Member News

New Leases Accounting Standard: Potential Consequences of FASB Leases (ASC 842) for Portfolio Companies

On February 25, 2016, the FASB issued a new standard, Leases (ASC 842). Certain provisions of the new standard are particularly noteworthy for portfolio companies owned by private equity investors. Calendar year-end public companies adopting the standard on January 1, 2019 will need to apply the guidance to the 2017 and 2018 comparative periods presented. Most notably, the new standard requires lessees to recognize virtually all leases (other than short-term leases) on their balance sheet. This means that lessees will...

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Member News

Vision For Life to Build Primary Vision Care Capacity

Reaching the 2.5 billion people worldwide who do not have access to the vision care they need took a step closer to reality this month when the Essilor Group launched the Vision For Life program. Jayanth Bhuvaraghan, Essilor’s Chief Corporate Mission Officer and Chairman of the two boards that will administer the funds, explained how it will work. “Vision for Life is a global strategic giving program that will fund, monitor and measure the impact of projects showing the most potential...

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Member News

Making UK Equity Plans Work for US Employees

When UK emerging companies venture outside the UK, they quickly need to address whether – and how - to extend equity-based compensation to non-UK employees.  However, few jurisdictions offer a regime as favourable as the UK’s Enterprise Management Incentives (EMI) scheme for providing equity compensation to emerging company employees. The discussion below provides guidelines for making this work.  Although the focus is on extending equity-based compensation to US employees, the issues addressed have broader applicability. 1. Provide for non-EMI grants of...

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Chapter News

A new integrated EU policy for the Arctic adopted

The High Representative and the European Commission set out an integrated response to the challenges of the Arctic. The High Representative for Foreign Affairs and Security Policy and the European Commission have today adopted a policy proposal that will guide the actions of the European Union in the Arctic region. The European Union will step up its existing action and engagement in the region with 39 actions focussing on climate change, environmental protection, sustainable development and international cooperation. The particular...

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Chapter News

On World Intellectual Property Day, UN agency spotlights role of digital creativity

The way in which creative works are produced, distributed and enjoyed around the world has been reimagined as a consequence of digital technology, the head of the United Nations World Intellectual Property organization (WIPO) said today. In a message marking World Intellectual Property Day, whose theme this year is Digital Creativity: Culture Reimagined, WIPO Director General Francis Gurry stressed that that the Day, which is celebrated each year on 26 April, is an opportunity to celebrate the creators and innovators...

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Chapter News

Rise of the robots: “There are some urgent questions we have to find answers to”

Robots are increasingly becoming more important. Not only are they being used in areas such as medicine, agriculture and manufacturing, they are now also capable of driving cars and piloting drones. However, their increasing use and expanding capabilities have significant implications. On 21 April Parliament's legal affairs committee held a hearing to discuss with experts the issues involved, such as safety, liability and risk management. Increasing importance More and more appliances are now able to operate interactively and autonomously to some...

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Chapter News

Capital Markets Union: Taking stock of the progress made so far

The Commission is today taking stock of the progress made in the first six months since the adoption of the Capital Markets Union Action Plan and it is publishing the first CMU status report. The Capital Markets Union is an important element of the Commission's priority strategy to support jobs, growth and investment and is a key building block of the Investment Plan for Europe. The objective of the Capital Markets Union (CMU) is to diversify and amplify sources of...

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Chapter News, New York Related News

Governor Cuomo Announces $150 Million Available For Renewable Energy Projects

Funding Will Build and Expand Large Solar, Wind, Hydro and Other Renewable Energy Projects to Meet State Goal of 50 Percent Renewables By 2030 Governor Andrew M. Cuomo today announced $150 million in funding to support large-scale renewable energy projects across the state. This funding will facilitate public-private partnerships to advance the Governor’s Reforming the Energy Vision strategy and ensure the state meets its goal of generating 50 percent of its electricity from carbon-free renewable energy projects by 2030. “This state...

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Chapter News

Financial re-integration trend moderates, but ambitious capital markets union will boost benefits of integration

Financial integration in the euro area is improving, though more slowly Recent financial turbulence should not hamper further integration Further developing European capital markets and integrating retail banking markets enhances the financial system’s resilience, its contribution to cross-country risk-sharing and its ability to finance the real economy The 2016 edition of the ECB’s report on Financial Integration in Europe, published today at a joint conference with the EU Commission at the ECB in Frankfurt, shows that financial integration in the euro area...

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Chapter News

26 April: World Intellectual Property Day – Almost 90 000 EU trade mark applications received from Member States in 2015 – Germany first among Member States, Paris among EU regions

89 420 applications for trade mark protection were received in 2015 by the EU Intellectual Property Office (EUIPO) from the Member States of the European Union (EU), a number about 4 times higher than that of the mid-1990s. Over recent years, the number of EU trade mark (TM) applications originating from EU Member States has constantly risen, with the exception of the slowdown registered with the economic and financial crisis in 2008. Full text available on EUROSTAT website Compliments of the...

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