31 Oct
Chapter News, New York Related News

News from the NYC Mayor’s Office for International Affairs

New York City just released a Call For Innovations to implement pilot projects related to electricity and heat/hot water in public housing. The City seeks pilot project proposals that use innovative technologies to help the New York City Housing Authority (NYCHA), the largest low-income residential landlord in North America, become an efficient and effective landlord while improving the comfort and well-being of its residents. Those selected will pilot their solutions at a NYCHA development, and if successful, NYCHA may...

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31 Oct
Chapter News

EU and Canada sign CETA

Today, the EU and Canada signed the Comprehensive Economic and Trade Agreement (CETA) and a new Strategic Partnership Agreement that deepens cooperation in vital areas such as human rights, international peace and security, economic and sustainable development, justice, freedom and security. European Commission President, Jean-Claude Juncker, speaking at his joint press conference with the Canadian Prime Minister, Justin Trudeau, and European Council President, Donald Tusk, said, “Today, the people of Canada and the European Union have opened a new chapter...

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31 Oct
Chapter News

EU – Canada Summit: An historic juncture in our political and economic partnership

The 16th Summit between the European Union and Canada held today in Brussels marks a historic juncture in our political and economic partnership, in the 40th year of formal cooperation. Jean-Claude Juncker, President of the European Commission, Donald Tusk, President of the European Council, Robert Fico, Prime Minister of Slovakia, and Justin Trudeau, Prime Minister of Canada, signed two landmark agreements: the Comprehensive Economic and Trade Agreement (CETA) and the Strategic Partnership Agreement (SPA). "Today, the people of Canada and the...

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31 Oct
Chapter News

Report on financial structures details structural changes in the euro area financial sector

Consolidation in the banking sector continued in 2015 Median CET 1 ratio increased to 14.6% from 14% in 2014 and profitability of the euro area banking sector improved In 2015 the median NPL ratio of banks, although still elevated, declined for the first time since 2008 The banking system increased its reliance on deposit funding and became less dependent on wholesale and central bank funding Insurance companies and pension funds are starting to adjust structurally to the low-yield environment The non-bank financial sector (including...

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31 Oct
Member News

5 Tips for Negotiating Term Sheets with US VC Investors

Daniel Glazer and Collins Belton at 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. We’re often asked what to watch for when reviewing or negotiating US term sheets. Below are five key concepts non-US founders – and founders generally – should understand. Note that...

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31 Oct
Member News

Germany: Update on Social Selection in Dismissal Cases

If the employment relationship comes under general protection against dismissal, a dismissal pursuant to the German Act on Protection Against Unfair Dismissal (KSchG) is justified if it is necessary due to urgent operational requirements. But even if these reasons are on hand and continued employment at the establishment or company is not possible, the employer generally may not select and dismiss his employees at his free discretion. On the contrary, he has to carry out a so-called social selection....

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31 Oct
Member News

The European Commission publishes proposals on the common corporate tax base directive, the common consolidated corporate tax base directive and amendments to the anti-tax avoidance directive

On 25 October 2016 the European Commission presented 3 new proposals for Council directives. The first proposal amends the anti-tax avoidance directive (ATAD) as regards hybrid mismatches with third countries, while the other two have relaunched the Common Consolidated Corporate Tax Base proposal of 2011 which has been split into 2 parts: a proposal for a Common Corporate Tax Base (CCTB) and a proposal for a Common Consolidated Corporate Tax Base (CCCTB). The CCTB/CCCTB proposals are at the early stage...

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28 Oct
Member News

New Non-Traded REITs Enter Dry Spell

According to The DI Wire, Cantor Fitzgerald is launching a $1 billion non-traded REIT called Rodin Global Property Trust Inc. Rodin intends to focus investments to single-tenant, net-leased commercial properties located in the US, the UK and other countries in Europe. The firm is offering three classes of common stock: class A, class T and class I shares. The Blackstone Group also launched its first non-traded REIT, Blackstone Real Estate Income Trust, back in August. The Wall Street Journal> reports...

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28 Oct
Member News

The SEC’s Aggressive Stance On Employee Agreements

In just over a six-week span, the U.S. Securities and Exchange Commission has fined three different companies for employee agreements that, in its view, could impede individuals from communicating with the commission about securities law violations. The SEC’s prioritization of this issue, combined with its incredibly expansive interpretation of its rule, places companies at a heightened risk of SEC scrutiny based on standard employee, consultant, vendor, confidentiality, separation and other agreements. SEC Rule 21F-17 provides that “No person may take...

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28 Oct
Member News

James D. Rosener Named President of Corporate Law and Mergers and Acquisitions Commission for UIA

  James D. Rosener, a partner with Pepper Hamilton, head of the firm's International Practice Group and managing partner of the New York office, has been named as President of the Corporate Law and Mergers and Acquisitions Commission of the Union Internationale des Avocats / International Association of Lawyers (UIA). The UIA boasts more than two million members from over 120 countries. The organization is open to lawyers around the globe and its members include legal professionals, judges, law students and teachers. Part of...

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