The Federal Trade Commission (FTC) has made several recent announcements signaling its intention to increase antitrust merger enforcement under the leadership of Chairperson Lina Kahn, appointed by President Biden. Some relate to the Hart-Scott-Rodino (HSR) pre-merger notification requirements, which apply regardless of whether a transaction is substantively reviewed by the FTC or the Department of Justice (DOJ) ...
In February 2012, the FATF published the revised FATF Recommendations (also known as the Standards). The Standards continue to develop to detect and prevent new money laundering and terrorist-financing techniques impacting the international financial system, such as misuse of virtual assets and COVID-19 related threats ...
With COP26 now upon us, all eyes are on Glasgow! As we continue to explore the various routes to net zero, there is no doubt that the Scottish Government's recently published "Heat in Buildings Strategy" will have a key play to role to play. Never in recent history has there been so much focus on how we use space that was once the reserve of our personal and family lives for working…but also on how our homes work for us ...
Article by Anne Coulon, Regional Legal Adviser, DFDL Thailand A stable, autonomous judiciary naturally commands the trust of a nation’s citizenry while inspiring confidence and peace-of-mind among foreign actors: this is crucial in terms of their investments and commercial activities, that they will receive fair and equal treatment whenever certain dealings come into dispute when doing business in the host country ...
On 13 October 2021, the China Securities Regulatory Commission (CSRC) issued an Announcement on the Participation of Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors in Financial Derivatives Transactions (Announcement, available here in Chinese) ...
On 30 September 2021, the Government passed into law the Securities and Futures (Amendment) Ordinance 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Ordinance 2021 (the Ordinances). These new laws will enable foreign investment funds to be re-domiciled and registered in Hong Kong as open-ended fund companies (OFCs) or limited partnership funds (LPFs). The Ordinances will come into effect on 1 November 2021 ...
Further guidance for insurers and policyholders on business interruption claims is now available following an award made by Lord Mance in Certain Policyholders v China Taiping Insurance (UK) Co Ltd. Whilst the arbitration award will not be binding on the courts, it will no doubt prove persuasive and represents a victory for insurers, with Lord Mance finding no coverage under the denial of access cause in question ...
Overview On 15 October 2021, the New Law on Investment (“New Investment Law”) was promulgated, which aims to provide a comprehensive, transparent and predictable legal framework to attract both domestic and foreign investment. The New Investment Law replaces the existing 1994 Law on Investment and the 2003 Law on the Amendment to the Law on Investment (“Former Investment Law”) from its promulgation date (15 October 2021) ...
Republic Act (“RA”) No. 11590 amends the National Internal Revenue Code (“NIRC” or the “Tax Code”) to provide the taxing rules for offshore gaming operations. Taxation of Offshore Gaming Licensees Under RA No ...
Representation and warranty insurance (RWI) has boomed in popularity in the highly-regulated world of healthcare provider deals, and many dealmakers assume it will continue to be available as we ride the current wave of deals seeking to close by year-end 2021. That assumption may be wrong ...
Cambodia’s long-awaited Competition Law (“Law”) was signed into law by the King on 5 October 2021. While the Law has been enacted, the principal regulator, the Cambodia Competition Commission (“CCC”) has not yet been appointed and it is not clear how the Law will be enforced prior to a) such appointment and b) the issue of required regulatory instruments and decisions ...
In the Matter of the X Trusts [2021] SC (Bda) 72 Civ (7 September 2021) Assistant Justice Dr Ian R.C. Kawaley of the Supreme Court of Bermuda has handed down significant guidance to assist in the understanding of this important relationship in offshore trusts ...
Companies that have imports from China subject to List 3 and List 4a Section 301 tariffs may still have an opportunity to protect their right to seek a refund from the U.S. Government. To do so, a company would need to file a lawsuit in the Court of International Trade (CIT) challenging the List 3 and/or List 4a tariffs as unauthorized under the Trade Act of 1974 and implemented in violation of the Administrative Procedure Act ...
On September 17, 2021, the Stock Exchange of Hong Kong Limited (“HKEX”) published a consultation paper (the “Consultation Paper”) to publicly seek market opinions on draft amendments to the Rules Governing the Listing of Securities on the Exchange (the “Listing Rules”). The amendments aim to promote and implement a listing regime for special purpose acquisition companies (“SPACs”) in Hong Kong ...
October 2021 Ordinances n°2021-1192 and 2021-1193 of September 15, 2021, respectively reforming security law and amending Book VI of the French Commercial Code, implement mandates of the PACTE Law of May 22, 2019[1] to: modernize security law[2], improve the articulation of security law with collective proceedings law[3] and transpose the (EU) Directive 2019/1023 of June 20, 2019[4], known as the "Restructuring and Insolvency Directive"[5] ...
On September 8, 2021, Mr. Éric Girard, Minister of Finance, presented his Draft Regulation specifying the classes of liability insurance contracts that may derogate from public policy rules previously applicable to liability insurance (the? Draft Regulation ?), Namely those set out in articles 2500 and 2503 of the Civil Code of Quebec (? CCQ? ) concerning the insurer? s duty to defend and the exclusive application of insurance coverage to injured third parties ...
[!<CDATA[ The unprecedented speed of the collapse of the former Afghan central government is a humanitarian tragedy. The magnitude of which is rightfully distracting from the immediate near-term and long-term legal issues that those who supported the coalition efforts in Afghanistan are compelled to address as the immediate human concerns fade from the spotlight. In particular, U.S ...
Background On 10 September 2021, the Hong Kong Monetary Authority (HKMA) and People’s Bank of China (PBoC)released their respective implementation rules in connection with the cross-boundary Wealth Management Connect (WMC) pilot scheme in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) ...
A new report by Shoosmiths, in partnership with Beauhurst, shows that the number of venture capital ‘megadeals’ in the UK has increased tenfold over the last decade. In 2011 a modest five ‘megadeals’ (where £50 million or more is invested into a company) occurred, compared with an astounding 51 megadeals in the first half of 2021 ...
