Treasury Management – Game Towne http://gametowne.com/ Thu, 13 Jan 2022 22:15:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gametowne.com/wp-content/uploads/2021/06/icon-6-150x150.png Treasury Management – Game Towne http://gametowne.com/ 32 32 FNB Corporation Launches Digital Banking Solution for Physicians on eStore https://gametowne.com/fnb-corporation-launches-digital-banking-solution-for-physicians-on-estore/ Thu, 13 Jan 2022 19:30:00 +0000 https://gametowne.com/fnb-corporation-launches-digital-banking-solution-for-physicians-on-estore/ Physicians can now use the digital channel to easily apply for loans and deposit products using online and mobile tools PITTSBURGH, January 13, 2022 /PRNewswire/ — FNB Corporation (NYSE: FNB) has announced the launch Doctors first, an all-digital program of specialty loan and deposit products for doctors, dentists, veterinarians and other healthcare professionals. FNB Corporation […]]]>

Physicians can now use the digital channel to easily apply for loans and deposit products using online and mobile tools

PITTSBURGH, January 13, 2022 /PRNewswire/ — FNB Corporation (NYSE: FNB) has announced the launch Doctors first, an all-digital program of specialty loan and deposit products for doctors, dentists, veterinarians and other healthcare professionals.

FNB Corporation has launched Physicians First, a digital banking solution for physicians on its exclusive online store. Physicians can use FNB’s digital channels to apply for loan and deposit products.

Available online, in-branch and via mobile device through FNB’s proprietary system eShop, Physicians First offers a bundled suite of accessible digital solutions that meet the personal and professional financial needs of the medical community, all in one place. Using the online store, FNB allows customers to bank, complete applications, download information and book appointments with financial professionals online.

With over 250,000 doctors, dentists and veterinarians in its multi-state footprint and more $ 4 billion Due to the new medical student debt created each year, FNB introduced Physicians First due to its significant potential to improve the financial results of members of the healthcare industry. The program bundles business loans, deposit products, mortgages and consumer loans and wealth management services, as well as a new physician education refinance loan to repay medicine.

“Physicians First presents an exciting and scalable opportunity to use FNB technology to deepen our relationships with our customers and give busy healthcare professionals tools to save time and achieve their goals,” said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of FNB Corporation and First National Bank. “We have seen significant growth in loans from our physicians over the past twelve months and have applied our cutting-edge digital platform and vast experience to develop a very unique and efficient way to meet the evident demand for specialist services for the needs of these customers.

Physicians First offers a range of solutions suitable for every stage of a doctor’s career and life, including:

  • Mortgage Solutions: A specialized mortgage program developed to streamline the home buying process for interns, residents, fellows and established professionals, with flexible terms based on their unique circumstances and long-term goals.

  • Personal Banking: A wide range of personal deposit, credit and financial planning products and services, as well as private banking and wealth management capabilities for physicians who value a deep relationship with an invested partner.

  • Commercial Products and Services: A range of solutions to support the growth and success of practices of all sizes, including practice purchase, equipment financing and leasing, and other commercial lending solutions, as well as as insurance, cash and cash management, wealth management and employee management. advantages.

The Physicians First program has been designed to serve professionals with one or more of the following degrees: MD, DO, DDS, DVM, DMD, or others that require an MD or substantially similar degrees in the medical sciences. To learn more, visit fnb-online.com/doctors.

About FNB Corporation
FNB Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Colombia. ETF market coverage spans several major metropolitan areas, including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; washington d.c.; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston Salem, Greensboro and high point) in North Carolina. The Company has total assets of more than $39 billion and over 330 banking offices across Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, Caroline from the south, washington d.c. and Virginia.

FNB offers a full range of business banking, consumer banking and wealth management solutions through its branch network led by its largest subsidiary, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, real estate investment finance, government banking, corporate credit, capital markets and credit finance- lease. The consumer banking segment offers a full range of consumer banking products and services, including deposit products, mortgages, consumer loans and a full range of mobile and online banking services. FNB’s wealth management services include asset management, private banking and insurance.

Common stock of FNB Corporation trades on the New York Stock Exchange under the symbol “FNB” and is included in Standard & Poor’s MidCap 400 Index along with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the FNB Corporation website at www.fnbcorporation.com.

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Wyoming reallocates $ 1 million in ERAP funds https://gametowne.com/wyoming-reallocates-1-million-in-erap-funds/ Tue, 11 Jan 2022 22:23:14 +0000 https://gametowne.com/wyoming-reallocates-1-million-in-erap-funds/ According to the Department of Family Services (DFS), the Wyoming Emergency Rent Assistance Program (ERAP) has reallocated $ 1 million of its funding to the North Arapaho Tribal Housing Program. Treasury directives allowed the programs to reallocate ERA1 funding to authorized entities, namely the State of Wyoming, the Eastern Shoshone, and the Northern Arapaho in […]]]>

According to the Department of Family Services (DFS), the Wyoming Emergency Rent Assistance Program (ERAP) has reallocated $ 1 million of its funding to the North Arapaho Tribal Housing Program.

Treasury directives allowed the programs to reallocate ERA1 funding to authorized entities, namely the State of Wyoming, the Eastern Shoshone, and the Northern Arapaho in Wyoming.

Korin Schmidt, Director of DFS, said:

“Thanks to the direction of the governor’s office, we were able to reallocate funds to the Northern Arapaho tribe to help households in their community,” Schmidt said. “The Northern Arapaho Tribe is also to be commended for funding non-tribal households facing eviction before the Wyoming State program launched last year. We all want to make it possible for eligible families and individuals to get the help they need to stay a roof over their heads. “

The North Arapaho Tribal Housing Program has reached the Treasury Department’s threshold to receive additional funding, and according to their website, they received total funding of $ 2.6 million for the rental program.

It is not clear, however, how much of this money has been spent so far or how many people have been helped.

Wyoming’s ERA program received $ 200 million from the federal government to help those struggling to pay their rent due to the COVID-19 pandemic, with $ 20 million allocated for administrative operations.

Since the start of the program in April 2021, it has distributed $ 15.6 million to 6,159 households, out of the 9,878 applications submitted and $ 180 million available.

Wyoming is the only state to date to reallocate federal ERA funding to a tribe, according to the DFS.

However, the Ministry of the Treasury website lists several states, including Montana and North Dakota, that have respectively reallocated millions of dollars to the Chippewa Cree Housing Authority and the Oglala Sioux Lakota Housing Agency.

