02 Nov
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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02 Nov
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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02 Nov
Chapter News

Emerging Europe: Mostly Growing, but Questions Remain About Medium-Term Growth

Solid growth in most of the region, CIS emerging from recession But sustaining current growth requires further structural reforms Better tax administration, public investment can free up 2-4 percent of GDP in extra resources Economic growth remains solid in much of Central, Eastern, and Southeastern Europe (CESEE), while Russia’s outlook is improving, and other countries of the Commonwealth of Independent States (CIS) are emerging from recession, says the IMF in its latest Regional Economic Issues report on the region. For the region as...

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02 Nov
Member News

Incorporating in the US: Tax and Regulatory Considerations

Wilson Sonsini Goodrich & Rosati and leading UK VC firm Notion Capital have teamed up on a blog to offer their perspectives on transatlantic VC investment and considerations for UK and other non-US companies looking to raise VC funding from US investors. Check out the full series here. Non-US entrepreneurs often ask us about navigating the hodgepodge of local, state and federal laws, and regulations comprising the US tax and regulatory regime. The interplay among these various rules is very different from the...

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01 Nov
Member News

Midstream oil & gas—is a wave of restructuring looming?

The rapid growth of oil & gas production in North America from 2009 to 2014 spurred a cycle of historic demand for midstream infrastructure in the form of gathering, transportation, and processing. However, midstream segment economics are under increased pressure given the current climate of sustained depressed prices and limited exploration activity. Most of the midstream contracts were negotiated at a time when crude oil prices were at all-time highs and exploration budgets were relatively unlimited. To maximize value and enhance returns,...

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01 Nov
Member News

Bank Shares Rise on Economic News

Bank share prices rose again as economic data and market activity bolstered expectations for a Fed rate increase. Initial estimates for Q3 GDP came in above expectations, fueling an increase in bond yields. The 10-year Treasury yield rose 11 basis points to 1.845%, while the broader stock market fell. Regional bank shares rose 1.8% for the week, while the largest banks’ shares rose a smaller 0.9%. Banks have had a good run recently, with banks’ shares advancing 4.9% and 6.4%...

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01 Nov
Member News

Will the Jig Be Up for the Gig Economy?

Employers who rely heavily on independent contractors or temporary workers should take note: “Gig” economy companies are now a priority of the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC recently approved its Strategic Enforcement Plan (SEP) for fiscal years 2017 –2021, updating and identifying areas of priority for the agency. In particular, the EEOC is interested in “larifying the employment relationship and the application of workplace civil rights protections in light of the increasing complexity of employment relationships and...

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01 Nov
Member News

Into the unknown: European M&A Outlook 2016

2016 has been dominated by the UK’s decision to leave the European Union. With this in mind, our latest survey of senior Europe-based executives was taken once before the 23 June, and then again with the same participants in the months after the Brexit vote. The result is a unique contrast of expectations for European M&A pre- and post-referendum, as corporates and private equity firms wrestle with its consequences for their businesses and dealmaking prospects. The results show that, in...

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01 Nov
Member News

The Most Cost-Effective Way You Can Protect Your Trade Secrets

I was giving a talk recently when a senior executive asked me, “If we have the time and resources to focus on just one thing to improve our information security, what would you suggest?” I didn’t hesitate: “Train your workforce.” As we know from multiple studies, the biggest threat to information assets comes from “insiders,” which means (mostly) your employees. It’s not that you have a team packed with spies; but employees notoriously misunderstand their confidentiality obligations. In a recent...

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01 Nov
Member News

FDA Launches Website for Allegations Against Medical Device Manufacturers

The U.S. Food and Drug Administration (FDA) recently launched a website1 that will now make it easier to report allegations of medical device manufacturer misconduct to the agency.2 Misconduct reports were historically submitted electronically (e.g., by email) or by letter. As many reporters wished to maintain anonymity, third parties (e.g., law firms) were often engaged to submit these reports. And once a third-party report was submitted, it was difficult to determine if the FDA commenced an investigation until an...

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