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Panama Seeks to Adopt a Framework Law for Public-Private Partnerships
Morgan & Morgan, September 2019

For the past few decades, Panama has established public-private partnerships (“PPPs”) in projects as diverse as toll roads, water treatment plants, ports, telecommunications networks and the generation and distribution of electricity...

Top 5 challenges with Employee Share Option Plan (ESOP) Implementation and How to Conquer Them
BoardRoom Limited, September 2019

    Employee Share Option Plans or Employee Stock Ownership Plans (ESOP) are gaining popularity in today’s market. The driving force behind this is a competition for top talent and the need to incentivise and or boost productivity among our workforce, not to mention incentivise and reward staff for staying with your company long term...

The Hong Kong Protests – Could This Happen in Singapore?
TSMP Law Corporation, September 2019

The two financial centres have long been considered twins, but where do the similarities end and the differences begin? Hong Kong, now entering its 15th week of protests, has been filled with increasingly incendiary rhetoric and escalating violence. This past weekend saw protesters lighting fires at an MTR station entrance, just outside the uber-luxe Bulgari boutique in Central...

Kochhar & Co. - Indian Company Law Update - July-August 2019
Kochhar & Co. Advocates & Legal Consultants, September 2019

MCA UPDATE – JULY 2019 What When Summary 1. Notification of Ministry of Corporate Affairs (“MCA”) with regards to filing / verification of KYC details of the directors 25.07.2019 The Ministry of Corporate Affairs (“MCA”) has notified the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019...

Indian Corporate Law and FEMA Update – June - July 2019
Kochhar & Co. Advocates & Legal Consultants, September 2019

What When Summary 1. Online reporting for filing of Annual Return on Foreign Liabilities and Assets (FLA Return) by Indian Companies 28.06...

What’s in a Name?
TSMP Law Corporation, September 2019

A rose, said Shakespeare, by any other name would smell as sweet. But while the Bard may know his flowers, he clearly was no expert on branding Apples.   Rodrigo Duterte, the Filipino president, would like to change his country’s moniker “because the Philippines is named after King Phillip”. He appears to be eager to distance his nation from its colonial past, the said monarch being a 16th century ruler of Spain...

The Chargeback of the Salvadoran Consumer Law
Consortium Legal - El Salvador, August 2019

As of August 7th, 2018, the amendments of the Consumer Protection Law (CPL), which includes for the first time, the consumer protection in the field of electronic commerce (e-commerce), taking that as the contracting process or the goods, services and commercial information trading through data communication webs...

California Supreme Court Potentially Slows Down the Expansion of the Legal Cannabis Market
Hanson Bridgett LLP, August 2019

In Union of Medical Marijuana Patients v. City of San Diego, the California Supreme Court unanimously held that the City of San Diego failed to analyze the potential environmental impacts of its medical marijuana dispensary law. While the main issue in this case was the definition of a project under the California Environmental Quality Act (CEQA), the ruling has important ramifications for the legal cannabis market as a whole...

USTR Announces List 4 Tariffs on $300B Imports from China While Continuing to Accept Exclusion Requests for List 3 Tariffs
Dinsmore & Shohl LLP, August 2019

The U.S.-China trade dispute escalated yet again as the Office of the U.S. Trade Representative (USTR) announced a fourth round of tariffs of 10 percent on an estimated $300 billion of goods imported from China not already subject to Section 301 tariffs.  At the same time, the USTR continues to accept List 3 exclusion requests and is working to complete review of List 1 and List 2 exclusion requests. 1. USTR Announces Section 301 Tariffs on $300B of U.S...

NCUA Issues New Guidance to Credit Unions Which Permits Hemp Banking
Dinsmore & Shohl LLP, August 2019

On August 19, 2019, the chairman of the National Credit Union Association issued a letter with guidance to all credit unions.  Prior to August 19, hemp businesses had difficulty locating banks or other entities that would permit them to conduct normal merchant banking activities. That issue has, in part, been addressed by this letter of guidance. Questions remain, however, regarding many merchant services and whether FinCEN will issue a similar guidance...

Bureau of Cannabis Control Publishes New Distributor Fact Sheets
Hanson Bridgett LLP, August 2019

The Bureau of Cannabis Control recently published two new fact sheets on its website as a resource for industry stakeholders, licensees, and the general public. The facts sheet help everyone better understand the different responsibilities of the cannabis distributor (Type 11) and the cannabis distributor transport only (Type 13) licensee by providing a list of required procedures and guidelines for various distribution activities...