Answers to 25 Common Questions About the COVID-19 Vaccine

COVID-19 vaccines began delivery in the United States on December 14, 2020. The rapid rollout came just over a year after the virus was first identified in November 2019. The The impressive speed with which vaccines have been developed has also left a lot of people with a lot of questions. The questions range from practical questions – how will I get vaccinated? – scientific questions – how do these vaccines work?

Read on for the answers to 25 common questions about the COVID-19 vaccine.

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Weekend summary – January 9, 2022 https://gametowne.com/weekend-summary-january-9-2022/ Sun, 09 Jan 2022 19:27:34 +0000 https://gametowne.com/weekend-summary-january-9-2022/ Presented by the Alabama Department of Public Health Good afternoon! If you missed our first Capitol Journal program of the year (and my first as a host), you can check it out online HERE. Here is your Weekend Digest for Sunday January 9th. Leading lawmakers on both sides agree that the biggest immediate problem the […]]]>

Presented by the

Alabama Department of Public Health

Good afternoon!

If you missed our first Capitol Journal program of the year (and my first as a host), you can check it out online HERE.

Here is your Weekend Digest for Sunday January 9th.

  • Leading lawmakers on both sides agree that the biggest immediate problem the Legislature is preparing to meet in Montgomery is the allocation of some $ 580 million in federal relief funds.
  • This is a task that could complicate the entire election year session, which is why many expect Gov. Kay Ivey to call a special session within the regular session to focus the attention of lawmakers only. on American Rescue Plan Act funds.
  • During our conversation on the Capitol Journal on Friday, Senate Pro Tem Greg Reed, R-Jasper, said separating those funds from the rest of the session could be effective.
  • “The idea of ​​being able to separate ARPA funds from the allocation and process of handling them is going to be important to the legislature,” Reed said.
  • Only the governor can call an extraordinary session.
  • Gina Maiola, spokesperson for Governor Kay Ivey, declined to say whether a special session was in the works, but said the governor wanted ARPA funds to be an “early priority” when lawmakers meet Tuesday.
  • A similar approach was taken in 2019 when Ivey called an extraordinary session at the very start of the regular session to draw the attention of lawmakers specifically to the gasoline tax and the infrastructure plan.
  • Read my full story and see full interviews with Reed and CFO Bill Poole HERE.

  • Longtime state lawmaker Rep. Steve McMillan, R-Gulf Shores, will undergo “an aggressive treatment plan” targeting three small tumors in his brain, he told colleagues in a letter this week. .
  • “I have high hopes for his success, as are the doctors, but we all know that God’s power to heal far exceeds anything man knows,” said McMillan, 80, in the letter shared with Alabama Daily News.
  • He said the tumors were discovered after experiencing unusual symptoms and seeing his doctor.
  • McMillan announced last year that he would not be running for the seat he has held since 1980.
  • “I greet and appreciate your prayers on my behalf as my family and I lead this fight,” the letter continues.
  • He certainly has ours.
  • The full story of Mary Sell HERE.

A message from

Alabama Department of Public Health

  • COVID will not have the last word. We’re going.
  • Protect yourself and those around you. Please get vaccinated today!
  • And if you have symptoms of the COVID-19 virus, be sure to get tested.

  • Representative Lynn Greer, R-Rogersville, will not seek re-election this year.
  • Greer was first elected to the Alabama House of Representatives in 1974 and has served a total of six terms, three of which have been uninterrupted since 2010. His public service career also includes nine years on the Public Service Commission. public.
  • “I promised my family four years ago that I would not run again,” Greer told the Alabama Daily News on Friday.
  • Greer, 80, is still heavily involved with his two businesses, Greer Construction and Greer Management, which manages more than 49 apartment complexes in Alabama, Tennessee and Mississippi.
  • “I’m under a lot of stress and it’s time for me to get out of the State House,” Greer said.
  • No other current member of the House was sitting in 1974, and Greer was a mentor to other Shoals lawmakers.
  • The full story of Mary Sell HERE.

  • Alabama officials say federal rules do not appear to block the state’s plan to use $ 400 million in pandemic relief funds to build prisons, although the US Treasury Department document indicates that new prisons are generally not a qualifying use of the money.
  • The US Treasury Department on Thursday released the final rule for the state and local government budget recovery fund program promulgated as part of the US bailout. The Treasury Department wrote that construction of new penal institutions is “generally ineligible” if they are built in response to an increase in the crime rate.
  • Alabama is piloting $ 400 million of the more than $ 2 billion it will receive from the US bailout to build new prisons. State officials said on Friday that the new rules do not ban the spending, while opponents of the plan say the rules argue it is an inappropriate use of the money.
  • JaTaune Bosby, executive director of the ACLU of Alabama, said in a statement that building a prison is inappropriate, “especially as healthcare workers, teachers, small business owners and so many other people in Alabama are struggling during this ongoing pandemic. “
  • The Alabama Department of Finance said in a statement that the prison construction plan “is not affected by the final rule of the US Treasury Department.”
  • Kirk Fulford, deputy director of the Legislative Services Agency’s tax division, wrote in an email that the $ 400 million came from a segment of US bailout funds meant to make up “lost revenue” during the pandemic that states can use to disembark to government departments. He said states have more flexibility over this money.
  • “I don’t see the final rule impacting our use of the $ 400 million for prisons at all. Funds for prisons came from the ‘lost revenue’ portion of the funds, ”Fulford wrote in an email.
  • Read more from Kim Chandler HERE.

  • KD Johnson scored 23 points and number 9 Auburn extended his winning streak to 11 with an 85-73 win over Florida on Saturday night.
  • Jaylin Williams scored 14 points, a season-high, for the Tigers (14-1, 3-0) and Wendell Green Jr. added 13 for an Auburn team that topped Florida 35-9 in points bench. Jabari Smith had 13 points and five rebounds.
  • The Tigers’ greatest strength this season is their depth, and that was in the spotlight on Saturday. With three starters sitting for a significant portion of the second half due to fouling issues, Auburn was able to withstand a second half push from the Gators with their reserves.
  • “I thought we were a little tired tonight,” Auburn coach Bruce Pearl said. “I thought, for the first time, that maybe the pace of the season had been a factor. … So obviously, you know, these guys – Wendell, KD, and Jabari – get up and kick things.
  • Next up is the Iron Bowl of basketball, as Auburn travels to Tuscaloosa to face Alabama’s No.21 on Tuesday.
  • The game is scheduled for 8:00 p.m. on ESPN.
  • It’s the right timing! You can watch the 6:00 a.m. State of the State speech, then our live Capitol Journal analysis show immediately after, and then have plenty of time to turn to the world’s leading gaming.
  • Read more HERE.

