The Planning and Development (Amendment) (No. 3) Bill 2021 is being expedited through the legislative process. It will provide for extensions to a number of time limits, including for the passing of development plans. Importantly however it will also allow for extensions, or additional extensions, to existing planning permissions to allow projects be completed. Planning permissions have a fixed duration, usually five years ...
Dear valued clients, colleagues and friends,Our TMT Partners, Christina Kow and Timothy Siaw, have co-authored the Malaysian chapter of The International Comparative Legal Guides – Fintech 2021. The chapter covers a broad overview of common issues in fintech laws and regulations in Malaysia.The Fintech LandscapeFunding For FintechFintech RegulationOther Regulatory Regimes / Non-Financial RegulationAccessing Talent TechnologyTo read more, please click here ...
Thailand’s Securities and Exchange Commission (“SEC”) Board on 11 June 2021 approved new rules prohibiting the trading on national exchange platforms of utility tokens and certain types of ‘novelty’ cryptocurrencies such as DogeCoin, SafeMoon or MonaCoin. The Securities and Exchange Commission’s Notification No. Kor Thor. 18/2564 Re: Rules, Conditions and Procedures for Undertaking Digital Asset Businesses (No ...
The Alan Turing Institute has published a new report: "AI in Financial Services", looking to the use of artificial intelligence in the FS sector. We will watch with interest how the report’s findings evolve into more specific regulatory rules or guidance ...
There are a plethora of issues that parties need to work through to make a strategic land project viable; not least, the UK tax system which has a number of potential pitfalls that can materially impact returns. At present, there is no single tax efficient model catered for in UK legislation to enable parties to come together ...
Agricultural rent reviews have been a source of controversy within the industry for many years. After a period of 15 years or so where there was little rent review activity in the agricultural tenanted sector between the early 1990s and the mid-2000s, a sharp spike in commodity prices during the course of 2007 led to a large number of rent review notices being served ...
The court has to have regard to the “income, earning capacity, property and other financial resources that each party to the marriage has or is likely to have in the foreseeable future” (Section 25(2)(a) Matrimonial Causes Act 1973). Property and other financial resources can include expectations under a will and beneficial interests under a trust. Expectations under a will It is rare for a future entitlement under a will to be treated as a financial resource ...
In it the CSSF clarified its interpretation of the concept of lending to the “public”, an information relevant for the non-bank lending industry and, in particular, for private debt funds with a loan origination activity. Background In general terms, the granting of loans to the public on a professional basis is a regulated activity which is subject to authorisation by the CSSF under Article 28-4 of the law of 5 April 1993 on the financial sector ...
Financial ServicesBNM issues Corporate Strategic Plan policy document for DFIsOn 27 May 2021, Bank Negara Malaysia (“BNM”) issued the Corporate Strategic Plan (“CSP”) policy document, applicable to all development financial institutions (“DFIs”) prescribed under the Development Financial Institutions Act 2002 ...
On 8 June 2021, the Hong Kong Monetary Authority (HKMA) unveiled “Fintech 2025”, a new strategy aiming to drive fintech development in Hong Kong. In essence, “Fintech 2025” seeks to encourage the financial sector to adopt technology in their businesses and transactions comprehensively by 2025 by focusing on the following five key areas: 1 ...
The COVID pandemic has catalysed the decline of traditional retail as the dominant offer in our town centres. There is a growing consensus that a significant part of most town centres needs to have a greater focus on the local community, be experimental and better address local needs. Alongside this, we have the government agenda to ‘level up’ and to ‘build back better’ ...
On 22 May 2021, SPV77 Co. Ltd., a special purpose entity set up to issue and offer Siri Hub Investment Digital Tokens (“SIRIHUB”) to investors secured approval from the Securities and Exchange Commission (“SEC”) for the country’s first Initial Coin Offering (“ICO”). The first ICO approval by the SEC follows three years of legal changes starting with the passage of the Emergency Decree on Digital Asset Business Operation B.E. 2561 (2018) ...
