09 Apr
Chapter News

IMF | Fast-Growing $2 Trillion Private Credit Market Warrants Closer Watch

Blog post by Charles Cohen, Caio Ferreira, Fabio Natalucci, Nobuyasu Sugimoto |  The private credit market, in which specialized non-bank financial institutions such as investment funds lend to corporate borrowers, topped $2.1 trillion globally last year in assets and committed capital. About three-quarters of this was in the United States, where its market share is nearing that of syndicated loans and high-yield bonds. This market emerged about three decades ago as a financing source for companies too large or risky for commercial banks...

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09 Apr
Member News

CLA | EPA Announces $20 Billion in Clean Energy Grants to Selected Nonprofits

The U.S. Environmental Protection Agency announced its selection for $20 billion in grant awards under two competitions within the historic $27 billion Greenhouse Gas Reduction Fund (GGRF), which was created under the Inflation Reduction Act. The EPA chose three nonprofits under the National Clean Investment Fund and five nonprofits under the Clean Communities Investment Accelerator to create a national clean financing network. Agreement to prioritize climate goals Collectively, the nonprofits have committed to help make significant impact toward the Biden-Harris administration’s climate goals. The eight...

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05 Apr
Member News, Uncategorized

Quebec Government Prioritizes Health & Education in its Budget

In the Québec Budget Plan published in late March 2024, the government is prioritizing funding for health and education services. It is strengthening its support for Quebecers and communities, and acting on economic priorities while taking steps to optimize government action. It is presenting a fair and transparent portrait of the state of public finances and reiterating its firm commitment to restoring fiscal balance after deposits in the Generations Fund. A plan will be tabled when Budget 2025-2026 is released,...

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05 Apr
Member News

Wilson Sonsini | SEC Pauses Climate Disclosure Rules Amid Legal Challenges

On April 4, 2024, the U.S. Securities and Exchange Commission (SEC) issued an order (the Order) implementing a stay of its final climate-related disclosure rules1 adopted on March 6, 2024 (the Final Rules). For more information on the Final Rules, please see our previous client alert. Following adoption of the Final Rules, several legal challenges emerged asserting, in most cases, that the Final Rules were too far reaching and, in other cases, did not reach far enough. The legal challenges to the Final Rules...

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05 Apr
Member News

Troutman Pepper | Exploring Challenges and Opportunities Within the EV Infrastructure Sector With Kerri Stewart (podcast)

In this month's episode of the TAG Infrastructure Talks, host Alan Poole sits down with Kerri Stewart, chief strategy officer of Miller Electric, to discuss the challenges and opportunities in the electronic vehicle (EV) charging infrastructure sector. They cover charger compatibility and availability, the impact of aging infrastructure, and initiatives aimed at addressing these problems. This episode also highlights available funding to enhance EV charging infrastructure, and the competition between private companies and utilities in this market.   You can listen to...

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05 Apr
Member News

Bennett Jones | Fintech in Canada Q1 2024

As we highlighted in our last quarterly Fintech update in 2023, a new regulatory framework under the Retail Payments Activities Act (RPAA) will soon affect all retail payment service providers (PSPs) doing business in Canada. PSPs will be able to register with the Bank of Canada from November 1 to 15, 2024, with compliance obligations to take effect in 2025. The Bank of Canada recently released draft supervisory guidelines to help PSPs understand those compliance obligations (copies of which can be found on the Bank of...

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05 Apr
Member News

Bannockburn Global Forex | US Employment Data to Set Dollar’s Course

The focus is squarely on the US employment report. At the risk of oversimplifying, given the position adjustment in the past 48 hours, a solid report can see the greenback recover, while a disappointing report will likely see it deepen the correction of the rally that began with the February jobs report. The dollar recovered in the North American afternoon yesterday and many observers attributed it to the bevy of Fed comments. Yet, the interest rate market saw little...

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05 Apr
Member News

PwC | Tokenization in Financial Services: Delivering Value and Transformation

In our current constrained market with high interest rates, financial institutions are looking for new revenue streams and for ways to speed up operations and cut costs. A blockchain-based technology, tokenization, can help deliver value in these areas, right now. Tokenization lets you digitally represent asset ownership for any tangible or intangible asset — stocks or bonds, cash or cryptocurrency, data sets or loyalty points — on a blockchain. Once your asset is represented by a token, you can quickly...

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05 Apr
Chapter News

European Commission | Joint Statement EU-US Trade and Technology Council of 4-5 April 2024 in Leuven, Belgium

The sixth ministerial meeting of the Trade and Technology Council (“TTC”) took place in Leuven, Belgium, on 4 and 5 April 2024. It was co-chaired by European Commission Executive Vice President Margrethe Vestager, European Commission Executive Vice President Valdis Dombrovskis, United States Secretary of State Antony Blinken, United States Secretary of Commerce Gina Raimondo, and United States Trade Representative Katherine Tai, joined by European Commissioner Thierry Breton, and hosted by the Belgian Presidency of the Council of the European...

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04 Apr
Member News

Arendt | EU Parliament adopts final version of AI Act: key takeaways

The first comprehensive AI regulation in the world aims for strong protection against harmful impacts. What does that mean? 1. Context After much anticipation, the EU Parliament formally adopted the final version of the proposal for an EU regulation laying down harmonised rules on artificial intelligence (AI Act) on 13 March 2024. The text is still subject to a final lawyer-linguist check and needs to be formally endorsed by the Council of the EU. Initially proposed by the EU Commission in...

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