Current Regulatory Regimes Bermuda was one of the first jurisdictions to introduce sector specific laws and regulations relating to the issuance of ‘digital assets’ and the provision of ’digital asset business’ services. Bermuda's regime regulates the activities of issuers and services providers rather than the technology or digital assets themselves ...
The Financial Market Commission (Comisión para el Mercado Financiero or CMF) published on its website the document "Guidelines for a Law on Financial Conglomerates in Chile" in which, among other matters, analyzes the relevance of including financial conglomerates as part of the institutions under its supervision and proposes a legal framework ...
Dinsmore partner of counsel Frank Mamat contributes columns and analysis about labor and employment topics for the Small Business Association of Michigan's newsletter and website. In this edition, Frank and Dinsmore attorney Erik Bradberry write about legislation proposed in Michigan that would change what defines an independent contractor ...
Anton Dzhuplin, Partner of ALRUD Corporate/M&A practice and Co-Head of Crisis Management, Economic sanctions and Compliance practice, was re-elected as Vice Chair for the Year In Review of the International M&A Joint Venture Committee of the American Bar Association International Law Section. Within the Committee, world leading experts specializing in M&A share best practices and update information in the international law, raising their professional expertise ...
phttps://www.huntonak.com/images/content/9/2/v2/92670/5th-circuit-carves-out-religious-exemption-to-lgbtq-discriminati ...
On August 3rd, 2023, the regulation establishing the form and conditions through which the supplier must comply with the obligation to analyze the economic solvency of the consumer (the "Regulation") was published in the Official Gazette. This obligation was recently introduced in Article 17 N of the Consumer Protection Law by virtue of Law No. 21,398 of 2021 ...
Many businesses rely upon restrictive covenants with their employees. These include noncompete agreements, nonsolicitation agreements and confidentiality agreements. These agreements are intended to ensure that the investment a business makes in its employees, its customer relationships and confidential information are adequately protected. Recently, multiple new rules have been proposed that could see many of these agreements ruled unlawful and unenforceable in the United States ...
On 15 June 2023, three groups namely the Centre for Progressive Policy (CPP), Pregnant Then Screwed (PTS) and Women in Data, published their collaborative report on the social and economic impact associated with extended paternity leave and pay. Currently in the UK, the statutory entitlement to paternity leave is capped at two weeks, with the weekly rate for paternity pay amounting to the lower of £172.48 per week or 90% of average weekly earnings ...
Following the announcement that visa fees are to be increased, the government has announced a hike in civil penalty fines for employers and landlords who employ or let properties to foreign nationals who do not have the right to work or reside in the UK. The planned increases come as part of government announcements on policy to reduce the number of people living and working in the UK without a legal immigration status ...
The Central Bank of Chile ("CBC"), on August 3, 2023, agreed to publish for public consultation the proposed amendment to Chapter III.B.4 of the Compendium of Financial Regulations ("CFR") regarding the securitization of assets, contemplating the possibility of acquiring "self-securitized" or "retained securitization" instruments by banks ...
The BVI is a leading international financial centre, and BVI companies play a significant role in the flow of capital across the global economy. As global economic conditions become more challenging, lenders are increasingly reliant on formal insolvency procedures to realise value from distressed assets. As a result, the past year has seen a marked increase in the use of statutory demands against BVI companies as a precursor to an application to appoint liquidators ...
pa href="https://www.huntonak.com/images/content/9/2/v2/92571/RECM-newsletter-summer-2023.pd"https://www.huntonak.com/images/content/9/2/v2/92571/RECM-newsletter-summer-2023 ...
On June 9, 2023, the Monetary Board of the Bangko Sentral ng Pilipinas issued Circular No. 1174, amending the implementing regulations of the mandatory agricultural, fisheries and rural development financing contemplated by the Agriculture, Fisheries and Rural Development Financing Enhancement Act (Republic Act No. 11901 or the “Agri-Agra Reform Credit Actâ€). The implementing regulations were previously set out in BSP Circular No. 1159 dated November 4, 2022 ...
