On February 17, 2023, China Securities Regulatory Commission ("CSRC"), as approved by the State Council, released new rules for the filing-based administration of overseas securities offerings and listings by Chinese domestic companies ("New Filing Rules"). The New Filing Rules signal a new era of unified filing system for overseas offerings and listings by Chinese companies. We have summarized below five key points of the New Filing Rules for your quick reference ...
The window for low-income service providers to take advantage of funds available through the Oregon Solar+ Storage Rebate Program is closing. Each year, 25 percent of the program’s budget is allocated to low-income and moderate-income homeowners and service providers. This year, the non-income-restricted funds have already been disbursed, and only low-income and moderate-income restricted funds remain ...
1. The legislative regime In conjunction with the VASP Act, the FSC also published Guidance on the Application for Registration of a Virtual Assets Service Provider (the “VASP Registration Guidance”) (available to view here), and the Virtual Assets Service Providers Guide to the Prevention of Money Laundering, Terrorist Financing and Proliferation Financing (available to view here) ...
It's the final countdown to the new Consumer Duty. After what feels like a lifetime of consultations, responses and commentary on the FCAs new Consumer Duty, the final countdown is upon us. With just over 5 months to go before the Consumer Duty comes into force, the big question is.. ...
The number of knife offences is going down but are still higher than at the start of the pandemic. Will the new Sentencing Guidelines for sales of knives to those younger than 18 (which come into effect on 1 April 2023) reduce the number further? Certainly, that would appear to be the intention of the Guidelines which significantly increase the potential consequences for retailers who break the law ...
On February 7, 2023, the Division of Examinations of the United States Securities & Exchange Commission (“EXAMS”) published the 2023 Examination Priorities. Like previous years, the 2023 Examination Priorities provides certain data regarding the scope of the examination program and the growth of the investment adviser community ...
In some ways, the 2023 proxy season might be met with a sigh of relief as some extraneous factors impacting United States capital markets—such as the COVID-19 pandemic and ongoing Russo-Ukrainian conflict—have stabilized in terms of their increased effect. In that same vein, some changes that may have once been viewed as “trends” in disclosure are very much here to stay ...
Bradley’s Government Enforcement and Investigations Practice Group is pleased to present the False Claims Act: 2022 Year in Review, our annual review of significant False Claims Act (FCA) cases, developments and trends. In 2022, the government continued to utilize the False Claims Act as its primary tool to combat fraud. Though the government’s recoveries at $2 ...
The refinancing policies for listed companies on the Shanghai and Shenzhen Stock Exchanges will be revised as a part of the full implementation of the registration-based stock issuance system reform, in addition to the reform of the IPO-related rules ...
Blowing a whistle remains the most effective means of being heard above the crowd and drawing attention to an issue. Speaking up can help charities to do their work even better. The relevance of whistleblowing to charities A private member’s bill is wending its way through Parliament at the moment, looking to establish an Office of the Whistleblower ...
The National Pension Commission (PENCOM) recently introduced a new category of fund which complies with sharia principles of investment. The Non-Interest Fund (Fund VI) permits pension contributors and retirees to choose the preferred investment portfolio they would want their pension contributions remitted to ...
The planning system has a key role to play in both facilitating and legislating for environmental, social and governance (ESG) principles. In the final instalment of Shoosmiths’ planning video series, legal director Sam Grange and associate Eram Watson examine how the real estate industry and planning system is incorporating ESG ...
The recently published project of the National Development Plan (“PND”) 2022-2026 “Colombia World Power of Life” embodies the objectives, goals and priorities of the National Government for the next four years. In the PND, the National Government introduces rules or regulations that would make it easier to achieve the objectives pursued ...
On December 8, 2022, the Thailand Board of Investment (the “BOI”) issued 17 announcements (Announcement No. 8/2565 to No. 24/2565) aimed at developing a new economic model as part of its investment promotion strategy for the next five years (2023 – 2027) in accordance with the National Economic and Social Development Plan (Thailand 4.0). All announcements went into effect at the beginning of January 3, 2023 ...
February 13, 2023 By: Melissa Richards Superintendent of Financial Services Adrienne A. Harris announced on February 1, 2023 that the New York State Department of Financial Services has adopted a final regulation?relating to early disclosure requirements on commercial financing offers equal to or less than $2,500,000, pursuant to sections 801 to 811 of the New York Financial Services Law (the “Commercial Finance Disclosure Law” or “CFDL”) ...
CyWee Grp. Ltd. v. Google LLC, Appeal No. 20-1565 (Fed. Cir. Feb. 8, 2023) In its only precedential patent case this week, the Federal Circuit addressed last gasp efforts by CyWee to salvage its IPR losses to Google. The arguments, residual Appointments Clause arguments following Supreme Court and Federal Circuit opinions in Arthrex, Inc. v. Smith & Nephew, were rejected by the Court, which affirmed. In June 2018, Google filed petitions for IPR. The Board instituted the IPRs ...
Is Tesco exploiting Lidl’s reputation as a discount or ‘value’ supermarket? This is what Lidl are alleging in the most recent supermarket trademark dispute. The question being put before the Court is essentially whether Tesco’s ‘Clubcard Prices’ logo infringes on Lidl’s brand logo, as both appear as text in a yellow circle on a blue background ...
An analyst estimates that the market value in 2023 for digital advertising will be US$701 billion. The EU’s Digital Markets Act (DMA) is a legislative competition law 'key' to 'unlocking' the big-data relating to digital advertising held in the ‘safe’ owned by BigTech. Advertising agencies are potentially one class of beneficiary (see link for article - The Digital Markets Act - Strategy reboot for online advertising) ...
The Supreme Court has this week (8 February 2023) handed down a judgment considering whether landlords have management discretion to vary service charge percentages in residential leases. S.27A(1) of the Landlord and Tenant Act 1985 (the Act) gives the First-tier Tribunal (FtT) the ability on application to make various decisions about service charges in residential dwellings, including whether it is payable or not ...
On February 1, 2023, the China Securities Regulatory Commission ("CSRC"), the Shanghai Stock Exchange ("SSE"), the Shenzhen Stock Exchange ("SZSE"), and the Beijing Stock Exchange ("BSE") issued for public comments draft rules and regulations (the "Draft Rules") related to the registration-based stock issuance system. The Draft Rules mark the official launch of the full implementation of stock issuance reforms in China ...
February 9, 2023 By: Michael Flynn According to a Chicago federal district court, the Equal Credit Opportunity Act’s loan discrimination provisions to not extend to alleged discrimination against prospective applicants. Relying on the express language of the ECOA statute, this ruling rejected a decades-old Regulation B rule that stated that ECOA did apply to conduct toward prospective applicants ...
Overview A VASP will need: a licence (a "Part III VASP Licence"); and to be regulated by the Guernsey Financial Services Commission (the "Commission"). A Part III VASP Licence is required unless an exemption is available under the LCF Law or the "Notice with respect to the disapplication of the requirement to hold a licence under section 40 of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022" (the "LCF Notice") ...
Summary Main dispute resolution methods Court litigation Limitation periods Court structure Rights of audience Rights of audience/requirements Foreign lawyers Fees and funding Funding Insurance Court proceedings Confidentiality Pre-action conduct Main stages Starting proceedings Notice to the defendant and defence Subsequent stages Interim remedies Strike out Summary judgment Other circumstances Availability and grounds Prior not
