Beneficiaries of UK, USA or other non-EU state subsidies will have to notify the European Commission under a new regime when engaged in certain mergers & acquisition (M&A) transactions or tendering for certain EU public contracts.This notification obligation commences on 12 October 2023. The transaction cannot be completed or the procurement contract entered into, until consent has been received from the European Commission following notification ...
As businesses continue to operate in an increasingly globalised economy, the transfer of personal data across international borders has become a critical aspect of many operations. However, with the latest legislative changes from the EU, it has become more challenging to transfer data lawfully to third countries. By now, you may have had requests to amend your contracts with international counterparts ...
Jersey offers a range of fund types and structures to suit the needs of sophisticated sponsors and investors including Jersey Private Funds, Notification Only Funds (also known as Eligible Investor Funds) and Collective Investment Funds (CIFs), such as Jersey Expert Funds and Jersey Listed Funds ...
On 17 January 2023, Getty Images brought copyright infringement claims in both the US district (Delaware) court and in the UK High Court against Stability AI, the company behind ‘Stable Diffusion’ which is one of the artificial intelligence-powered image generators which have emerged over recent months. AI generators are able to develop images in response to keywords or instructions entered by a user ...
With the rise of DALL-E 2, Midjourney and others, AI powered tools are becoming more capable and impressive. Brands have started to use these tools for marketing campaigns such as BMW’s advertising campaign for the 8 Series Gran Coupé, where the car became a canvas for an AI-powered robot artist ...
Amongst the pensions, childcare and other headline financial announcements in this week's Spring Budget, Jeremy Hunt signalled the Government's continued focus on Artificial intelligence (AI) as a targeted growth sector for the UK economy. The Chancellor pledged a £900m investment to support the development of supercomputing capabilities that can underpin the growth of the AI sector in the UK ...
With the full implementation of the New Filing Rules, in addition to the requirements for domestic enterprises to file with the CSRC within three (3) business days after the submission of overseas listing application documents, the New Filing Rules also clarify the requirements for the reporting or filing procedures for domestic enterprises after overseas offerings and listings, including the filing requirements for follow-on securities offerings or the development in multiple capital markets of
“An ounce of prevention is worth a pound of cure.” Benjamin Franklin For tax advisors, CFOs, and finance personnel throughout Cambodia, the last few weeks of March are typically extra stressful due to the 31 March deadline for filing annual Tax on Income (TOI) declarations with the General Department of Taxation (GDT). Cambodia’s tax system operates on the principle of self-assessment, meaning taxpayers declare and pay taxes based on their reading of tax regulations ...
The Royal Government of Cambodia has issued the Sub-Decree on Requirements and Procedures for Business Combinations dated 6 March 2023 (“Merger Sub-Decree”). The Merger Sub-Decree elaborates on the prohibition on anti-competitive business combinations set out in Article 11 of the Law on Competition. The Merger Sub-Decree was officially implemented on its signature date (of 6 March 2023) and will be enforced within 6 months of that date ...
On February 1, 2023, the China Securities Regulatory Commission ("CSRC") solicited public opinions on the Measures for Administration of the Registration-based Initial Public Offerings of Stocks (Draft for Comment) (《首次公开发行股票注册管理办法（征求意见稿）》) ...
For a long time, overseas listing of domestic enterprises has been one of the major ways for investment institutions to exit. The filing-based system for overseas offering and listing adopts a unified regulation pattern over direct overseas listing and indirect overseas listing, optimizes the original examination and approval procedures for direct overseas listing and full circulation, and meanwhile increases the filing requirements for indirect overseas listing ...
On January 19, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here and here. The original deadline for comments on the proposed rule was March 20. On March 6, the FTC announced it is extending the deadline to submit comments to April 19. As of March 9, a total of 16,965 comments (8,848 electronically) have been received on the proposed rule ...
China Business Law Journal Published March 9, 2023 With the growing importance of environmental, social and corporate governance (ESG) and the high level of globalisation in capital and supply chains, the scope of ESG regulation is no longer confined to listed companies, the traditional targets ...
On Tuesday, February 21, 2023, Decree Nº318/2022 of the Ministry of Foreign Affairs was published in the Official Gazette, enacting the "Comprehensive and Progressive Agreement for Trans-Pacific Partnership" (CPTPP), which has entered into force as of that date. The treaty seeks to promote the economic integration of the parties, generating a common framework for trade policy, government procurement, intellectual property, electronic commerce, investment, among others ...
On Tuesday, February 21, 2023, Decree Nº318/2022 of the Ministry of Foreign Affairs was published in the Official Gazette, enacting the "Comprehensive and Progressive Agreement for Trans-Pacific Partnership" (CPTPP), which has entered into force as of that date. The treaty seeks to promote the economic integration of the parties, generating a common framework for trade policy, government procurement, intellectual property, electronic commerce, investment, among others ...
18.71 Duty to establish procedures for the enforcement of IP rights The treaty establishes a duty to improve, streamline and simplify procedures aimed at preventing and prosecuting intellectual property infringements. 18.72 Presumptions regarding IP rights A duty is incorporated in order to extend to related rights the presumption of ownership already contemplated in our legislation for intellectual works ...
In this article we follow up on some current issues in the defined contribution (DC) sphere. In its corporate plan for 2022 to 2024, the Pensions Regulator (TPR) reasserted its commitment to defined contribution savers getting the pensions that they are entitled ...
The proposal for the temporary Windfall Tax Act for enterprises operating in the electricity and fossil fuel sectors was approved by the Finnish Parliament on 27 February 2023 in an amended form. An overview of the Government's proposal can be found in our previous article on the subject. The Windfall Tax Act will be applied retroactively to the tax assessment of tax year 2023 ...
Dear Readers, ALRUD Regulatory practice has prepared a new version of our regulatory Guides. This Guide is devoted to an overview of key changes and trends that took place in 2022. The review was published with the participation of ALRUD experts - Maxim Alekseev, Senior Partner and Head of ALRUD Regulatory practice,Dina Kravchenko, Senior Associate, andBoris Pribylov, Senior Associate. Follow the link below to learn more ...
This is the third alert in a series designed to inform physicians and other health care providers of what to do in the event of a State Medical Board of Ohio (“Board”) investigation, how to potentially avoid an investigation and what to expect during a license disciplinary case ...
On December 30, 2022, the Asset Management Association of China ("AMAC") issued a consultation draft of the Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法 (征求意见稿)》) and the ancillary Guidelines No. 1-3 on private fund manager registration (collectively, the "Draft Rules"). On February 24, 2023, AMAC issued the updated Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法》) (the "Measures") and the ancillary Guidelines No. 1-3 (i.e ...
Although admittedly still in its early phase, the metaverse, a virtual world where users can interact with each other and digital objects in a 3D environment, provides exciting new opportunities with a multitude of implications for rights management and the Fintech sector. Facebook’s head-first charge into this new landscape attests to the importance of the metaverse. Last year, the tech giant rebranded its corporate identity to Meta to signal its commitment to the metaverse ...
“It’s a dangerous business, Frodo, going out your door. You step onto the road, and if you don’t keep your feet, there’s no knowing where you might be swept off to.” — Bilbo Baggins For those embarking on the process of obtaining a Value Added Tax (VAT) refund in Cambodia – it may feel at times like a perilous journey ...
