26 Feb
Chapter News

Remarks by President Charles Michel following the second session of the video conference of the members of the European Council

Statements and remarks 26 February 2021 14:00 by President Charles Michel | Today we discussed security and defense. We want to act more strategically, to defend our interests and to promote our values. So we need to increase our ability to act autonomously and to strengthen our cooperation with our partners. We are committed to cooperating closely with NATO. A stronger Europe makes a stronger NATO. We exchanged views with Secretary General Stoltenberg about working together to improve our collective security...

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26 Feb
Chapter News

ECB | Speech: Unconventional fiscal and monetary policy at the zero lower bound

Keynote speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Third Annual Conference organised by the European Fiscal Board on “High Debt, Low Rates and Tail Events: Rules-Based Fiscal Frameworks under Stress” | One of the greatest conundrums and policy challenges of our times is the coincidence of persistently low real long-term interest rates and low inflation. Even before the coronavirus (COVID-19) pandemic, inflation across many advanced economies had been falling short of central banks’ aims...

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25 Feb
Member News

European-American Chamber of Commerce New York Congratulates Hippo Technologies, Inc. on Successful Inaugural Year and Welcomes Hippo Technologies as a Platinum Member

NEW YORK CITY, February 25, 2021 | Today, the European-American Chamber of Commerce New York (EACCNY) is pleased to congratulate its member firm Hippo Technologies, Inc., (Hippo Technologies), one of the leading virtual care companies that is delivering solutions for healthcare and medical education, as Hippo Technologies reaches the close of its inaugural year in business. Hippo Technologies’ flagship product, the Hippo Virtual CareTM (HVC) platform, was introduced to the market through more than 20 hospitals across China at the...

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25 Feb
Member News

Orrick | The Next Step: FinCEN Proposes to Require Reporting of Cryptocurrency Positions Held in Foreign Accounts

FinCEN recently took another important step toward bringing virtual currency into the financial assets reporting scheme. Taxpayers that have $10,000 or more in a foreign bank account have long been required to file a foreign bank account report (or “FBAR”) on FinCEN Form 114. The penalties for failing to report foreign bank accounts are significant: $10,000 for a non-willful failure and the greater of $100,000 and up to 50 percent of the unreported account balance for willful failures. While the...

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25 Feb
Member News

Offit Kurman | Many US and Foreign Companies in the US Will Need to Disclose Ownership

On January 1, 2021, the Corporate Transparency Act of 2019 (the “CTA”) became law.  The CTA is part of the newly enacted Anti-Money Laundering Act (“AMLA”), and is intended to fight money laundering and terrorism through the anonymous use of shell companies.  Under the CTA, many US and foreign companies registered in the US will need to disclose their beneficial ownership to the Financial Crimes Enforcement Network of the US Treasury (“FinCEN”).  Unlike in some foreign countries, including in Europe,...

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25 Feb
COVID-19 News, Member News

Cozen O’Connor | I-9 Documentation Review Amidst the COVID-19 Pandemic

As we approach April 1, 2021, employers should be aware of the ever-changing policies and procedures surrounding their requirements to complete the Employment Eligibility Verification Form I-9 (and E-Verify if they have registered to use it or are required to use it by law) for all new hires. Traditionally, the document inspection requirements of Form I-9 were completed in person when the new hire was going through the onboarding process of a new position, requiring the employee to complete...

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25 Feb
Chapter News

EU Commission proposes new Regulation to ensure EU travellers continue to benefit from free roaming

To ensure that citizens can continue to enjoy roaming without additional charges when travelling in the EU, the Commission proposed today a new Roaming Regulation. At a time when non-essential travel is discouraged, this is an important action in preparing a brighter future. The new regulation will prolong the current rules that are due to expire in 2022, for another 10 years. It will also ensure better roaming services for travellers. For example, consumers will be entitled to have the...

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25 Feb
Chapter News

Building a Climate-Resilient Future – A new EU Strategy on Adaptation to Climate Change

The European Commission adopted today a new EU Strategy on Adaptation to Climate Change, setting out the pathway to prepare for the unavoidable impacts of climate change. While the EU does everything within its power to mitigate climate change, domestically and internationally, we must also get ready to face its unavoidable consequences. From deadly heatwaves and devastating droughts, to decimated forests and coastlines eroded by rising sea levels, climate change is already taking its toll in Europe and worldwide....

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25 Feb
Chapter News

ECB | Interview: Fiscal and monetary support are crucial

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Ingūna Ukenābele on 22 February 2021 | How would you describe the current economic situation in the euro area? In the course of the pandemic, we have experienced the deepest economic downturn since World War II. After the strong decline in economic activity following the first wave of infections in the spring of 2020, we saw a strong rebound, supported by the decisive fiscal and monetary policy...

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25 Feb
Chapter News

OECD calls on countries to crack down on the professionals enabling tax and white collar crimes

Countries should increase efforts to better deter, detect and disrupt the activities of professionals who enable tax evasion and other financial crimes, according to a new OECD report. Ending the Shell Game: Cracking down on the Professionals who enable Tax and White Collar Crimes explores the different strategies and actions that countries can take against those professional service providers who play a crucial part in the planning and pursuit of criminal activity, referred to in the report as “professional enablers.”...

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