In its Primary Market Bulletin 49 (PMB 49) (published in May 2024), the UK Financial Conduct Authority (FCA) issues a reminder to premium listed companies incorporated in the UK of their continuing disclosure obligations under the Listing Rules (LR). FCA issues reminders to listed companies on disclosure obligations The reminders emerged following a thematic 2023 review (the review) looking at disclosures made pursuant to LR 9.4 and LR 13 ...
International Comparative Legal Guides Lending and Secured Finance 2024 - Jersey Contents Overview Guarantees Collateral Security Financial Assistance Syndicated Lending/Agency/Trustee/Transfers Withholding, Stamp and Other Taxes; Notarial and Other Costs Judicial Enforcement Bankruptcy Proceedings Jurisdictions and Waiver of Immunity Licensing LIBOR Replacement ESG Trends Other Matters 1. Overview 1 ...
As a young lawyer, you might be struggling to believe that you can make a difference and to figure out how to do so. You might also be wondering how to gain the courtroom experience seemingly necessary to build a legal practice. If either of these is true, consider how pro bono litigation has impacted our legal system and could impact your career. Even if you read no further, take this advice: volunteer for pro bono cases. In Gideon v. Wainwright, 372 U.S ...
Carey Olsen advises Patron Capital on its latest European real estate fund This is the third Patron Capital fund domiciled in Jersey under the island's well-established Expert Fund regime. Fund VII will continue the to employ Patron Capital's opportunistic investment strategy which focuses primarily on distressed and/or undervalued property and property related investments, mostly in Western Europe, and has a welcome ESG focus ...
In April 2024, the FCA issued practical steps and finalised guidance on the Anti-Greenwashing rule, effective from 31 May 2024, ushering forth the FCA's regulatory priority accorded to ESG and sustainability. On 28 November 2023, the UK Financial Conduct Authority (“FCA”) published consultation paper, GC23/3, (the “CP”) outlining its proposed guidance on the Anti-Greenwashing rule (ESG 4.3.1R, the “Rule”) ...
On June 3, 2024, a divided three-judge panel of the United States Court of Appeals for the Eleventh Circuit ruled that an Atlanta hedge fund likely violated 42 U.S.C. § 1981—the federal prohibition on racial discrimination in public and private contracting—by operating a grant contest that awarded $20,000 grants to select small business owners, all of whom, by the contest’s express rules, had to be Black women ...
On the 24th of April 2024 the European Parliament (hereunder the ‘EP’) adopted the Proposal for the amendments to the Directive 2014/49/EU as regards the scope of deposit protection, use of deposit guarantee schemes funds, cross-border cooperation and transparency (the Directive hereunder referred to as the ‘DGSD’) ...
Carey Olsen and Alter Domus advise Corten Capital on new €680 million fund The successful completion of this fundraising will allow Corten to work towards its strategy to partner with talented management teams to build market leading business software, services and data companies across Europe and North America ...
When the Second Payment Services Directive1 (‘PSD2’) replaced the First Payment Service Directive, the European Union (‘EU’) introduced the requirement of Strong Customer Authentication (‘SCA’). SCA enhances the security of electronic payments through additional layers of authentication with the aim to mitigate payment fraud ...
The Digital Markets, Competition and Consumers Bill (the Bill) completed the legislative process and received Royal Assent on 24 May 2024 and is now law. The changes introduced by the Bill include better protection for consumers in relation to subscription contracts, regulation of fake reviews, the display of ecommerce pricing information (to avoid ‘drip pricing’) and enhanced enforcement measures (including GDPR style fines) against non-compliant traders ...
With its January opinion in Raymond James & Associates Inc. v. Jalbert, the U.S. Court of Appeals for the Fifth Circuit held that the bankruptcy debtor's indemnification obligations were discharged by the confirmed plan because the indemnified party failed to speak up ...
