04 Nov
Chapter News

Results of the September 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)

Easing of overall credit terms and conditions represented a partial reversal of the tightening recorded in the previous two survey rounds Increase in pressure, in particular from non-financial corporate counterparties, to obtain more favourable conditions Valuation disputes decreased for both securities financing and derivatives transactions Survey respondents reported an easing of credit terms and conditions over the June 2020 to August 2020 review period representing a partial reversal of the widespread tightening of credit terms and conditions observed in...

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04 Nov
Chapter News

Digital Europe: EU Council adopts new rules to modernise judicial cooperation in taking of evidence and service of documents

The Council today adopted two recast regulations, one on the taking of evidence and a second on the service of documents, to modernise cross-border exchanges between authorities through digitalisation. After reaching a political agreement with the European Parliament in June 2020, the text will now be submitted to the Parliament for its final adoption. The COVID-19 pandemic has highlighted the need for a modern and digital justice system. The regulations adopted today will allow for faster, more efficient cooperation between...

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04 Nov
COVID-19 News, Member News

CLA | SBA Begins Effort to Assess Economic Necessity for PPP Loans Over $2 Million

Key insights SBA Forms 3509 (for-profit) and 3510 (nonprofit) shed light on how the SBA is likely to assess economic necessity for borrowers with PPP loans of $2 million or more. The loan necessity forms do not introduce any new eligibility standards, but provide previously unknown details on factors to be addressed in the economic necessity assessment. If you are a borrower with a PPP loan of $2 million or more, now is the time to begin to assemble...

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03 Nov
Member News

Fees & Expenses Survey 2020: Who pays what? The tug of war between LPs and GPs

Troutman Pepper, an EACCNY member, recently published this report in association with PEF Services and Withum | This latest iteration of our biennial survey examines how funds are allocating fees and expenses between GPs and LPs. Originated in 2014, this 2020 report shows several emerging trends, including: Key findings from this year’s survey and trends over the years The ILPA effect Role of the LPAC Conflicts over co-investment Who pays for outsourcing costs Fund term extension issues DOWNLOAD REPORT Contacts: Julia Corelli, Partner | julia.corellitroutman.com Stephanie Pindyck Costantino, Partner | stephanie.costantinotroutman.com Genna...

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03 Nov
Member News

CMS Expert Guide on sexual harassment in the workplace

Welcome to our CMS Expert Guide on sexual harassment in the workplace. How different countries responded to the #MeToo movement and how the law regulates workplace harassment on a global scale were key drivers in carrying out this report. 2020 has seen an unprecedented period of workplace change compounded by significant personal uncertainty. As workplaces around the world adjust to new ways of working employers have an opportunity to promote a positive workplace culture and reduce harassment complaints. Offering a range of insights on...

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02 Nov
Chapter News, COVID-19 News

Coronavirus: Von der Leyen presents new preparedness and response measures

President of the European Commission Ursula von der Leyen warned today, 28 October 2020, that situation with COVID-19 was very serious in nearly all EU countries, and called for responsibility to be taken at all levels to slow down the spread of the virus. “Our goal is clear: We need to contain the virus until we have treatments, vaccination and other means to protect everyone's health,” she said. Speaking to the media following the weekly meeting of the College of Commissioners,...

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02 Nov
COVID-19 News, Member News

Brussels airport largest European pharmaceutical hub

While pharmaceutical companies are working feverishly on the development of COVID-19 vaccines, Brussels Airport is preparing, as Europe's No. 1 pharmaceutical hub, for the fast and safe transport of billions of doses all over the world. Air transport of medical equipment requires speed and a constant temperature. Of all European airports, Brussels Airport has the most adequate equipment for large-scale distribution: self-developed mobile cool boxes on batteries and solar panels, high-tech containers and no less than 30,000m² of temperature-controlled storage...

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02 Nov
Member News

BBGFX | November FX Outlook

Several issues that have cast a pall over the business and investment climate are likely to be lifted shortly.  Many still fear that the results of the US election will not be known for an extended period of time, but we note that a metric of fear, the difference between November and December VIX (S&P volatility) futures was at a six-month low before the surge in contagion spurred the biggest equity sell-off in four months as October wound down The...

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02 Nov
Chapter News

ESMA makes new bond liquidity data available

The European Securities and Markets Authority (ESMA), the EU’s Securities Markets Authority, has today made available new data for bonds subject to the pre- and post-trade requirements of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) through its data register. ESMA published the latest quarterly liquidity assessment for bonds available for trading on EU trading venues. For this period, there are currently 499 liquid bonds subject to MiFID II transparency requirements. ESMA’s liquidity assessment for bonds is based...

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02 Nov
Chapter News

Customs Union: EU Commission proposes new ‘Single Window’ to modernise and streamline customs controls, facilitate trade and improve cooperation

The European Commission has today proposed a new initiative that will make it easier for different authorities involved in goods clearance to exchange electronic information submitted by traders, who will be able to submit the information required for import or export of goods only once. The so-called ‘EU Single Window Environment for Customs' aims to enhance cooperation and coordination between different authorities, in order to facilitate the automatic verification of non-customs formalities for goods entering or leaving the EU. The...

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