log in
Submit an Article | Back

Member Articles

Selected Filters:
Practice Industry: Crossborder Trade & Investment, Financial Services, Government & Public Sector

Sort By Title  |  Sort By Date

Limitation of Liability for Wreck Removal Expenses
Simonsen Vogt Wiig AS, November 2021

The Norwegian government, as owners of the frigate, has held the owners of the tanker liable for the collision and presented a claim of some NOK 13 billion for the loss of the frigate and an additional NOK 770 million for costs related to removing the wreck. Liability is disputed and is due to be adjudged next year. Simonsen Vogt Wiig acts for the owners of the Sola TS...

California Department of Justice Announces Housing Strike Force
Hanson Bridgett LLP, November 2021

Key Points The California Department of Justice (DOJ) is preparing for increased enforcement of state housing laws, primarily focusing on local governments. The Housing Strike Force announcement is part of an ongoing trend of the state increasing enforcement of state housing laws...

Landmark FDA Proposal Seeks to Open Hearing Aid Manufacturing Market and Provide Millions with Access to Care
Dinsmore & Shohl LLP, November 2021

On Oct. 19, 2021, the U.S. Food and Drug Administration (FDA) issued a proposed rule that would establish a new category of over-the-counter (OTC) hearing aids. The rule came in response to President Joe Biden’s July 9 executive order, which among other things, calls for wide availability of low-cost hearing aids in order to promote economic competition...

Minimal! - Court of Appeal Reduces the Post-Employment Duty of Loyalty
Lavery Lawyers, November 2021

Suppose that your best employee, the up-and-comer you?ve been training for several years, resigns. It?s terrible news for you, especially amid a labour shortage. And, to top it off, their new employer is your main competitor...

Kudun and Partners represents Hatton Equity on its acquisition of shares in DRJL Group Ltd for the total value of THB 2.38 billion
Kudun and Partners, November 2021

Kudun and Partners represented Hatton Equity as lead counsel with respect to the proposed acquisition of shares in DRJL Group Ltd., a renowned cosmetic brand engaging in manufacturing and distribution business with the brand name, Dr. Jill from the sellers for a total value of THB 2.38 billion (approximately USD 72.88 million). The proposed transaction involves the merger acquisition transaction and also project financing from the offshore lender...

Migrating a Company Into Guernsey
Carey Olsen, November 2021

The Process Migration is the process which allows an overseas company to be registered as a Guernsey company in accordance with the provisions of The Companies (Guernsey) Law, 2008 (as amended) (the "Law")...

Guernsey Companies: UK Tax Residence Considerations
Carey Olsen, November 2021

Whether CMC of a Guernsey company is exercised in the UK is question of fact. This briefing summarises UK tax residence points arising out of UK tax case law, focussing in particular on the most recent case of Development Securities (No. 9) Ltd and other v HMRC2, and also provides some practical guidance on how Guernsey companies can minimise UK CMC risks when there is no intention to make the company UK tax resident...

The winner takes it all: priorities between directors, companies and third parties when directors breach their duties
Carey Olsen, November 2021

What happened? Two directors of VTL, a Jersey company, devised a fraudulent scheme. They purported to provide investors with a mechanism to decrease income tax exposure. As it turned out, the scheme was a fraud on the customers. It was also a fraud on VTL: instead of turning over around £4.55 million in proceeds from the scheme to VTL, the directors kept these funds for themselves...

A wave of FirstGen – assisting the creators of new wealth
Carey Olsen, November 2021

These newly-minted individuals and families are the recipients of a large portion of the huge wealth generated globally in the past 12 to 18 months, and require special attention from advisors and fiduciary service providers not only to manage and protect their newfound fortune but to deal with the inevitable pressures associated with it. The FirstGen – who are they? Broadly speaking, the FirstGen are original wealth creators who are predominantly from a younger age bracket...

Cambodia: New Prakas on the Establishment and Management of Mandatory and Voluntary Taskforces for Fire Prevention and Firefighting
DFDL, November 2021

The Ministry of Interior issued a new Prakas No. 2644 PK dated 19 October 2021 on the Establishment and Management of Mandatory and Voluntary Taskforces for Fire Prevention and Firefighting (“Prakas 2644”)...

Commission for the Financial Market publishes regulation on ESG content in annual reports
Carey, November 2021

On November 12, 2021, the Commission for the Financial Market ("CMF") published General Rule 461 which modifies the structure and content of the annual report of issuers of securities registered at the CMF Securities Registry on Environmental, Social and Governance or ESG matters (the "NCG")...

Defined Contribution Value for Money: Regulators Unite
Shoosmiths LLP, November 2021

Defined contribution (DC) pension schemes will soon be required to disclose more information than ever before in a bid to assess and improve value for their members. On 16 September 2021, The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) published a joint discussion paper on developing a common regulatory framework for measuring value for money (VFM) for DC members. Background VFM has become a key element of DC governance in recent years...

Five tricky issues when calculating holiday pay
Shoosmiths LLP, November 2021

Calculating holiday pay can be a difficult and complicated area of employment law to navigate. There have been a number of notable cases handed down over the last five years, and it’s fair to say that further clarity is still needed for employers. In this article, we discuss five different areas that employers often have to grapple with when tackling holiday pay issues. 1...

