Featured Stories
Nixon Peabody Strengthens Securities Capabilities With Partner Stephen E. Fox
ALBANY, New York, July 8 -- Nixon Peabody, a law firm, issued the following news release:
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Nixon Peabody strengthens securities capabilities with partner Stephen E. Fox
Long Island, NY. Nixon Peabody LLP has expanded its Corporate practice with the addition of Stephen E. Fox, an experienced securities and capital markets attorney.
Stephen, who joins as partner in Nixon Peabody's Long Island office and as a member of the firm's Securities & Capital Markets team, advises domestic public companies, foreign private issuers, and special purpose acquisition companies (SPAC) on Exchange Act reporting
... Show Full Article
ALBANY, New York, July 8 -- Nixon Peabody, a law firm, issued the following news release:
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Nixon Peabody strengthens securities capabilities with partner Stephen E. Fox
Long Island, NY. Nixon Peabody LLP has expanded its Corporate practice with the addition of Stephen E. Fox, an experienced securities and capital markets attorney.
Stephen, who joins as partner in Nixon Peabody's Long Island office and as a member of the firm's Securities & Capital Markets team, advises domestic public companies, foreign private issuers, and special purpose acquisition companies (SPAC) on Exchange Act reportingand stock exchange compliance. His experience includes initial public offerings (IPOs) and a broad variety of registered and unregistered offerings, private placements, private investment in public entity transactions (PIPE), and reverse mergers into SPACs and other public companies. Stephen also advises on the structuring of digital asset treasury transactions.
"Stephen brings more than 25 years of experience advising on the full range of securities and capital markets matters, and he has a demonstrated track record of helping clients meet their business goals," said Nixon Peabody partner Todd Tidgewell, leader of the firm's Corporate practice. "In addition to strengthening our capabilities in complex and in-demand areas, Stephen is an excellent fit for our firm's collaborative culture."
Complementing his securities and capital markets work, Stephen supports clients with mergers and acquisitions and broader corporate matters across a company's lifecycle, from formation and early-stage financing through institutional rounds and strategic exits. He regularly serves as outside general counsel on day-to-day corporate needs and acts as lead counsel on significant transactions. Stephen has advised both strategic and financial clients across numerous industries, including technology, medical devices, manufacturing, entertainment and media, energy, food and beverage, and financial institutions.
"I've known Stephen for several years, and he has always demonstrated a business-minded and level-headed approach to the practice of law," said Allan Cohen, managing partner of Nixon Peabody's Long Island office. "His practice strengthens our ability to support clients and their businesses, and we are excited to welcome Stephen to the firm."
Stephen earned his JD from New York Law School and his BA from the State University of New York (SUNY) at Albany.
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Original text here:
[Category: BizLaw/Legal]
Marcus & Millichap Facilitates Sale of CubeSmart Self Storage in San Antonio
ENCINO, California, July 8 -- Marcus and Millichap issued the following news release on July 7, 2026:
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Marcus & Millichap Facilitates Sale of CubeSmart (Managed) Self Storage in San Antonio
SAN ANTONIO -- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of CubeSmart (Managed) Self Storage, a 115,240-square-foot self-storage facility in San Antonio.
"Well-located Class A facilities in major markets like San Antonio and Austin remain highly desirable, particularly
... Show Full Article
ENCINO, California, July 8 -- Marcus and Millichap issued the following news release on July 7, 2026:
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Marcus & Millichap Facilitates Sale of CubeSmart (Managed) Self Storage in San Antonio
SAN ANTONIO -- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of CubeSmart (Managed) Self Storage, a 115,240-square-foot self-storage facility in San Antonio.
"Well-located Class A facilities in major markets like San Antonio and Austin remain highly desirable, particularlythose positioned near major employment centers and transportation corridors," said Jon Danklefs, managing director investments.
Danklefs, investment specialist in Marcus & Millichap's San Antonio office, exclusively marketed the property on behalf of the seller, a New Jersey-based limited liability company, and procured the buyer, Public Storage.
The property is located at 7930 S.W. Loop 410. Built in 2023, the Class A self-storage facility totals 645 units on 10.66 acres. The property was approximately 89% occupied at the time of sale and benefits from more than 500 feet of frontage along Loop 410, with visibility to almost 60,000 vehicles per day.