A message from

Rapid democracy

  • Your bill tracking needs to be compatible with Alabama’s new website, or you could miss important legislative updates.
  • Rapid democracy provides the most accurate and up-to-date invoice tracking software so you are always well informed and up to date with everything going on at Montgomery.
  • Email nicole@fastdemocracy.com to get a demo today!

ALABAMA DAILY NEWS – Likely Special Session on ARPA Federal Funds

ALABAMA DAILY NEWS – Representative Steve McMillan to undergo treatment for brain tumors

ALABAMA DAILY NEWS – Representative Greer, first elected in 1974, does not seek re-election

ALABAMA DAILY NEWS – State Says Prison Construction Allowed With Relief Money

ALABAMA DAILY NEWS – No.9 Auburn beats Florida 11th in a row, start 3-0 SEC

ALABAMA DAILY NEWS – US employers add 199,000 jobs as unemployment drops to 3.9%

ALABAMA DAILY NEWS – Supreme Court Evaluates Vaccine Rules Affecting Over 80 Million

AL.COM – Alabama hospitals, intensive care units begin to feel the omicron crash; 48 children hospitalized with COVID

AL.COM – While his colleagues were in hiding, Mo Brooks “cheered” on January 6 insurgents: McCarthy’s former aide

AL.COM – Execution of Michael Reeves, sentenced to death in Alabama, blocked by order of federal judge

AL.COM – Ahmaud Arbery’s killers sentenced: 2 sentenced to life without parole

MONTGOMERY ADVERTISER – Controversial state representative Will Dismukes will not stand for re-election after term expires

MONTGOMERY ADVERTISER – Public invited to investigate, meetings to inform search for a new MPS superintendent

MONTGOMERY ADVERTISER – Lindy Blanchard Spends $ 1.5 Million, Raises $ 6,000 in First Month of Governor’s Race

DAILY DECATUR – Federal budgets and relief funds are top priorities as the legislature meets

DAILY DECATUR – The Decatur Daily: Lawmakers propose red meat for election year

ONCE DAILY – Budgets and relief funds are the main priorities of legislators

ONCE DAILY – State residents eligible for credit for the installation of a qualified storm shelter

ONCE DAILY – Businesses remain silent as vaccination mandate goes to Supreme Court

NEWS FROM TUSCALOOSA – Tuscaloosa prepares for a big crowd on the Strip during the National Championship game

DOTHAN EAGLE – “It’s a political thing”: Wiregrass sheriffs oppose end of gun license requirement

YELLOWHAMMER NEWS – Senate Pro-Tem Reed: Senators will have the opportunity to propose important bills in their constituencies after the 2020 abridged session in 2022

YELLOWHAMMER NEWS – Jones Valley Teaching Farm is expanding to provide better access to food for those in need.

YELLOWHAMMER NEWS – Mo Brooks: claim that I “applauded” the intruders of the US Capitol on January 6 “categorically false”

WASHINGTON POST –Supreme Court seems skeptical of Biden’s vaccine rules for business, more receptive to policy for healthcare workers.

WASHINGTON POST – Biden visits a Colorado town ravaged by a wildfire, cites climate change.

WASHINGTON POST – The White House is preparing to ask Congress for additional funding for treatments, vaccines and other health needs related to coronaviruses.

NEW YORK TIMES – Lani Guinier, lawyer at the Controversy Center, dies at 71.

NEW YORK TIMES – Why Tesla soared as other automakers struggled to make cars

NEW YORK TIMES – Hiring in the United States slowed in December as employers struggled to find workers.


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The Great Resignation is coming to schools https://gametowne.com/the-great-resignation-is-coming-to-schools/ Sat, 08 Jan 2022 00:00:08 +0000 https://gametowne.com/the-great-resignation-is-coming-to-schools/ A sign is posted at the entrance to the Chicago Public School Headquarters. | Scott Olson / Getty Images MORE TEACHERS – The crisis in American schools since the start of the pandemic is an education crisis, but it is also a labor shortage. A superintendent in Boston taught a fourth grade class this week […]]]>

MORE TEACHERSThe crisis in American schools since the start of the pandemic is an education crisis, but it is also a labor shortage. A superintendent in Boston taught a fourth grade class this week due to staff issues. Some Ohio School Districts reduced the degree requirements for substitute teachers and increased their To pay. Schools are desperate for nurses. Bus drivers are so hard to find that the ministries of transport and education announced this week that states can waive part of the commercial driver’s license requirement to address the shortage. Michigan Schools need more cafeteria workers.

This is the last facet of the Great Resignation. Workers in low-wage industries like hospitality and high-stress industries like healthcare have moved on to other jobs. Many education jobs fall into both categories on the salary and stress scales.

But in education, at least, these challenges precede the pandemic, said Becky Pringle, president of the National Education Association, the largest teachers’ union, in an interview with Nightly. Low salaries and resources for teachers – and low wages and limited career paths for other school workers – led them to stop en masse, she said.

Pringle’s NEA has been tracking the teacher shortage for years. A 2016 survey showed that only 4.2% of freshmen planned to major in education, the lowest point in 45 years.

And that was before the Covid. Layer in pandemic exhaustion, fear of the virus, mental health issues and new teaching models like distance and hybrid learning, and many educators have decided to leave the field, Pringle said.

Despite this, there was a sense of optimism in schools and among teachers this fall, Jane McAlevy, a senior policy researcher at UC Berkeley’s Labor Center, told Nightly. Among the school districts she works with as a union organizer, mainly large urban districts, many teachers were hoping for a better school year, with vaccines and funding from the Biden administration aimed at improving Covid safety in the communities. schools.

But when employees showed up in August, especially in poorer neighborhoods across the country, their buildings lacked essential pandemic tools such as extensive testing programs, HEPA filters, working windows to help. to functional ventilation and water faucets, McAlevey said.

“I remember having a phone call with the leader of the San Francisco Teachers Union… and they had the highest resignations in history of resignations recorded in the second week of school,” McAlevey said, adding that these resignations reflect what is happening in health care. , another mission-oriented field dominated by women.

The network of substitute teachers that schools have relied on for years has also frayed, another problem that precedes Covid. Amanda von Moos, executive director of Substantial Classrooms, an advocacy group for substitute teachers, said the system has not changed in 100 years.

“This is the original concert economy model,” said von Moos, “characterized by great autonomy and flexibility in deciding when and where to work, little or no training or support, a high degree professional isolation and no guarantee of income or professional growth Its main strength has been to keep costs down.

