Overview The Law on Trusts promulgated on 2 January 2019 provides the legal framework for the creation, registration and inspection of trusts in Cambodia. To facilitate the implementation of the Trust Law, the Trust Regulator on 3 November 2022 issued Prakas 051 on the Formalities and Procedure for Inspection of Trusts (“Prakas 051”). Prakas 051 applies to the inspection of activities and operations related to the trust sector in Cambodia ...
On May 9th, 2023, Law No.21,565 of the Ministry of Women and Gender Equity was published in the Official Gazette, which establishes a regime of protection and integral reparation for victims of femicide and femicide suicide and their families. The objective of this law is the creation and strengthening of effective and necessary actions by the State for the attention and integral reparation of the damage of the victims of femicide and femicide suicide ...
Why is ESG of importance to charities when they already make such a positive difference to society? Because there is still much to be done about how charities undertake their valuable work, and many do not yet communicate to stakeholders all the things they do well, in a systematic and measurable way. And because two thirds of millennials consider the social and environmental commitments of an organisation when deciding where to work ...
SyCipLaw's Banking, Finance & Securities Department's Banking Bulletin for April 2023 features the latest issuances from theBangko Sentral ng Pilipinas(BSP or Central Bank of the Philippines), which includes the amendment of the miscellaneous rules on deposits and the issuance of rules on mediation and adjudication of financial consumer complaints: BSP Amends Miscellaneous Rules On Deposits On December 14, 2022, the BSP issued Circular No ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has just published the SyCipLaw TMT and Data Bulletin covering significant Philippine legal and regulatory developments in the technology, media, telecommunications and data space, from late 2022 to the first quarter of 2023. It also notes links to podcasts and materials relating to TMT and dataPLUSa commentary on whether AI can replace a local counsel ...
The IDP is valid for 10 years (unless extended) and the States are required by law to keep it under review. The DPA was about to embark on a review in 2020 but this was put on hold due to the COVID-19 pandemic. Last year, the States approved an action to carry out a targeted review of the IDP between 2023 and 2025. The review The review commenced on 25 January 2023, and it focuses on amending certain policies to meet government priorities ...
The Digital Markets, Competition and Consumers Bill's granting of power to the Competition and Markets Authority to impose financial penalties has grabbed the headlines. The Government’s press release published alongside the Bill boasts that the CMA will be able to fine businesses up to 10% of their global turnover for mistreating customers ...
The recent sanction judgment gives important guidance on the way in which the court's discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own ...
On May 15, 2023, the Chilean Congress approved the Bill that systematizes Economic Crimes and Attempts against the Environment (the "Bill"). Thus, the Bill was sent to the President of the Republic for its enactment into law, subject to the preventive control to be carried out by the Constitutional Court ...
On 10 May 2023, theInformation Regulator(the “Regulator”), an independent body established to monitor and enforce compliance by public and private bodies with the provisions of the promotion of access to information act, 2000 and the protection of personal Information Act, 2013 (“POPIA”) announced that it had issued anEnforcement Noticeto the Department of Justice and Constitutional Development (“theDepartment”) in terms of POPIA on 9 May 2023 ...
Gone are the days when satellite communication was limited to those brick phones with long antennas. Satellite communications services are gaining traction globally as they offer alternative ways of connecting end users to the Internet and other related communications services. However, as electronic communications services via satellites become more popular and accessible, service providers are met with regulatory challenges ...
Have you ever browsed one of your favourite online retail platforms and noticed an entirely new clothing collection launched by the brand for your metaverse avatar? In February of this year, we stumbled upon Zara’s Valentine’s Tale range. The collection comprised 22 digital assets which included necklaces, earrings, rings and bags that could be purchased for your avatar through Zepeto, which is Asia’s largest metaverse platform ...
As highlighted in our previous article, the Infected Blood Inquiry’s first interim report established considerable liabilities in relatively short order, recommending that £100,000 be paid “without delay” to victims and partners bereaved by infections transmitted by blood transfusions and blood products. Sir Brian Langstaff, former High Court judge and current Chair of the Infected Blood Inquiry, released his second interim report on 5 April 2023 ...
The government is pushing ahead with the establishment of a Responsible Actors Scheme (RAS) provided for under s.126 and 129 of the Building Safety Act 2022. The Scheme is initially aimed at major housebuilders and other large developers that have developed or refurbished multiple residential buildings that are known to have life-critical fire safety defects ...
By imposing the obligations, the regulation aims to end unfair practices and conduct which is harmful to competition and end users by the companies acting as gatekeepers in the online platform economy. Under the DMA, a firm will be considered as a designated gatekeeper if three criteria are met. First, the company must have a significant impact on the European market which is determined by the company’s turnover ...
It would be a surprise to many, but it has been common knowledge to criminal practitioners for years, that a criminal defendant’s sentence for a crime which they have been convicted can be increased based on consideration of conduct that the jury acquitted ...
Brian O'Shaughnessy is an intellectual property partner at Dinsmore and board chair of the Bayh-Dole Coalition. He wrote this article for InsideSources.com. The American inventor is under attack, and it’s coming from our government ...
On 28 April 2023, a new law was adopted on additional restrictions on devices for the consumption of nicotine-containing products (the “Law” and “Devices”, respectively). The Law introduces special new aspects on the retail, advertising and manufacturing of Devices as well as further restrictions on turnover of nicotine-containing products ...
On May 7th, 2023, it was held the election of the members of the Constitutional Council, the body in charge of preparing the Proposal for a New Constitution based on a preliminary draft that is currently being prepared by the Expert Commission. According to the election results, the Constitutional Council will be composed of 51 members, politically distributed as follows: 23 elected members representing the Partido Republicano (right-wing political party) ...
The SEC Division of Examinations (“Examinations”) issued a Risk Alert on April 26, 2023 to highlight the importance of establishing written policies and procedures for safeguarding customer records and information at branch offices. Examinations provides that a branch office includes any location other than a firm’s main office, including offices of any independent contractors through which a firm may offer investment products and services ...
The UK government has proposed legislation (the Digital Markets, Competition and Consumers Bill) that would materially affect merger control for transactions of both UK and non-UK companies. This comment addresses the proposed introduction of a mandatory reporting regime as a prior step to the current merger control regime in the UK ...
The UK government has proposed legislation (Digital Markets, Competition and Consumers Bill - Parliamentary Bills - UK Parliament) that would materially affect merger control for transactions. This comment addresses the proposed changes that would be of concern to those engaged in mergers affecting local markets ...