Regulations on Accounting Records for Offshore Companies
Morgan & Morgan, August 2019

In order to comply with the international guidelines regarding corporate transparency, the government of Panama enacted Law 52 of October 27, 2016 in the Official Gazette, which establishes the obligation for Panamanian companies and other entities to maintain accounting records, financial records and supporting documentation of all transactions that took place during the last five (5) years, so that their financial status can be easily determined with reasonable accuracy...

SCA Issues Guidelines for Financial Institutions on Anti-Money Laundering
Afridi & Angell, August 2019

The past year has been a busy one for AML compliance in the UAE. In October 2018, Federal Decree-Law 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations (AML Law) came into force. It contained features recommended by the Financial Action Task Force (FATF), and brought UAE laws in line with international AML standards...

Conventional Thinking
TSMP Law Corporation, August 2019

The Singapore Convention cements the Lion City’s reputation as a dispute resolution hub, making mediation easier to enforce globally. Clients who come to see me about commercial disputes often ask for the same thing: fast resolution. I tell them that there are two tried-and-tested ways to resolve financial claims. First, you can litigate in court and have a judge make a legal ruling on the dispute, in the full gaze of the public...

5 Reasons Why Your Business Needs Accounting Services
BoardRoom Limited, August 2019

Accounting is one of the essential functions your business requires for robust financial management. However, many business owners still opt to handle their accounts in-house. This not only takes up their valuable time but also heightens the risk of compliance issues that could cost their business in the long run. 30% of Singapore start-ups fail within the first three years, and poor financial management is one of the principal causes...

Transfer of Shares in a Private Company: Misstep from the Supreme Court
ENSafrica, August 2019

  It is standard practice that for a share transfer in a private limited liability company to be effective, the transferor and transferee must execute a share transfer form, pay stamp duty on it and present it to the company for registration, together with the related share certificate, if any. The Ugandan Companies Act, 2012 prohibits the transfer of shares unless a proper instrument of transfer has been delivered to the company...

Rwanda has been Admitted as a Member of the OECD Development Centre
ENSafrica, August 2019

  On 20 May 2019, Rwanda was admitted as a member of the Organization for Economic Co-operation and Development (“OECD”) Development Centre, becoming the first East African country to join the Development Centre. Founded in 1961, the OECD Development Centre is an independent platform that enables developed economies to interact, share knowledge and have policy dialogues with developing economies...

The Advertising Regulatory Board: No One-Trick Pony
ENSafrica, August 2019

  We recently reported on a ruling of the new advertising authority in South Africa, the Advertising Regulatory Board (“ARB”). The dealt with the issue of misleading advertising. In this article, we’ll look at three more rulings that make it clear that the ARB deals with a range of important issues...

South Africa: Time to Elect IP
ENSafrica, August 2019

  South Africa recently held its general national election and the result was a win for the incumbent African National Congress (ANC) party. The election was fought against a backdrop of massive unemployment and a stagnant economy. During the course of the election, there was considerable focus on the issue of property rights and particularly, the possible expropriation of immovable property, especially farms...

Plain Packaging: An Issue That’s Not Quite Extinguished
ENSafrica, August 2019

  An article that appeared in the South AfricanDaily Mavericknews site, “Plain packaging for cigarettes is a bad idea”,suggests that the plain packaging debate is not yet over. A recap We’ve discussed plain packaging for cigarettes on a number of occasions. We’ve looked at how Australia has been at the forefront of this issue, with 2011 legislation requiring all brands of cigarettes to be sold in identical green packs featuring graphic images...

Mauritius: Trade Marks Filed “in Defiance of Commercial Morality”
ENSafrica, August 2019

  A recent decision of the Mauritian Industrial Property Tribunal (the “Tribunal”) will provide some comfort to international brand owners. The case involved an application by a foreign company to cancel a trade mark registration obtained by a local party. The facts inStrategic Foods International Company LLC v Meher Banon Gokhoolwere all too familiar...