Teacher unions across the country have called for a more cautious approach to getting children back into classrooms, drawing criticism from parents and experts on both right and left.

McAlevy countered that educators agree that face-to-face learning is a better role model. But, she noted, epidemiologists have criticized a vaccine-only approach to reopening society, and that extends to schools, where more testing and mitigation is needed, in her opinion.

Teaching is hard work. And as classrooms across the country are learning, it’s not true that someone has to.

Welcome to POLITICO Nightly. Find news, tips and ideas on [email protected]. Or contact tonight’s author at [email protected], or on Twitter at @MyahWard.

– The killers of Arbery are sentenced to life imprisonment; no parole for the father, the son: Ahmaud Arbery’s family asked a judge to show no mercy in convicting three white men convicted of murder for chasing the fleeing black man in vans, interrupting and fatally killing him shot with a shotgun. During the sentencing hearing, Arbery’s sister recalled her brother’s humor, describing him as a positive thinker with a great personality. She told the judge that her brother had “sun-glistening” dark skin, thick, curly hair and an athletic build, factors that made him a target for men chasing him.

– DeSantis defends the expiration of stored Covid tests: Gov. Ron DeSantis has defended his administration’s decision to allow up to 1 million Covid-19 rapid test kits to expire, as he faces mounting criticism from Democrats for his handling of the Omicron push. Florida Division of Emergency Management Director Kevin Guthrie admitted at a press conference Thursday that the tests have expired, and DeSantis today sought to explain why the state had not distributed them. . DeSantis argued the stock was the result of a lack of demand at the end of 2021 and criticized President Joe Biden’s administration for not granting an extension to keep the tests eligible – which it did in September for three months.

– The Court of Appeal assesses the renewed challenge to the ban on abortion in Texas: A three-judge panel coldly greeted a request by Texas abortion clinics to send a challenge to the state’s controversial abortion ban to a lower court that had previously ruled to block the law. Instead, the 5th U.S. Court of Appeals panel said it would likely side with the state’s demand to let the Texas Supreme Court rule on the constitutionality of the ban – a move that could extend its application for months – and even suggested suspending a decision on who should hear the challenge until the fate of Roe v. Wade be decided later this year.

– The Treasury will send $ 1 billion in rent assistance to states and cities with high demand: The Treasury Department transfers more than $ 1.1 billion in pandemic rental aid to states and cities that quickly spent the first round of aid, clawing back aid that was not used . California, New Jersey, New York and the District of Columbia will each receive tens of millions of dollars from governments with low disbursement rates. Many cities, towns and tribes will also receive additional funds as the Treasury reallocates unspent funds from the first $ 25 billion of the $ 46.5 billion rent relief program authorized by Congress to keep people housed. during Covid-19.

– Meadows urges Supreme Court to rule quickly on Trump’s Jan.6 trial: Former White House chief of staff Mark Meadows, who faces possible criminal charge for defying a subpoena to appear before a Jan.6 select committee, begs the Supreme Court to expedite its review of an action in court filed by Donald Trump – a move he says could get him, and other former Trump aides, off the hook. In a 34-page brief today, Meadows said he and other Trump aides subpoenaed by the Jan.6 committee are caught between a former president – who claims he can still argue the case. executive privilege – and Biden, who rejected Trump’s claims and ordered the release of key documents to congressional investigators.

– Court groped down complaint against former Governor Andrew Cuomo: An Albany criminal court today agreed to drop a forced contact claim against former New York Governor Andrew Cuomo. The complaint, stemming from allegations that Cuomo groped a former staff member, was the only charge against the former governor after a year in which he faced a long list of charges on various matters and resigned last August following complaints of sexual harassment.

BE PREPARED – NATO Secretary General Jens Stoltenberg said today that Western powers braced for the possibility of high-stakes talks with Russia failing, and that the alliance bolstered its military capabilities along its eastern flank and prepared potentially crippling economic sanctions if Moscow attacked Ukraine, David M. Herszenhorn and Jacopo Barigazzi write.

Stoltenberg’s remarks, following a videoconference by NATO foreign ministers, sent a specific warning to the Kremlin ahead of a week of diplomatic talks – in Geneva, Brussels and Vienna – which were sparked by a major Russian military mobilization on the Ukrainian border, and by threats from President Vladimir Putin and other senior Russian officials of an invasion if the United States and NATO allies do not comply with a long list of demands for security.

“NATO will engage in a substantive and good faith dialogue with Russia,” Stoltenberg said in his opening speech at a press conference. “But we also need to be prepared for the possibility that diplomacy will fail.”

Stoltenberg, the alliance’s top civilian leader, was enigmatic when asked for details, but insisted NATO would be ready to face any threat.

COMEDY FITS JAN. 6 ONE YEAR LATER – The commemorations in Washington on Thursday in remembrance of the January 6 uprising may have taken on somber tones, but as Matt Wuerker shows us in the latest Weekend Wrap, political satire and cartoons have yet found ways to grapple with the events of the day and what they mean to our democracy.

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Expect BI enforcement actions and crackdown on the DOL overthrow in 2022 https://gametowne.com/expect-bi-enforcement-actions-and-crackdown-on-the-dol-overthrow-in-2022/ Thu, 06 Jan 2022 21:06:26 +0000 https://gametowne.com/expect-bi-enforcement-actions-and-crackdown-on-the-dol-overthrow-in-2022/ Although the CRS Form, often referred to as Form ADV Part 3, does not need to be updated annually, the “form update status depends on significant changes to its information.” Since companies are also completing form ADV updates for the first quarter “and customer statements are also released at the end of the first quarter, […]]]>

Although the CRS Form, often referred to as Form ADV Part 3, does not need to be updated annually, the “form update status depends on significant changes to its information.”

Since companies are also completing form ADV updates for the first quarter “and customer statements are also released at the end of the first quarter, this would be a good time to evaluate the information in the CRS form and update it. up to date if changes were needed, ”Lynch advised. “The new CRS form could be delivered to clients along with the first quarter statements. “

Schroeder added that, according to the SEC guidelines, “attempts to streamline / adapt the requirements of the CRS form to a company’s business model will not be approved.”

While it is “very real to include all of the information required by the CRS Form in a concise and easy to read format,” Schroeder said, “the SEC has signaled that it will not tolerate the omission of information. , changing prescribed language, changing the order or format of disclosures, or referring to more detailed disclosures outside of the document.

DOL fiduciary rule

On January 4, President Joe Biden appointed Lisa Gomez, an attorney for ERISA, to head the Department of Labor’s Employee Benefits Security Administration, the agency that oversees pension plan rules.

