31 Jul
Chapter News

ESMA performs an analysis of the cross-border investment activity of firms

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, and national competent authorities (NCAs) completed an analysis of the cross-border provision of investment services during 2022. The increase in the cross-border provision of financial services has benefits for consumers and firms, as it fosters competition, expands the offer available to consumers and the market for firms. However, it also requires that NCAs intensify their efforts and focus more on the supervision of cross-border activities and...

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31 Jul
Member News

BNY Mellon | Greater integration in collateral management

Initially published in Securities Finance Times, Issue 332, 25 July 2023 | Brian Ruane, senior executive vice president, global head of clearance and collateral management at BNY Mellon, recently met with Justin Lawson to discuss the firm’s growing collateral business, connecting to new pools of collateral and how to integrate the voice of the client. What are some of the major trends you are seeing in collateral management? Collateral management is an integral part of our clients’ funding, trading and business models...

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31 Jul
Member News

Fenwick | New Official Guidance on Voluntary Self-Disclosure of Trade Control Violations

On July 26, 2023, the U.S. Department of Commerce, Bureau of Industry and Security (BIS), the U.S. Department of the Treasury Office of Foreign Asset Control (OFAC) and the U.S. Department of Justice (DOJ) released joint compliance guidance discussing the Voluntary Self-Disclosure (VSD) policies of the respective agencies. The purpose of the guidance is to highlight recent updates to the VSD policies; emphasize the importance of compliance with sanctions, export controls and other laws related to national security; and...

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28 Jul
Chapter News

FSB | Final Reflections on the LIBOR Transition

In 2013, the Financial Stability Board (FSB) established the Official Sector Steering Group (OSSG) with the view of promoting the effective collaboration of the global official sector towards the end goal of successful transition to robust benchmarks, including the transition away from LIBOR. After a decade of preparation, the LIBOR transition has entered its final stage. The end of June 2023 marked the final major milestone in the LIBOR transition with the end of the remaining USD LIBOR panel. Only...

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28 Jul
Member News

ACG Resources | Four Habits Successful People Don’t Have

There is no “secret formula” to becoming a success, but it would be a whole lot easier if there were! What it comes down to in most cases is talent, determination, perseverance, dumb luck, or (most often) some combination thereof. While there may not be a surefire step-by-step road to success, there are certainly some habits that won’t get you there. If you’re looking for ways to become more successful in your career, instead of focusing on what else...

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28 Jul
Member News

Vulcan Insight | Assessing 2023 in EU politics – a half-year recap

Racing to finalise climate and environment files before next year’s elections By Pascal Koenig – Senior Account Manager Two years after the European Commission published its sprawling Fit for 55 package, the first have of this year saw many of the Commission’s legislative proposals being concluded by the European Parliament and the Swedish Council Presidency. Work on climate and environment issues has been both intensive and progressive, as the EU’s co-legislators finalised their negotiations on key files such as the end...

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27 Jul
Member News

Littler | USCIS Announces Alternative Procedure for Completion of Form I-9 – Permanent Virtual Verification

In an ever-evolving digital landscape, the United States Citizenship and Immigration Services (USCIS) has given employers a new option for verifying employment eligibility. On July 21, 2023, the USCIS announced a final rule, effective August 1, 2023, that allows employers to have an alternative procedure (also referred to as “permanent virtual verification”), whereby qualifying employers may inspect employees’ Form I-9 documentation virtually as opposed to performing a physical verification, which was required for all new hires until the COVID-19...

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27 Jul
Member News

Osborne Clarke | What US and UK companies need to know as the Platform Workers Directive edges nearer

Adoption looks likely over the next 12 months after the EU ministers agreed their position on the proposals The basis of the potentially far-reaching Platform Workers Directive (PWD) was agreed at European Union ministerial level in June 2023. The legislation is likely to be adopted soon. It will apply to gig workers but will also affect UK and US-based companies using or supplying contract workers on a volume basis.  It increasingly looks like the PWD will be adopted later this year...

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26 Jul
Member News

DeMarco Law PLLC | Lieutenant Colonel Kurt Sanger to join the DeMarco Law team

"We are delighted to announce that Lieutenant Colonel Kurt Sanger, previously Deputy General Counsel of U.S. Cyber Command, has joined DeMarco Law. At Cyber Command, and over twenty years as an attorney with the U.S. Marine Corps, Kurt handled numerous high profile cyber incidents, developed cybersecurity policies to protect operational and critical infrastructure, and addressed multiple sensitive information technology and data privacy law and policy issues. He will add great value to the Firm and our Clients in these...

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25 Jul
Chapter News

Chips Act: EU Council gives its final approval

The Council has today approved the regulation to strengthen Europe's semiconductor ecosystem, better known as the 'Chips Act'. This is the last step in the decision-making procedure. The Chips Act aims to create the conditions for the development of a European industrial base in the field of semiconductors, attract investment, promote research and innovation and prepare Europe for any future chip supply crisis. The programme should mobilise €43 billion in public and private investment (€3.3 billion from the EU budget),...

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