As published in Corporate Compliance Insights 08/07/2023 European Whistleblower Report Provides Critical Country-by-Country Updates What’s in this report from World Service Group: The World Services Group (WSG) Employment and Labor Group collaborated with WSG network law firms in more than 20 European jurisdictions to create the European Whistleblower Report, which provides knowledge on the implementations of the EU Whistleblowing Directive in the differen
The SEC has adopted final rules requiring public companies subject to the reporting requirements of the Securities Exchange Act of 1934, to disclose material cybersecurity incidents and material information regarding their cybersecurity risk management, strategy and governance. In adopting the rules, the SEC intends to benefit investors, companies and the markets by requiring more consistent and comparable disclosures across registrants on cybersecurity incidents and risk management ...
The initial proponents of Decentralised Finance (“DeFi”) opined that DeFi, as opposed to Centralised Finance (“CeFi”), could innovate the financial system by providing easier methods of payments and other financial services. The reasoning was based on the notion that transactions without a centralised intermediary in the financial system entail a simpler economy with less regulatory burdens ...
The Policy will apply to a broader range of regulated entities and includes updates to take account of Jersey’s evolving regulatory framework. The key amendments to the Policy are as follows: private funds or other funds with a consent issued pursuant to the Control of Borrowing (Jersey) Order 1958 (“COBO”), (which could include funds not domiciled in Jersey and unregulated funds) are not caught under the Policy ...
This week, the National Labor Relations Board (“NLRB”) adopted a somewhat new standard for evaluating employer work rules when they are challenged as being “facially unlawful” under Section 8(a)(1) of the National Labor Relations Act (“NLRA”). This standard builds off the previous standard announced in Lutheran Heritage Village-Livonia ...
Dinsmore attorneys Michael Dailey, Brian Moore and Jared Phalen co-wrote an article for BankDirector.com looking into the future of non-competes in the banking industry. Read it below. Banks have traditionally used non-compete agreements to protect themselves when executives and key managers quit and go to work for a competitor with the benefit of specialized training, proprietary methods and/or trade secrets taken from the prior employer ...
phttps://www.natlawreview ...
On June 27, 2023, the Pregnant Workers Fairness Act (“PWFA”) went into effect. This new law requires covered employers to provide “reasonable accommodations” for the known limitations of a worker relating to pregnancy, childbirth, or related medical conditions, unless the accommodation would cause the employer “undue hardship ...
As part of the preventive constitutionality control, the Constitutional Court ("TC") resolved that the provisions of the Bill that systematizes Economic Crimes and Attempts against the Environment (the "Bill"), that have the character of constitutional organic law, conform to the Constitution. Thus, for the Bill to become law, it only remains for the President of the Republic to promulgate it, and then proceed with its publication in the Official Gazette ...
Through an announcement issued by the President of the Republic, Gabriel Boric, the government announced the general guidelines of the new fiscal agreement, confirming that the executive will not insist in the Senate on continuing the legislative process of the tax reform bill rejected in March of this year. The fiscal agreement is based on a series of principles aimed at promoting a modern tax system, fostering economic growth, and prioritizing public expenditure ...
Last Wednesday (July 26), the Federal Court of Appeal (FCA) handed down its highly awaited decision on the patentability of computer-implemented inventions (software patents). In Canada (Attorney General) v. Benjamin Moore & Co. (2023 CAF 168), the FCA rejected the test proposed by the Intellectual Property Institute of Canada (IPIC) in the first instance decision, Benjamin Moore & Co. c. Canada ...
On July 9, 2023, major amendments to the Canada Labour Code 1 (the ?Code?) came into force, and further amendments are set to come into force shortly. These amendments relate to Part III of the Code, which covers labour standards. They were provided for in the Budget Implementation Act, 2018, No. 2 2, which was assented to on December 13, 2018, but are only now coming into force ...