If confirmed by the entire Senate, Gomez will be the go-to person to help Labor pass a new fiduciary rule.

Phyllis Borzi, former director of EBSA, told me in a recent email that she believed EBSA “is quite advanced in thinking (if not drafting) the structure” of the new fiduciary rule.

Fred Reish of Faegre Drinker said that “publication of a proposed new fiduciary definition and associated prohibited transaction exemptions is imminent, possibly within 60 days.”

However, “this could only refer to the submission of these proposals to the White House” for consideration by the Office of Management and Budget, which could take another 60 to 90 days.

What will the new fiduciary rule say?

Borzi said she expects Labor to propose changes “to the core fiduciary definition to correct obvious flaws / loopholes in the five-part test [on who’s a fiduciary] which have clearly emerged since the publication of the original regulation in 1975. “

The work will also likely offer clarifications “in the context of the rollover, limited by the legal constraints they face based on the odd statutory structure where the DOL has interpretative and administrative jurisdiction over the fiduciary definition and interpretations regarding rollovers. of the IRA, but [the Department of the] The Treasury has the enforcement power through the imposition of excise tax “for prohibited transactions exemptions, or PTEs.

“Without a doubt,” Borzi said, “we will see a proposed tightening through the imposition of new limits and conditions on some existing PTEs,” such as PTE 84-24, which applies to insurance sales (insurance- life and variable, fixed indexed and fixed rate annuities) and the collection of commissions.

Labor has also indicated that it intends to review the terms of PTE 2020-02, dubbed “Improving investment advice for workers and retirees,” Borzi said. This exemption, intended to align with SEC regulations, was authorized to take effect by the Biden administration last February.

Labor could also “even come up with an additional PTE,” Borzi said.

Level the playing field

EBSA, in general, said Borzi, “is concerned about the level playing field between conflicting recommendations regarding insurance products and securities.

“As flawed as many of us think, Reg BI at least places some limits on conflicting advice when investments in securities are recommended,” Borzi said.

In contrast, she continued, the “National Association of Insurance Commissioners Model Law (which is applicable only when and to the extent that each state adopts it and without an apparent enforcement mechanism) states clearly that this is simply a codification of the rather unnecessary [FINRA] adequacy standard.

How will Labor “propose to impose greater liability for conflicting insurance product recommendations than is currently the case?” Borzi wondered.

“I wouldn’t be surprised if the proposed expansion of PTE 2020-02 includes integrating some or all of the insurance products into its jurisdiction, but at the very least I expect them to require the addition of impartial standards of conduct to PTE 84-24 and some of the other older PTEs, ”she said.

Regarding Reg BI, “I think staff from both agencies have continued to discuss how to better coordinate the two standards so that key terms in Reg BI are more clearly defined and more consistent,” he said. she declared. “This does not mean that either agency would defer to the other, but rather that the regulatory structures would be more complementary and coherent than they currently are.”


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Cadence Bank Announces Fourth Quarter Results Webcast | 2022-01-04 | Press Releases https://gametowne.com/cadence-bank-announces-fourth-quarter-results-webcast-2022-01-04-press-releases/ Tue, 04 Jan 2022 21:30:26 +0000 https://gametowne.com/cadence-bank-announces-fourth-quarter-results-webcast-2022-01-04-press-releases/ TUPELO, Miss., January 4, 2022 / PRNewswire / – Cadence Bank (NYSE: CADE) to Release Fourth Quarter 2021 Results on Tuesday 25 January 2022, after the close of financial markets. He will also host his results webcast on Wednesday January 26, 2022, at 10:00 a.m. CST. The webcast is live coverage of the management conference […]]]>

TUPELO, Miss., January 4, 2022 / PRNewswire / – Cadence Bank (NYSE: CADE) to Release Fourth Quarter 2021 Results on Tuesday 25 January 2022, after the close of financial markets. He will also host his results webcast on Wednesday January 26, 2022, at 10:00 a.m. CST.

The webcast is live coverage of the management conference call with analysts and can be viewed by visiting: https://ir.cadencebank.com/events. This will be an interactive session between management and analysts; others can listen to the show live as it goes. The conference call will also be available in archived format at the same address.

Cadence bank (NYSE: CADE) is a leading regional banking franchise with approximately $ 50 billion in assets and more than 400 branches in the South, Midwest and Texas. Cadence offers consumers, businesses and businesses a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and commercial banking, cash management, specialty loans , asset loans, commercial real estate, equipment financing, related banking services, SBA loans, foreign exchange, wealth management, investment and trust services, financial planning, pension management and insurance personal and commercial. Cadence is committed to a culture of respect, diversity and inclusion both in its workplace and in its communities. Cadence bank, FDIC member. Equal housing lender.

Show original content:https://www.prnewswire.com/news-releases/cadence-bank-announces-fourth-quarter-earnings-webcast-schedule-301453720.html

THE SOURCE Cadence bank


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2021 Treasury and Risk Management (TRM) System Market Size Analysis by Top Companies https://gametowne.com/2021-treasury-and-risk-management-trm-system-market-size-analysis-by-top-companies/ Sun, 02 Jan 2022 20:41:21 +0000 https://gametowne.com/2021-treasury-and-risk-management-trm-system-market-size-analysis-by-top-companies/ New Jersey, United States, – Market Research Intellect has been analyzing the technology and markets for Treasury and Risk Management (TRM) System since 2018. Since then, through the analysis of company research, we have been very close to the latest research and development of Marlet. In addition, Market Research Intellect works closely with many clients […]]]>

New Jersey, United States, – Market Research Intellect has been analyzing the technology and markets for Treasury and Risk Management (TRM) System since 2018. Since then, through the analysis of company research, we have been very close to the latest research and development of Marlet.

In addition, Market Research Intellect works closely with many clients to help them better understand technology and the market environment and to develop innovation and commercialization strategies.

Market Research Intellect offers extensive expertise in analyzing the Treasury and Risk Management (TRM) systems market. We have been in this industry for 20 years and have closely followed the rise and / or fall, success and / or disappointment of many emerging technologies during this time.

This gives us a unique eye of experience when it comes to analyzing emerging technologies in electronic materials. This is very important as it helps to build a realistic market and technology roadmap that reflects the true potential of the technology based on its intrinsic characteristics and the true level of technology and business challenges it faces.

