On Nov. 30, 2020 the North American Securities Administrators Association (NASAA) announced that its membership voted to adopt a model rule to set parameters by which NASAA members could implement continuing education programs for investment adviser representatives (IARs) in their jurisdictions. Following is a summary of the provisions of the model rule ...
As organisations start to rebuild post pandemic, many will be considering the introduction or reintroduction of bonuses to their employees. However, when it comes to payment of bonus to those who have had time away from work, employers need to take care ...
Amy Leech, employment law associate and Shoosmiths’ mental health and wellbeing champion, considers the benefits of having an employee led mental health champion network within your business. As an employer, you will have lots of opportunities to look after your employees’ mental health. However, many organisations are still just paying lip service to it ...
In a fascinating court case involving perhaps the best known players in the crytocurrency sector, old legal principles were used to try to solve a new problem. The claim relates to very substantial digital currency assets that Tulip Trading Limited (TTL) claimed it owned but is currently unable to control or use. Following what it says was a hack of computers at the home office of Dr Craig Wright, its primary owner, the company allegedly lost access to more than 111,000 bitcoins ...
Introduction On 7 April 2022, the Department of Finance (DOF) issued Revenue Regulation (RR) No. 3-2022 to implement Republic Act (RA) No. 11635. RA No. 11635 provides for income tax on proprietary educational institutions and hospitals, which are non-profit organisations. RR No ...
Angolan Central Bank (Banco Nacional de Angola, “BNA”) recently published Notice 10/22 of 6 April to update the scope of application of Notice 10/20 of 3 April on the granting credit to the real sector of the economy. The new Notice establishes (i) the terms and conditions applicable to the this type of credit, (ii) the minimum requirements in terms of number and total value and (iii) the treatment in the calculation of the reserve requirements ...
The Digital Commodity Exchange Act of 2022(DCEA), introduced by Republican representatives Glenn Thompson of Pennsylvania and Tom Emmer of Minnesota, along with Democratic representatives Darren Soto of Florida and Ro Khanna of California, would create a definition for “digital commodity” and allow the Commodity Futures Trading Commission (CFTC) to oversee companies issuing or letting people trade certain tokens, while having the Securities and Exchange Commission (SEC
The Securities and Exchange Commission (SEC) announced on May 3, 2022 the near doubling of the unit responsible for protecting investors in crypto markets and from cyber-related threats by allocating 20 additional positions to that team. The rebranded Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) (CACU), which is part of the Division of Enforcement, will now number 50 full-time professionals. “The U.S ...
On 28 March 2022, the Ministry of Labour and Vocational Training (“MLVT”) issued Notification 011/22 (“Notification”) to extend the deadline for foreign employee work permit applications from 31 March 2022 to 31 May 2022. The extension is aimed to help foreign employees who are not able to renew or apply for work permit on time in light of the COVID-19 outbreak ...
To coincide with Shoosmiths’ ‘The anywhere office - friend or foe to flexible working?’ event on Wednesday 4 May, we speak with Jessica Chivers, CEO at The Talent Keeper Specialists, on the process of returning to work after a period of long leave ...
The Financial Market Commission ("CMF") published on April 13, 2022, in effect as of July 12, 2022, the General Rule No. 472 that regulates the investment advisory services in Chile, specifically the requirements and procedures for registration, cancellation and suspension in the Registry of Investment Advisors (the "Registry") and the obligations to which such advisors will be subject to, including the requirements regarding the disclosure of information (“NCG 472”) ...
Developments in light of COVID-19 Unlike previous years, there were no major legislations or government regulations on labor and employment issues in 2021 ...
Last September, the AMF published its draft Regulation respecting complaint processing and dispute resolution in the financial sector (the ?Draft Regulation?). The consultation period for it ended on December 8, 2021. The AMF is currently reviewing the many comments it received. The Draft Regulation1 aims to harmonize and improve complaint processing in the financial sector by providing for new mechanisms to ensure prompt and efficient complaint processing, among other things ...
Background The PRC Futures and Derivatives Law (the “FDL”) was adopted on 20 April 2022 and is scheduled to come into effect on 1 August 2022. This new law is another important milestone in the construction of the rule of law in China's capital market ...
Background The PRC Futures and Derivatives Law (the “FDL”) was adopted on 20 April 2022 and is scheduled to come into effect on 1 August 2022. This new law is another important milestone in the construction of the rule of law in China's capital market ...
The UK is currently dealing with rises in the cost of living and the impact of world events leading to availability issues and price increases across numerous sectors. It is not surprising that we are seeing queries from clients asking us for practical advice on what they should do if they have won a tender and have discovered that their original pricing does not stack up before signing the formal contract. There are lots of factors to consider in this situation ...
Ahead of Shoosmiths’ ‘The anywhere office - friend or foe to flexible working?’ event on Wednesday 4 May, we speak with Rachel Maguire and Hannah Hall-Turner, The Job Share Pair, to examine the job share model and its potential benefits. Rachel and Hannah put forward the case for job sharing, while sharing their tips on how to make it a success, with guidance for businesses and employees considering it as an option ...
Following the celebration of #WorldIPDay, we examine the growth of the Nigerian creative industry, identify ways to protect creativity and innovation in Nigeria, and suggestareas of improvement for the protection of IP rights in Nigeria. With the recent surge of #NFTs and other #Web3 affiliated forms of creative content, improvements to the Nigerian IP regime are imperative. Download PDFhere, or continue reading below ...
Dear valued clients, colleagues and friends, On 30 March 2022, the Employment (Amendment) Bill 2021 (“Amended Bill”) was passed in Dewan Negara (Senate). In this update, Vijayan Venugopal and Nur Najehah will outline the key changes and upcoming issues which employers should be aware considering this recent development. At the outset, before diving into the issues, it is important to first understand the present status of the Amended Bill ...
Following its initiative to encourage investment in the electric vehicles (EV) sector in 2017, the Office of the Board of Investment (“BOI”) anticipates the expansion of the domestic market for EV manufacturing in Thailand, as it encourages consumers to embrace utilizing EVs ...
Dear valued clients, colleagues and friends,We are pleased to bring you the latest legal updates for April 2022 ...
The government announced several new business immigration routes to be launched in 2022 which consolidate and reform existing routes. The aim is to provide more opportunities for businesses to attract talent from overseas as well as to provide opportunities for growing businesses and recent graduates from international universities. The new Global Business Mobility Visas comprise of five different categories: 1 ...
