The EU Data Act will apply from 12 September 2025. Thus far, much of the attention has focused on the IoT side of the regulation, specifically on data holder obligations and data sharing. Discussion around Chapter VI of the Act concerning switching between data processing services (such as IaaS, PaaS, and SaaS) and its implications for such services has been relatively sparse ...
A critical new bill is now making its way through Parliament, with potential far-reaching implications for the general public and the real estate sector if passed. The bill, often referred to as Martyn’s Law, was named in honour of Martyn Hett, who was killed in the Manchester Arena attack in 2017, and whose mother has been a steadfast advocate for its enactment ...
By the end of this year, the Home Office is transitioning to an entirely digital UK immigration system. This means that all physical immigration status documents will be replaced with digital immigration status, referred to as eVisas, and this includes any BRP’s, BRC’s or passport vignettes. The eVisa will be the only way to prove your immigration status once this transition is complete. The Home Office aim to complete the transition by 31 December 2024 ...
This is a meaningful Budget for the affordable housing sector, with positive signs that housing, particularly affordable housing, is being prioritised by the government. This reflects a recognition of how crucial community building is for social cohesion and the economy. As highlighted in the Radix Big Tent Housing Commission’s recommendations last week, a prompt rent settlement is essential for the affordable housing sector and for Registered Providers ...
By: Melissa Groisman, Esq. As of October 1, 2024, Florida has implemented stricter flood disclosure requirements for residential real estate transactions. This means that sellers are now required to disclose a property’s flood risk to potential buyers prior to executing a purchase and sale agreement. What Does This Mean for Sellers and Buyers? Sellers: To comply with the new law, sellers must disclose any previous flood damage claims and federal assistance received due to flooding ...
Here's a refresher: Discriminating against a subclass of a sex — e.g., older women or black women — may still be discrimination. In a Sept. 19 opinion in McCreight v. AuburnBank, the U.S. Court of Appeals for the Eleventh Circuit clarified a few things for the summary judgment standard and provided a good refresher on "sex-plus" discrimination, or discrimination based on a subclass of sex ...
Hark! A recent Alabama Supreme Court indemnity decision, Mobile Infirmary Association v. Quest Diagnostics Clinical Laboratories, may require you to retrieve your drafting pen. Although not a case involving a construction dispute, Mobile Infirmary does address a key component of risk shifting in construction contracts — the indemnity clause ...
On October 21, 2024, the Division of Examinations of the United States Securities and Exchange Commission (the “Division”) published the Fiscal Year 2025 Examination Priorities. In addition to investment advisers, the Division has examination responsibility for broker-dealers, investment companies, self-regulatory organizations, clearing agencies and other market participants such as municipal advisors ...
This article is part of our EU AI Act series which explores the effect of the AI Act across various industries and sectors. Investment legislation can be split into two broad categories: investment funds and investment services. The former principally relates to UCITS, AIFMD and local laws which regulate asset management and their service providers. The latter relates to regulating financial instruments and the investment markets thereof ...
British Virgin Islands comparison of open-ended funds In short, open-ended funds give investors the right to redeem their fund interests on demand, subject to the terms of the fund documents and certain lock-up periods. These funds need to be regulated in the BVI by the BVI Financial Services Commission (the “FSC”) ...
If you find yourself at risk of personal liability as a director in respect of a company's affairs then it is vital that you seek urgent legal advice to mitigate your loss. As a general rule, any claims for wrongdoings committed by the company should be brought against the company as it is recognised as a distinct legal entity and is therefore separate from its shareholders and directors. However, this protection is not absolute ...
On 8 October 2024, the U.K. Investment Association (IA) published its Principles of Remuneration (the Principles) for the 2025 Annual General Meeting (AGM) season, setting out the IA’s expectations on executive remuneration structures. The Principles are predominantly for companies with a main market listing but are also relevant to companies listed on other markets, such as AIM, or private companies (Companies). The Principles build on the remuneration expectations set out in the U.K ...
Deal round-up: Schemes of Arrangement in Guernsey This surge in takeovers reflects a general market trend for companies listed on the London Stock Exchange (“LSE”) over this same period and it is no surprise that Guernsey companies have been affected, given that Guernsey is the second most common jurisdiction for companies listed on the LSE, second only to the UK itself. The takeovers have been a mixture of public-to-private deals and consolidations by way of a share exchange ...