Get | Download a sample copy with table of contents, graphics and list of [email protected] https://www.marketresearchintellect.com/download-sample/?rid=276758

Further, the market revenue by region and country is provided in the Treasury and Risk Management (TRM) Systems report. The report’s authors also shed light on common business tactics adopted by players. The major players in the Global Treasury and Risk Management (TRM) System Market and their complete profiles are included in the report. Additionally, investment opportunities, recommendations, and current trends in the global Treasury and Risk Management (TRM) System market are mapped by the report. With this report, major players in the global Treasury and Risk Management System (TRM) Market will be able to make sound decisions and plan their strategies accordingly to stay ahead of the curve.

The competitive landscape is an essential aspect that any key player should be aware of. The report highlights the competitive scenario of the Global Treasury and Risk Management (TRM) System Market to know the competition at national and global level. The market experts also provided an overview of each major player in the global Treasury and Risk Management (TRM) System market, taking into account key aspects such as business areas, production, and portfolio of products. Further, the companies in the report are studied on the basis of key factors such as company size, market share, market growth, revenue, production volume, and profit.

The main players covered by the treasury and risk management systems (TRM) markets:

  • ION Trading
  • Fiserv
  • Murex
  • World FIS
  • Edgeverve
  • an Infosys company
  • Finastra
  • Kyriba
  • SAP
  • Wolters Kluwer
  • Calypso technology
  • Inform
  • Q2ebanking
  • Oracle
  • Axiom Software
  • Finance Assets
  • Exela Technologies
  • Silverlake Axis
  • IBM
  • Equifax
  • Riskconnect
  • Temenos AG Group
  • Verint Systems Inc.
  • SmartStream
  • Yonyou

Market Breakdown of Treasury and Risk Management (TRM) System by Type:

Treasury and Risk Management System (TRM) Market Breakdown by Application:

  • Small and medium enterprises
  • Large companies

The Treasury and Risk Management (TRM) System market report has been separated into distinct categories such as product type, application, end user, and region. Each segment is rated on the basis of CAGR, share and growth potential. In the regional analysis, the report highlights the potential region, which is expected to generate opportunities in the global Treasury and Risk Management (TRM) Systems Market in the coming years. This segmental analysis will surely prove to be a useful tool for the readers, stakeholders and market players to get a complete picture of the global Treasury and Risk Management (TRM) Systems Market and its potential to grow. growth in the years to come.

Get | Discount on purchasing this report @ https://www.marketresearchintellect.com/ask-for-discount/?rid=276758

Scope of Treasury and Risk Management (TRM) System Market Report

Report attribute Details
Market size available for years 2021 – 2028
Reference year considered 2021
Historical data 2015 – 2019
Forecast period 2021 – 2028
Quantitative units Revenue in millions of USD and CAGR from 2021 to 2027
Covered segments Types, applications, end users, etc.
Cover of the report Revenue forecast, company ranking, competitive landscape, growth factors and trends
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Scope of customization Free customization of the report (equivalent to 8 working days for analysts) with purchase. Add or change the scope of country, region and segment.
Price and purchase options Take advantage of custom shopping options to meet your exact research needs. Explore purchasing options

Regional Market Analysis The Treasury and Risk Management (TRM) system can be represented as follows:

Each regional area of ​​the treasury and risk management (TRM) system is carefully studied to understand its current and future growth scenarios. It helps the players to strengthen their position. Use market research to get a better perspective and understanding of the market and target audience and to ensure you stay ahead of the competition.

Based on geography, Global Treasury and Risk Management (TRM) System Market has segmented as follows:

    • North America includes the United States, Canada and Mexico
    • Europe includes Germany, France, UK, Italy, Spain
    • South America includes Colombia, Argentina, Nigeria and Chile
    • Asia-Pacific includes Japan, China, Korea, India, Saudi Arabia and Southeast Asia

Key questions answered in the report:

  • What is the growth potential of the treasury and risk management (TRM) system markets?
  • Which product segment will take the lion’s share?
  • Which regional market will emerge as a precursor in the years to come?
  • Which application segment will grow at a sustained rate?
  • What are the growth opportunities that could emerge in the lock washer industry in the years to come?
  • What are the main challenges that the global treasury and risk management (TRM) system markets may face in the future?
  • Who are the leading companies in the global Treasury and Risk Management (TRM) System market?
  • What are the main trends that are positively impacting the growth of the market?
  • What are the growth strategies considered by the players to maintain their grip on the global treasury and risk management (TRM) systems market?

For more information or a query or a personalization before purchasing, visit @ https://www.marketresearchintellect.com/product/global-treasury-and-risk-management-trm-system-market-size-and-forecast/

Visualize Treasury and Risk Management (TRM) Systems Market Using Verified Market Intelligence: –

Verified Market Intelligence is our BI platform for telling the story of this market. VMI provides in-depth predictive trends and accurate insight into over 20,000 emerging and niche markets to help you make key revenue impact decisions for a bright future. VMI provides a comprehensive overview and global competitive landscape by regions, countries and segments, as well as as key players in your market. Present your market reports and findings with built-in presentation capabilities, delivering over 70% of time and resources to investors, sales and marketing, R&D and product development. VMI supports data delivery in interactive Excel and PDF formats and provides over 15 key market indicators for your market.

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The study thoroughly explores the profiles of the major market players and their main financial aspects. This comprehensive business analyst report is useful for all existing and new entrants when designing their business strategies. This report covers the production, revenue, market share, and growth rate of the Treasury and Risk Management System (TRM) market for each key company, and covers the breakdown data (production, consumption, revenue, and share). market) by regions, type and applications. Historical cash flow and risk management (TRM) system breakdown data from 2016 to 2020 and forecast to 2021-2029.

About Us: Market Research Intelligence

Market Research Intellect provides syndicated and personalized research reports to clients from various industries and organizations in addition to the goal of providing personalized and in-depth research studies. range of industries, including energy, technology, manufacturing and construction, chemicals and materials, food and beverage. Etc. Our research studies help our clients make more data-driven decisions, admit push predictions, grossly capitalize on opportunities, and maximize efficiency by acting as their criminal belt to adopt accurate mention and essential without compromise. clients, we have provided expertly-behaved affirmation research facilities to over 100 Global Fortune 500 companies such as Amazon, Dell, IBM, Shell, Exxon Mobil, General Electric, Siemens, Microsoft, Sony and Hitachi.

