Last week, the EU Commission proposed to extend the scope of the EU hybrid mismatch rules by way of an amendment to the EU Anti Tax Avoidance Directive (the "ATAD"; see our Tax Alert of 23 June 2016 for further background. Under the proposed amendments to the EU hybrid mismatch rules, in contrast to the current scope, they will also apply to hybrid mismatches with third countries. Furthermore, the rules will apply to inter alia permanent establishment mismatches, dual resident mismatches...

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October 28, 2016 – New York – More than any other country, American consumers make purchases that cater to risk-taking, adventure and personal values, according to global research by HSBC. This structural shift among US consumers’ purchasing habits is prompting companies to re-think existing marketing and business strategies. According to the HSBC Future of Consumer Demand report, changing demographics and consumer behavior will present new opportunities for savvy American companies in the coming decades whilst posing threats to traditional business...

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CHICAGO – Stout Risius Ross, Inc. (Stout), a global advisory firm, is pleased to announce a new Legal Management Consulting service to assist corporate legal departments in optimizing their practices. Stout welcomes to the firm Jim Mitchell and Stacie Neeter, who will lead the new line of business as Managing Directors. Mr. Mitchell and Ms. Neeter bring to Stout more than 25 and 15 years’ experience, respectively, including long tenures at Arthur Andersen and Huron Consulting Group. The vast majority...

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The Trepp CMBS Delinquency Rate continued its climb in October. The rate began to rise in March as loans from the 2006 and 2007 vintages started to reach their maturity dates, which has caused the reading to move higher in seven of the last eight months. The delinquency rate for US commercial real estate loans in CMBS is now 4.98%, an increase of 20 basis points from September. Over $1.9 billion in CMBS loans became newly delinquent last month, one...

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Wage and hour laws have traditionally drawn, or at least attempted to draw, a bright line between employees, who are entitled to the protections of wage and hour and other employment laws and independent contractors, who are not covered by most employment-related statutes.  In the growing gig economy, however, some have suggested that there should be a third category of worker – one that has some, but not all, legal protections of an employee but whose relationship is freelance,...

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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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