Featured Events
Through the BABC, members have the opportunity to develop valuable business contacts within the British American community and to exchange ideas and information with a cross section of business, trade and governmental interests.
Club Level Highlight
Brexit: Forging the New U.K. – U.S. Relationship – Faegre Drinker Biddle & Reath
The United Kingdom (U.K.) left the European Union (EU) on 31 January 2020. Under the U.K.- EU withdrawal agreement, a transition period will end on 31 December 2020 (unless it is extended). During the transition period the U.K. will continue to participate in the single market and customs union and will otherwise be treated as if it were still an EU member state. For its part, the United States (U.S.) has shown strong interest in strengthening ties with the U.K on trade and a host of related regulatory and national security issues, many of which have strong bipartisan support in the U.S. Congress. As a result, a possible U.S.-U.K. trade agreement is likely to be a priority for the U.S. regardless of the outcome of the upcoming November 2020 presidential election.
For the U.K. Government, the end of the transition period is politically symbolic, and it has been reluctant to extend it. Although the negotiations between the EU and U.K. are continuing remotely, the coronavirus pandemic has significantly increased uncertainties. The economic impact of the shutdown of the U.K. economy in order to fight the coronavirus could be substantial and could potentially change the U.K. Government’s stated position and political calculations going forward. If the deadline were not extended and the U.K. were to reach the end of the transition period with no trade deal, the relationship would revert to World Trade Organisation rules. U.K. businesses would then be required to deal with the double shock of the coronavirus shutdown, as well as a complete overhaul to the terms in which they operate. The EU is facing challenges as well, since fighting the coronavirus pandemic is testing its resources and the cohesion between Member States.
Recent News
Member Feature – Forensic Resolutions, Inc.
This week’s BABCPHL Corporate Member feature is Forensic Resolutions, Inc., a Firm dedicated to the field of forensic and investigative accounting matters relating to economic damages, fraud, insurance claims and myriad financial disputes. Howard Silverstone, BABCPHL prior President, current Membership Chairman and decades-long Board Member, is one of the founding partners of Forensic Resolutions. While there is always an opportunity for criminals to take advantage of innocent people and businesses, Coronavirus is providing fertile ground for fraudsters to exploit fear and confusion. Howard and his team are dedicated to identifying and preventing all kinds of scams. Forensic Resolutions is particularly attuned to coronavirus-related fraud. Coronavirus does not only threaten health, supply chains and the global economy, it is also threatening those who fall prey to fraudulent activity. Howard is frequently interviewed and quoted by news outlets about the various ways people ae being tricked and taken advantage of by criminals. Today, well-meaning people are increasingly falling victim to fraud in new ways, such as being cheated out of their Federal Government stimulus checks; trying to “do good” by creating their own charitable organizations; or donating to charities believed to be legitimate. Hypervigilance is key, not just steering clear of Covid-19 and staying healthy, but avoiding swindlers, who are taking advantage of this tenuous global situation, is a must during this time. Special thanks and recognition to Howard and his colleagues for their expertise in recognizing illegal activity and helping protect people and businesses from this duplicitous threat.
