On 2 July 2020, the Court of Justice of the European Union (“CJEU”) ruled in the case of BlackRock Investment Management (UK) Ltd (C-231/19) that a “single supply” of management services, provided by a third-party supplier via a software platform for the benefit of a fund management company managing both special investment funds and other funds, does not fall within the VAT exemption provision. Background BlackRock Investment Management (UK) Ltd (“BlackRock”) was a company responsible for the management of funds: mainly...

Read more

Previously published in Medium | The quarter with the worst economy since 1929 and the best-performing markets since 1998. Image courtesy of Medium; Source: IMF The worsening forecasts of the International Monetary Fund, the statements by the Chairman of the Federal Reserve, Jerome Powell should leave no illusion on the depth of the recession. Wall Street ignores the economy The contrast could not be more striking between Wall Street and Main Street. The real economy succumbs to bankruptcies and unemployment. The United States will probably...

Read more

In a recent article, we discussed the exploitation by hackers of the current COVID-19 crisis by using techniques such as phishing and malware technology, in order to conduct cyber-attacks on businesses and their workers. Only recently, a group of hackers-for-hire called Dark Basin was exposed for targeting thousands of businesses and individuals with a view to obtaining private data. Similarly, the vehicle manufacturing company Honda recently reported a cyber-attack. Honda maintains that the attack did not involve a data breach but affected its...

Read more

The Center for Financial Stability ("CFS"), today, announced the appointment of William R. Rhodes as the first Chairman of the Organization's distinguished Advisory Board. CFS is an independent, nonpartisan think tank focused on financial markets - with business lines presently segmented into the future of finance, data and analytics, policy, and technology. "CFS' innovative and practical approach, programs, and research position the organization as one of the world's leading think tanks and a vital resource for the New York and international...

Read more

On June 29, the U.S. Supreme Court issued a 5-4 decision in Seila Law LLC v. Consumer Financial Protection Bureau, Slip Op. 591 U. S.         (2020), holding that the provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act limiting the president’s ability to fire the director of the Consumer Financial Protection Bureau (CFPB) only for “inefficiency, neglect, or malfeasance” violated the Constitution’s separation of powers. While the remainder of the CFPB’s structure and regulatory body remains...

Read more

Because of Covid-19, your car can be the safest and most hygienic way to travel at the moment – as long as you follow certain rules. Travelling by car is one of the safest ways to get around for now, from a health perspective, as long as you take care to keep the interior clean and protect yourself whenever you touch things like fuel pumps or bank cards. After all, solid metal, windows, and a well-maintained air conditioning unit provide...

Read more

Troutman Sanders and Pepper Hamilton officially became Troutman Pepper (Troutman Pepper Hamilton Sanders LLP) today, a national law firm of 1,100 attorneys in 23 U.S. cities. The new firm offers clients greater resources and bench strength, enhanced practices, and expanded geographic reach. Troutman Pepper is one of the 50 largest law firms in the country, with offices in eight of the 10 largest U.S. markets. The firm supports some of the country’s biggest industry sectors, including health sciences, energy, real...

Read more