In recent years, there has been an increasing trend for different creditors to issue multiple petitions against the same debtor company. This may be due to the large number of listed companies in Hong Kong encountering financial difficulties during this period of economic downturn, or simply a lack of knowledge of the law in this area ...
Financial ServicesRecovery Planning Policy DocumentFollowing feedback on its exposure draft, Bank Negara Malaysia has issued a revised policy document on recovery planning which are applicable to banks and investments banks licensed under the Financial Services Act 2013, Islamic banks licensed under the Islamic Financial Services Act 2013 and financial holding companies of the foregoing mentioned licensed entities (collectively, the “FIs”) ...
The SRA recently published its Technology and Innovation in Legal Services report. One key feature was improving user trust in legal technology. It's much more important that you'd think. ‘Hello! And thank you for reading this far. Unfortunately, all of our authors are busy at the moment. Your custom is very important to us. Please wait as we transfer you to the next paragraph. Thank you. As clearly as possible, please tell us why you are reading this article. Sorry ...
With SEC Form 10-Qs for the second quarter ended June 30, 2021, due shortly, and SEC Form 10‑Ks for companies with June 30 year ends due in the next few weeks, publicly traded companies that received PPP loans, even those that have had those loans forgiven, need to review and update their SEC disclosures regarding their PPP loan ...
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There are two questionnaire forms on the Treasury: Form 3509 for for-profit borrowers and Form 3510 for non-profit borrowers ...
On August 1, several resolutions issued by OSIPTEL’s Board of Directors were published in the Official Gazette “El Peruano”, referring to the following topics: (i) the tariff and interconnection regime applicable to calls terminated on mobile networks; (ii) the quality standards applicable to the provision of internet services; and, (iii) the implementation of an automated measurement system for the verification of internet access service by OSIPTEL ...
On August 1, several resolutions issued by OSIPTEL’s Board of Directors were published in the Official Gazette “El Peruano”, referring to the following topics: (i) the tariff and interconnection regime applicable to calls terminated on mobile networks; (ii) the quality standards applicable to the provision of internet services; and, (iii) the implementation of an automated measurement system for the verification of internet access service by OSIPTEL ...
Sharing of content through online platforms – considering digital piracy in Nigeria By Davidson Oturu, Frances Obiago and Oluwatobi Oluwasanya Introduction Like many industries around the world, the creative industry has undergone evolution; from the use of three dimensional (3D) printers to compact discs (CDs) to Digital Versatile Discs (DVDs), and since the late 90s, the internet ...
The Regulation of Courier and Logistic Companies in Nigeria. By Florence Bola-Balogun, Kelechi Mba & Oluwapelumi C. Omoniyi. Introduction The Minister of Communications and the Digital Economy, Dr Isa Ali Ibrahim Pantami (the “Minister”) in accordance with Section 62 of the Nigerian Postal Services Act, 2004 (“NIPOST Act”) approved the new guidelines for the regulation of the Courier and Logistics sector (“the Sector”) in Nigeria in July 2020[1] ...
Like many industries around the world, the creative industry has undergone evolution; from the use of three dimensional (3D) printers to compact discs (CDs) to Digital Versatile Discs (DVDs), and since the late 90s, the internet. The impact of digital technology on the Nigerian copyright space cannot be over-emphasised ...
The TCPA and other related regulations over telemarketing and “robocalling” continue to evolve at a quick pace, creating uncertainty and posing challenges for any business that contacts consumers through calling or texting. This past month has seen more important developments in the wake of the Supreme Court opinion in Facebook v. Duguid, which gave us a narrow interpretation of the statutory ATDS definition ...
The ESG Disclosure Rules have been introduced in response to the increased investor appetite for socially and environmentally responsible investments and to ensure that Jersey maintains its high regulatory standards amid global concerns regarding ‘greenwashing’ (firms marketing investments which appear more environmentally and socially focussed than they are in reality) ...
The data protection landscape has seen significant change and more is expected. What does that mean for charities specifically? On our 8 July, 2021 webinar Shoosmiths’ Partner, Sarah Tedstone, identified areas with significant change already and where action will be needed in the next few weeks and months to stay compliant ...
The following is a list of best practices applicable to the share class review process. This guide aims to provide helpful tips regarding the process of replacing an advisory client’s existing mutual fund share class with a lower-cost alternative, where it is identified that a replacement option exists and may be available for placement in the client’s account at the custodian. Review of share classes on a periodic basis ...
Introduction The ‘golden thread’ of modified universalism in cross border insolvency has long been an aspiration, rather than a rule. [1] The common law concepts of recognition and assistance play a key role in achieving that aspiration. In recent years these concepts have been affirmed but scaled back, by decisions such as that in Singularis Holdings Limited v PricewaterhouseCoopers ...
What is to come: new ESG reporting requirements Norway introduced legislation presenting social reporting requirements already in 2013 through the introduction of section 3-3 of the Norwegian Accounting Act in anticipation of the Non-Financial Reporting Directive 2014/95 (NFRD) ...
In summary, this note includes information in relation to: the UK REIT regime; advantages of using a Jersey company as the REIT vehicle; TISE listing process and listing document requirements; TISE’s continuing obligations requirements; and Carey Olsen and our REIT experience. We trust that the above will be of assistance ...
Since March 2020, the United States and Canada have agreed upon mutually reciprocal COVID-19 related travel restrictions. U.S. and Canadian officials mutually determined that “non-essential” travel between the U.S. and Canada “poses additional risk of transmission and spread of the virus associated with COVID-19 and places the populace of both nations at increased risk of contracting the virus associated with COVID-19 ...
Since March 2020, the United States and Canada have agreed upon mutually reciprocal COVID-19 related travel restrictions. U.S. and Canadian officials mutually determined that “non-essential” travel between the U.S. and Canada “poses additional risk of transmission and spread of the virus associated with COVID-19 and places the populace of both nations at increased risk of contracting the virus associated with COVID-19 ...
Following July 8, 2021’s Client Alert, the California Department of Financial Protection and Innovation (DFPI) posted its CFL Transition Checklist for existing California Financing Law licensees to begin the license administration transition over to the Nationwide Multistate Licensing System (NMLS) portal. The deadline for submitting CFL transition applications through the NMLS portal is December 31, 2021 ...
We have this year assisted with numerous new financings, covering everything from new bank syndicates, refinancings, direct lending and bond loans. It has in periods been especially hectic within the shipping, aviation and renewable energy sectors. On the regulatory side, we have had a particular focus on the LIBOR transition ...
By: Jenni Krengel and Tonie Bitseff On Friday, the IRS issued Revenue Procedure 2021-30 expanding the Employee Plans Compliance Resolution System ("EPCRS")—a voluntary program for correcting errors in tax-qualified and section 403(b) plans—by adding two new methods for recouping benefit overpayments, among other changes ...
