DS-Concept Factoring, a global commercial finance company specializing in international non-recourse factoring, has provided a $1 million reverse factoring facility to a fashion retailer in Germany. The client, a fashion retailer with over 50 locations throughout Germany, anticipates an annual factored volume of $10MM-$15MM. With DS-Concept funding the client’s suppliers in China and Bangladesh, the foreign vendors benefit from faster funding and lower borrowing costs. With the increased working capital, the client will focus on their expansion and plans to...

Read more

The Institute of International Education was featured in CNBC as one of the top 10 charities changing the world in 2015. IIE also received Charity Navigator’s coveted 4-star rating for sound fiscal management and commitment to accountability and transparency for the 8th year in a row. IIE is among only 2 percent of charities to receive at least 8 consecutive 4-star evaluations, indicating that IIE outperforms most other charities in America. © 2015 Compliments of the Institute of International Education...

Read more

The Federal Trade Commission ("FTC") announced that it filed complaints and proposed civil penalty orders totaling $1.3 million against four national retailers in connection with charges that the companies mislabeled textiles as made of "bamboo" in violation of the FTC's Textile Fiber Products Identification Act and the FTC's textile rules. According to the FTC, the products, which included napkins, dresses, socks, and other clothing, were labeled as "bamboo," but actually made of rayon. The FTC alleges that these companies continued...

Read more

By Luca Gambini and Daniel Joseph Guiliano of Portolano Cavallo Studio Legale The Italian Government has recently enacted a new set of rules relating to “annual financial statements, consolidated financial statements and related reports of certain types of undertakings” by means of Legislative Decree no. 139 of August 18, 2015 (the “Decree”), implementing Directive no. 2013/34/EU (the “Directive”). The measures set out under the Decree concern the following three areas: A. The introduction of a report on payments to the Italian government applicable...

Read more

In the wake of the Paris terrorist attacks, the U.S. House of Representatives passed a bill on Tuesday, December 8, 2015, to tighten security measures and impose new restrictions on the Visa Waiver Program (VWP). The VWP permits citizens of 38 designated countries, mostly in Europe, to travel to the United States for business or tourism for 90 days or less without a visa. The bill, which passed in the House by a vote of 407 to 19, would prohibit...

Read more