20 Jan
Member News

Ogletree | Rulemaking Redux: DOL Issues Updated Final Rule Adjusting Wage-Level Calculations for H-1B, H-1B1, and E-3 Visa and PERM Cases

On January 12, 2021, the U.S. Department of Labor (DOL) announced an updated final rule designed to increase prevailing wages required for certain visa processes. The updated rule, entitled “Strengthening Wage Protections for the Temporary and Permanent Employment of Certain Aliens in the United States,” is the DOL’s second attempt in recent months to revise how the existing four-tiered wage structure of the Occupational Employment Statistics (OES) wage survey is calculated for purposes of determining prevailing wages. If the rule...

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20 Jan
Chapter News

ECB | January 2021 euro area bank lending survey

Credit standards tightened for loans to enterprises and households Firms’ demand for loans continued to decline, while demand for housing loans increased Government guarantees on loans to firms supported bank lending conditions Credit standards – i.e. banks’ internal guidelines or loan approval criteria – tightened across all loan categories, namely loans to enterprises, loans to households for house purchase and consumer credit and other lending to households in the fourth quarter of 2020, according to the January 2021 bank lending survey (BLS). The net...

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20 Jan
Chapter News, COVID-19 News

IMF | What the Continued Global Uncertainty Means for You

Global uncertainty reached unprecedented levels at the beginning of the COVID-19 outbreak and remains elevated. The World Uncertainty Index—a quarterly measure of global economic and policy uncertainty covering 143 countries—shows that although uncertainty has come down by about 60 percent from the peak observed at the onset of the COVID-19 pandemic in the first quarter of 2020, it remains about 50 percent above its historical average during the 1996–2010 period. 'Uncertainty in systemic economies matters for uncertainty around the world.' What drives global uncertainty? Economic...

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20 Jan
Member News

Trepp | European market update: supermarkets become dream properties; CLO managers shift to Ireland

Since the start of the pandemic, the challenges faced by traditional brick and mortar retail with store closures and bankruptcies being announced at record rates, has been a major topic for the CRE industry.  One retail segment – the supermarket – faced record high sales, making it an investors dream.  Read on for the numbers and what it can mean for investors, as well as what can change in the future. Also making headlines last week was a new funding...

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20 Jan
COVID-19 News, Member News

TABS | Update Paycheck Protection Program

The Small Business Administration (SBA) published their guidelines for the Second Round of PPP loans (“PPP2”) which was signed into law late December (The Consolidated Appropriations Act, 2021). This is the second largest federal stimulus package following the previous CARES Act that was signed earlier in 2020. This second round offered another round of Paycheck Protection Loans (“PPP2”), which could potentially benefit some of TABS’ clients. Like the first round of PPP, the loans are meant to help small businesses who...

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20 Jan
Member News

WSGR | European Commission Proposes New Rules for Digital Platforms

On December 15, 2020, the European Commission (EC) unveiled a set of proposals to regulate digital platforms. The draft laws include antitrust-related requirements, addressed by the Digital Markets Act (DMA) and more general regulatory requirements, addressed in the Digital Services Act (DSA). The DMA/DSA package will apply to all digital services, including social media, online marketplaces, and other online platforms, meaning tech companies active in Europe will have a new set of rules to follow. According to the EC, the...

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20 Jan
Member News, Trade & TTIP Related

Orrick | The Practical Implications of the EU-China Investment Deal

On December 30, 2020, the EU and China announced the conclusion of the negotiations of the investment treaty, the EU-China Comprehensive Agreement in Investments (CAI). The CAI represents a strategic opportunity for EU companies, financial institutions and funds to invest in China. This treaty contains two significant overarching commitments by China: market access and fair competition. The CAI did not appear overnight and certainly not without hard work on both sides; it took seven years and 35 rounds of...

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19 Jan
Brexit News, Chapter News

European Commission reorganises the “Task Force for Relations with the United Kingdom” into the “Service for the EU-UK Agreements”

The conclusion of the EU-UK Trade and Cooperation Agreement on 24 December 2020 means that the very successful mandate of the Task Force for Relations with the United Kingdom (UKTF) will come to an end. The UKTF will cease to exist on 1 March 2021. To support the efficient and rigorous implementation and monitoring of the Agreements with the UK, the European Commission has decided to establish a new Service for the EU-UK Agreements (UKS). The UKS will be part...

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19 Jan
Member News

Vulcan Insight | CDU leadership battle set to shape Germany and Europe’s future direction

After almost two decades at the helm of Germany’s centre-right CDU, and more than 15 years as Chancellor, Angela Merkel is set to step back from politics. This weekend, the CDU’s party congress is set to decide who will lead the party and, thus, most likely take Germany into the 26 September General Election campaign. After months-long delays caused by the COVID-19 pandemic and debates around whether the congress should be held in-person, the three candidates will now be elected...

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19 Jan
Member News

Houthoff Financial Regulatory Update | Reporting incidents, anti-money laundering, sustainable finance and more

In this News Update, we inform you on the obligation to report incidents immediately, analyse some EU anti-money laundering developments, and update you on the secondary legislation associated with the Taxonomy Regulation. Finally, we highlight some other important financial regulatory publications. AFM – call for reporting incidents immediately The Dutch Authority for the Financial Markets ("AFM") recently called on the companies under its supervision to report incidents immediately. Due to the coronavirus outbreak and the increase in working from home, integrity and information...

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