The property will be rebranded as Public Storage following the acquisition.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
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Original text here: https://www.marcusmillichap.com/news-events/press/2026/07/7-7-26-cubesmart-managed
[Category: BizRealEstate]
Marcus & Millichap Arranges Sale of 88-Site Senior Manufactured Housing Community in Escondido, California
ENCINO, California, July 8 -- Marcus and Millichap issued the following news release on July 7, 2026:
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Marcus & Millichap Arranges Sale of 88-Site Senior Manufactured Housing Community in Escondido, California
ESCONDIDO, Calif. - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 2250 N. Broadway, a senior manufactured housing community, comprised of 88 sites in Escondido, California.
"The property represented a rare opportunity to acquire a high-quality
... Show Full Article
ENCINO, California, July 8 -- Marcus and Millichap issued the following news release on July 7, 2026:
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Marcus & Millichap Arranges Sale of 88-Site Senior Manufactured Housing Community in Escondido, California
ESCONDIDO, Calif. - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 2250 N. Broadway, a senior manufactured housing community, comprised of 88 sites in Escondido, California.
"The property represented a rare opportunity to acquire a high-qualitysenior manufactured housing community in one of Southern California's most supply-constrained markets," said Dustin Wilmer, managing director investments. "Investor interest was driven by the community's strong fundamentals, extensive amenities and pride of ownership. The buyer plans to continue operating the property to the same high standards while adhering to the City of Escondido's manufactured housing community regulations."
Wilmer, Douglas Danny, Casper Rooney and Jared Wallach, members of The Wilmer & Danny Group specializing in the nationwide marketing and sales of manufactured housing communities and RV resorts in Marcus & Millichap's San Diego Del Mar office, had the exclusive listing to market the property on behalf of the seller, Sundance MHP LP, and procured the buyer, a private investor.
Built in 1977, Sundance Mobile Home Park is an 88-site senior manufactured housing community situated on a 13.73-acre parcel in Escondido, California. Located in North San Diego County, the property consists primarily of ground-set double-wide homes and features a clubhouse, pool and spa, fitness center, billiards and game room, laundry facility, restroom and kitchen facilities.
The asset benefits from proximity to major transportation corridors, employment centers and regional amenities and also offers subdivision potential.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
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Original text here: https://www.marcusmillichap.com/news-events/press/2026/07/7-7---sundance-mobile-home-park
[Category: BizRealEstate]
Gartner Survey Finds Customers Are 3x More Likely to Use Third-Party GenAI Than Company-Provided Chatbots for Customer Service
STAMFORD, Connecticut, July 8 (TNSrep)-- Gartner, an information technology research and advisory company, issued the following news release:
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Gartner Survey Finds Customers Are 3x More Likely to Use Third-Party GenAI Than Company-Provided Chatbots for Customer Service
Service and Support Leaders Should Rethink Standalone Chatbot Investments as Customers Turn to Third-Party GenAI Tools
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Customers are approximately three times more likely to use third-party GenAI tools than company-provided chatbots when resolving customer service issues, according to a survey by Gartner, Inc., a business
... Show Full Article
STAMFORD, Connecticut, July 8 (TNSrep)-- Gartner, an information technology research and advisory company, issued the following news release:
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Gartner Survey Finds Customers Are 3x More Likely to Use Third-Party GenAI Than Company-Provided Chatbots for Customer Service
Service and Support Leaders Should Rethink Standalone Chatbot Investments as Customers Turn to Third-Party GenAI Tools
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Customers are approximately three times more likely to use third-party GenAI tools than company-provided chatbots when resolving customer service issues, according to a survey by Gartner, Inc., a businessand technology insights company.
A Gartner survey of 3,566 B2B and B2C customers, conducted in February and March 2026, identified three key shifts in customer behavior: customers are far more likely to use third-party GenAI tools than company-provided chatbots; customers are using GenAI to complete tasks and take action, not only to get answers; and customers expect the option to reach a human agent when companies use AI in customer service (see Figure 1).
"Customers are embracing GenAI in both life and work, but so far, that has not translated into growth in the use of company-provided customer service chatbots," said Eric Keller, Sr Director Analyst in the Gartner Customer Service & Support Practice. "Instead, GenAI is shifting some service interactions outside of company-owned channels."
