News

Recent Developments in FINRA’s Award of Credit for Extraordinary Cooperation Offers Guidance to Member Firms

By EsqSocial Corporation 30/12/20

In 2020, the Financial Industry Regulatory Authority Inc. (FINRA) settled alleged rule violations with various large investment firms, including Merrill Lynch, Citigroup Global Markets Inc. (CGMI), Transamerica Financial Advisors, Inc.

ESG Disclosures: Guiding Principles and Best Practices for Investment Managers

By EsqSocial Corporation 30/12/20

Whether preparing or reviewing Environmental, Social, and Governance (ESG) disclosures for compliance with regulatory requirements in the EU, the United Kingdom (UK) or the United States (US), or for alignment with ESG best practices more broadly in response to investor demand, investment manager

Personal Data and the UK-EU Trade and Cooperation Agreement: UK gets special “third country” status for up to 6 months

By EsqSocial Corporation 30/12/20

In spite of the holiday period, few will have missed the fact that the UK and the EU concluded a Trade and Cooperation Agreement on 24 December 2020. The Agreement provides a framework under which trade will take place following expiry of the transition period on 31 December 2020....

Holding Foreign Companies Accountable Act Signed into Law

By EsqSocial Corporation 30/12/20

The Holding Foreign Companies Accountable Act (Act), which was signed into law by President Trump on December 18, 2020, amends the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) and requires the Securities and Exchange Commission (SEC) to identify reporting public companies using registered public a

Supplemental Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and Hong Kong

By EsqSocial Corporation 30/12/20

On 27 November 2020, the Department of Justice of Hong Kong and the Supreme People’s Court of China signed the Supplemental Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and the Hong Kong Special Administrative Region (the Supplemental Arrangement).

IRS provides welcome flexibility and clarification in final small business tax accounting regulations

By EsqSocial Corporation 30/12/20

On Wednesday, December 23, Treasury and the IRS released final regulations under sections 263A, 448, 460, and 471 of the Internal Revenue Code (Code) to implement statutory changes made by the Tax Cuts and Jobs Act (the TCJA). The TCJA expanded the base of taxpayers qualifying for favorable small

HK Court reluctant to grant EOT for setting aside an arbitral award

By EsqSocial Corporation 30/12/20

The recent case of A v D (HCCT 52/2020) reinforces the pro-arbitration and pro-enforcement approach of Hong Kong courts.

Business Tax Incentives and Relief Resulting from COVID-19 Response

By EsqSocial Corporation 30/12/20

The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized a refundable tax credit important to many employers struggling as a result of the COVID-19 pandemic.

BIS Rule Changes: The Gift That Keeps on Giving

By EsqSocial Corporation 30/12/20

As 2020 comes to a close, the U.S. Department of Commerce, Bureau of Industry and Security (BIS) continues to implement new measures targeting countries of interest, among them Russia and China (which now, for export purposes, officially includes Hong Kong).

Congress Slips USMCA Corrections into Omnibus Package, But No Deal on GSP and MTB

By EsqSocial Corporation 30/12/20

After months of negotiations, Congress passed an omnibus legislative package on Dec. 22, 2020, that funds the government through September 2021 and includes a package of hard-fought COVID-19 relief measures.

Pages