13 Nov
Chapter News, News

EU to kick off fourth European Semester

The European Commission will adopt a number of documents to mark the start of the fourth European Semester for economic policy coordination in the EU. The Annual Growth Survey will set out general economic priorities for Member States to follow when drawing up their budgets and reform plans over the next year. The Alert Mechanism Report will screen EU economies for potential macroeconomic imbalances, and indicate which economies require further analysis. This year the Annual Growth Survey will be accompanied by...

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13 Nov
Chapter News, News

ALFI: Asset Managers Should Broaden their Appeal to All Savers in Society

ALFI: Asset managers should broaden their appeal to all savers in society A report entitled "Beyond 10%: the case for enlarging the pool of retail investors in Europe's investment funds," commissioned by ALFI and prepared by research company Mackay Williams highlights the fact that there is a ?4 trillion pool of household assets in Europe that are not managed professionally and which is therefore either losing value or failing to grasp growth opportunities that are available through long-term investment vehicles....

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13 Nov
Member News, News

Pepper Hamilton Opens Silicon Valley Office

Law Firm’s Booming Intellectual Property Practice Plants Flag in the Heart of Tech Country - New Office Marks Third Pepper Office in California San Francisco (November, 2013) — Marking the beginning of its expansion into Northern California—the center of the nation’s high-technology industry and home to seven of the top 10 patent-producing cities—AmLaw100 firm Pepper Hamilton LLP, a founding member of the EACCNY, today opened the doors of its new Silicon Valley office. The office will complement Pepper’s two existing...

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13 Nov
Member News, News

Netherlands here we come again

EACC New York Member GRANITO has expanded once again, this time to actively assist companies, both in the US and Europe, to increase their business in the Netherlands. With the addition of Attorney Johan De Flines, an international Dutch lawyer,  Granito's Team is in a ready position to further aid its clients involved in cross-border business. The arrival of Avv. De Flines illustrates Granito's goal to actively expand into those countries which can benefit corporations seeking to increase profits beyond their home borders, whether by expanding exports, contracts,...

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12 Nov
Chapter News, News

ESMA: Long-awaited AIFMD Guidelines on Reporting Obligations Released

The European Securities and Markets Authority (ESMA) has published its final report on "Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD". The guidelines aim to clarify provisions of the AIFMD and its "delegated act" ("Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012") on required information, which will help to have a more comprehensive and consistent oversight of AIFMs' activities. ESMA has also published an Opinion that proposes introducing additional periodic reporting...

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12 Nov
Chapter News, News

Negotiators meet for the second round of Transatlantic Trade and Investment Partnership talks

The EU and U.S. EU negotiators met on Monday November 11th in Brussels for the first day in a second round of talks to foster progress in the Transatlantic Trade and Investment Partnership (TTIP). The beginning of the week will be devoted to discussions on investment rules and trade in services. The teams of negotiators will continue working on those topics during the course of the week, as other negotiators meet to discuss a range of regulatory issues, including regulatory...

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12 Nov
Chapter News, News

European Vocational Training – Open, Engaging, Quickly Responding to Labour Market

The Lithuanian Presidency of the EU Council is paying special attention to promoting vocational education and training (VET). Directors general responsible for VET in the EU member states, together with experts and social partners, have gathered in Vilnius to discuss how to enhance quality of vocational training, making VET directly meet the demands of the labour market, as well as promoting VET openness and inclusiveness to all. Dainius Pavalkis, this semester presiding over the meetings of EU ministers of education...

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12 Nov
Chapter News, News

EU Budget for the Financial Year 2014 Agreed

On 11 November the Council and the European Parliament agreed on the 2014 EU budget and on the financing of € 400.5 million to redress damages from natural disasters in four member states. In the Conciliation Committee, the two institutions agreed on € 135.50 billion for overall payment appropriations and € 142.64 billion for commitment appropriations for the EU budget for 2014. This is a decrease of 6.5% for payments and of 6.2% for commitments compared to the EU budget for 2013. Both institutions...

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11 Nov
Member News, News

Manhattan Office Loan Set to Be Defeased

It appears that the $65 million 75 Rockefeller Plaza loan will show up as defeased soon. According to a Commercial Real Estate Direct piece, MassMutual has refinanced the note with a new 40 year loan. The existing loan makes up over 50% of COMM 2003-LB1A. The loan matures in August 2014, but the note may be prepaid four months earlier. When trading this deal, make sure you account for the upcoming jump in the defeasance percentage and the likelihood that the loan will payoff once...

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