Carey Olsen Jersey advises RoundShield on its largest fund in history, RS Fund V Carey Olsen worked alongside lead counsel Sidley Austin LLP in advising RoundShield, a London-based private investment firm with deep expertise in asset-backed private credit. In a testament to RoundShield's solid track record and experience, a significant majority (over 80%) of the investors in Fund V are existing clients of RoundShield and its latest fund also attracted ten new investors ...
A guide to non-charitable Purpose Trusts in Jersey Creation and validity A Purpose Trust is created when assets are vested in the trustees for specific purposes ...
Climate change is affecting the world, and its impact is notably most seen in the rise in sea levels and flooding from major weather systems, as evident in the recent events in Florida in the US. These changes directly threaten oceanfront communities and the local real estate market. Oceanfront properties, once considered prime real estate, are now facing significant devaluation globally due to the encroaching threat of rising waters ...
From 26 October 2024, employers will be required to take reasonable steps to prevent sexual harassment in the workplace. Employers must ensure they understand the parameters of this new duty and have implemented the measures needed to comply with it. What the Act says The Act requires employers to take reasonable steps to prevent sexual harassment of their workers in the course of their employment ...
The recent takeover of Capital & Regional by NewRiver REIT marks the latest example of consolidation in the UK REIT market, following other notable deals such as the LondonMetric takeover of LXi, as well as the merger between Tritax Big Box and UKCM. This wave of corporate activity has been driven by several factors. One trend is the shift towards specialisation, with REITs increasingly differentiating themselves to investors by focusing on specific sectors ...
Bermuda Monetary Authority initiates consultation on proposed changes to Bermuda’s digital asset business regime The Bermuda Monetary Authority (the “BMA”) has issued a consultation paper outlining proposed amendments to the Digital Asset Business Act 2018 (the “Act”) and the Digital Asset Business (Prudential Standards) (Annual Return) Rules 2018 (the “Rules”) inviting the digital asset business sector and other stakeholders to share their views on t
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. each periodically publish a report that describes their views on the current risk areas threatening the banking industry. The OCC calls its report the “Semiannual Risk Perspective,” while the FDIC’s report is called the “Risk Review.” These reports telegraph the risks regulators will be particularly interested in during the next examination cycle ...
Carey Olsen advises Gate.io on launch of cryptocurrency venture capital fund The Fund is a venture capital fund which initially closed with investments in the digital assets and web 3.0 space across 28 portfolio companies and projects, encompassing opportunities from seed to pre-IPO rounds. The aim of the Fund is to invest in the equity and tokens of unlisted start-up companies and protocols operating within the digital assets web 3 ...
Guidance published this month by the UK Government is designed to support firms in the UK financial sector to share customer information more easily in the pursuit of the prevention and detection of economic crime. Key facts: The UK Government has issued guidance for anti-money laundering regulated firms on the voluntary information sharing measures contained in the Economic Crime and Corporate Transparency Act 2023 (the “Act”) ...
The National Financial Regulatory Administration ("NFRA") issued theAdministrative Measures for Syndicated Loan Business("Administrative Measures") on 12 October 2024, which will take effect from 1 November 2024 and shall amend and replace theGuidelines on Syndicated Loan Businessissued by the China Banking Regulatory Commission on 1 August 2011 (the “Business Guidelines”). NFRA released a draft of the Administrative Measures for public consultation on 22 March 2024 ...
Stress and burnout at work is becoming an increasingly spoken about topic, particularly in high pressure roles and sectors such as cyber security professionals within the tech sector. How can employers help to prevent their employees from experiencing it? What is stress and burnout? There is no doubt that employee stress levels have risen as the demands of the workplace have increased ...
Carey Olsen and IQ-EQ support Deep Blue on the launch of Jersey's first stablecoin DBUSD is a U.S. dollar denominated stablecoin, collateralised by low-risk assets and supported by an extensive ecosystem of key partners across tokeniser, blockchain foundations, distribution channels, oracle and technology providers, including Archax, the UK Financial Conduct Authority’s regulated digital assets firm. DBUSD's use cases include cross-border payments, remittances, trading and collateral ...
