Chapter News

Remarks by President von der Leyen at the press conference at the end of her visit to China

I want to debrief you on a comprehensive day of high-level discussions we had today here in Beijing. I met with President Xi, both in a joint meeting with President Emmanuel Macron and then in a bilateral meeting. I also had a meeting with Prime Minister Li. Let me start with EU-China relations. It is an extensive and complex relationship that we have. For both of us, this relationship has a significant impact on our prosperity and our security. For...

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Member News

CLA | ChatGPT in Healthcare and Life Sciences: A Candid Interview with ChatGPT

I just interviewed ChatGPT. I was in a jam. I had volunteered to write a blog about ChatGPT. ChatGPT is taking off faster than any technology or innovation I’ve seen in a long while. It attracted an astounding 1 million users in 5 days and over 100 million in just 2 months. Since CLA works with over 10,000 healthcare and life science clients, we don’t want any of them to get left behind by new innovations. Rather than wait for...

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Member News

CEA Legal | Generative Ai: Potential Legal Violations And Precautions To Avoid Them

Generative AI is a type of Artificial Intelligence (AI) that focuses on creating new data rather than recognizing patterns in existing data. This type of AI uses deep learning algorithms to generate content such as images, videos, audio, text, and other kinds of media based on certain parameters or conditions. Generative AI has the potential to create unique content from scratch without any external input and can be used in various applications such as facial recognition, natural language processing...

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Member News

Steptoe | Fifty Shades of Green: European Commission Proposes to Tackle Greenwashing by Regulating Voluntary Green Claims

On March 23, 2023, the European Commission published a proposal for a Directive on substantiation and communication of explicit environmental claims ("Green Claims Directive"). This proposal aims to tackle so-called greenwashing claims by regulating how companies communicate and substantiate voluntary environmental claims. Scope The proposal will regulate voluntary environmental claims and environmental labeling provided by traders in business-to-consumer commercial practices. The notion of "environmental claims" is broadly defined and covers any message or representation, including text, pictorial, graphic or symbolic representation, in...

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Member News

TABS Inc. | Requirement to File Form 5471 with Corporate Income Tax

An unintended consequence of the Tax Cuts and Jobs Act passed during the Trump Presidency is that far more tax filers are now required to file Form 5471; this includes nearly all of TABS’s clients with overseas parents. The Internal Revenue Code previously only required a U.S. taxpayer who owned a certain portion of a controlled foreign corporation (“CFC”) to file Form 5471 – the form’s title is Information Return of U.S. Person with Respect to Certain Foreign Corporations. This was...

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Chapter News

IMF | Geopolitics and Fragmentation Emerge as Serious Financial Stability Threats

Rising tensions could trigger cross-border capital outflows and increased uncertainty that would threaten macro-financial stability Concerns about global economic and financial fragmentation have intensified in recent years amid rising geopolitical tensions, strained ties between the United States and China, and Russia’s invasion of Ukraine. Financial fragmentation has important implications for global financial stability by affecting cross-border investment, international payment systems, and asset prices. This in turn fuels instability by increasing banks’ funding costs, lowering their profitability, and reducing their lending to...

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Member News

Global Taxes LLC | Calls for U.S. Wealth Tax Again Grow Louder – But Any More Effective?

After years of debate, discussion and indecision over income gaps, some states have proposed laws to tax the uber-rich even as President Biden calls for the same. Is America ready to cross this major threshold of taxation? The U.S. may or may not eventually tax the wealthy – but some states aren’t waiting to see. Wealth tax proposals have been put forward – with varying success, observers say – in California, Connecticut, Hawaii, Illinois, Maryland, New York and Washington. Other states...

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Member News

Fenwick | ESG Insights: Silicon Valley’s Largest Public Tech and Life Sciences Companies Stepped Up ESG Reporting Last Year

Environmental, social and governance (ESG) concerns and how companies respond to them continue to generate scrutiny from a large number of stakeholders. Last year, in our ESG in Silicon Valley: A Look at the ESG Disclosure Practices of the SV 150 we examined how technology and life sciences companies were responding to the growing interest in ESG and related disclosure by looking at the voluntary ESG reporting practices of the companies included in the 2022 Fenwick-Bloomberg Law SV 150...

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Member News

Fortune Names BNY Mellon One of America’s Most Innovative Companies

BNY Mellon today was named to Fortune’s inaugural “America’s Most Innovative Companies” list. The firm ranks in the top half of 300 honorees that were selected out of 15,000 eligible companies, based on criteria including innovation in products, processes and culture. "I’m proud to see America’s oldest bank named one of America’s Most Innovative Companies by Fortune," said CEO Robin Vince. "We have a long history as a financial industry pioneer. In the past decade alone, we were the first...

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Member News

AlixPartners | Five questions to profitably know, find, and retain customers versus just chasing transactions

Whether you are an online-only retailer or have many stores, your digital presence is likely your single largest entry point to your brand. In-person human interactions remain important, but our constant connection to our devices has forever changed how we discover, research, buy, and use products and services. However, this constant chase for new customers and individual transactions can be draining on profits as customer acquisition costs are at all-time highs. At the same time, policies and customer expectations continue...

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