02 Sep
Chapter News, News

Donald Tusk elected European Council President and Federica Mogherini appointed as new EU High Representative

The European Council decided today to elect Donald Tusk as President of the European Council, and to appoint Federica Mogherini as High Representative of the Union for Foreign Affairs and Security Policy. The President of the European Council is elected for the period from 1 December 2014 until 31 May 2017. The mandate of two and a half years of the President of the European Council is renewable once. Donald Tusk was also appointed President of the Euro Summit, for...

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02 Sep
Chapter News, News

President-elect Juncker interviews candidates for Commissioner

Starting today, President-elect Jean-Claude Juncker will interview each Member State's candidate for Commissioner, before taking a final decision and communicating the list of Commissioners-designate to the Council of the European Union. The purpose of these interviews will be to determine each candidate's ability to serve as a European Commissioner, particularly in light of Article 17(3) of the Treaty on European Union (TEU), which states that: "The members of the Commission shall be chosen on the ground of their general competence...

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25 Aug
Member News, News

Skadden Arps Commits to New Building

A few months ago Trepp, LLC in on of their updates noted that Manhattan's Four Times Square loan was at risk of losing its second largest tenant. (The property had already lost Conde Nast to One World Trade Center.) On Friday, The Real Deal confirmed that law firm Skadden, Arps, Slate, Meagher & Flom has committed to relocate to Brookfield's new office project called Manhattan West in 2020. The firm currently occupies about 49% of the space at Four Times Square, also known as the Conde Nast Building. The...

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23 Aug
Chapter News, News

Fed Chair Janet Yellen on Labor Market Dynamics and Monetary Policy

Speech by Federal Rerve Chair Janet L. Yellen at the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming - August 22, 2014 In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.1 More jobs have now been created in the recovery than were lost in the downturn, with payroll employment in...

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23 Aug
Chapter News, News

Mario Draghi’s Comments from the Annual Central Bank Symposium in Jackson Hole on Unemployment in the euro area

Speech by Mario Draghi, President of the ECB, Annual central bank symposium in Jackson Hole,  22 August 2014 No one in society remains untouched by a situation of high unemployment. For the unemployed themselves, it is often a tragedy which has lasting effects on their lifetime income. For those in work, it raises job insecurity and undermines social cohesion. For governments, it weighs on public finances and harms election prospects. And unemployment is at the heart of the macro dynamics...

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22 Aug
Member News, News

A recent Customs Headquarters decision approving a protest filed by our office calls into question the infallibility of Customs laboratory testing results

A recent Customs Headquarters decision approving a protest filed by our office calls into question the infallibility of Customs laboratory testing results. Ruling HQ H250948 involved a denial of a garment importer’s claim for duty-free treatment under the DR-CAFTA’s “short supply” provision.  Duty-free eligibility turned on whether the underlying fabric had been subjected to certain specific finishing processes (which the lab concluded were not performed). Customs agreed with our argument that the supposed lab testing actually involved subjective visual observations...

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22 Aug
Member News, News

Pepper Hamilton Client Alert: Foreign Data Center Subject to Reach of U.S. Government

Friday, August 22, 2014 | By Pepper Hamilton, LLP - A founding member of the EACCNY Following the July 31, 2014 decision of a New York federal judge in In re Warrant to Search a Certain E-mail Account Controlled and Maintained by Microsoft Corp., 1:13-mj-02814 (SDNY), U.S. companies should be aware that data they control now may be subject to the reach of a warrant issued pursuant to the Stored Communications Act (SCA), 18 U.S.C. §§ 2701 – 2712, even...

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21 Aug
Chapter News, News

Customs: Commission adopts strategy and action plan for better customs risk management

A new strategy to improve customs risk management, together with a detailed action plan, was adopted by the Commission today. Robust customs risk management is essential to protect the safety and security of the EU and its citizens, the interests of legitimate traders and EU financial interests, while at the same time enabling the smooth flow of trade. As the volume of trade grows and the international supply chain becomes ever more complex and fast-moving, the framework for customs...

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20 Aug
Chapter News, News

European satellite navigation: Galileo launches two more satellites

Brussels, 20 August 2014 - Tomorrow Galileo, the EU's satellite navigation programme, will send two more satellites into space, reaching a total number of 6 satellites in orbit. The lift-off will take place at the European spaceport near Kourou in French Guiana, at 14.31 CET and can be viewed via live streaming here. The launch marks another milestone for Galileo as a step towards a fully-fledged European-owned satellite navigation system. These two satellites are the first of a new...

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20 Aug
Member News, News

ISDA Publishes Credit Derivatives Definitions Protocol

Earlier today ISDA published the 2014 ISDA Credit Derivatives Definitions Protocol, which will enable market participants to have their existing portfolio of credit derivatives transactions governed by the new 2014 ISDA Credit Derivatives Definitions if they so choose.  The adherence period is now open and will run until September 12, 2014, only a few weeks away. Depending on market conditions, ISDA may consider re-opening the protocol for adherence.  However, market participants may not want to unnecessarily delay adherence on...

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