Figure 1: Customer Use of AI During Service and Support Interactions
Customers Are Taking Service Issues Outside Company-Owned Channels
Use of third-party GenAI tools during service and support interactions has nearly doubled in the past year, while use of company-provided chatbots has remained statistically unchanged since 2022. This lackluster adoption may help explain why many customer service organizations have yet to see financial returns from their AI investments.
According to a separate Gartner survey of 1,303 senior leaders across various industries, conducted in January through April 2026, service and support leaders invested a median of 12% of their 2025 budget in AI, the highest amount among the 10 business functions assessed. However, only 24% of service and support leaders demonstrated positive financial returns across their AI use cases.
"The disappointing impact of customer-facing GenAI investments has less to do with technology limitations and more to do with misalignment with customer expectations," said Keller. "Rather than investing primarily in standalone chatbots, organizations should focus on AI-enabled service journeys that help customers resolve issues across digital and voice channels."
Customers also expect GenAI to help them complete tasks, not only answer questions. Among customers who use GenAI, 58% said they have used it to complete a task on their behalf. In B2B environments, this rises to 74%.
"Many company-provided chatbots are still designed primarily to answer questions, but customers increasingly expect AI to help them take action, such as booking an appointment, submitting documents or updating their account," said Keller. "Service and support leaders should redesign digital support around conversational, action-oriented experiences, rather than treating GenAI as a standalone chatbot."
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Additional Insights Available
Gartner clients can read more in the report "Customer Insights 2026: Align GenAI Investments With New Customer Behaviors" (https://www.gartner.com/document-reader/document/7976937?ref=follow-dashboard) or in the upcoming Virtual Briefing Closing the AI Value Gap for Customer Service Leaders (https://www.gartner.com/en/webinar/890560/1897003-virtual-briefing-closing-the-ai-value-gap-for-customer-service-leaders?utm_campaign=RM_GB_2026_GCSSL_NPP_PR1_VBCLOTAIVALUGAPJUL26).
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Gartner is the World Authority on AI
Gartner is an indispensable partner to C-Level executives and technology providers as they implement AI strategies to achieve their mission-critical priorities. The independence and objectivity of Gartner insights provide clients with the confidence to make informed decisions and unlock the full potential of AI. Clients across the C-Level are using Gartner's proprietary AskGartner AI tool to determine how to leverage AI in their business. With more than 2,500 business and technology experts, 6,000 written insights, as well as more than 4,000 AI use cases and case studies, Gartner is the world authority on AI. More information can be found here.
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About Gartner Customer Service & Support Conference
Gartner Customer Service & Support Conference is taking place November 4-5, 2026, in Denver, providing customer service and support leaders with actionable advice about the trends, tools and emerging technologies they need to deliver business results in an AI-driven world. Gartner analysts address the biggest opportunities, challenges and priorities in the market today, including the latest advancements in AI , innovative strategies that are transforming customer experience, streamlining support channels and harnessing data to drive results to shape the future of their organizations. Follow news and updates coming out of the conference on the Gartner Newsroom and on X and LinkedIn using #GartnerCSS.
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About Gartner for Customer Service & Support Leaders
The customer service and support function is vital to maintaining customer loyalty and influencing brand perceptions. Gartner for Customer Service & Support Leaders provides indispensable insights, advice and tools needed to achieve service and support leaders' mission-critical priorities, specifically improving the customer experience while managing costs; designing an optimal service channel strategy; measuring and reducing customer effort; and how to hire, develop and retain high-potential frontline talent.
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Original text here: https://www.gartner.com/en/newsroom/press-releases/2026-07-08-gartner-survey-finds-customers-are-three-times-more-likely-to-use-third-party-genai-than-company-provided-chatbots-for-customer-service
[Category: BizConsulting]
Frankfurt International Bank Selects FIS to Bypass Legacy Infrastructure and Power Cloud-Native Treasury From Day One
JACKSONVILLE, Florida, July 8 -- FIS, a financial technology company, issued the following news release:
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Frankfurt International Bank Selects FIS to Bypass Legacy Infrastructure and Power Cloud-Native Treasury from Day One
* Frankfurt International Bank AG (FIB) has selected FIS Treasury & Risk Manager - Quantum Cloud Edition as its core treasury and risk management platform.
