Under a new bill adopted by the Ohio General Assembly, school boards, governmental bodies, and other third parties will be prohibited from filing complaints to increase the value of others’ Ohio real property for tax purposes, except under certain limited conditions. Am. Sub. H.B. 126 is expected to largely eliminate the practice of retroactive tax increases as a result of complaints filed based on a sale in the year currently subject to appeal. On its effective date, Am. Sub ...
April 20, 2022 By: Arielle Seidman and Anthony Martin Automated and algorithmic decision-making tools have become run-of-the-mill in everything from loan and apartment applications to employment searches and university acceptances. Such tools provide increased efficiency, accuracy, and customer satisfaction for, among many others, banks and financial institutions ...
Until recently government enforcement and regulatory scrutiny of fraud and other misconduct relating to COVID-19 relief programs were generally limited to end recipients of the relief. These efforts have mostly been directed to fraud in connection with the Paycheck Protection Program, or PPP, a nearly $1 trillion business loan program administered by the U.S ...
The late 1990s to early 2000s were a time when the internet – still in its infancy – was akin to the wild-west; new, uncharted, and rapidly growing in usage and adoption. The accompanying excitement over this new technology fuelled a stock market bubble caused by untenable speculation on dot-com companies ...
The 2022 tax assessment of real and personal property have been determined by the local Assessor and a Notice of Assessment was issued and mailed to property owners. Property owners should make sure to check the mail for a copy of the Notice in order to determine whether an appeal of their taxable value should be filed ...
On April 12, 2022, Law No. 21,440 was published in the Official Gazette, which modifies Law Decree No. 3,063 (Municipal Income Law), creating a new regime applicable to donations in favor of non-profit legal entities, which contemplates certain tax benefits. This new regime will be complementary to those contained in special regulations regarding donations ...
On February 24, 2022, the Supreme People’s Court (“SPC”) issued its Decision on Revising the Interpretations of the Supreme People’s Court on the Specific Application of Law in the Trial of Criminal Cases involving Illegal Fundraising (Fa Shi [2022] No. 5, the “New Rules”) ...
On February 24, 2022, the Supreme People’s Court (“SPC”) issued its Decision on Revising the Interpretations of the Supreme People’s Court on the Specific Application of Law in the Trial of Criminal Cases involving Illegal Fundraising (Fa Shi [2022] No. 5, the “New Rules”) ...
Kudun Sukhumananda , one of the founding partners of the firm and co-head of Corporate and M&A was invited to speak in an academic forum on “Legal Issues and Driving Innovation to Commerce” hosted by the Faculty of Law, Chulalongkorn University together with UTC, the university’s technology center ...
On April 7, 2022, Finance Minister Chrystia Freeland tabled the federal government?s new budget for 2022. This budget includes several tax measures relevant to the mining industry in Canada. The Canadian federal government intends to provide $3.8 billion over eight years to implement Canada?s first critical minerals strategy ...
In September 2021, the House of Representatives of the Philippines approved House Bill (HB) 7425 upon its third reading. HB 7425 seeks to impose a 12% value-added tax (VAT) on digital transactions in the Philippines ...
On March 31, 2022, the Chilean Financial Market Commission ("CMF") published with immediate effect, the General Rule No. 468, which regulates the authorization process for commencement of operations of local General Fund Managers or "AGF" as they are known in Chile, and the minimum background information required by the authority for granting such authorization ("NCG 468") ...
The Department for Work and Pensions (DWP) has published its combined consultation on draft Regulations designed to improve accessibility of illiquid assets for defined contribution schemes. The Department for Work and Pensions (DWP) has published its combined consultation on draft Regulations designed to improve accessibility of illiquid assets for defined contribution schemes ...
On April 2, 2022, the China Securities Regulatory Commission (the “CSRC”) published the revised Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) (the “Draft Archives Rules”). The Draft Archives Rules is now open for public consultations until April 17, 2022 ...
On April 2, 2022, the China Securities Regulatory Commission (the “CSRC”) published the revised Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) (the “Draft Archives Rules”). The Draft Archives Rules is now open for public consultations until April 17, 2022 ...
The Government of the Russian Federation has adopted Resolution No. 497 dated March 28, 2022, which es-tablishes a large-scale moratorium on bankruptcy from April 1. Meanwhile, earlier on March 9, 2022, the Fed-eral Tax Service had already decided to suspend the initiation of bankruptcy proceedings. In this newsletter, we will provide you with an analysis of the key provisions of the moratorium ...
HM Treasury has recently published the outcome of its UK Prospectus Regime Review. The Review Outcome sets out important reforms to the UK prospectus regime for the public issuance of securities and admission to trading on capital markets, outlining the policy approach the UK Government will take following last year's Prospectus Regime Review consultation. This briefing note sets out the key measures confirmed by the UK Government in the Review Outcome ...
The below is a generic list of the key licenses, permits, declarations generally needed by a foreign investor (alone or in JV) to set up and operate a data center in Vietnam. This is not meant to address any specific situation and does not constitute a legal advice ...
General information about legal enforcement Legal enforcement involves the securing and collection of monetary claims (and other claims) via the enforcement authorities. The general rules are set down in the Enforcement Act. The act sets out the conditions for securing and enforced settlement of monetary claims and governs the approach that must be taken in connection with this ...
By: Manuel Fishman March 2022 Documentary Credit World Most issuers of, and beneficiaries under, letters of credit are familiar with the impact a tenant bankruptcy has on the continued effectiveness of draws under the LC. Assuming a “direct draw” letter of credit that does not require prior notice to the applicant, the beneficiary is entitled to draw on the LC because of the independent obligation of the issuer to honor credit-complying draws ...
March 31, 2022 By: Michael Flynn In a March 28 speech, CFPB Director Rohit Chopra announced that the CFPB intends to enforce aggressively against large financial institutions that are repeat offenders, and will ask other federal regulators to take a similar approach. This will include utilizing stronger sanctions, even up to banning business practices, forcing divestiture of business lines, and working with state regulatory agencies to obtain license revocations where appropriate ...
March 31, 2022 By: Michael Flynn On March 16, 2022, the CFPB announced it will expand the scope of its enforcement activities regarding discrimination beyond the specific areas covered by ECOA, by applying the UDAAP unfair practices standard to discriminatory practices in all consumers financial segments ...