Recent Amendments to the B-BBEE Codes
ENSafrica, August 2019

  On 31 May 2019, South Africa’s Department of Trade and Industry gazetted certain amendments to the Broad-Based Black Economic Empowerment (“B-BBEE”) Codes of Good Practice. These amendments will become effective on 31 November 2019. The following are the key amendments to take note of...

Use: Are You Sure? Can You Prove It?
ENSafrica, August 2019

  Use: it’s without question one of the biggest issues in trade mark law. It’s an issue that can come up in a number of scenarios. At least a genuine intention is needed to use a trade mark to get it registered. Considerable use may help get a trade mark registered in the face of various objections. Once registered, the trade mark needs to be used to make sure that the registration can’t be cancelled for non-use by a competitor...

The Little Master Goes to Court
ENSafrica, August 2019

  The Little Master himself, Sachin Tendulkar, is heading to court in Australia against sporting goods manufacturer Spartan. For some context: Tendulkar retired from international cricket shortly after winning the 2011 World Cup. Even in retirement, Tendulkar remains by some distance, the most revered cricketer to ever play the game and the famous Matthew Hayden quote “I have seen God. He bats at no...

The Madrid Protocol: More of a Slow-Burning Plodder than a Taut Thriller
ENSafrica, August 2019

  Back in 2013, we wrote an article about the Madrid Protocol, the treaty that regulates the international trade mark registration system. We expressed the view that it was high time that South Africa joined this ever-growing club of nations. We expressed the hope that it would happen soon. It’s now mid- 2019 and... well we’re still waiting. We’re told that accession to the Madrid Protocol is imminent. The Madrid Protocol has been in the news of late...

Porsche 911…Something a Bit Different Please!
ENSafrica, August 2019

  The Porsche 911 is undoubtedly an iconic car. Instant product recognition is, of course, something that most companies strive for. But fame and familiarity can create their own problems when it comes to issues of intellectual property. Porsche recently suffered a setback when the EU General Court upheld a decision of the European Union Intellectual Property Office to cancel certain design registrations relating to the appearance of the Porsche 911...

A Bittersweet Copyright Story
ENSafrica, August 2019

  A story that was widely reported on in the United Kingdom (“UK”) gives us an interesting insight into the world of copyright. A long time ago – some 22 years to be precise – a songwriter by the name of Richard Ashcroft assigned (transferred) the copyright in a hugely successful song calledBitter Sweet Symphonyperformed by a band called The Verve. If no bells are ringing, I suggest that you Google the song, chances are you will recognise it immediately...

Electric Sector in El Salvador
Consortium Legal - El Salvador, July 2019

At the end of the 19th century, mechanisms that transformed natural resources into energy began. The conception of electricity as a private good, which fosters economies of scale and the promotion of transmission and generation megaprojects in the sector, consciously and interestedly omit sustainable energy alternatives from a social and environmental point of view. The causes that leave aside this type of projects are based on the lack of economic profitability for investment interests...

The European, Middle Eastern and African Antitrust Review 2020: Israel Overview
Fischer Behar Chen Well Orion & Co., July 2019

Global Competition Review (GCR) published The European, Middle Eastern and African Antitrust Review 2020. The “Israel Overview” chapter was written by FBC’s Tal Eyal-Boger, Ziv Schwartz and Shani Brown. The Economic Competition Law, 5748-1988 (the Law) is the primary law dealing with antitrust issues in Israel and its objective is to prevent harm to competition or the public...

SGX: A Captivating or Just a Captive Market?
TSMP Law Corporation, July 2019

The SGX has beefed up delisting rules, making it harder for controlling shareholders to privatise listed companies. Is this a victory for minority shareholders, or yet another restriction that will make us a less attractive listing venue?   We all knew it was coming...

Ohio Department of Commerce to Conduct Public Hearing on Proposed Amendments to Medical Marijuana Rules
Dinsmore & Shohl LLP, July 2019

On July 23, 2019, the Ohio Department of Commerce will conduct a public hearing regarding proposed amendments to several Medical Marijuana Control Program rules. The Medical Marijuana Control Program allows individuals with specified medical conditions, upon the recommendation of an Ohio-licensed physician, to purchase and use medical marijuana. The rules govern the activities of medical marijuana cultivators, processors, and testing laboratories...