* The agreement reflects a broader shift among next-generation banks who are choosing cloud-native SaaS platforms as their foundational architecture from inception, rather than inheriting and modernizing aging on-premise
... Show Full Article
JACKSONVILLE, Florida, July 8 -- FIS, a financial technology company, issued the following news release:
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Frankfurt International Bank Selects FIS to Bypass Legacy Infrastructure and Power Cloud-Native Treasury from Day One
* Frankfurt International Bank AG (FIB) has selected FIS Treasury & Risk Manager - Quantum Cloud Edition as its core treasury and risk management platform.
* The agreement reflects a broader shift among next-generation banks who are choosing cloud-native SaaS platforms as their foundational architecture from inception, rather than inheriting and modernizing aging on-premisesystems.
* FIS Treasury & Risk Manager - Quantum Cloud Edition delivers fully integrated front-to-back treasury coverage.
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Global financial technology leader FIS(R) has been selected by Frankfurt International Bank AG (FIB), a newly licensed German bank, to power its treasury and risk operations. The bank has selected FIS Treasury & Risk Manager - Quantum Cloud Edition, which will deliver fully integrated front-to-back treasury coverage from day one, enabling the bank to build on modern infrastructure from inception, without inheriting or modernizing aging on-premise systems.
As financial institutions face mounting pressure from rising IT costs, tightening regulatory expectations, and accelerating competition, a growing number of next-generation banks are concluding that building on legacy, on-premise treasury infrastructure is not a viable starting point. FIB has instead decided to establish institution-grade treasury capabilities from inception, combining front-to-back automation, robust governance, and cloud-based scalability, reflecting a structural shift in how new market entrants approach treasury technology. FIB is already live with the solution, with ALM Partners helping to successfully complete the implementation project and give the bank institutional-grade treasury infrastructure from day one.
Andres Choussy, President, Capital Markets, FIS said: "The pace of change in treasury and risk management is accelerating, with regulatory complexity, real-time settlement expectations, and the operational demands of running a modern bank all combining to create problems for banks on legacy software. By partnering with FIS, FIB has made a deliberate choice to start with infrastructure that is built for where banking is going, not where it has been. FIS Treasury & Risk Manager - Quantum Cloud Edition delivers exactly that: the controls, automation, and scalability FIB needs from day one."
Florian Pointner, Head of Treasury, at FIB said: "When establishing our treasury operations, we were deliberate about the infrastructure choices we made from the outset. For a bank built around export finance and complex cross-border transactions, operational resilience and governance are not optional, they are fundamental. FIS Treasury & Risk Manager - Quantum Cloud Edition gave us the front-to-back coverage and capabilities we required, within a managed cloud model that allows us to deploy our resources where they create the most value for our clients."
"After just 10 weeks of implementation, FIB has already gone live with the first part of the solution, demonstrating a remarkably fast time to value," said Peter Woeste Christensen, Director at Magpie, FIB's external consultant, who led the design of the treasury target operating model and the selection of FIS Quantum as the enabling platform. "This is a groundbreaking project that sets a new benchmark for how next-generation banks can deploy institutional-grade treasury infrastructure from day one. FIB's implementation reflects a broader market shift toward standardization across products, processes from execution to settlement, and cloud-based technology, and FIS Treasury & Risk Manager - Quantum Cloud Edition delivers exactly that out of the box. The fact that FIB has gone live as planned is a testament to the quality of execution by both FIB and FIS."
Teemu Huotari, Manager at ALM Partners, said: "The 10-week implementation timeline set an ambitious pace for all project stakeholders, but the sheer expertise and commitment of every project party ensured a timely go-live. ALM Partners' client-oriented and delivery-driven work, combined with a modern cloud-native treasury solution, FIS Treasury & Risk Manager - Quantum Cloud Edition, has ensured FIB to position themselves at the forefront of the operational treasury landscape."
FIS Treasury & Risk Manager - Quantum Cloud Edition provides FIB with end-to-end front-to-back treasury workflows, covering key asset classes and lifecycle events with strong straight-through processing and controls. The platform's managed cloud model eliminates the need to build and operate complex on-premise infrastructure, giving FIB the operational resilience, predictable cost structure, and scalability required to support rapid growth.
Frankfurt International Bank AG is a licensed German bank headquartered in Frankfurt am Main, specializing in export finance and mission-critical banking solutions for internationally active clients. The bank focuses on areas where financing and banking infrastructure are often underserved, combining clear product focus, digital delivery, and efficient execution.
