28 Mar
Member News

Global Taxes LLC | Questions Abound for FinCEN Beneficial Ownership Database

The Financial Crimes Enforcement Network (FinCEN) has issued a Notice of Proposed Rulemaking to implement provisions of the Corporate Transparency Act (CTA) that govern the access to beneficial ownership information (BOI). The regs kick in Jan. 1 next year. A rule issued last fall requires most corporations, LLCs and similar entities created in or registered to do business in the U.S. to report information about their beneficial owners to FinCEN. (“Beneficial owner” is generally an individual with at least 25% of...

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27 Mar
Member News

Jaguar Freight | Weekly Roar Freight Update: Working With What We Got…

In this week’s Roar: the future of globalization, perspectives on digital transformation, ecommerce trends, growing U.S. truck tonnage, and an opportunity for supply chain leaders to step up. A new study shows that despite talk of the end of globalization as the result of many things, like Covid, the U.S./ China trade war, the war in Ukraine, and the UK leaving the European Union, globalization continues to expand. The report indicates that the average distance covered by trade, people, and...

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27 Mar
Chapter News

Investment Committee paves way for first InvestEU projects by EBRD to support green mobility and energy

More than €1.1 billion in finance to be mobilised in sustainable projects, supported by €150 million in InvestEU guarantees Under the InvestEU programme, the European Bank for Reconstruction and Development (EBRD) and European Commission work together to help various EU countries in reaching their full green potential New investments to boost green and sustainable projects in the municipal, transport and energy sectors Funds to benefit Bulgaria, Croatia, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia On...

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27 Mar
Chapter News

Fit for 55: deal on new EU rules for cleaner maritime fuels

Big ships to gradually reduce greenhouse gas (GHG) emissions Containerships and passenger ships at major EU ports to use on shore power supply as of 2030 Ships fuel mix to have at least 2% of specific renewable fuels as of 2034 EU Parliament and Council reached a deal on cleaner maritime fuels, asking to cut ship emissions by 2% as of 2025 and by 80% as of 2050, to help the EU become climate neutral. A provisional agreement reached on...

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27 Mar
Member News

Mason Hayes & Curran | Headlines from the Irish Data Protection Commission’s Annual Report 2022

The Irish Data Protection Commission (DPC) published its Annual Report on 7 March 2023. We examine the headlines and key points organisations should know from the DPC’s round-up of last year’s activities. Headlines The DPC issued fines in excess of €1 billion in 2022. This significant sum amounted to two-thirds of the data protection fines issued across Europe last year. The DPC collected €17,639,500 on behalf of the Irish exchequer in 2022. The (relatively) low collection rate is a result...

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24 Mar
New York Related News

Governor Hochul Announces $7.6 Million Expansion of Schrödinger Headquarters in NYC

Performance-Based Excelsior Jobs Program to Support Creation of Up to 80 New Jobs | Expansion Builds on Prior Investments in Taystee Lab Building, Harlem Biospace to Grow New York's Life Sciences Sector | Governor Kathy Hochul today announced Schrödinger, Inc. - whose physics-based computational platform is transforming the way therapeutics and materials are discovered - is investing $7.6 million to expand operations at its headquarters in New York City. Schrödinger will lease additional space at 1540 Broadway as it grows...

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24 Mar
Member News

Vulcan Insight | EU makes progress on establishing an EU-wide Digital Identity scheme

The EU continues to make significant progress in the establishment of the European Digital Identity (eID). The eID will provide the legal framework to establish national digital wallets that will be interoperable across the EU. Important documentation like travel documents and personal certificates will be made available in an electronic wallet, to allow more convenient navigation for business and citizens across EU borders. On 16 March, the European Parliament adopted its position on the file, allowing inter-institutional negotiations to commence....

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24 Mar
Member News

Steptoe & Johnson | EU Proposes Critical Raw Materials Act and Net Zero Industry Act

On March 16, 2023, the European Commission published its proposal for a Regulation establishing a framework for ensuring a secure and sustainable supply of critical raw materials ("Critical Raw Materials Act" or "CRMA"). The proposal sets out a number of actions aiming to ensure the EU's access to a secure, diversified and sustainable supply of critical raw materials, which are essential for the EU’s strategic sectors, including its green and digital industries, aerospace, and defense sectors. Of note, the CRMA...

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23 Mar
Member News, New York Related News

RPJ Law | New York State and City Propose an End to At-Will Employment

As an employment lawyer, I often find myself having the same difficult conversation with prospective clients who believe they were wrongfully discharged.  I explain that while the circumstances of the termination may seem unfair, if the worker was an at-will employee (like most employees in the United States), then the termination was likely not unlawful unless it involved discriminatory animus.  Even employees who were plainly bullied at work face an uphill battle under the current law, unless that bullying...

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23 Mar
Member News

AICEP Portugal | Foreign investment boosts economy, supports development, says OECD

In 2020, it adds, "companies owned by foreigners represented only about 2% of companies in Portugal, but employed 18% of the national workforce" and were responsible for 46% of exports. Foreign direct investment (FDI) “strengthens the Portuguese economy and supports its development”, says the OECD in the report on the impact of the regulatory framework in Portugal, pointing out that foreign companies account for 25% of R&D. “Foreign investment plays an important role in economic activity and job creation in Portugal,”...

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