On 21st November 2016, the European Securities and Markets Authorities updated its Questions & Answers on the application of the UCITS Directive (the “Updated Q&A”).  Article 56(2)(c) and Article 55(1) of the UCITS Directive set out two limits whereby (i) a UCITS may not acquire more than 25% of the units issued by a target fund (control limit) and (ii) a UCITS may not invest that more than 10% of its assets in a target fund (concentration limit), knowing that...

Read more

The EU is still facing a difficult market situation, even though the economic rebound in Europe is proceeding. There is a long way to go to achieve the Commission's European 2020 Agenda to get 75 percent of the working-age population (20-64 years old) into employment. In 2016, some of the main issues regarding employment law that the EU had to deal with were: • the Brexit referendum, • the General Data Protection Regulation, • EU-US Privacy Shield and • the different development of the...

Read more

The Dutch State Secretary of Finance declared an extension of the filing period for entities of multinational groups (with a consolidated group revenues of at least EUR 750 million) to 1 September 2017 regarding the following notifications: whether or not these entities are a so-called ‘reporting entity’ under the Dutch Country-by-Country reporting legislation, and; which group entity is the reporting entity. In addition, a special digital application has been developed by the Dutch tax authorities for notifying the identity of the reporting...

Read more

The European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 came into operation on 15 November 2016. These Irish Regulations form part of the Irish implementation of the 4th Anti-Money Laundering Directive (4AMLD) which is due to be transposed throughout the EU by 26 June 2017. Certain Irish Corporates must now: take “all reasonable steps” to obtain and hold “adequate, accurate and current” information in respect of their beneficial owners;   construct and keep a new beneficial ownership register; and   keep the information...

Read more

On November 14, 2016 U.S. Citizenship and Immigration Services (USCIS) published a new Employment Eligibility Verification form, commonly referenced as Form I-9. The new form, which employers must use to establish the employment authorization of employees they hire, features a number of upgrades intended to help reduce errors and facilitate greater efficiency and accuracy in the completion of the form. It is important to note that, while the new Form I-9, dated “11/14/2016 N” in the document’s lower left corner,...

Read more

The world is connected like never before and with growing personal networks of online devices at their fingertips, consumers in Europe are among those driving digital evolution. Our report, written in association with Retail Week, reveals the nuances and divergences in connected consumers’ behaviour and perceptions across Europe If your business interacts with connected consumers in any way, be it in retail, digital health, transport and logistics or emerging innovations, you will appreciate that these differences create great opportunities. Through research...

Read more

In order to give a substantial boost to the Italian eco-system, the Italian government has introduced a new category of enterprises, the so called “innovative small and medium-sized enterprises”, extending to them most of the provisions already available to innovative startups. Definition of small and medium-sized enterprises In accordance with the relevant recommendation given by the European Commission  (“EC Recommendation”), the definition of small and medium-sized enterprises is strictly related to the company’s staff headcount, as well as its...

Read more

According to Natalie Kostelni's article for the Philadelphia Business Journal, software company Vertex, Inc. has signed an 11-year lease for 168,000 square feet at 2301 Renaissance Boulevard in King of Prussia, Pennsylvania. The company will vacate its current space at Old Cassatt Road in Berwyn, Pennsylvania next summer. The property is a five-building campus that secures the $18.89 million Cassford Corporate Park loan. Kostelni reports that Vertex has been at the Cassford Corporate Park since 1987 and sold the property...

Read more