Additional Law Enforcement Reform Amendments, Expansions, and Changes Signed Into Law by Governor
Hanson Bridgett LLP, November 2021

On September 30, 2021, Governor Gavin Newsome approved and signed AB 26, AB 48, AB 89, AB 481, AB 490, and AB 958, which amend existing laws, add entire new chapters, and expand laws impacting law enforcement agencies, their operations, and the review of conduct of peace officers...

What to Know About PPP Appeals and Next Steps (updated 11/15/2021)
Schwabe, Williamson & Wyatt, November 2021

Update: On September 16, 2021, the Final Rule on Borrower Appeals of Final SBA Loan Review Decisions was posted and became effective on September 14, 2021 (the “Final Rule”). The Final Rule applies to all appealable final SBA loan review decisions under the PPP and applies to all appeals filed after the effective date and to those appeals filed before the effective date for which a notice and order has not been made...

Latest Federal Court Cases, 11/15/21
Schwabe, Williamson & Wyatt, November 2021

Apple Inc. v. Qualcomm Inc., Appeal Nos. 2020-1683, -1763, -1764, 1827 (Fed. Cir. Nov. 10, 2021) Our Case of the Week reinforces a developing body of law concerning standing to appeal from an adverse PTAB decision in an IPR.  This is the second such decision arising from a global settlement between Apple and Qualcomm this year.   We wrote about the first case, in April this year, here...

OP-ED: Making (Some) Sense of Evolving Vaccine Mandates for Employers
Schwabe, Williamson & Wyatt, November 2021

For the unaided construction contractor, navigation of changing vaccine mandates can be daunting, and it is no wonder there continues to be confusion about these mandates’ effects. Members of the construction industry have been discussing these rules in terms of how they apply to contractors working on federal or state projects...

Philippines: Guidelines on the Submission of Monthly Reports of Private Employment Agency and Renewal of PEA Licenses in Light of the Pandemic
DFDL, November 2021

Pursuant to the Department of Labor and Employment (“DOLE”) Department Order Nos. 216 and 217, Series of 2020 (collectively, “Department Orders No. 216 and 217”), Private Employment Agencies (“PEAs”) are required to submit a hard copy of the monthly recruitment and placement reports to the appropriate Regional Office of the DOLE within seven (7) days after each reference month...

Philippines: Guidelines on the Submission of Reports on Crimes and/or Losses by Banks and Non-Banks with Quasi-Banking Functions (NBQB)
DFDL, November 2021

On 12 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Memorandum No. M-2021-72, to provide guidelines on the submission of the reports on crimes and/or losses (“RCL”). The following are the submission procedures under the Memorandum: Banks and NBQBs shall follow the existing manner of reporting a crime and/or loss incident, i.e...

Philippines: BSP Reminds All BSP-Supervised Financial Institutions of the Analysis of Suspicious Transaction Reports with Possible Links to Tax Crimes and Real Estate Sector
DFDL, November 2021

On 15 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Circular Letter No...

Philippines: BSP Guidelines on Digitization of Customer Records
DFDL, November 2021

Circular Letter No. CL-2021-080, issued on 18 October 2021 by the Bangko Sentral ng Pilipinas (“BSP”), disseminates to all BSP-Supervised Financial Institutions (“BSFI”) the Anti-Money Laundering Council’s (“AMLC”) Guidelines on Digitization of Customer Records (“DIGICUR”) adopted via the AMLC Regulatory Issuance (“ARI”) A, B, and C, No. 2, Series of 2018...

Philippines: Clarification on the Definition of Digital Bank
DFDL, November 2021

The Bangko Sentral ng Pilipinas (“BSP”) in Memorandum No. M-2021-053 dated 13 October 2021 clarified the definition of “digital banks”. A digital bank refers to a bank which offers financial products and services that are processed end-to-end through a digital platform and/or electronic channels with no physical branch/sub-branch or branch-lite unit offering the same...

Value for Members: New Regulations for Occupational Defined Contribution Schemes
Shoosmiths LLP, November 2021

New regulations are in force that require occupational pension schemes providing defined contribution (DC) benefits to demonstrate value for members or face consolidation. The New Regulations The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021 (the new regulations) came into force on 1 October 2021...

In review: the draft Commercial Rent (Coronavirus) Bill – rent arrears arbitration process revealed
Shoosmiths LLP, November 2021

In this update, we consider the draft Commercial Rent (Coronavirus) Bill published yesterday and in particular the proposed binding arbitration scheme for resolution of rent arrears under business tenancies. As discussed in our update yesterday, the Government has now published draft legislation which is intended to resolve payment of the estimated £7.5bn rent arrears still due across the real estate sector...

The Dishonour of a Cheque for Insufficient Funds Will No Longer Be a Crime in the UAE after 2 January 2022
Afridi & Angell, November 2021

Drawing a cheque which is dishonoured due to insufficient funds will not be a criminal offence after 2 January 2022, when Federal Decree No. 14/2020 (the Decree) comes into effect. Here is a quick primer on the changes that the Decree will introduce.   The highlight of the Decree is the decriminalisation of the act of drawing a cheque which is dishonoured due to insufficient funds...

 

 

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

HOME | SITE MAP | GLANCE | PRIVACY POLICY | DISCLAIMER |  © World Services Group, 2021