On April 12, 2024, the China Securities Regulatory Committee ("CSRC") released a public consultation draft of theProvisions on Program Trading Management in Securities Markets (for Trial Implementation)(《证券市场程序化交易管理规定（试行）（征求意见稿）》, the "Draft Provisions") ...
Did the United States Supreme Court upend specific jurisdiction in Ford Motor Co. v. Montana Eighth Judicial District Court, 141 S. Ct. 1017 (2021)? Not quite. But the Court did rule for the first time that due process does not require a causal link between the defendant’s activities in the forum and the alleged injury to the plaintiff. This case calls into question decades of precedent in the U.S. Court of Appeals for the First Circuit suggesting otherwise ...
A guide to structured finance and securitisation in Jersey Carey Olsen is a market leader in structured finance and securitisation in Jersey. Clients of the structured finance and securitisation team include issuers, trustees, companies and global investment banks who we advise on the full range of structured finance and securitisation transactions ...
Carey Olsen advises on launch of FSN Capital's Innovative Compass Fund This Compass Fund utilises the same core processes as FSN flagship mid-cap funds, with the latest being the €1.8 billion FSN Capital VI launched in 2021. However, Compass tailors its investment approach and value creation model specifically for smaller companies ...
Carey Olsen advises Shanta Gold on £156.1 million takeover by Saturn Resources Limited The transaction saw Saturn Resources increase its offer from 13.5 pence per share to 14.85 pence per share in order to secure the required support of Shanta shareholders, resulting in the acquisition being approved by more than 80% of the Shanta shareholders who voted at the shareholder meeting to approve the scheme ...
Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section 401(a)(9) (“Required Minimum Distributions” or “RMDs”). The changes related to the RMD ‘10-Year Rule’ (summarized in greater detail below) have proven to be particularly difficult to interpret ...
Bank Accounts were reinstated after Bank failed to give justified reasons for termination under AML/CFT obligations. 1. Facts of the Case APS Bank p.l.c ...
On the 29th of April 2024, the European Banking Authority (the ‘EBA’) published an opinion (the ‘Opinion’) in which it assesses payment fraud data and identifies new types and patterns of payment fraud while developing proposals to mitigate them. In this second Payments Insight we highlight some of the most important key considerations emerging from the EBA’s Opinion ...
Two Montréal landmarks have proudly hosted some of the city?s most memorable sporting events. The Olympic Stadium and the IGA Stadium (Figures 1 and 2), which have been and remain quintessential in our sporting history, are in need of renovations so that sports fans can continue to ?raise the roof? for years to come. Figure 1: The Olympic Stadium: A prominent feature of the Montréal skyline. Figure 2: The National Bank Open at the IGA stadium ...
On April 17, 2024 the Securities and Exchange Commission (“SEC”) Division of Examinations (the “Division”) issued a Risk Alert regarding investment advisers’ compliance with amended Investment Advisers Act Rule 206(4)-1 (the “Marketing Rule”) ...
From 2 May 2024 Companies House is set to receive new powers to impose financial penalties for non-compliance with company legislation. Currently, the Registrar of Companies operates a civil penalty regime only for late filing of accounts. Under the new regulations (The Economic Crime and Corporate Transparency Act 2023 (Financial Penalty) Regulations 2024) the Registrar will be able to impose direct financial penalties for a wider range of offences under the Companies Act 2006 (CA 2006) ...
Carey Olsen advises Cuscaden Peak Investments on S$1.7 billion sale of student housing The acquisition brings Mapletree's housing portfolio to 33,000 beds across 47 cities in the UK, the US, Germany and Canada, and makes the Singapore-based real estate investor one of the largest owners of student housing in the UK ...
Carey Olsen advises Hipgnosis Songs Fund on proposed US$1.4 billion takeover The Boards of Hipgnosis and Concord Chorus Limited ("Concord") announced on 18 April 2024 that they had agreed the terms of Concord's recommended cash offer of $1.16 per share, which remains subject to shareholder approval, regulatory approval and the sanction of the Royal Court of Guernsey ...
