To mark the launch of EG's latest UK Cities Investor Guide at MIPIM 2023, Shoosmiths real estate partner Patrick Duffy joined a panel discussion on public-private partnerships. The session explored the opportunities and challenges that will affect the growth of UK cities, as well as what more can be done to attract innovation and investment ...
Previously, the Government issued Decree No. 03/2023/ND-CP dated 10 February 2023 on the functions, tasks, powers and organizational structure of the Vietnam Competition Commission (“VCC”) (“Decree 03”). The Prime Minister has now issued Decision No. 310/QD-TTg dated 29 March 2023 appointing Mr. Le Trieu Dung to hold the position of Chairman of the VCC (“Decision 310”). Before being appointed as the Chairman of VCC, Mr ...
The Limited Partnerships (Jersey) Law 1994 (the “Law”) governs Jersey limited partnerships. A limited partnership seeks to combine the flexibility and “tax transparency” offered by a partnership structure with the benefits, for limited partners, of limited liability offered by a company ...
The development of Bermuda's insurance regime is a result of prevailing market conditions and considerations. Recent enhancements to Bermuda's insurance regime have focused on commercial insurers (particularly in the life sector) and this trend looks to continue through and beyond 2023. That said, the BMA recently updated the Insurance Code of Conduct (the Code) in September 2022 ...
On 30 March 2023, the State Administration Council enacted the 2023 Union Tax Law (“2023 UTL”), which clarifies the tax rates and related procedures concerning income tax, commercial tax, and specific goods tax. This new law is effective on 1 April 2023 or the start of the new financial year 2023-2024 in Myanmar ...
The first hearings for the official UK Covid-19 Inquiry are fast approaching – though less quickly than originally anticipated, with the start date now delayed to Tuesday 13 June. Although public hearings are yet to get under way, the Inquiry has nonetheless had a busy February and March, with preliminary hearings for Modules 1 (pandemic preparedness and resilience), 2 (political and administrative decision-making) and 3 (impact on the healthcare sector) all taking place ...
Facilitating whistleblowing and supporting those who do raise concerns is a very important health check for charities, who are judged not just on the basis of what they do, but also how they do it, and who need to remain mindful of “walking the talk ...
The Directorate of Investments and Company Administration (“DICA“) announced on 1st April 2023 (“Announcement“) regarding the additional requirements when the annual return (“AR“) is submitted by the companies to DICA within two months after registering their company under the Myanmar Companies Law (“MCL“) ...
The Law on Food Safety which was promulgated on 8 June 2022 obliges food business operators (such as food business owners or manufacturers, processors, packagers, wholesalers, retailers, and distributers) (“Operators”) to immediately notify the competent authorities of problems with the food products and cooperate with the authorities to implement measures to avoid or minimize risks caused by the food, as well as to trace, recall, and withdraw unsafe food products from the market ...
March 31, 2023 By: Michael Flynn and Brett Voets On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued the long-awaited final version of its rules on Small Business Lending under the Equal Credit Opportunity Act.[1] The new rule imposes significant burdens and risks on lenders, and will likely result in significant amounts of loan-related data being made public, as discussed below ...
Time is running out for developers that have not yet signed the Developer Remediation Contract. The Secretary of State for Levelling Up, Housing and Communities, Michael Gove, delivered a clear message last week: “The Responsible Actors Scheme is coming. Only developers who behave responsibly will be trusted to build the homes of the future. Any eligible developers who fail to do the right thing will need to find a new line of work” ...
Biometric identifiers are unique to every individual. They include your fingerprints, facial structure, and even how you walk. There is the Illinois Biometric Information Protection Act (“BIPA”), and biometric protection bills are currently working their ways through the legislatures in Maryland and Mississippi ...
European Securities and Markets Authority (ESMA) published its final report on “guidelines of MiFID II product governance requirements” yesterday ...
March 28, 2023 By: Meghna Parikh The Department of Justice (DOJ) Civil Cyber-Fraud Initiative continues to raise the stakes for government contractors. This initiative uses the False Claims Act (“FCA”) to hold government contractors accountable for knowingly (1) failing to monitor and report cyber data breaches, (2) implementing inadequate cybersecurity measures or (3) misrepresenting their cybersecurity practices ...
We previously provided an update regarding the enactment of a capital gains tax (the “Tax”) in the State of Washington (read about it here). In that article, we noted the Tax was subject to at least one lawsuit in Washington. That lawsuit resulted in the trial court striking down the Tax, which caused an appeal to the Washington State Supreme Court (the “Court”) ...
On March 17, 2023, the General Services Administration (GSA) announced it will be holding a Tribal Consultation on April 3, 2023, in Las Vegas, Nevada, from 1:00 p.m. to 2:50 p.m., Pacific Time. The Tribal Consultation will be held at the Reservation Economic Summit 2023 (RES 2023), in Caesars Palace ...
Ensuring the safety and security of funds is a top priority for financial institutions worldwide. To this end, the South African Government has put in place various regulations to guide the operations of financial institutions. We have written several articles on the recent changes to the Financial Intelligence Centre Act, 2001 (“FICA”) and the regulations promulgated under FICA ...
Law and regulation in this area are developing at pace and it’s no longer just those businesses looking for ESG linked products which need to be analysing their Environmental, Social & Governance (‘ESG’) behaviours. This article considers what businesses may wish to be doing voluntarily, either as good practice or in preparation for a financing, in terms of developing their ESG practices ...
Paul Carney and Craig Thomas explore the impact of the Chancellor's 2023 Spring Budget on the taxation of pensions in the UK. The Chancellor’s budget statement on 15 March caused many to be surprised and some to be perplexed ...
This article looks at what ESG means, what we really mean when we talk about ‘ESG lending’, and the types of ESG lending available. When people talk about ‘ESG Lending’ they’re often talking about sustainable lending - encompassing social loans, green loans and sustainability linked loans. Potentially available to all businesses, now is a great time to get familiar with these types of products, as well as the corresponding jargon ...
The Regulation’s overall goal is to encourage Member States to carry out Strategic Mineral Projects involving minerals such as e.g. Copper, Titanium, Nickel – battery grade, Lithium – battery grade, and Rare Earth Elements for magnets. The aim for the EU’s extraction capacity is set to be at least 10 % of the Union’s consumption of strategic raw materials ...
Debtors hoping to discharge their obligations in bankruptcy may find a new hurdle based on the US Supreme Court’s Feb. 22 ruling. Relying on the plain language of the Bankruptcy Code, and Congress’s use of passive voice, the Supreme Court held that funds obtained through fraud, regardless of who committed such fraud, are not dischargeable through bankruptcy ...
With an aim of improving the efficiency and competitiveness of Kenya's productive resources, the Privatisation Bill, 2023 aims to replace the current Privatisation Act, 2005. President William Ruto has to privatise six to 10 state corporations to ease the burden on the exchequer and to raise financing for government projects through the Nairobi Securities Exchange (NSE) instead of seeking financing from external markets ...
People hoping Washington would closely follow Oregon into the regulated use of psilocybin overseen by licensed practitioners faced a delay when a committee of the Washington legislature converted Senate Bill 5263 from legalizing psilocybin services to calling for more research. On March 7, 2023, the state senate passed the substitute version of SB 5263 with 41 votes for passage and 7 opposed ...
