.  31 C.F.R. § 560.215.  A foreign entity is “owned or controlled” by a U.S. person if...

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20 Jan
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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15 Jan
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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15 Jan
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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