On January 19, 2017, the Internal Revenue Service (the “IRS”) issued final, temporary, and proposed regulations (the “Regulations”) under section 871(m) of the Internal Revenue Code of 1986, as amended (the “Code”). Code section 871(m) imposes withholding tax on U.S. source “dividend equivalent” payments made on certain derivative financial products, including notional principal contracts (“NPCs”), equity linked instruments (“ELIs”), and sales-repurchase agreements. The Regulations serve to both clarify and codify much of the official and regulatory guidance issued under...

ING records robust commercial growth in 2016 while achieving a number one NPS score in 7 of 13 retail markets · ING gained over 1.4 million new retail customers and grew primary relationships by 8.1% to 9.7 million · Business growth was robust in 2016 with EUR 34.8 billion net core lending growth and EUR 28.5 billion net customer deposit inflow   ING Bank full-year 2016 underlying net profit of EUR 4,976 million, up 17.9% from full-year 2015 · Strong full-year 2016 results reflect robust commercial growth...

Perhaps in response to the recent presidential election, the demand for immigrant visas has noticeably surged across most employment-based immigrant visa preference categories. While the final action dates for most preference categories have moved forward, meaning additional numbers of foreign nationals may proceed with applications for immigrant visa processing or adjustment of status, Charles Oppenheim, the Chief of the Visa Control and Reporting Division at the U.S. Department of State (DOS), forecasts that additional final action cutoff dates are...

 The FX market continues to wait for more information on the Trump presidency before settling on a direction for the USD. The USD weakened though much of January as the market squared up some long USD positions established on the basis of an expectation of expansionary economic policies from Trump, as political concerns and lack of clarity on the economic agenda clouded the outlook. However, the Fed still seems intent on tightening again by the middle of the year...

GRANITO is pleased to announce a new set of services relating to trademark, copyright and patent protection. GRANITO believes that the protection of intellectual property rights goes hand in hand with the development of a company's business strategy. GRANITO's recent publication "World Intellectual Property Rights and Remedies" (edited by Thomson Reuters in Nov 2016) showcases GRANITO's experience in the arena. GRANITO welcomes those wishing to reserve the rights that they deserve to grow globally with them in 2017. Compliments of Granito - a...

On January 27, 2017, President Donald Trump signed an executive order suspending entry to the United States of foreign nationals from the following countries for a period of at least 90 days: Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen (“affected countries”). U.S. ports of entry began enforcing the executive order immediately. As such, many travelers becamesubject to this executive order while they were in transit to the United States. Upon arrival, these travelers were detained for possible deportation from...

Don’t be fooled by the press – they’re not invincible There is a common misconception carefully fostered by the media – especially the press – that there is nothing that you can do when it hits you with misleading and damaging material. This kind of story can be generated by a business rival, a disgruntled employee, or merely the jaundiced imagination of a journalist. Bad press sells newspapers which want to trade the reputation of your brand or corporation, or...

One of the first acts of the new Administration on Inauguration Day was to issue a memorandum putting the brakes—at least temporarily—on federal regulations that have not yet taken effect, and to release an executive order authorizing agencies and departments to "minimize the unwarranted economic and regulatory burdens" of the Affordable Care Act. These two actions are the first of several presidential orders and memoranda expected in the days and weeks to come. Regulatory Pause The memorandum the President's chief of...