With this continued interest, a number of Singapore are managers using Jersey as the jurisdiction in which to domicile their funds. This choice is driven by several factors. Singapore tax treatment of digital assets. Digital assets do not fall within the definition of a “designated investment” for the purposes of Singapore tax legislation. This means that a Singapore domiciled fund will be subject to tax in the country, and such tax leakage is hugely unattractive to investors ...
The concept of “natural capital” seeks to recognise the role of nature as an asset which is key to the sustained functioning of human social and economic activity. Examples of natural capital include clean air, water supply, plant life, animals, soil and minerals ...
Last Wednesday, the United States Court of Appeals for the Fifth Circuit held that the CFPB's automatic funding structure violates the Constitution. Because the decision calls into question virtually all of the CFPB’s actions since its creation, it has wide-ranging potential implications for all financial services industries. Please join us for a lunch-time webinar as we unpack the Fifth Circuit’s decision and what it means for your business ...
Contents Please click on the links below to jump to the relevant section: Cayman fund vehicles Cayman fund regulation Mutual Funds Act Private Funds Act Additional regulatory obligations Penalties Cayman fund vehicles The Cayman Islands has the following range of vehicles that are typically used as investment funds: Exempted company Segregated portfolio company Limited liability company Exempted limited partnership Unit trust Exempted companies and segregated portfol
Careers Kudun and Partners Founded in 2015, Kudun and Partners is a modern and forward-thinking law firm with a vision for a more client-focused way of practicing ...
Thanyaluck Thongrompo, partner of Kudun and Partners, was invited to be a speaker at the Faculty of Law, Maejo University on the topic “International Trade: Regulatory Issues on Import and Export” where she shared her knowledge and experience in handling import and export matters in Thailand. This webinar is a part of the law students’ academic program that focuses on Law of Cross-Border Trade Economics ...
The Government of Malta reaffirmed its commitment to establishing Malta as a go-to jurisdiction for start-ups in its Budget for 2023. During the budget speech that was delivered on 24th October 2022, the Minister for Finance and Employment, Hon. Clyde Caruana announced that a one-stop shop for start-ups is set to be launched within the “Start in Malta” programme currently run by the Malta Enterprise ...
Three bills are being read in Parliament proposing new insolvency-related legislation and amendments: The Pre-Insolvency Bill; The Insolvency Practitioners Bill; and The Commercial Code (Amendment) Bill ...
On 6 October 2022, as part of the ongoing work of the OECD/G20 Inclusive Framework (“IF”) on Base Erosion and Profit Shifting (“BEPS”) to implement the Two-Pillar solution to address the tax challenges arising from the digitalisation of the economy, the OECD released its progress report for comment. Background The report was prepared for the purposes of obtaining further input from stakeholders on the administration and tax certainty aspects of Amount A ...
All employers in the UK have a responsibility to prevent illegal working which is done by undertaking simple right to work checks before an employee commences employment. 1. Why do employers need to know what IDSPs are? All employers in the UK have a responsibility to prevent illegal working which is done by undertaking simple right to work checks before an employee commences employment ...
The Bangko Sentral ng Pilipinas (“BSP”; the Philippine Central Bank) issued BSP Circular No. 1149, series of 2022 (Guidelines on the Integration of Sustainability Principles in Investment Activities of Banks). The Circular sets expectations on the prudent conduct of investment activities, as well as minimum practices that banks must establish for the management and control of investment-related risks ...
Loan facilities and bond loans usually include financial covenants, which are financial metrics the borrower/issuer need to comply with during the term of the financing agreement. The Norwegian market is dominated by maintenance covenants, which means the covenants must be complied with at all times. Over the course of a few months, geopolitical unrest, high inflation and prolonged supply chain issues have led central banks to increase interest rates and lenders to increase their risk margins ...
The Supreme Court's judgment is a landmark decision of significant importance in the arena of company law and directors' duties ...
Investment Zones are a lot like Freeport tax sites, arguably with more benefits, so are they friend or foe to Freeports? Background Liz Truss pledged to boost growth with “full-fat” Freeports as part of her leadership campaign in July 2022 and it sounded like all systems were finally go for Freeports ...
pMany development authorities and other economic or industrial development authorities in the State of Georgia (each, an “Authority”) offer “Economic Development and Incentive” programs for private companies which commit to make new capital investments that promote trade and commerce and provide new employment or retain existing employment ...
According to news reports issued on October 16, 2022, to further facilitate foreign capital investment in China A shares, the China Securities Regulatory Commission ("CSRC") is considering formulating a special exemption rule for the short swing profit rule ("SSPR")[1] for foreign investors (e.g. qualified foreign investors/QFIs and foreign investors under the Stock Connect scheme) ...
What are the legal consequences of an employee continuing to work after the employee has reached the agreed upon retirement age? Does a new contract of employment come into force or does the old contract continue operating? Can an employer still terminate employment on the basis that the employee has reached (and passed) their retirement age? These questions have been the subject of much debate over the years ...
On 14 October 2022, the Minister of Finance, Enoch Godongwana, in terms of the Financial Intelligence Centre Act, 2001 (“FICA”) made amendments to the Money Laundering and Terrorist Financing Control Regulations, 2002, which will come into force on 14 November 2022. In terms of these amendments, the prescribed amount for reporting cash transactions under section 28 of FICA to the Financial Intelligence Centre has increased from ZAR24 999 to ZAR49 999.99 ...
In the course of regular updates on Russian counter-sanctions measures, we would like to provide you with summarized information on: new Official Clarifications published[1] by the Ministry of Finance on October 14, 2022; and new Presidential Decree No. 737 published on October 15, 2022. The above have hugely updated the current counter-sanction FDI regime in Russia, in particular, new transactions requiring counter-sanctions approval were added (e.g ...
On October 7, 2022 Federal laws No. 376-FZ and No. 379-FZ which provide supplementary guarantees for employees came into effect. Among other things, new grounds for termination of an employment contract have been introduced and opportunity and procedure for an employment contract suspension for the period of military service have been formalized ...
On the 12th of July 2022, the Malta Financial Services Authority (the “MFSA”) issued a Consultation Document on the reporting of major ICT-related incidents with a consultation period expiring on the 5th of August 2022. The MFSA worked on introducing an updated major ICT-related incident reporting process that replaces the previous process that was communicated on the 25th of September 2019 entitled ‘Cybersecurity – Threat Mitigation’ ...
This week, BNY Mellon (“Mellon”), the nation’s oldest bank, announced it was making good on its February 2021 plan to develop the infrastructure necessary to serve as custodian for digital assets. Mellon announced the launch of a proprietary crypto custody software developed in partnership with Fireblocks, a digital asset custody, transfer, and settlement platform. With its announcement, Mellon became the first large U.S ...
On 5 October 2022, the Russian Federal Tax Service published the draft Order “On the Approval of the List of States (Territories) That Automatically Exchange Financial Information” (the “Draft Order”). The existing list of countries and territories that exchange such information is to be extended to include Kazakhstan, Maldives and Oman ...
