Starting from 1st December 2014, certain financial companies have become subject to reporting obligations to the Banque Centrale du Luxembourg (the "BCL") as a result of the entry into force of the Regulation No 2014/17 dated 21 July 2014 (the "New BCL Reporting Regulation") of the BCL. What is the background of the reporting obligations? The Council Regulation (EC) No 2533/98 of 23 November 1998 established the framework of statistical reporting obligations (the "Reporting Obligations") for financial institutions and designated the...

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Goldberg Segalla, one of the fastest-growing law firms in the United States, will further expand its U.S. footprint when it opens a new office in St. Louis on March 1. St. Louis will be home to Goldberg Segalla’s 13th office, highlighting the dynamic growth that has defined the 200+ lawyer firm since it was founded in 2001. The St. Louis office will be launched by a team of five lawyers led by Kurtis B. Reeg, a nationally recognized insurance coverage,...

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With today’s date marking Data Privacy Day 2015, we look back on some of our top stories in the past year. We also glance forward to the coming 12 months and what they may hold for privacy law. It is important to point out that the last few years have unfolded to the backdrop of Edward Snowden’s allegations of mass surveillance and data collection. This is reflected, in some sense, in the court decisions and stories arising in that...

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Being knowledgeable in CMBS is a lot like being a good comedian or being successful at Jeopardy, it certainly helps to know a little bit about a lot of different topics. Good CMBS investors can rattle off the prospects of retailers like Sears and J.C. Penney; they know what cities, borrowers, and buildings could be impacted by $40 oil; they now know how to pronounce Lake Pontchartrain; and they have a grasp of the potential affect of the sequester on...

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Last year proved to be full of unprecedented challenges to the cybersecurity infrastructure of the U.S. economy. Security breaches at Sony Pictures, Target, Apple, JPMorgan, and Home Depot have featured prominently in the news cycle over the past year and highlighted the many risks faced by public companies and their board members. Indeed, the National Association of Corporate Directors has listed cybersecurity as one of the three critical challenges for public company directors in 2015, and not without good...

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DS-Concept Factoring, a global commercial finance company specializing in international non-recourse factoring, has provided a $4 million export accounts receivable facility to a multinational shrimp exporter headquartered in Spain with facilities in the US and Argentina. The client, who provides cold water shrimp to retailers and wholesalers in Europe, Asia, the US, and GCC, is growing rapidly because of falling exports from the US and anticipates a total factored volume in excess of $30 million for 2015. "We’re very pleased...

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Lena Beck Rørvig, CEO and Founder of EACCNY member Beck Global Consulting, is launching her new concept braggingforwomen  in New York City on January 27th, 2015. What is braggingforwomen? For Creator and Founder Lena Beck Rørvig, the mission is to give women the tools, guidance and encouragement to advocate for themselves at their workplace. Give them the confidence and inspiration to be proud of who they are and what they have accomplished and can accomplish. By Lena Beck Rørvig: "I am very excited about this new wave towards...

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The price of oil dropped several more percentage points on Monday, falling below $50 for the first time since 2009. We do not pretend to be experts in Texas or Oklahoma geography, but we did take a crack at trying to put together a list of loans in certain geographies that could be affected by plummeting oil prices. Our analysts started by creating a list of zip codes that fell within the shale drilling areas. (One such shale map is here). From there,...

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