The season of goodwill is upon us, with retailers and the press announcing Christmas charity partnerships to raise funds for good causes, but the cost-of-living crisis will still be with us in 2023. Charities are increasingly feeling a greater level of pressure to be the first line of defence as gaps in public services open up and they face a “triple threat” of increasing running costs (in particular, energy bills), rising service demand, and falling incomes ...
Anyone familiar with the construction industry knows that retainage – or money held back from payment until a later time – is a tool that project owners and general contractors have long used to protect against contractor nonperformance or other project risks ...
AML/ATF and Sanctions The Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008 provide that the Bermuda regulated sectors and relevant persons must apply enhanced customer due diligence to customers in high-risk jurisdictions ...
The SEC Division of Examinations issued a Risk Alert on December 5, 2022 detailing observations from examinations of investment advisers and broker-dealers related to compliance with Regulation S-ID ...
On December 13th, 2022, Decree No. 84 was published in the Official Gazette approving the Regulations governing mediation, conciliation, and arbitration in consumer matters, which will enter into force six months after publication, that is, on June 23rd, 2023. The issuance of this regulation is framed in the recent entry into force of the Pro-Consumer Law that seeks to encourage consumer protection ...
Having elapsed the period contemplated for the transitory regime of Law No. 21,934, published on November 30, 2021 (the "Law"), by means of which a set of reforms to the justice system were introduced, the permanent regime provided by the Law, whose general rule is attendance regime, notwithstanding the exceptions contemplated by the Organic Code of Courts, is now in force. The main provisions of the permanent regime may be found in ours News Alert 454 and News Alert 453 ...
On 5 December 2022, the Ministry of Labour and Vocational Training (“MLVT”) issued Notification 045/22 on Extending the Deadline for the 2023 Foreign Employee Quota Application (“Notification”). Through the Notification, the MLVT has delayed the submission deadline for 2023 foreign employee quota applications until 31 January 2023, being two months after the original deadline ...
As we take stock on 2022, and look forward to 2023, let’s briefly reflect on some of the topics that are current with our Living sector teams and clients ...
New biodiversity net gain (BNG) requirements are set to be enforced in November 2023, giving developers and the wider real estate industry less than 12 months to prepare. The legislation will require all new developments in England, bar a few exceptions, to deliver at least 10 per cent BNG – impacting commercial and residential developers. The requirements form part of the Environment Act 2021, which received Royal Assent in November 2021 ...
On December 1, 2022, the United States Department of Defense, General Service Administration, and National Aeronautics and Space Administration (NASA) issued a final rule amending the Federal Acquisition Regulation (FAR) to implement a section of the 2016 National Defense Authorization Act. The previous FAR 1 ...
Just weeks after the “implosion” of cryptocurrency exchange FTX, credit services provider BlockFi filed for Chapter 11 protection with the United States Bankruptcy Court for the District of New Jersey, indicating that it is burdened with billions of dollars of estimated liabilities and more than 100,000 creditors ...
The EU’s Digital Markets Act (DMA) [1] entered into force on 1 November 2022. A business that considers the platform it uses will likely be designated as a ‘gatekeeper’ and that the platform’s rules/behaviour are unfair can take certain steps now [2]. Q1 2023 to Q2 2023 - Engage with the platform to change its rules/behaviour ...
The Mayhew Review - Future-Proofing Retirement Living, issued in November 2022, has the premise that the UK is failing to adapt to the impacts of an ageing population. Mayhew bills this as both a housing issue (in the wider Living sector sense) and a care issue ...
The UK data regulator, the Information Commissioner’s Office (“ICO”), has released a statement warning organisations to assess the public risks of using emotion analysis technologies, with those failing to do so risking investigation and enforcement action ...
The ICO Children’s Code was introduced in September 2020 by the UK data regulator. One year on from the 12-month implementation period, we are asking what is the Code's impact, and does it go far enough to protect children's privacy online? Why a Children’s Code One critical concern is that the internet was not designed with children in mind: yet UNICEF estimates that one in three internet users are children ...
With preliminary hearings now underway for Modules 1 and 2 of the COVID-19 Public Inquiry (‘the Inquiry’), its approach to expert evidence is emerging as an important issue for Core Participants (‘CPs’) ...
The EU revenue cap which limits certain electricity generators' revenues has raised many questions within the energy sector. In Finland, the revenue cap will likely be implemented in the form of a temporary windfall tax which would apply to profits made in 2023. Our energy team's associate Nelli Rönkkö has summarised the key points regarding the implementation of the EU revenue cap in Finland ...
On 1 January 2023, the BVI Business Companies Act, 2004 will be amended by the: (1) BVI Business Companies (Amendment) Act, 2022; and (2) the BVI Business Companies (Amendment) Regulations, 2022 (together the “Amendments”). The Amendments will impact all companies incorporated or registered in the BVI (“Companies”) ...
The SEC has published its final rule for the recovery of erroneously awarded compensation (“final rule”) ...
Dr Ingrid Fenech participated in the Society Education Annual Conference on Aspects of Maltese Company Law held on 29th November, where she delved into the recent amendments to the Companies Act introducing the notion of cell companies carrying on or engaged in shipping or aviation business ...
The American Bar Association (ABA) has issued its second formal opinion concerning Model Rule 4.2 in as many months. The so-called “no-contact rule” prohibits a lawyer from having contact with a represented party about the subject of the representation. The Rule does not, however, account for the “reply all” function in email communications ...
As 2022 draws to a close we are provided with an opportunity to reflect on what has been and what is still yet to come. The UK tech sector has grown substantially since Brexit took effect in 2020, the real effects having been masked until now by the ensuing global pandemic. It has only really been in 2022 that the business community has been able to properly see the opportunities, and the challenges, that the sector faces ...
Treehouse Avatar LLC v. Valve Corp., Appeal No. 2022-1171 (Fed. Cir. Nov. 30, 2022) In the only precedential patent opinion issued by the Federal Circuit this week, the Court affirmed a district court’s summary judgment ruling that appellee Valve Corporation’s popular “Dota 2” and “Team Fortress 2” online videogames did not infringe Treehouse Avatar’s U.S. Patent No ...
Earlier this year, the Hong Kong Court of First Instance gave its reasons for its decision in the matter of Re WSY.* As is becoming increasingly common, this case involved the issue of how to deal with the assets of someone who had lost capacity, what is known in Hong Kong as a mentally incapable person, or MIP. One of the issues was whether to make provision for religious charities from the MIP's assets. In this instance the relevant MIP was known in the proceedings as WSY ...
