Member News

Digital Rights Ireland challenges EU-US “Privacy Shield”

Privacy advocacy group Digital Rights Ireland is challenging the EU-US “Privacy Shield” (allowing for EU-US data transfers based on self-certification by US companies) before the EU’s General Court, accusing it of failing to provide sufficient guarantees to ensure adequate data protection. 1                 Background – invalidation of the EU-US “Safe Harbour” On 6 October 2015, in the “Schrems” case (C-362/14), the EU Court of Justice (the “CJEU”) ruled that the EU Commission’s “Safe Harbour” decision was no longer valid. This regime...

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Chapter News

Commission invests over €220 million in green and low-carbon projects in Member States

A LIFE-line for 144 innovative projects investing for a better environment and climate action. The European Commission has approved an investment package of €222.7 million from the EU budget to support Europe's transition to a more sustainable and low-carbon future. The EU funding will spur additional investments leading to a total of €398.6 million to be invested into 144 new projects in 23 Member States. The support comes from the LIFE programme for the Environment and Climate Action. €323.5 million will...

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Chapter News

ECB amends Guidelines relating to the Eurosystem’s monetary policy implementation

The European Central Bank (ECB) has today published three new guidelines (Guidelines ECB/2016/31, ECB/2016/32 and ECB/2016/33). These guidelines provide amendments to (i) the General Documentation Guideline on the implementation of the Eurosystem’s monetary policy (ECB/2014/60), (ii) the Guideline on Valuation Haircuts (ECB/2015/35) and (iii) the Guideline on Additional Temporary Measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2014/31). The new Guidelines introduce changes to the monetary policy implementation framework, including: First, the Eurosystem is introducing some changes to the...

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Member News

Crucial Challenges Before the World’s Economy

The world economy now faces severe risks posed in part by slow economic growth, exceptionally slow world trade growth, and rising nationalism, populism and protectionism in many countries, states William R. Rhodes in a presentation to the Hudson Institute. Mr. Rhodes stresses that political leadership now is essential to place the world economy on a faster economic growth track and to educate citizens about the profound advantages of free and open fair international trade, which has been responsible in...

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Member News

Wednesday’s Activity: Cubs Win, Everyone Else Loses

Perhaps it was fitting that in a year where the UK voted to withdraw from the EU and the US has witnessed the most inexplicable presidential campaign in memory that the Chicago Cubs would finally win the World Series. (As Bill Murray says in Ghostbusters: "what comes next? Dogs and cats living together?") The Cubs overcame the Maddon-ness of King Joe (some questionable decisions by skipper Joe Maddon) to finally end the 108-year drought. So after all that, what could be...

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Member News

From the WSGR Database: Financing Trends for Q3 2016

The third quarter of 2016 featured the reversal of several trends seen earlier in the year, most notably in pre-money valuations, which increased substantially for all rounds. The gain in pre-money valuations also drove a decline in the percentage of down rounds for the quarter, which fell to 9%, the lowest share in more than a year and far below the five-year median (from Q4 2011 through Q3 2016) of 16%. If these strong valuations continue through the fourth...

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Member News

November FX outlook – the US election and beyond

The USD showed a firm tone through October as the market steadily priced in a higher probability of a Fed rate hike by the end of the year and the market assessment of the chances of a Trump presidential victory also gradually declined (though this was seen as positive for the MXN). GBP remained weak through the month, suffering a massive “flash crash” in early Asian trading on October 7 in just a few minutes. The US election will...

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Member News

Prestige Videos Keep Things

At Prestige Capital, we've applied our simple, straightforward financing philosophy to online video learning. We just launched our “How Factoring Works” video on our website. It explains how factoring works to smooth out your cash flow, and how Prestige in particular can benefit your client’s business. The keys you need to know are all in this fast minute and a half, easy-to-follow video. Check it out, we think you’ll find it helpful. Then bookmark the video library page and visit often –...

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Member News

Duty Savings Opportunity for Leather Handbag Importers

Importers of leather handbags may have the opportunity to reduce their duty rate on some styles by more than half by reclassifying their products. The Harmonized Tariff Schedule distinguishes between leather handbags (dutiable at a rate of 9% ad valorem) and tote bags (4.5% ad valorem).  U.S. Customs has outlined certain distinguishing criteria between the two types of bags, such as carrying capacity and size.  A bag may meet the tote bag criteria even if it still enjoys other traditional...

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Chapter News, New York Related News

Governor Announces New Regulations to Improve Air Quality

Regulations to Reduce Nitrogen Oxides and Particulate Matter Pollution Go Beyond Federal Standards Click Here to View Regulations Governor Andrew M. Cuomo today announced that New York State has adopted regulations that will improve air quality and protect public health by limiting emissions from existing diesel generators and natural gas-fired engines. The new regulations, originally proposed in December 2015, specifically target nitrogen oxides and particulate matter emissions from existing equipment and actually go beyond the new standards recently established by the...

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