06 Jan
Member News

A Look back to 2015: New Regulations in Banking, Investment Management, Capital Markets, PE, Securities & Tax and more

2015 was a busy year, not least in respect of legal and regulatory changes that may impact your business. We are pleased to provide you with an overview of the major legal and regulatory developments under Luxembourg and EU law. BANKING & FINANCIAL SERVICES EU anti-money laundering package - AML IV Directive: In June 2015 the EU updated and extended its legal framework in order to further strengthen the European Union’s defence system against money laundering and terrorist financing. To this...

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06 Jan
Member News

Trepp, LLC: CMBS Market Thaws Out from Holiday Freeze

Another day, another dud? It sure looked that way before the opening bell, with futures pointing to another down day. However, US equities managed to end mixed on Tuesday. The Dow ended 10 points higher (0.06%) while the S&P 500 moved up 0.20%, though both spent the majority of the day in negative territory. The Nasdaq couldn't complete the trifecta, as it fell 0.24% yesterday. The CMBS market saw its first day with any meaningful trading volume in about two weeks. About...

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06 Jan
Chapter News

Interview with Peter Praet, Member of the Executive Board of the ECB

This interview was conducted by Ewald Pironet of Knack.be and published on 6 January. For over a year now, the European Central Bank (ECB) has been printing heaps of money, pumping it into the economy and pushing interest rates down to almost 0%. When may this policy be deemed a success? You may label that ECB policy a success if inflation, the rise in the cost of living, stays below, but close to, 2% over the medium term. That is our...

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05 Jan
Member News

DS-Concept Provides $3 Million Export Factoring Facility to Multinational Plastics Trader

DS-Concept Factoring, Inc., a global commercial finance company specializing in international non-recourse factoring, has provided a $3 million export accounts receivable facility to a trading company headquartered in the British Virgin Islands with subsidiaries in the US, Canada and UK. The client, who supplies plastics, polymers and resins to manufacturers and distributors in the US, Europe and the Middle East, will receive Euro, GBP and USD factoring lines. Implementing this non-recourse factoring facility to accommodate growing sales, the client will receive financing...

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01 Jan
Member News

DHS Issues Proposed Rule for Changes to Employment of High-Skilled Foreign Workers

On December 30, 2015, the U.S. Department of Homeland Security (DHS) released a notice of proposed rulemaking (NPRM) concerning employment-based visa programs for high-skilled workers. The notice is published in the December 31, 2015 Federal Register and is subject to a 60-day comment period ending on February 29, 2016. The proposed regulations cover a wide range of issues and represent significant amendments to the employment-based immigration system. The NPRM divides the proposed changes into three categories: (1) provisions concerning the...

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01 Jan
Chapter News

Single Resolution Mechanism to come into effect for the Banking Union

The Single Resolution Mechanism (SRM) will become fully operational on 1 January 2016. The SRM implements the EU-wide Bank Recovery and Resolution Directive (BRRD) in the euro area. The full resolution powers of the Single Resolution Board (SRB) will also apply as of 1 January 2016 (IP/14/2784). A milestone on building the Banking Union for the Euro area is about to be reached: on 1 January 2016, the Single Resolution Mechanism will become fully operational. The SRM will bolster the...

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31 Dec
Member News

Trepp, LLC: CMBS Market Bids Farewell to Disappointing 2015

We want to wish all of our readers a healthy, happy, and prosperous New Year. We will write more about this over the next week or so, but most CMBS players will certainly be hoping for different results in 2016. Between disappointing new issue totals and significant spread widening, the market had more troughs than peaks. For the record, the first conduit deal of 2015 saw the 10-year AAA price at S+95 and the BBB- clear at S+380. The year's...

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28 Dec
Chapter News

Trade secrets protection: Luxembourg presidency seals deal with Parliament

Luxembourg presidency reached a provisional agreement with European Parliament representatives on common rules for the protection of trade secrets and confidential information of EU companies. The agreement was confirmed by the Committee of Permanent Representatives of the Council on 18 December 2015. Draft directive on trade secrets Etienne Schneider, Deputy Prime Minister and Minister for Economic Affairs of Luxembourg, congratulated the EU institutions for their excellent cooperation and for the successful outcome, and made the following comments: "Nowadays there is great diversity of...

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22 Dec
Member News

Cross-Border Investigations Not at Cross-Purposes

Cross-Border Investigations are a new global phenomenon. At intervals that are getting shorter and shorter, European and American newspapers write about investigating authorities which are conducting supervisory or criminal law investigations against multinational companies and their boards. Recent developments – especially the Volkswagen investigation as a prime example – make it clear, that companies and their directors should get a feeling for this sensitive and present issue. This papers aim is to give you a short overview about the legal...

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22 Dec
Member News

Consumer Product Safety Commission Update Relating to Children’s Toy Regulations

The Consumer Product Safety Commission (“CPSC”) and State of Vermont have enacted new requirements relating to the regulation of children’s toys and other children’s products. I. CPSC Amendment to Testing Requirements for Unfinished and Untreated Wood Toys and Wood Component Parts of Toys In a Federal Register notice dated December 17, 2015, the CPSC published a final rule amending the requirements of ASTM F963-11 to eliminate third party testing requirements for certain unfinished and untreated woods toys and wood component parts...

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