14 Jan
Chapter News, News

You Know Where Copenhagen Is, But Did You Know…?

European Green Capital Award: Green Cities Fit for Life Urban areas in Europe are the source of many of the continent’s current environmental challenges—not surprisingly, since three out of four Europeans live in towns and cities. Local governments and authorities can provide the commitment and innovation needed to tackle and resolve many of these problems. One of the policy tools the European Commission, the EU’s executive arm, is using to address these challenges is the European Green Capital Award (EGCA), which...

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14 Jan
Member News, News

Upstate New York Loan Off to Special Servicing

According to fresh January remittance data, the $35.5 million Great Northern Mall loan is now with the special servicer. Great Northern Mall is a four building, 900,000 square-foot enclosed mall in Clay, New York, a suburb of Syracuse. Due to mature last month, the loan accounts for 18.8% of the collateral balance in BSCMS 2004-PWR3. Two of the four buildings, totaling 504,743 square feet, serve as collateral for the loan. Dick's Sporting Goods, Regal Cinemas, and The Shoe Department are listed as the top three...

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14 Jan
Chapter News, News

Statement by U.S. Trade Representative Michael Froman on the Bipartisan Congressional Trade Priorities Act of 2014

January 2014, Washington, DC - U.S. Trade Representative Michael Froman issued the following statement today regarding the introduction in Congress of the Bipartisan Congressional Trade Priorities Act of 2014: “I welcome the introduction of the Bipartisan Congressional Trade Priorities Act.  We expect to have a robust conversation on the Hill about how trade agreements should be negotiated and the role of Congress in that process.  We're eager to engage directly with Members of the Finance and Ways and Means Committees...

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10 Jan
Chapter News, News

Baucus, Hatch, Camp Unveil Bill to Bring Home Job-Creating Trade Agreements

Finance, Ways & Means Leaders Team Up to Craft Bill to Deliver Trade Deals that Boost U.S. Exports, Create Jobs WASHINGTON - Senate Finance Committee Chairman Max Baucus (D-MT), Ranking Member Orrin Hatch (R-Utah) and House Ways and Means Committee Chairman Dave Camp (R-MI) joined together today to introduce legislation that will establish strong rules for trade negotiations and Congressional approval of trade pacts, to deliver trade agreements that boost U.S. exports and create American jobs. The Bipartisan Congressional Trade Priorities...

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08 Jan
Member News, News

Granito, E-Commerce and E-Dispute

Granito Ltd., a EACCNY member, becomes a player in the on-line dispute resolution platform now appearing in various legal initiatives being taken at EU and national levels. Commercial and consumer on-line dispute resolution represents a "new tool" to address global needs and solve the uncertainty that cross-border parties of e-commerce transactions have. GRANITO builds on their long-time participation in on-line dispute resolution processes utilized across the United States by various regulatory bodies in the financial arena. GRANITO is pleased to welcome corporations...

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08 Jan
Member News, News

DS-Concept Provides $10MM Factoring Facility to Indian Exporter

EACCNY member DS-Concept Factoring, Inc., a global commercial finance company specializing in international non-recourse factoring, has provided a $10 million export accounts receivable facility to a vertically integrated garment manufacturer. The client, headquartered in India, has global sales in excess of $100MM and is one of the country’s largest manufacturers of branded apparel. “We are extraordinarily pleased and honored to have such a reputable client of this magnitude join our portfolio.” states Brandyn Prust, Vice President of Sales. “The company’s local banking facilities weren’t sufficient enough to facilitate their...

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07 Jan
Chapter News, News

Euro Stats: Inflation & Industrial Producer Prices

Flash estimate - December 2013 - Euro area annual inflation down to 0.8% Euro area annual inflation is expected to be 0.8% in December 2013, down from 0.9% in November, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in December (1.8%, compared with 1.6% in November), followed by services (1.0%, compared with...

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07 Jan
Chapter News, News

Structural & Investment Funds: Commission Boosts Partners’ Role in Planning & Spending

A common set of standards to improve consultation, participation and dialogue with partners such as regional, local, urban and other public authorities, trade unions, employers, non-governmental organisations and bodies responsible for promoting social inclusion, gender equality and non-discrimination during the planning, implementation, monitoring and evaluation of projects financed by the European Structural and Investment Funds (ESIF) has been adopted today by the European Commission. These Funds comprise the European Regional Development Fund (ERDF), the European Social Fund (ESF), the Cohesion...

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07 Jan
Chapter News, News

Cultural & Creative Sectors Missing out on Billions of Euros in Bank Loans, Study Warns

It is a source of frustration all too familiar to cultural and creative businesses across Europe. They painstakingly craft a solid business plan, but when they go to their bank and ask for a loan to turn their brilliant entrepreneurial idea into a profitable venture, all but the biggest enterprises usually find the door firmly shut. A new study published today by the European Commission finds that a mismatch in supply and demand in the loans market means creative...

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06 Jan
Member News, News

Pepper Hamilton Client Alert: FINRA’s 2014 Regulatory & Examination Priorities Address Existing and Emerging Investor Protection and Market Integrity Issues

On January 2, the Financial Industry Regulatory Authority (FINRA) published its annual regulatory and examination priorities letter. The letter identifies and sets forth how FINRA intends to address significant risks and issues that could adversely affect investors and market integrity in 2014. FINRA addresses four categories of priorities in its letter, and a number of sub-issues in each category: (1) Business Conduct Priorities, (2) Fraud Priorities, (3) Financial and Operational Priorities, and (4) Market Regulation Priorities. This client alert summarizes...

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