22 May
Chapter News

Cooperation between national taxation authorities: EU Council puts the spotlight on crypto-assets and the wealthiest individuals

The Council has reached agreement on its position (general approach) regarding amendments to the directive on administrative cooperation in the area of taxation. The amendments mainly concern the reporting and automatic exchange of information on revenues from transactions in crypto-assets and information on advance tax rulings for the wealthiest (high-net-worth) individuals. The aim is to strengthen the existing legislative framework by enlarging the scope for registration and reporting obligations and overall administrative cooperation of tax administrations. Today we are strengthening...

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22 May
Member News

Arendt | Updated ESMA Guidelines on MiFID II product governance requirements

On 27 March 2023, the European Securities and Markets Authority (“ESMA”) published its Final report on Guidelines on MiFID II product governance requirements (the “2023 Guidelines”). 1. Background The 2023 Guidelines, which were preceded by a consultation paper (“CP”), replace the previous version of the guidelines issued by ESMA in 2017 and take account of recent regulatory and supervisory developments. 2. Aim According to ESMA, the 2023 Guidelines’ main aims are to: reduce the risk of mis-selling and its related financial consequences; reduce...

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19 May
Member News

Vulcan Insight | European Commission Proposes the Creation of a New EU Customs Authority

This week, the European Commission presented a comprehensive reform of the EU Customs Union which will harmonise how customs operate across the EU. Executive Vice President of the European Commission, Valdis Dombrovskis, welcomed the proposed reform describing it as part of the Commission’s “plan to strengthen the EU’s open strategic autonomy”. Commissioner Dombrovskis explained that the reform would “enable EU customs to better defend our financial and economic interest, while ensuring the safety and security of goods entering the...

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19 May
Member News

USAM Group’s Sales Slicer Wins Tech + Innovation Challenge

Game-Changing Platform for Enterprise Sales Makes Commercial Debut. NEW YORK – May 17, 2023 – USAM Group, the distinctive provider of outsourced sales, marketing, and advisory services to growth-stage technology innovators, is excited to announce that Sales Slicer, its unique sales and business intelligence tool, was awarded first place in the Enterprise division of the 2023 Queens (NY) Tech + Innovation Challenge. USAM developed Sales Slicer to bring transparency and accuracy to the enterprise sales process, making it more predictable with...

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19 May
Member News

Global Taxes LLC | International Taxpayers One Big Focus of New IRS Plan

The Internal Revenue Service has released its strategic operating plan for the next decade, the agency’s blueprint for how it plans to spend $80 billion in funding that was green lighted by last year’s passage of the Inflation Reduction Act. More than $45 billion of the funding is slated for enforcement. The IRS will also be hiring tens of thousands of new employees, partially to make up for ongoing attrition and years of declining funding and staffing. The remainder of...

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19 May
Chapter News

Body language? FTC issues policy statement about misuse of biometric data

As Emelia asked in Act V of Comedy of Errors, do “mine eyes deceive me?” Sorry to get all Shakespearean, but our eyes (and face, fingerprints, etc.) can reveal a lot of information about us – data that can be misused in deceptive or unfair ways. The FTC just issued a Policy Statement on Biometric Information and Section 5 of the Federal Trade Commission Act and it’s a must-read for businesses. The increasing use of consumers’ biometric information – and...

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17 May
Member News

CILcare announces the launch of the OrgaEar Project with SATT AxLR and the University of Montpellier

Montpellier, France – May 17th, 2023 | CILcare, a company specialized in the research and development of new therapies for auditory pathologies, and SATT AxLR are launching the OrgaEar project with the Bioengineering and Nanosciences Laboratory (LBN – EA4203) of the University of Montpellier, directed by Professor Azel Zine. OrgaEar, based on human induced pluripotent stem cell technology and 3D cell culture, aims to generate cochlear organoids containing neurosensory cells from the human inner ear. While very few drug solutions...

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17 May
Member News

Datacolor acquires matchmycolor

May 16, 2023 | Datacolor AG, a global leader in color management solutions, announces the acquisition of matchmycolor LLC, a technology company specialized in color formulation and communication software. Datacolor consolidates matchmycolor as of January 1, 2023. The costs for the acquisition and the integration will affect fiscal years 2022/23 and 2023/24. The strategic acquisition strengthens Datacolor's market position and further expands its global industry presence in color management. With over 50 years of industry experience, Datacolor has established itself as...

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16 May
Member News

BBGFX | Week Ahead: Does the Dollar have Legs?

There are different ways to measure it, but the dollar just put in its best week of the year. The greenback rose against all the G10 currencies, and the Dollar Index rose by the most since last September. It also appreciated against most emerging market currencies, with the notable exceptions of a handful of Latam currencies. It seems to be an overdue technical correction. Few genuinely believe that the US will default given the ominous consequences, but the dysfunctional...

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16 May
Chapter News

Spring 2023 EU Economic Forecast: An improved outlook amid persistent challenges

The European economy continues to show resilience in a challenging global context. Lower energy prices, abating supply constraints and a strong labour market supported moderate growth in the first quarter of 2023, dispelling fears of a recession. This better-than-expected start to the year lifts the growth outlook for the EU economy to 1.0% in 2023 (0.8% in the Winter interim Forecast) and 1.7% in 2024 (1.6% in the winter). Upward revisions for the euro area are of a similar...

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