USPTO to Require U.S. Counsel for Foreign-Domiciled Trademark Owners Effective Aug 3. Foreign Applicants & Registrants should take steps to ensure compliance.
Dykema, July 2019

On July 2, 2019, the PTO announced it will implement a rule requiring U.S. counsel for foreign-domiciled trademark applicants and registrants. The new rule is effective August 3, 2019, and applies to all trademark owners with a foreign address. We discussed the rule in ourFebruary Alert. For any new filings after the effective date, licensed U.S. counsel must be designated...

Lawsuit Filed to Stop August 1 Effective Date of San Antonio Paid Sick Leave Ordinance
Dykema, July 2019

Effective August 1, employers with more than five employees working in the City of San Antonio must provide to all such employees paid sick leave (“PSL”) of up to 64 hours per year (for employers with more than 15 employees) or 48 hours (for employers with 15 or fewer employees) for a variety of reasons related to themselves or family members; employers with five or fewer employees are not required to comply with the PSL ordinance until August 1, 2021...

Governor Newsom Signs AB 97 to Extend Provisional Licenses and Add Enforcement and Organic Certification to California Cannabis Market
Hanson Bridgett LLP, July 2019

On July 1, Governor Newsom signed into law AB 97 with the intent to reduce the illicit cannabis market by bringing more people into the legal marketplace and to ensure that persons most harmed by cannabis criminalization be offered assistance to enter into the billion-dollar cannabis industry. Below is a summary of the most important aspects of AB 97...

California Expands Legal Definition of Beer
Dinsmore & Shohl LLP, July 2019

California Assembly Bill No. 205 was approved by Gov. Gavin Newsom on July 9, 2019. Assembly Member Tom Daly, who represents California’s 69th district of Orange County cities Santa Ana, Anaheim, and Garden Grove, introduced AB-205 to expand the definition of “beer” under Business & Professions Code §23006, which is part of the Alcohol Beverage Control Act. The new law is set to go into effect on Jan. 1, 2020...

What the Changes to CFIUS Mean for Foreign Investment
Lowenstein Sandler LLP, July 2019

CFIUS is a U.S. federal interagency committee (“Committee”). The Committee reviews and approves foreign direct investment in U.S.-based businesses. Investment is restricted if it impairs national security. Under the new Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), what the Committee considers to be “national security” has recently changed to include emerging and critical technologies and sensitive personal data...

Using Inquiry Proceedings to Resolve Corporate Disputes
Van Doorne N.V., July 2019

Under Dutch corporate law it is possible for the Enterprise Section of the Amsterdam Court of Appeal to order an inquiry into the policies and affairs of a company and to interfere with the internal organization of such legal entity in order to settle corporate disputes between shareholders, the management and supervisory boards and the works council. The present article creates an overview of these legal proceedings. 1...

El Salvador: Elements of Arbitration Clauses in International contracts
Consortium Legal - El Salvador, July 2019

Dating back to the historical conquests of Alexander the Great in the years 300 B.C., which provided an unprecedented foundation for commercial exchanges between Macedonia, Persia and Egypt, along with the Mongolian Empire’s ambitious Silk Road that ensured, since 130 B.C...

Protecting Your Brand and Trademarks in the Cannabis Space Following the 2018 Farm Bill
Dinsmore & Shohl LLP, July 2019

As seen on Law360: The 2018 Farm Bill[1] relaxed restrictions covering hemp-based cannabis products, and it is causing a shift in business strategies in the industry. Instead of a full prohibition of trademark registrations covering cannabis goods or services, a narrow range of filings is now permitted, so long as they conform to the requirements of the Farm Bill and the latest USPTO guidelines...

Dubai Development Authority - UBO Requirements
Afridi & Angell, July 2019

The Dubai Development Authority (DDA) (previously known as the Dubai Technology and Media Free Zone Authority (TECOM) and the Dubai Creative Clusters Authority (DCCA)) is the regulator of entities licensed to conduct business in Dubai Internet City, Dubai Media City, Dubai Knowledge Park, Dubai Outsource City, and other clusters regulated by the DDA...

New Economic Substance Regulations in the UAE
Afridi & Angell, July 2019

A previous inBrief dated 30 April 2019 discussed a law recently enacted in the BVI, the Economic Substance (Companies and Limited Partnerships) Act, 2018, which introduced economic substance requirements in the BVI. This article will discuss a similar measure recently promulgated in the UAE...

