14 Dec
Member News, New York Related News

Littler | New York City Council Passes Paid COVID-19 Child Vaccination Leave

On November 23, 2021, the New York City Council passed a bill amending its Earned Safe and Sick Time Act requiring all private-sector employers to provide their employees with four hours of paid COVID-19 child vaccination leave for each of their children, per vaccine injection, retroactive to November 2, 2021. The approved bill is now before New York City Mayor Bill de Blasio and will take effect immediately upon his signature. What does the law require? The amendment requires private employers covered by...

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14 Dec
Chapter News

IMF | Making Electronic Money Safer in the Digital Age

As e-money use grows, regulators need to focus on consumer protection and the integrity of the overall payments system. Imagine you go to pay for your morning coffee and your stored-value card returns an error message, or the wallet in the payments app on your phone isn’t opening because the company providing the payment service has gone bankrupt. Worse, what if you live in a rural area and the e-money service provided through your mobile phone was the only access...

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14 Dec
Member News

FTI Consulting to Expand European Footprint in Netherlands with Acquisition of BOLD

We are pleased to announce that FTI Consulting has entered into a definitive agreement to acquire BOLD, a leading turnaround, transactions, digital and transformation advisory firm in the Netherlands. The acquisition will extend our offering even further across Continental Europe and is part of our wider growth strategy for Europe, the Middle East and Africa (“EMEA”) region. Founded in 2013 by Klaas Wagenaar and Gerrit van Munster, BOLD helps businesses become and stay relevant and successful in times of strategic...

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14 Dec
Member News

Cozen O’Connor | In extremis — PPP Money Is Not “Free” So Applicants & Recipients Need to Beware

As most of the population is aware, to try and preserve the economy and businesses viable during the COVID-19 pandemic, congress passed the CARES Act. That bill included the Payroll Protection Program (PPP), in which small businesses could receive government funded loans to cover certain payroll costs to help employee finances during the shutdown that the country experienced in 2020. With this federally financed program, also came requirements, policies, procedures, and anti-fraud tools that have resulted in investigations and enforcement...

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14 Dec
Chapter News

Government support cushions tax revenues in OECD countries from the worst impacts of the COVID-19 crisis

The impact of the COVID-19 pandemic on tax revenues was less pronounced than during previous crises, in part due to government support measures introduced to support households and businesses, according to new OECD research published today. The 2021 edition of the OECD’s annual Revenue Statistics publication shows that the OECD average tax-to-GDP ratio has risen slightly to 33.5% in 2020, an increase of 0.1 percentage points since 2019. Although nominal tax revenues fell in most OECD countries, the falls in countries’...

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13 Dec
Chapter News

Competition: EU-US launch Joint Technology Competition Policy Dialogue to foster cooperation in competition policy and enforcement in technology sector

Today, European Commission Executive Vice-President Margrethe Vestager, US Federal Trade Commission Chair Lina Khan and the Assistant Attorney General for Antitrust of the US Department of Justice Jonathan Kanter have launched the EU-US Joint Technology Competition Policy Dialogue in Washington DC. The European Commission, the US Federal Trade Commission and the US Department of Justice have issued a joint statement. Margrethe Vestager, European Commission Executive Vice-President in charge of competition policy, said: “The European Commission and the US competition authorities have a longstanding tradition...

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10 Dec
Member News

Vulcan View The latest EU developments – December 10, 2022

EU set to use trade to strengthen its foreign affairs powers On Wednesday, the European Commission proposed a new economic trade defence tool to protect itself and its Member States from coercion by third states. The new tool is a direct result of EU Member States having increasingly become the target of third countries looking to exert economic pressure on them in recent years for political concessions. Specifically, the Commission’s new “anti-coercion” tool comes after the U.S. administration under Donald Trump...

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09 Dec
Member News

Via secures $130M in Series G financing at $3.3B valuation

Via’s TransitTech revenue has more than doubled in the last year as demand for its software grows globally November 30, 2021 (New York, NY) — Via, the global leader in TransitTech, today announced $130 million in new funding at a post-money valuation of $3.3 billion. The round was led by Janus Henderson with participation from funds and accounts managed by BlackRock, ION Crossover Partners, Koch Disruptive Technologies, and existing investor Exor. Demand for software that can transform legacy transportation systems into advanced...

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09 Dec
Chapter News

IMF | Global Crypto Regulation Should be Comprehensive, Consistent, and Coordinated

The IMF’s mandate is to safeguard the stability of the international monetary and financial system, and crypto assets are changing the system profoundly. Crypto assets and associated products and services have grown rapidly in recent years. Furthermore, interlinkages with the regulated financial system are rising. Policymakers struggle to monitor risks from this evolving sector, in which many activities are unregulated. In fact, we think these financial stability risks could soon become systemic in some countries. 'Uncoordinated regulatory measures may facilitate potentially...

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09 Dec
Member News

Switzerland backs diversification of trade partners

Bern – Switzerland plans to further develop bilateral ties with the EU. At the same time, links with other important trade partners are to be strengthened, including with the USA and China. This is stipulated in the federal government’s revised foreign economic policy strategy. The Federal Council published its revised foreign economic policy strategy on Wednesday. According to a press release, this serves to “set the course for the federal government's foreign economic policy in the medium to long term”. It aims...

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