08 Feb
Brexit News, Chapter News, News

U.S. Trade Representative Signs Wine and Distilled Spirits Continuity Agreements with the UK

02/04/2019 Washington, D.C. – On January 31, 2019, Ambassador Gregg Doud, USTR Chief Agricultural Negotiator, and Ambassador Kim Darroch, United Kingdom (UK) Ambassador to the United States, signed two agreements covering wine and distilled spirits today to ensure there is no disruption in trade of these products between the United States and the UK when the UK leaves the European Union (EU). Currently the United States has agreements on wine and distilled spirits with the European Union which cover trade...

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07 Feb
Member News, Trade & TTIP Related

President Trump Comments on Trade in State of the Union Address

In his second State of the Union address to Congress, President Donald Trump noted that he campaigned on several core promises, including “to defend American jobs and demand fair trade for American workers.” He argued that his administration has “moved with urgency and historic speed to confront problems neglected by leaders of both parties over many decades” and indicated that “one priority is paramount – reversing decades of calamitous trade policies.” His prepared speech included comments on the ongoing trade dispute with...

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07 Feb
Member News

USAM Group Expands Global Presence with Catena Partnership

Catena Technologies today announced a strategic alliance with USAM Group, a member of the EACCNY, that expands availability of Catena’s flagship derivatives compliance solution to financial institutions in North America and Europe. Under the agreement, USAM will provide marketing and sales strategy and execution for the TRACE Reporting solution, which automates reporting of derivatives trades to global regulators. "Regulatory and trade repository changes coming up in 2019 will require major changes to trade reporting systems, creating a compelling opportunity for...

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07 Feb
Brexit News, Chapter News, News

Joint statement on behalf of President Juncker and Prime Minister May

Brussels, 7 February 2019 President Juncker and Prime Minister May have met today to review the next steps in the UK's withdrawal from the EU. The talks were held in a spirit of working together to achieve the UK's orderly withdrawal from the EU, especially in the context of a shared determination to achieve a strong partnership for the future given the global challenges the EU and the UK face together in upholding open and fair trade, cooperation in the fight...

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07 Feb
Member News

Hungary: New foreign investment rules

By Ákos Bajorfi | Noerr On 1 January 2019, new legislation entered into force which set out significant restrictions on foreign investors intending to make direct or indirect investments in certain strategic sectors in Hungary (Act LVII of 2018 on the Supervision of Foreign Investments Violating the Security Interests of Hungary (‘SFI’)). This will have an impact on a considerable number of transactions in Hungary in the future. The SFI applies to ‘foreign investors’, which are defined as natural persons and...

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06 Feb
Member News

Transitional rules announced for certain Dutch tax acts in case of no deal Brexit

By Michael Molenaars, Jeroen Smits, Maarten de Bruin, Reinout de Boer, Emile Bongers, Joost Eyck On 4 February 2019, the Dutch State Secretary of Finance sent a letter to the Dutch Parliament announcing transitional rules for Dutch taxes (other than customs legislation) if there will not be a Brexit withdrawal agreement (i.e. a no deal Brexit). The letter includes an outline of the transitional rules. Further - more detailed - guidance is being prepared and is to be issued at a later stage. According to the letter, the...

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06 Feb
Member News

Blockchain Evolves from Buzzword to Major Benefit for Payments, TD Bank Survey Finds

Treasury and finance professionals anticipate more operational challenges in 2019 than in previous years, according to a recent survey conducted by TD Bank, America's Most Convenient Bank®, at the 2018 Association for Financial Professionals Annual Conference in Chicago, Illinois. The risk of payments fraud/cybersecurity topped professionals' list of concerns, with 44 percent naming it their top operational challenge, a 14 percent year-over-year increase. The ability to adapt to or process faster/electronic payments is an obstacle for 37 percent of survey respondents, also...

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06 Feb
Brexit News, Member News

What are the tax implications of Brexit?

If the UK does not end up remaining in the customs union or in the EU VAT area under a no-deal Brexit scenario, firms can expect an increase in processing time and costs. When assessing the tax impact of no-deal Brexit you have to look at the rules which are directly derived from the EU legal framework and those which are indirectly impacted. VAT, Customs Duties, State Aid and to some extent withholding tax (WHT) are the primary ones affected,...

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06 Feb
Brexit News, Chapter News, News

Joint statement by President Jean-Claude Juncker and Taoiseach Leo Varadkar

Brussels, 6 February 2019 The Withdrawal Agreement and the Political Declaration have been negotiated in good faith and have been agreed by all 27 Leaders of the European Union Member States as well as by the United Kingdom Government. As we have said on many occasions, the Withdrawal Agreement is the best and only deal possible. It is not open for renegotiation. The backstop is an integral part of the Withdrawal Agreement. While we hope the backstop will not need to be...

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05 Feb
Chapter News, News

Security Union: Commission recommends negotiating international rules for obtaining electronic evidence

5 February 2019. Brussels, Belgium   The European Commission recommends engaging in two international negotiations on cross-border rules to obtain electronic evidence. With the majority of criminal investigations requiring access to evidence based online and often outside the EU, there is an urgent need to equip police and judicial authorities with quick and efficient tools fit for modern reality. Following up on the European Council Conclusions from October 2018, the Commission presented two negotiating mandates, one for negotiations with the United States and one...

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