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About FIS
FIS is a financial technology company providing solutions to financial institutions and businesses. We unlock financial technology to the world across the money lifecycle underpinning the world's financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500(R) and the Standard & Poor's 500(R) Index.
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Original text here: https://www.fisglobal.com/about-us/media-room/press-release/2026/frankfurt-international-bank-selects-fis-to-bypass-legacy-infrastructure
[Category: BizFinancial Services]
Fisher Phillips Issues Insight: What Employers Need to Know About Employment Arbitration in Puerto Rico + 3 Steps to Take Now
ATLANTA, Georgia, July 8 -- Fisher Phillips, a law firm, issued the following insight on July 7, 2026:
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What Employers Need to Know About Employment Arbitration in Puerto Rico + 3 Steps to Take Now
Arbitration remains a valuable tool for resolving employment disputes in Puerto Rico, so long as the agreement is clearly drafted, mutually binding, and entered into voluntarily. When done right, arbitration can offer employers and employees a faster, more predictable forum without eliminating substantive workplace protections. When done poorly, it can trigger avoidable challenges over enforceability,
... Show Full Article
ATLANTA, Georgia, July 8 -- Fisher Phillips, a law firm, issued the following insight on July 7, 2026:
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What Employers Need to Know About Employment Arbitration in Puerto Rico + 3 Steps to Take Now
Arbitration remains a valuable tool for resolving employment disputes in Puerto Rico, so long as the agreement is clearly drafted, mutually binding, and entered into voluntarily. When done right, arbitration can offer employers and employees a faster, more predictable forum without eliminating substantive workplace protections. When done poorly, it can trigger avoidable challenges over enforceability,scope, and fairness. Here's what HR professionals and private employers need to know about workplace arbitration enforcement in Puerto Rico, and three steps you can take now to strengthen your agreements.
2026 Ruling on Workplace Arbitration in Puerto Rico
Puerto Rico law is generally favorable to arbitration, and when an employment agreement impacts interstate commerce, the Federal Arbitration Act (FAA) favors enforcement and preempts contrary Puerto Rico rules that would interfere with arbitration.
This framework was recently reinforced by the Supreme Court of Puerto Rico in Kendall Hope Tucker v. Money Group. The court held that discrimination claims under Act 100 - Puerto Rico's workplace anti-discrimination statute - are subject to mandatory arbitration when they fall within a valid arbitration clause contained in a private employment agreement and the contract affects interstate commerce. In other words, an employee cannot avoid arbitration of an Act 100 claim simply because the claim arises under Puerto Rico's employment discrimination statute.
That holding is significant. Before Tucker, employees frequently argued that Act 100 claims should remain in court notwithstanding an arbitration agreement. The court rejected that position in the context of private, individual employment agreements, confirming that statutory discrimination claims are arbitrable when the FAA applies and the agreement is otherwise valid.
Just as important, the court drew a limit around its ruling. It made clear that the decision applies to private individual employment agreements, not to unionized employees whose rights arise under collective bargaining agreements. That distinction matters for HR and in-house counsel because it confirms that arbitration strategy in the non-union workplace may differ materially from arbitration issues arising in the labor-management context.
3 Action Steps for Employers
For Puerto Rico employers, the practical lesson is straightforward. If you want arbitration enforced, draft for enforcement from the start. The strongest agreements plainly state which claims are covered, who is bound, which rules apply, and which rights remain intact. Here are the three key steps employers should consider taking now.
1. Ensure Agreements Are Well-Drafted. Your agreements should:
* clearly require arbitration of disputes arising out of or relating to employment, including termination;
* expressly cover statutory employment claims, such as discrimination, retaliation, wage and hour claims, and unjust dismissal claims under Act 80;
* state that the agreement is mutual and binding on both employer and employee;
* preserve all substantive rights and remedies available under applicable law;
* avoid unfair cost allocations, one-sided procedures, or limitations that could be attacked as unconscionable;
* potentially be offered in Spanish for employees who prefer to sign the agreement in Spanish;
* identify the governing arbitration rules, the forum, and the seat of arbitration; and
* assess whether the employment relationship affects interstate commerce, and if so, make clear when the FAA applies.
