News | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources

07 Mar

ING publishes its 2018 Integrated Annual Report

Posted by EACCNY
March 7, 2019

ING today published the 2018 ING Group Annual Report, an integrated report designed to provide a broad range of stakeholders with an overview of our financial and non-financial performance in 2018. The report includes a detailed explanation of our strategic direction in the 'Strategy and how we create value' chapter, including a value creation model. Chapters including the 'World around us', 'Our business', 'Innovation and transformation', 'People', and 'Risk and capital management' give in-depth...

06 Mar

Railway safety and connectivity with the UK in the event of a no-deal Brexit – Council agrees its position

Posted by EACCNY
March 6, 2019

The Council's Permanent Representatives Committee today granted the Romanian presidency a mandate to negotiate with the European Parliament on a temporary extension of the validity of certain authorisations, certificates and licences to ensure continuity of train services between the EU (France and Ireland) and the United Kingdom without disruption in the event that the UK leaves the EU without a negotiated agreement. The aim of this extension is to allow bilateral agreements between an EU member state and the...

06 Mar

Chapter News, News, Uncategorized

Improving EU-U.S. Cooperation in Civil Society Support in Eastern Europe and the Western Balkans

Posted by EACCNY
March 6, 2019

By Rosa Balfour, Nicolas Bouchet, and Joerg Forbrig The European Union and the United States devote considerable funds and programs to supporting civil society in Eastern Europe and the Western Balkans – support that is being confronted with old and new challenges. Closing civic space is now entrenched in many countries and the means to undermine civic actors has become more sophisticated. The sustainability of civil society organizations (CSOs) remains a challenge. This requires the EU and the United States to work with...

06 Mar

Chapter News, News

ECB and Bank of England activate currency swap arrangement for possible provision of euro to UK banks

Posted by EACCNY
March 6, 2019

● Bank of England will offer to lend euro to UK banks on a weekly basis ● Bank of England to obtain euro from the ECB in exchange for pound sterling ● Eurosystem would stand ready to lend pound sterling to euro area banks, if a need arises The European Central Bank (ECB) and the Bank of England have decided to activate a standing swap line through which the Bank of England will offer to lend euro to UK banks on a weekly...

06 Mar

Brexit News, Member News

Hard Brexit – outsourcing as a way out?

Posted by EACCNY
March 6, 2019

By Kai-Michael Hingst & Karl-Alexander Neumann | Noerr The latest political developments have not reduced the likelihood of a “hard Brexit” on 29 March 2019. In this article, we sum up the regulatory consequences of a hard Brexit for cross-border banking and financial services and look at the possibility of outsourcing as an option. No more passporting after a hard Brexit A hard Brexit would clearly mean that regulated banking and financial services institutions no longer profit from the “European passport” in cross-border legal...

06 Mar

Member News

India and Turkey to Lose GSP Eligibility

Posted by EACCNY
March 6, 2019

The Office of the United States Trade Representative (USTR) has announced that India and Turkey will be removed from the list of beneficiary developing countries eligible for duty-free entry under the Generalized System of Preferences (GSP). By law, the President must notify Congress at least 60 days prior to the termination of GSP eligibility and must also notify the involved countries. After the 60 day notification period, the termination of GSP eligibility is enacted by a Presidential Proclamation that...

06 Mar

Member News

New EU Rules on Foreign Investments: All You Need to Know About the New Screening Mechanism

Posted by EACCNY
March 6, 2019

By Till Steinvorth | Orrick The Council of the European Union (EU) has adopted a new regulation “establishing a framework for the screening of foreign direct investments into the Union” (the Regulation). This is the first time the EU is equipping itself with a comprehensive framework to monitor investments into EU businesses by investors from outside the EU. The new rules create a cooperation mechanism where EU member states and the European Commission are able to exchange information and raise concerns. The...

06 Mar

Brexit News, Chapter News

For European renewal. Speech by Emmanuel Macron

Posted by EACCNY
March 6, 2019

By Emmanuel Macron, President of the French Republic Citizens of Europe, If I am taking the liberty of addressing you directly, it is not only in the name of the history and values that unite us. It is because time is of the essence. In a few weeks’ time, the European elections will be decisive for the future of our continent. Never, since the Second World War, has Europe been as essential. Yet never has Europe been in so much danger. Brexit stands as...

05 Mar

Member News

Is your leadership team truly diverse?

Posted by EACCNY
March 5, 2019

By Fred Crawford, Managing Director, Senior Vice Chair, New York | AlixPartners I was sitting as an invited guest recently at a board meeting of a multibillion-dollar company, as AlixPartners had been retained to assist them on an important issue. As I was listening and looking around at the board members, I could see the company had done a very good job of building a diverse membership. With regards to ethnicity, gender, and age, the board was quite balanced. Yet, as I...

05 Mar

Brexit News, Chapter News, News

EIOPA and its Members agree on No-deal Brexit Memoranda of Understanding with the Bank of England and the Financial Conduct Authority

Posted by EACCNY
March 5, 2019

The European Insurance and Occupational Pensions Authority (EIOPA) and all National Competent Authorities (NCAs) of the European Economic Area (EEA) with competencies in insurance have agreed Memoranda of Understanding (MoUs) with the Bank of England in its capacity as the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) of the United Kingdom (UK). The MoUs take effect should the UK leave the European Union (EU) without a withdrawal agreement, the so-called "No-deal" Brexit scenario. The following MoUs were agreed: A...

Shopping cart