In El Salvador, the Bitcoin Law was approved by the Legislative Assembly and published in the Official Gazette last June 9th of this year, establishing avacatio legisof ninety days from its publication; in that sense, its entry into force is scheduled for next September 7th ...
As we emerge from the pandemic, UK cities have a positive future – from the growth of digital broadcasting in Manchester to the positive future for inward investment; from what is needed to preserve our high streets to excitement around the Birmingham 2022 Commonwealth Games. The UK Cities Investor Guide is a bi-annual publication produced in partnership with EG, and tackles some of the key challenges and opportunities facing the real estate investment market ...
On 20 May 2021, The Stock Exchange of Hong Kong Limited (Exchange) published conclusions to its consultation on review of the Rules Governing the Listing of Securities on the Exchange (Listing Rules) relating to disciplinary powers and sanctions The Exchange decided to implement all the proposals in the consultation paper (see our previous client alert “Hong Kong Stock Exchange proposes to enhance disciplinary regime to deter misconduct” published in August 2020),
Commercial landlords have, in the past year and a half, dealt with many novel issues in relation to COVID-19, often on an emergency basis. Few landlords have had to deal with both public health order violations and gang crime relating to the same tenant, as in a recent decision of the B.C. Supreme Court, Ivy Lounge West Georgia Limited Partnership v. TA F&B Limited Partnership, 2021 BCSC 997 ...
On Thursday, May 27, 2021, article 2503 of the Civil Code of Québec was amended as part of the adoption of Bill 82, titled An Act respecting mainly the implementation of certain provisions of the budget speech of 10 March 2020, which we had discussedin a publication last December ...
Dinsmore's Richik Sarkar was published in Bank Director this week discussing the need for diversity and inclusion within governance structures. Read an excerpt below ...
In 2020, the pandemic disrupted the Quebec economy and the trend continued in 2021. After a difficult year for local businesses, there is an opportunity for business owners to rethink their business model as they develop their recovery plan. In this context, an initial public offering and equity financing might be a good idea ...
On 9thDecember 2020, the Central Bank of Nigeria (CBN) the Central Bank of Nigeria (CBN) issued a circular on “New License Categorisations for the Nigerian Payments System” (NPS Circular). The NPS Circular set out the different licences, their permissible activities and the share capital requirements. You may access our earlier article on the NPS Circularhere ...
On 25 May 2021, the Central Bank of Nigeria (“CBN”) issued a circular to deposit money banks, payment service providers and other financial institutions notifying them of the release of the Regulatory Framework for Non-Bank Acquiring in Nigeria (“the Framework”). In this article, our Olubusola Oyeyosola Diya examines the provisions of the Framework and considers its impact on financial service providers ...
On 21 May 2021, Hong Kong’s Financial Services and Treasury Bureau (FSTB) issued its consultation conclusions (Conclusions) on the proposed licensing regime for virtual asset services providers (VASPs). The Conclusions follow publication of the FSTB’s consultation paper of 3 November 2020 (Proposal). For details of the Proposal, please refer to our article of 24 November 2020 ...
When parents separate one question that is often asked is how long will I or my ex have to pay child maintenance for. Child maintenance Child maintenance is a regular, usually monthly payment, made by the parent with whom the children do not live (commonly known as the non-resident parent (NRP)) to the other parent (commonly known as parent with care (PWC)) ...
A question that has been posed by separated parents over the last year has been whether they will need to pay maintenance for their children for longer due to the unexpected gap year. Following the outbreak of COVID-19 there was an increase in students deferring their places at university due to start in the autumn of 2020. The number of deferrals was increased from 5.6% in 2019 to 6.3% in 2020 ...
In May 2021, the total value of cryptocurrency globally surpassed USD $2.5 trillion, and continues its emergence as a new asset class.[1] Governments in Canada and around the world are updating regulatory requirements in response to the new innovations in financial technologies. Historically, there has been regulatory uncertainty surrounding cryptocurrencies in Canada ...