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The Giving Tree initiative makes children smile https://gametowne.com/the-giving-tree-initiative-makes-children-smile/ Fri, 31 Dec 2021 19:04:37 +0000 https://gametowne.com/the-giving-tree-initiative-makes-children-smile/ The KPMG team with their bundle of gifts for The Giving Tree. 21123004 The Bank of South Pacific (BSP) branch in the Cook Islands has had one of its most successful years to date with its annual Christmas Giving Tree initiative. Over 640 gifts have successfully reached the children of the 12 islands. The islands […]]]>

The KPMG team with their bundle of gifts for The Giving Tree. 21123004

The Bank of South Pacific (BSP) branch in the Cook Islands has had one of its most successful years to date with its annual Christmas Giving Tree initiative. Over 640 gifts have successfully reached the children of the 12 islands.

The islands of Penrhyn, Manihiki, Rakahanga, Palmerston, Mauke, Atiu, Mitiaro, Mangaia, Aitutaki, Rarotonga, Pukapuka and Nassau all received gifts, and all but one of the islands received their gifts just in time for Christmas Day .

The BSP Giving Tree is an annual tradition that dates back over 13 years. In partnership with the Ministry of the Interior, they were able to deliver gifts during the year to less fortunate children in Rarotonga and Pa Enua.

David Street, National Director of BSP, said: “The Giving Tree is something that we have continued to push forward. The main objective is to make sure that the less unhappy children who may not have a gift for Christmas are smiling again and that is what drives us. We are delighted to give children a gift that will bring them a big smile for Christmas.

MFEM who contributed to The Giving Tree this year. 21123005

The support from the community has been incredible, says Street. Support companies adopted different islands and their staff bought gifts. CITC and Mareko graciously offered discounts on purchases and Taio Shipping provided subsidized transport to many outer islands.

“We are extremely grateful for the generous support from the community and look forward to continuing the initiative into 2022,” Street said.

Logistically, it has always been a big challenge to collect and ensure that all the gifts are dispatched on time for Christmas. A total of 12 out of 15 islands were covered in 2021 and BSP was able to ensure that all but one of the islands received their gifts before Christmas Day which was a great result.

Planning by the staff begins in August each year, with plenty of fundraisers along the way, including sizzling sausages.

The CITC team with big smiles for Christmas. 21123006

Street said, “Staff cannot do it alone and the generous support of the community and help from business partners are always sought and appreciated.”

He extended a great meitaki both to community members who bought gifts and to supporting businesses. Supporting companies this year included Taio Shipping, Avarua Bakery, CITC, Mareko, Federal Pacific Insurance, and Cook Islands Building Supplies.

Staff from the following companies and agencies helped with the giveaways: Prime Foods, Treasury Management Division (MFEM), MMR, Tangata Family, TEM Store, ANZ Bank, Asiaciti, Tower Insurance, Pacific Resort, Vodafone, LMPC, MFEM, and KPMG.

Island representatives from each island confirmed that the gifts had all been received with photos of smiling children slowly filtering through.

“This is probably the best year we have had with the giving tree. It continues to improve year after year. We will be back in 2022 and we look forward to continuing, ”Street said.


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Pacific Premier Bancorp, Inc. to Report Fourth Quarter 2021 Financial Results on January 20, 2022 https://gametowne.com/pacific-premier-bancorp-inc-to-report-fourth-quarter-2021-financial-results-on-january-20-2022/ Thu, 30 Dec 2021 13:57:00 +0000 https://gametowne.com/pacific-premier-bancorp-inc-to-report-fourth-quarter-2021-financial-results-on-january-20-2022/ IRVINE, Calif .– (COMMERCIAL THREAD) – Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) (“Pacific Premier”), the holding company of Pacific Premier Bank, today announced that it will release its fourth quarter 2021 financial results ahead of the opening of market on Thursday, January 20, 2022. Pacific Premier will also host a conference call at 9:00 a.m. […]]]>

IRVINE, Calif .– (COMMERCIAL THREAD) – Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) (“Pacific Premier”), the holding company of Pacific Premier Bank, today announced that it will release its fourth quarter 2021 financial results ahead of the opening of market on Thursday, January 20, 2022.

Pacific Premier will also host a conference call at 9:00 a.m. PT / 12:00 p.m. ET that day to discuss its financial results. Analysts and investors can participate in the question-and-answer session. The conference call will be webcast live Webcasts Pacific Premier’s investor relations website page, and an archived version of the webcast will be available at the same location shortly after the live call ends.

Conference Call, Webcast, and Replay Information:

Date: Thursday, January 20, 2022

Time: 9:00 a.m. PT / 12:00 p.m. ET

Telephone access:

United States: 1-844-200-6205

United States (local): 1-646-904-5544

All other locations: + 1-929-526-1599

Access code: 905653

Telephone replay (available until January 27, 2022):

United States: 1-866-813-9403, access code 181120

Webcast access: https://services.choruscall.com/links/ppbi220120.html

About Pacific Premier Bancorp, Inc.

Pacific Premier Bancorp, Inc. (Nasdaq: PPBI) is the parent company of Pacific Premier Bank, a California commercial bank focused on serving small, medium-sized, and western US businesses in major California metropolitan markets. , Washington, Oregon, Arizona and Nevada. Founded in 1983, Pacific Premier Bank has grown into one of the largest banks headquartered in the western region of the United States, with total assets of $ 21 billion. Pacific Premier Bank provides banking products and services, including deposit accounts, digital banking, and cash management services, to businesses, professionals, entrepreneurs, real estate investors, and not-for-profit organizations. Pacific Premier Bank also offers a wide range of loan products, such as commercial loans, lines of credit, SBA loans, commercial real estate loans, agri-food loans, franchise loans, home equity lines of credit and construction loans. Pacific Premier Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Commerce Escrow division. Pacific Premier Bank provides IRA custodial services to clients through its Pacific Premier Trust division, which has over $ 17 billion in assets in custody and approximately 44,000 client accounts comprised of self-directed investors, d financial institutions, syndicators of capital and financial advisers. Additionally, Pacific Premier Bank provides nationwide custom banking solutions to homeowners associations and property management companies. Pacific Premier Bank is an equal housing lender and member of the FDIC. For more information on Pacific Premier Bancorp, Inc. and Pacific Premier Bank, visit our website: www.ppbi.com.