SEC Clarifies Federal Fiduciary Duties of Investment Advisers
Lowenstein Sandler LLP, July 2019

The Securities and Exchange Commission (the SEC) recently sought to clarify its position on federal fiduciary duties of investment advisers with an interpretation.1The interpretation emphasized how client sophistication and the scope of an advisory relationship affect the fiduciary duties owed to particular clients.Determine Scope of RelationshipAll advisers owe fiduciary duties under the Investment Advisers Act of 1940, as amended (the Advisers Act)...

Kaestner: States Cannot Tax Trusts Based Solely on Residency of Beneficiaries
Dykema, July 2019

The U.S. Supreme Court recently released its opinion inNorth Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, largely vindicating the understanding of most estate planners: A state cannot tax the income of a trust where the only connection to the state is the presence of the trust’s discretionary beneficiary. Facts inKaestner The facts inKaestner, in brief, are as follows...

Time to Take Another Bite of S-chips
TSMP Law Corporation, July 2019

Numerous corporate governance scandals over the past 15 years involving S-chips have tarred these mainland-operating, Singapore-listed companies with the same brush. But do all S-chips deserve their bad reputation?It was meant to be one of the Singapore Exchange’s (SGX) success stories. One of our biggest skincare companies, Best World International saw its profits grow almost 40 fold between 2013 and 2017. It was valued at S$1.8 billion at its peak in February 2019...

5 Accounting Services Your Business Needs In Singapore (And Why)
BoardRoom Limited, June 2019

The accounting/finance function forms the backbone of any firm, SME or MNC. However, there are so many types of accounting services to beaware of that it is worthwhile engaging an accounting professional.They are trained, organised, accurate and competent, giving you more time to focus on your business and reach greater heights. If you are looking to outsource your accounting, there are 5 essential services the firm will need to deliver...

Keeping up with the Trend: The New DIFC Insolvency Law
Afridi & Angell, June 2019

Introduction The latest in the series of insolvency regime reformations in the Middle East is the new Dubai International Financial Centre insolvency law; DIFC Law 1 of 2019 (the New Law). Subject to article 1(4) of the New Law, the New Law repeals and replaces DIFC Insolvency Law 3 of 2013 (the Old Law). Article 3 of the New Law states that it applies in the jurisdiction of the DIFC, meaning that it applies to all DIFC incorporated entities...

Legal Requirements Under The Bahamas' Digital Assets and Registered Exchange (DARE) Bill, 2019
Graham Thompson, June 2019

General The Securities Commission of The Bahamas (“SCB’), the independent regulatory body responsible for digital assets and investor protection, has issued the draft Digital Assets and Registered Exchange Bill (“DARE Bill”) for industry consultation. The DARE Bill prescribes the legal requirements for issuance and sale of digital tokens, and the regulation of issuers and those conducting digital asset business in or from The Bahamas...

"Hanley vs Tampa Bay Sports and Entertainment LLC Putting the Telephone Consumer Protection Act on Ice" by Kevin Brown in Sports Law Expert
Waller, June 2019

The sports world is under attack again for its text marketing tactics directed to consumers. This time the target is Tampa Bay Sports & Entertainment, LLC, the owner of the National Hockey League team, the Tampa Bay Lightning. In a federal class action lawsuit filed in March 2019 (Bryan Hanley vs. Tampa Bay Sports and Entertainment LLC, Case No. 8:19-CV-550-CEH-CPT (M.D...

New immigration changes in Panama: SEM, Special Regularization Process and Aviation
Morgan & Morgan, June 2019

Executive Decree No. 238 of June 10, 2019 Requirements to apply for permanent residency for executives of Multinational Headquarters offices (“SEM” for its acronym in Spanish) As of June 11th, 2019, the requirements to apply for the Permanent Resident Permit for Executives of SEM companies who i) continue working at a SEM company, and ii) no longer work for a SEM company...

Welcome to the Slovenian Legal Market
Karanovic & Partners, June 2019

This article is written byMarko Ketlerand originally published in Issue 6.4 of theCEE Legal Matters Magazine.   After a few troublesome years during the global financial crisis, it seems like Slovenia is on a positive economic route again. On December 14, 2018, S&P Global Ratings affirmed an “A+/A-1” credit rating for Slovenia with a positive outlook...

 

 

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