05 Apr
Chapter News

EIB Agrees EUR 4 billion of Investment for Urban Development, Hospitals, Energy and Small Businesses

The Board of the European Investment Bank approved a total of EUR 4.1 billion of new financing today. This includes investment to improve sustainable transport, healthcare, education and corporate research, as well as support for lending to small companies by local financial partners across Europe and around the world. “At a time of economic and political uncertainty the time is right to consider how to strengthen the role of multilateral banks such as the EIB.” said Werner Hoyer, President of...

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05 Apr
Brexit News, Chapter News

Brexit Begins: MEPs Agree on Key Conditions for Approving UK Withdrawal Agreement

An overwhelming majority of the house (516 votes in favour, 133 against, with 50 abstentions) adopted a resolution officially laying down the European Parliament’s key principles and conditions for its approval of the UK's withdrawal agreement. Any such agreement at the end of UK-EU negotiations will need to win the approval of the European Parliament. MEPs stress the importance of securing equal and fair treatment for EU citizens living in the UK and British citizens living in the EU. They...

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05 Apr
Member News

Littler: The Global Guide Quarterly – European Union

Data Security New Regulation or Official Guidance Author:  Aki Tanaka, Attorney — Littler Mendelson, P.C. The EU’s top data protection regulatory body, the Article 29 Working Party, released a set of frequently asked questions on the EU’s General Data Protection Regulation (GDPR), which governs cross-border data processing activity. The Working Party also published a set of guidelines for identifying a controller or processor’s lead supervisory authority. Both documents flesh out certain concepts and definitions of the GDPR, such as what activities constitute cross-border processing of...

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05 Apr
Member News

German Renewable Energy Act surcharge: Amnesty for own consumption from power plant capacity

Eliminating legal uncertainty and taking the pressure off companies or final consumers who assumed, before the REA 2014 (EEG 2014) came into force on 1 August 2014, that they could supply themselves with power from their own share in the capacity of a power plant (“capacity share”) without paying the renewable energy surcharge – this is the purpose of a new transitional rule in the REA 2017 (EEG 2017), which is a type of amnesty provision. Initial situation The legislator defines...

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04 Apr
Member News

Tax Flash: Implementation of the UBO-register in the Netherlands

On 31 March 2017, the Netherlands published a draft legislative proposal for the implementation of the ‘UBO-register’. The Dutch government has launched an online public consultation, providing anyone interested with the opportunity to comment on the draft legislative proposal. The online public consultation closes on 28 April 2017. What is the UBO-register? The UBO-register is a central register containing information on Ultimate Beneficial Owners of corporate entities and other legal entities incorporated in the Netherlands and will form an integral part...

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04 Apr
Member News

April FX outlook – US tax reform and French election

After the failure of the Trump/GOP healthcare bill the next focus is on the Republican tax reform proposals, which may well be outlined more clearly by the end of the month. With the USD having weakened a little over the last month and having failed to benefit even though the Fed raised rates again in March the focus on “Trumpflation” has if anything increased. The lack of significant action from the administration is generally seen as the main reason...

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03 Apr
Chapter News

Shareholders’ Rights in EU Companies: Council Formal Adoption

The Council today adopted a directive aimed at strengthening shareholders' engagement in big European companies. The directive will encourage transparent and active engagement by shareholders of listed companies by reviewing the current Shareholders' Rights Directive (2007/36/EC). The financial crisis revealed that shareholders in many cases supported managers' excessive short-term risk taking. The revised directive is intended to redress this situation and contribute to the sustainability of companies, which will result in growth and job creation. The new directive establishes specific requirements in...

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31 Mar
Member News

Monaco Welcomes a New Vistra Office and the Launch of Vistra Private Office

Vistra has announced the acquisition of Podium SAM, a privately owned wealth structuring advisory provider in Monaco. Following the acquisition, Podium SAM will be rebranded as Vistra Private Office SAM. In addition, Vistra Monaco Corporate Services SAM has been incorporated to act as a local company administrator and has been granted the necessary licence in Monaco to set-up and manage trusts, companies and private fund structures for HNW families. This acquisition sees the expansion of Vistra’s presence into Monaco, further...

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31 Mar
Member News

DHS Guidance Memos Chart Aggressive Course to Implement President Trump’s Executive Orders on Immigration Enforcement

On February 20, 2017, U.S. Secretary of Homeland Security John Kelly released two new policy memoranda aimed at implementing President Trump’s executive orders on enhancing the public safety of the interior and border enforcement of immigration laws. The first memo, titled “Enforcement of the Immigration Laws to Serve the National Interest,” immediately rescinded President Obama’s Priority Enforcement Program, which prioritized deportation of criminals and recently-arrived undocumented individuals, and gives immigration officials broad authority to deport “all removable aliens,” including those...

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30 Mar
Member News

Trump Administration Increases Resources to Crack Down on Employers for I-9 Compliance

• As part of his first-week initiatives, President Trump turned his focus toward immigration. These initiatives included dramatically expanding the resources of the U.S. Department of Homeland Security’s Immigration and Customs Enforcement (ICE) agency. Specifically, the Trump administration authorized the hiring of 10,000 ICE agents across the United States. This increase in the number of ICE officers will have a direct impact on employers as it relates to I-9 compliance and ICE audits of Forms I-9. For example, it...

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