2. Be Clear. Employers should also ensure the arbitration clause is conspicuous, easy to understand, and consistent with the rest of the employment documentation.
3. Be Consistent. Offer letters, handbooks, bonus plans, equity agreements, and acknowledgment forms should not undermine the arbitration provision or create mixed signals about whether court litigation remains available.
Conclusion
If you have any questions about this or other labor and employment laws in Puerto Rico, please contact your Fisher Phillips attorney or the author of this insight. Make sure you are subscribed to the Fisher Phillips' Insight System to get the most up-to-date information.
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Related People
Maritza I. Gomez
Partner
954.847.4733
migomez@fisherphillips.com
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Original text here: https://www.fisherphillips.com/en/insights/insights/what-employers-need-to-know-about-employment-arbitration-in-puerto-rico
[Category: BizLaw/Legal]
Bloomberg Supports the Trial Operation of Hong Kong's New Gold Clearing System With the Introduction of HAU
NEW YORK, July 8 -- Bloomberg issued the following news on July 7, 2026:
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Bloomberg Supports the Trial Operation of Hong Kong's New Gold Clearing System with the Introduction of HAU
Hong Kong -- Bloomberg today announced measures to support the trial operation of Hong Kong's new gold central system and the over-the-counter (OTC) gold market, with the introduction of the Hong Kong Gold product. This product is available on the Bloomberg Terminal under the ticker HAU. Bloomberg has also published a dedicated HAU Reference Guide to help Terminal users understand the framework, access pricing
... Show Full Article
NEW YORK, July 8 -- Bloomberg issued the following news on July 7, 2026:
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Bloomberg Supports the Trial Operation of Hong Kong's New Gold Clearing System with the Introduction of HAU
Hong Kong -- Bloomberg today announced measures to support the trial operation of Hong Kong's new gold central system and the over-the-counter (OTC) gold market, with the introduction of the Hong Kong Gold product. This product is available on the Bloomberg Terminal under the ticker HAU. Bloomberg has also published a dedicated HAU Reference Guide to help Terminal users understand the framework, access pricinginformation, and incorporate the new ticker into existing workflows.
The Hong Kong SAR Government announced the commencement of trial operation of Hong Kong's new central clearing system for gold, together with a series of measures aimed at building a modern, full-service gold ecosystem today. The initiatives include the launch of a new price ticker HAU to support OTC gold trading and clearing in Hong Kong. Designed to complement existing global gold references, the HAU provides market participants with an important new reference rate for tracking gold activity during Asian time-zone.
Bloomberg has supported the development of the HAU pricing framework, bringing its global experience in precious metals data and analytics. The framework aggregates indicative bid and offer contributions from market participants to generate a real-time composite rate, helping users access timely pricing information for the Hong Kong gold market. This composite is calculated through Bloomberg Generic Pricing (BGN), Bloomberg's independent pricing methodology used across a range of OTC asset classes.
HAU is now embedded into Bloomberg Terminal workflows, allowing users to view and analyze HAU pricing alongside related currency data. The pricing data is also available through Bloomberg's enterprise data solutions, supporting consistent data access across institutional systems.
"The trial operation of Hong Kong's new central clearing system for gold represents a strategic initiative to strengthen the city's role as a leading international financial center and global precious metals trading hub," said Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR Government. "We welcome Bloomberg's contribution in launching the new HAU price ticker, supporting our OTC trading and clearing infrastructure, and enhancing investor confidence with more efficient market participation."
"The launch of the Hong Kong gold markets is an important milestone for the city's financial ecosystem and creates opportunities for closer connectivity with the onshore gold markets, and advances gold trading in Asia," said Bing Li, Asia-Pacific Chairman of Bloomberg. "Bloomberg is pleased to contribute its data, analytics, and workflow capabilities to the HAU pricing framework, helping market participants access timely information across global precious metals markets."
The HAU product is available on the Bloomberg Terminal via {HAU Curncy }, with cross rates including HAU/USD, HAU/HKD, and HAU/EUR. Bloomberg Terminal users can download the HAU Reference Guide through {BPS }.
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About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration.
For more information, visit Bloomberg.com/company or request a demo.
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Original text here: https://www.bloomberg.com/company/press/bloomberg-supports-the-trial-operation-of-hong-kongs-new-gold-clearing-system-with-the-introduction-of-hau/
[Category: BizMedia]
