August 16, 2022 By: Gwenneth O’Hara and Samir Hafez President Biden signed the Inflation Reduction Act of 2022 (HR 5376) (the Act) into law on August 16, 2022, after the Senate-passed bill sailed through the House of Representatives last week on August 12. The Act includes a range of incentives and tax credits aimed towards accelerating the production of emissions-free energy, and is largely seen as a win for the energy storage sector ...
Introduction On 30 June 2022, the Council of the European Union (EU) announced1 that the Council presidency and the European Parliament reached a provisional agreement on the proposed markets in crypto-assets regulation (MiCA). More details here. The aim behind the proposed regulatory framework is to bring legal and regulatory certainty for crypto-asset operators across the EU ...
Dear valued clients, colleagues and friends, Our TMT Partners, Christina Kow and Timothy Siaw, have co-authored the Malaysian chapter of The International Comparative Legal Guides — Fintech 2022. The chapter covers a broad overview of the development of Fintech and its regulation in Malaysia. Click here to read more. This article was first published in the ICLG —Fintech.https://www.shearndelamore.com/publication/2022/FIN22_Chapter_26_Malaysia ...
On August 5, 2022, in compliance with the mandate set forth in the new article 19 ter of the law 18,010, on money lending operations, the Financial Market Commission (“FMC”) published, , the General Rule No. 484, with the purpose of regulating the requirements, rules and conditions that the money lending operations granted by entities subject to its supervision or oversight must fulfil (the “GR 484”) ...
With the lifting of the restrictions on the presentation of winding up petitions, and the likely cash flow pressures caused by price inflation, it is widely anticipated that we will see an increase in the number of companies subject to winding up proceedings ...
On August 2, Law No. 21,472 was published, which creates a tariff stabilization fund and establishes a new transitional electricity price stabilization mechanism for customers subject to price regulation. This new law complements the stabilization mechanism established in Law 21.185 (known today as PEC 1), whose stabilization fund of US$1.35 billion was exhausted ahead of schedule ...
This article explores the importance of protecting your cryptocurrency investment by having access to the ‘private key’. Without it, you are not really in control of that cryptocurrency and can’t prove you are the true ‘owner’ of it. Crypto, cryptocurrencies, NFTs, blockchain – exciting, enticing, and quickly becoming a favoured source of investment ...
A summary of the key takeaways from a recent webinar on reducing scope 3 emissions: Fuel and Energy-Related Activities. Shoosmiths is delighted to be sponsoring United Nation Global Compact Network (UNGC) UK’s series of webinars on ‘Reducing Scope 3 Emissions’ ...
Daniil Lozovsky, Senior Attorney of the Competition/Antitrust Practice, and Grigory Viktorov, Junior Attorney of Competition/Antitrust Practice prepared an article “The new foreign direct investments regime in Russia” in Mergers & Acquisitions Expert Guide 2022 published by the Corporate LiveWire magazine. The article is aimed at informing the readers on the new FDI regime, the corresponding legal basis and the related matters ...
In order to provide clarity regarding the tax obligations of financial technology providers and users in Indonesia, Indonesia’s Minister of Finance (“MOF”) issued MOF Regulation No. 69/PMK.03/2022 on the Income Tax and Value Added Tax on the Organization of Financial Technology (“MOF Reg 69/2022”) on 30 March 2022, which came into force on 1 May 2022 ...
We would like to share with you the most recent updates regarding the draft Power Development Plan (“PDP”) VIII, a mechanism for wind, solar power projects in transition and future, and the police investigation into 62 wind power projects. PDP VIII UPDATE Following the report of the Ministry of Trade and Industry (“MOIT”) to the Prime Minister under official letter no ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for July 2022. Financial Services Bank Negara Malaysia issues new policy documents for Money Services Business Tax & Revenue Income Tax (Exemption) (No. 5) Order 2022 Income Tax (Exemption) (No. 6) Order 2022 Time Limit for Unabsorbed Adjusted Business Losses Carried Forward (Public Ruling No ...
Does the recent High Court decision in Butler-Sloss and Others -v- The Charity Commission and the Attorney General change the law on how charity trustees should approach investing their funds? The short answer is “no”. The decision is a reinterpretation of the 30-year-old decision in the Bishop of Oxford case for our modern world and a reinstatement of the fundamental duty of charity trustees to act in the best interests of their charities’ purposes ...
Background The Malta Financial Services Authority has informed investment firms of the amendments carried out to Part BI of the investment services rules for Investment Services Providers. These amendments seek to implement the provisions of the Commission Delegated Regulation (EU) 2021/1253 ...
We publish the new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 2nd quarter of 2022 brings together the most significant new developments in these areas. In this newsletter, you can find legislative news regarding the National Bank of Angola, President of the Republic, Government/Parliament and CMC ...
Commission Delegated Regulation (EU) 2022/1288 On 25 July, Commission Delegated Regulation (EU) 2022/1288 of 6 April 2022 supplementing Regulation (EU) 2019/2088 of the European Parliament and of the Council (“Delegated Regulation”) was published at the Official Journal of the European Union. The Delegated Regulation adopts Level 2 regulation on the sustainability-related disclosures in the financial services regulation, or SFDR, which enters into force on 1 January 2023 ...
Background The Malta Financial Services Authority has recently introduced changes to the investment services rulebooks for Undertakings for Collective Investment in Transferable Securities (UCITS) management companies (ManCos) and Alternative Investment Fund Managers (AIFMs) to: (i) transpose the Commission Delegated Directive (EU) 2021/1270 amending Directive 2010/43/EU (1) as regards the sustainability risks and sustainability factors to be taken into account fo
Mayuree Sapsutthiporn, Partner and Head of China Practice of Kudun and Partners, and Wu Xiaomin, Manager of China Practice, were invited as guest speakers to share their insights on the “Main Legal Issues And Risks Chinese Enterprises Need To Be Aware of When Doing Business In Thailand” held by China Council for the Promotion of International Trade (“CCPIT”), and other related organizations ...
Peerasanti Somritutai, partner and head of the real estate practice of Kudun and Partners, represented the firm as a panelist in a webinar organized by the Legal & Tourism Hospitality Committees of the American Chamber of Commerce in Thailand (AMCHAM), to share his commercial and legal insights in relation to the topic “Financing the Return of Thailand’s Hospitality Sector” ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest issue our quarterly Newsletter, we hope that you will continue to find its contents of value to you ...
Houst’s Restructuring Plan was sanctioned last week. It was notable because of its size, that is, the company is very small compared with the financial giants which have used the process so far - and because it used the cram-down facility to overrule HMRC in its status as a secondary preferential creditor ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for July 2022. Financial Services On 30 June 2022, Bank Negara Malaysia issued a policy document on Bancassurance/Bancatakaful. The policy document shall come into effect on 1 January 2023 (except paragraphs 9.12 to 9.14 which have come into effect from 30 June 2022) ...
