IACCinform January Newsletter

The Covid-19 pandemic has morphed into a global recession affecting how banks, financial services companies and corporations oversee their operations and employees
effectively. The crisis has also had a significant impact on how companies oversee staff remotely and ensure that risks are properly managed and monitored.

During “Operational Efficiency and Cost Mitigation Strategies,” an informative panel discussion hosted by Finance Montréal, we will touch upon the costs/benefits of
transferring operational and non-core functions outside the New York tri-state area and will explore relocating to Canada as a potential efficiency strategy to mitigate
cost pressures.

**Please note that this event is only open to members of the financial, insurance and banking sector.

The IACC’s fourth annual Luxury Summit, organized in partnership with the Luxury Institute, will explore the future of the luxury through the lens of post-pandemic
consumer habits. Top luxury leaders and industry experts will share their knowledge and expertise in a series of interactive panel discussions. Session topics include: How
Top-Tier Italian Brands are Surving and Thriving; the Future of Privacy and Personalization, How Young Executives See Luxury Shaping Up in 2021 and Looking Ahead: 7
Unconventional Luxury Trends for the Roaring 2020s (Bonus Session).

Over 100 food industry professionals, foodies, food/lifestyle influencers and journalists joined us on a virtual culinary tour of Italy’s Lombardy region during our
Master Class “Boot” Camp tasting session on December 2. During this Master Class, participants were led on a guided exploration of the flavors of Italy’s Lombardy region
by a panel of expert speakers including Jackie Rothong (Culinary Producer, Food Stylist, Recipe Developer and Chef/Brand Ambassador for Viking Range), Raffaele Solinas
(Exeutive Chef at Osteria Brooklyn and Executive Vice President ACINY), Francesco Lupo (Food Marketing Specialist), and IACC Executive Director Federico Tozzi.
Participants learned about PDO and PGI products from Lombardy and cooked along as our chefs transformed these authentic Italian ingredients into a traditional–and
delicious–risotto with truffle!

For event photos, click
HERE.

For a list of products showcased during the Master Class and speciality stores where they can be purchased, click
HERE

On December 14, over 100 foodies joined us for the third installment in our True Italian Taste Master Class “Boot” Camp series which transported attendees to Emilia
Romagna for an educational tour of PDO and PGI ingredients from the region. Participants were treated to a “deep dive” into the unique flavors and profiles of PDO/PGI
products from a Emilia-Romagna by specialty food educator Francesco Lupo and followed along as Chef/Brand Ambassador for Viking Range Jackie Rothong and Chef Michele
Casadei Massari, Executive Chef of Lucciola Restaurant and U.S. Brand Ambassador for the Parmigiano Reggiano Consortium, transformed these authentic Italian ingredients
into two simple yet elegant recipes
passatelli with Parmigiano-Reggiano cream and
tortellini in brodo. Many thanks to event sponsors
Parmigiano Reggiano and
Varvello Aceto and to our host, IACC member Middleby Residential, for opening their showroom to us!

For event photos, click
HERE.

For a list of products showcased during the Master Class and speciality stores where they can be purchased, click
HERE

On December 17, experts from KPMG led IACC members in a timely and informative exploration of the new remote work landscape and shed light on the myriad implications this
shift may have on businesses and their essential functions. Moderated by Simona Vasile, KPMG Partner in New York and David Alan Roberts, KPMG Senior Manager in Milan, this
program examined the much-publicized new way of doing business and how and why different industry sectors are adapting to this new norm differently. Panelists touched upon
emerging complexities due to Covid-19 and the remote/virtual working environments as well as the opportunities for Italian companies on the U.S. market that “work from
anywhere” makes possible. KPMG also shared benchmarked insights and their perspectives on the strategies, opportunities and challenges represented by the work from
anywhere environment.

On January 1, 2021, the City of Los Angeles began enforcing its commercial ban on furs and fur products (i.e., any article of clothing or fashion accessory made in whole
or in part of fur). In doing so, Los Angeles becomes the fourth California municipality to regulate such merchandise, joining San Francisco, West Hollywood, and Berkeley.
Importantly, the Los Angeles ordinance also precludes the use of inter-city distribution centers for furs/fur products. While exemptions to the LA ordinance exist for furs
derived from certain domesticated species, these are extremely limited in scope. It is recommended that parties/entities consult legal counsel to ensure compliance. For
more information, click on the link below to read IACC member GDLSK’s update on the prohibition.

On December 21, 2020, Congress passed a $900 billion Covid-19 aid bill that included $284 billion for the renewal and expansion of the Paycheck Protection Program (PPP)
enacted earlier this year. IACC member Pryor Cashman shares highlights of the new PPP loan provisions in a special bulletin for IACC members. To read the bulletin in its
entirety, please click below.

The U.S. Small Business Administration recently announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic
disaster declaration has been extended to Dec. 31, 2021. The deadline extension comes as a result of the recent bipartisan COVID-19 relief bill passed by Congress and
enacted by President Trump on Dec. 27, 2020. To date, the SBA has approved $197 billion in low-interest loans which provides working capital funds to small businesses,
non-profits and agricultural businesses make it through this challenging time.

The IACC is pleased to announce the launch of a new Italian citizenship service in collaboration with IACC member Lorenzo Agnoloni of Studio Legale Agnoloni
International Law Firm. Through this exciting new service, the IACC is able to provide its members and larger community with access to expert knowledge and
guidance on the process for obtaining Italian citizenship. Dual citizenship has myrid benefits and enables individuals to live and study abroad easily and to gain
visa-free entry to a number of countries worldwide. To learn more about this valuable new service for qualified IACC members, please
contact our offices today.

Piazza Italia Market, the IACC’s highly-anticipated online marketplace, is slated to go live in early 2021. Piazza Italia Market is a virtual showroom which is
individually customized to promote your company’s products and services through B2B and B2C opportunities. This innovative solution provides a modern platform where
companies seeking products and services can find business partners offering exactly what they are looking for.

Through the use of digital tools with a high degree of customization, Piazza Italia Market users will be able to guarantee quality of service and continuity of operations
as well as attract buyers and meet their expectations with advanced technology and the ability to quickly resolve issues. To learn more about Piazza Italia Market’s
benefits, packages and pricing, please
contact our offices today.

Cortina67 imports organic yeasts for winemaking, brewing, cider and leavenings as well as water purification devices and other products for the winery and hospitality
industries.

Ranked among the top 100 law firms in the country, Cozen O’Connor has more than 750 attorneys in 29 cities across two continents. We are a full-service firm with
nationally recognized practices in litigation, business law, and government relations, and our attorneys have experience operating in all sectors of the economy. Our
diverse client list includes global Fortune 500 companies, middle-market firms poised for growth, ambitious startups, and high-profile individuals.

Honig Conte Porrino Insurance Agency Inc. is a full service insurance brokerage providing Business Insurance coverage and Personal Insurance policies to the Greater New
York City Area. Managing Partners, F. Michael Conte and Michael Honig are passionate business owners and longtime friends that operate the 3rd generation family-business,
with over 50 years of combined insurance knowledge and experience.

High up in the mountains of Sicily lies Mount Etna, the largest active volcano in Europe. Known to the Sicilian people by its nickname, Mongibello, Mount Etna boasts a
unique microclimate and fertile, volcanic soil which have created an ideal growing environment for blood oranges to flourish. 100% natural Mongibello juices are obtained
from three different blood orange varieties–Tarocco, Moro and Sanguinello–all native to Sicily, but now available online and at a gourmet grocery store near you!