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Uyghur Forced Labor Prevention Law: What It Means for the Solar Supply Chain | Bradley Arant Boult Cummings LLP https://gametowne.com/uyghur-forced-labor-prevention-law-what-it-means-for-the-solar-supply-chain-bradley-arant-boult-cummings-llp/ Tue, 28 Dec 2021 16:49:36 +0000 https://gametowne.com/uyghur-forced-labor-prevention-law-what-it-means-for-the-solar-supply-chain-bradley-arant-boult-cummings-llp/ On December 23, 2021, President Biden enacted the law HR 6256, known as the Uyghur Law on the Prevention of Forced Labor. The law seeks to stem the importation of goods manufactured by forced labor from the Xinjiang Uyghur Autonomous Region of the People’s Republic of China (the “Xinjiang Region”) into the United States. The […]]]>

On December 23, 2021, President Biden enacted the law HR 6256, known as the Uyghur Law on the Prevention of Forced Labor. The law seeks to stem the importation of goods manufactured by forced labor from the Xinjiang Uyghur Autonomous Region of the People’s Republic of China (the “Xinjiang Region”) into the United States. The law provides additional enforcement tools to complement already existing protections against the importation of goods produced by forced labor.

Implementation of the law

The law directs a federal task force to develop a strategy to combat the importation of goods mined, produced or manufactured in whole or in part using forced labor in China. This strategy is to be developed over a period of approximately four months and will include the solicitation of public comments and a public hearing. The task force will submit a report outlining its strategy within six months of enactment of the law. The report should also include the following:

  1. A list of entities in the Xinjiang region that extract, produce or manufacture all or part of goods, commodities, articles and commodities with forced labor;
  2. A list of entities working with the government of the Xinjiang region to recruit, transport, transfer, harbor or receive forced labor or Uyghurs, Kazakhs, Kyrgyz or members of other persecuted groups outside the Xinjiang region;
  3. A list of products extracted, produced or manufactured in whole or in part by entities appearing on the list required by clause (i) or (ii);
  4. A list of the entities which exported the products described in clause (iii) from the People’s Republic of China to the United States;
  5. A list of facilities and entities, including the Xinjiang Production and Construction Corps, which source materials from the Xinjiang region or people working with the Xinjiang region government or the Production Corps and building Xinjiang for the purposes of “poverty reduction” program or “twinning assistance” program or any government labor program that uses forced labor;
  6. A plan for the identification of additional facilities and entities described in clause (v);
  7. An enforcement plan for each of those entities whose goods, items or merchandise are exported to the United States, which may include the issuance of withholding orders to support the application of Section 4 to the ‘regard to the entity;
  8. A list of priority sectors for the application, which will include cotton, tomatoes and polysilicon; and
  9. An application plan for each of these high priority sectors. (it is we who underline)

The working group will also provide importers of potentially forced labor products with additional guidance on how to identify and trace these products in order to limit their entry into the United States and to assist importers in locating and obtaining products that avoid the use of forced labor in regions or countries of concern. The guidance will include the following:

  1. Due diligence, effective supply chain tracing and supply chain management measures to ensure that these importers do not import any good extracted, produced or manufactured in whole or in part with the forced labor of the People’s Republic of China, especially the Xinjiang region;
  2. The type, nature and extent of the evidence demonstrating that the goods originating in the People’s Republic of China were not extracted, produced or manufactured in whole or in part in the Xinjiang region; and
  3. The type, nature and extent of evidence demonstrating that goods originating in the People’s Republic of China, including goods detained or seized under section 307 of the Tariff Act of 1930 (19 USC 1307), no. ‘were not extracted, produced or manufactured in whole or in part for forced labor.

The provisions of the “rebuttable presumption” Act

With respect to all goods, merchandise, articles and merchandise mined, produced or manufactured in whole or in part in the Xinjiang region or produced by the entities listed in the report to Congress (see (i), (iii), ( (iv) and (v) above), the statute provides that the United States Commissioner of Customs will apply a presumption that such goods are produced in violation of Section 307 of the Tariff Act (covering the prohibition of import goods using forced labor) and are prohibited from entering the United States. The Commissioner will apply this “rebuttable presumption” unless it determines (1) that the importer of record has (A) fully complied with the guidelines described above and any regulations issued to implement those guidelines, and (B) responded fully and substantially to all requests for information submitted by the Commissioner to determine whether the goods were extracted, produced or manufactured in whole or in part with forced labor; and (2) by clear and convincing proof that the good, commodity, article or commodity was not extracted, produced or manufactured in whole or in part by forced labor.

Challenges for the solar industry

The focus of the law on the polysilicon sector will have a substantial impact on the solar photovoltaic (PV) module market in the coming months. Indeed, in anticipation of the adoption of the law (and following the Addition of the Commerce Department to its list of prohibited importer entities several silicon producers based in the Xinjiang region last summer), many solar PV developers and entrepreneurs have already abandoned the purchase of PV modules from manufacturers with known ties to the Xinjiang region, where a significant amount of crude polysilicon. There remains, however, great uncertainty as to which entities will be included on the list to which the “rebuttable presumption” of the law applies – an issue that will undoubtedly be hotly debated given the consequences. Listed entities may have to severely limit their presence in the US market, or even find it impossible to maintain a presence and exit the US altogether.

Solar PV developers and contractors should consider immediate mitigation measures to avoid potentially catastrophic impacts of their projects being involved in forced labor issues, including law violations. Cautious mitigation measures may include:

  • Implement strong PV manufacturer supply chain traceability audit programs to identify potential areas of concern regarding forced labor;
  • Engage with manufacturers of photovoltaic modules in an immediate due diligence of their supply of polysilicon, in particular by addressing any potential risk of application of section 307;
  • Review and secure forms of performance guarantees from manufacturers of PV modules (e.g., bonds, letters of credit, etc.) to provide adequate remedy in the event of default, particularly where the manufacturers have a limited presence in the United States ;
  • Identify and develop relationships with other PV module manufacturers to diversify supply options in the event that PV modules need to be replaced or substituted due to an import ban; and
  • Restrict or delay purchases of photovoltaic modules to the extent possible pending greater clarity and certainty on how the implementation of the law will unfold.

Compliance programs for international trade management

As the legal challenges facing the solar industry show, there is no “one size fits all” approach to legal compliance programs for managing international trade. The Association of Solar Energy Industries has developed its own solar supply chain traceability protocol, and encourages its members to sign the Solar industry’s commitment to environmental and social responsibility.

In addition to the purchase of photovoltaic modules in the solar industry, it is likely that other sectors of the renewable energy industry will be affected by the law early in its implementation process: for example, lithium mined in the Xinjiang region and used for battery energy storage the systems may be subject to the same increased control over imports under the law.

We can continue to expect understandable concerns and related policy changes regarding human rights issues across the global trade industry in the years to come. In order to ensure the integrity of the supply chain and mitigate the risks of violating trade regulations and sanction laws, PV developers and contractors should consider implementing strong internal compliance programs in line with risk-based guidelines from Foreign Assets Control Office (OFAC) (the Treasury Department’s Sanctions Program Administrator).


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