Record number of fines in 2021 At European level, a record number of fines have been issued during 2021 for violating the EU General Data Protection Regulation (GDPR). Since the GDPR entered into force in the EU on 25 May 2018, the supervisory authorities have imposed or notified fines in approx. 900 cases with an accumulated amount of approx. EUR 1.3 billion. As many as 500 of these cases are from 2021 with accumulated fines of as much as EUR 1 ...
The transaction pace and volume of 2021 was the silver lining of the Covid-19 overcast, keeping our clients and us busy and productive. Particularly the container ship market has been steaming hot, with rapidly increasing prices and high transaction volume. The bulker market has also seen the highest prices for the last decade, with correspondingly high transaction volume ...
With answer to ruling no. 839 of 21 December 2021 (the Ruling 839/2021), the Italian Tax Authorities (ITA) clarify that credit institutions established in the United Kingdom (UK) cannot benefit from the withholding tax exemption on interest and other proceeds from medium-long term loans provided for by Article 26, para. 5-bis, of Presidential Decree no. 600/1973 (the Decree 600/1973). https://www.gop.it/doc_pubblicazioni/935_qrpnmu9tzy_ita ...
After more than a decade of litigation, three appeals, and a two week bench trial, the Fifth District Court of Appeal (“DCA”) rejected claims by three retired members of a retirement system that a retirement board breached its fiduciary duties of loyalty and prudence to the retirement system’s members ...
In this article we look at Prevention of Future Death reports (“PFDs”) issued by Coroners in England and Wales – specifically those which have been made in relation to deaths arising from or connected with the COVID-19 pandemic. We assess the significance of the reports and how they may relate to the COVID-19 public inquiry examining the government’s response to the pandemic ...
Part 1 of this insight focused some of the current immigration routes for consideration by Scottish employers to mitigate the Scottish labour shortage. Part 2 of this insight explores some of the new routes expected to be opened up by Spring 2022. Innovation visas Global Business Mobility Route In spring 2022, the Home office is due to launch the new Global Business Mobility route ...
On December 19, Gabriel Boric was elected as future President of Chile, and will take office on March 11, 2022. The following is a list of the main tax proposals1 of the recently elected candidate: New income tax regime: a disintegrated income tax regime is proposed for large companies, separating the tax paid at the company level from the one payable by its shareholders when withdrawing profits ...
We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors. It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing ...
In Appeal of Carothers Constr., Inc., the Armed Services Board of Contract Appeals (the “Board”) rejected the Government’s reliance on strict compliance with the material specifications for a 2 1/2″ thick roof deck product when the contractor proved the substitute 2″ thick roof deck was equivalent ...
Legislation about retainage has become common place as many states have adopted different limitations, requirements, and schemes. A recent case in Tennessee is a good reminder that you must pay attention to all of the relevant state’s requirements. Failure to do so can be costly. In Snake Steel, Inc. v. Holladay Construction Group, LLC, the Tennessee Supreme Court recently addressed Tennessee's retainage requirements ...
On Dec. 17, 2021, the United States Court of Appeals for the Sixth Circuit ended the injunction preventing enforcement of the Occupational Safety and Health Administration’s (OSHA) Emergency Temporary Standard (ETS). The ETS requires that large employers must implement a COVID-19 vaccine mandate or testing protocol ...
Late Friday, the United States Court of Appeals for the Sixth Circuit issued an Order and Opinion lifting the stay that previously had been entered by the United States Court of Appeals for the Fifth Circuit which had prevented the OSHA COVID-19 emergency technical standard (the “ETS”) that applied to employers with 100 or more employees from going into effect ...
Following the publication of its guidance on environmental claims in September 2021, the Competition & Markets Authority (CMA) will start reviewing potentially misleading claims in January 2022. Enforcement action may follow if claims breach consumer law ...
The UK has introduced new legislation that, from 4 January 2022, will require transactions in certain specified sectors to be approved by the UK government before they can be completed. A new regime The UK is introducing a new regime which, from 4 January 2022, will require purchasers to obtain prior approval for transactions in certain specified sectors ...
Led by legal director of immigration, Rachel Harvey and principal associate, Sian Hoare, this webinar provided a post-Brexit recap, outlined general trends and looked at what is on the horizon for immigration law in 2022. Free movement in the UK for all EU citizens ended on 31 December 2020. As a result, there have been significant changes to the UK immigration rules and it looks likely that further changes are still to come in 2022 ...
Financial Services Climate risk — progress of Joint Committee on Climate Change In a joint statement, Bank Negara Malaysia (“BNM”) and Securities Commission Malaysia announced on 10 December 2021 the following: the Joint Committee on Climate Change (“JC3”) will issue a Reference Guide on Climate Risk Management and Scenario Analysis, which sets out expectations for financial institutions to integrate climate-related risks considerations in finan
The U.S. Department of Justice (“DOJ”) recently signaled its intent to prioritize prosecuting individuals who commit corporate environmental crimes ...
In October 2021 the UK government introduced a new International Sportsperson route to cater for elite athletes and qualified sports coaches wishing to work in the UK. The new International Sportsperson route was introduced on 11 October 2021. It merges and replaces the previous Tier 2 Sportsperson route and the sporting provisions of the Tier 5 Creative and Sporting Worker route ...
The General Department of Taxation (“GDT”) issued new Instruction No. 20522 (“VAT Instruction”) on 8 December 2021 which provides further clarity on the implementation of Sub-Decree 65 S.E and Prakas 542 MEF.P that were both issued earlier this year ...
Since the UK left the European Union, new rules have come into force surrounding the travel of pets. This article outlines the current position on bringing cats, dogs and ferrets into England, Scotland and Wales. Prior to Brexit, UK pet owners could travel freely with their cats and dogs between EU countries, provided their pet was microchipped and also had a pet passport ...
On December 9, 2021, the Safer Federal Workforce Task Force issued a new statement regarding the court orders enjoining implementation of the federal contractor vaccine mandate ...
In a statement last week, the justice secretary, Dominic Raab, warned that parents who bring vexatious claims to the family courts will face financial penalties. The policy is part of plans currently being drawn up by the government to introduce new incentives and disincentives to “spare children the trauma of seeing their parents fight it out in court” ...
