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Practice Industry: Financial Services, Insurance, Technology
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MinterEllison | October 2018

Following a short period of public consultation, the Telecommunications and Other Amendments (Assistance and Access) Bill 2018 (Cth) (Bill) has been introduced into Parliament. Despite the extensive public concerns raised with the Exposure Draft version, only a small number of amendments have been made to the Bill. Following extensive submissions and much debate, the 'decryption Bill' has now been introduced into Parliament ...

Dinsmore & Shohl LLP | October 2018

The Ohio Supreme Court yesterday reversed the decision of a lower court of appeals and held that a general contractor is not entitled to insurance coverage for property damage arising out of its subcontractor’s faulty work, even when the general contractor purchased a CGL insurance policy with a rider pertaining to coverage related to a subcontractor’s faulty work ...

Dinsmore & Shohl LLP | October 2018

The Ohio Supreme Court yesterday reversed the decision of a lower court of appeals and held that a general contractor is not entitled to insurance coverage for property damage arising out of its subcontractor’s faulty work, even when the general contractor purchased a CGL insurance policy with a rider pertaining to coverage related to a subcontractor’s faulty work ...

Heuking | October 2018

Many companies are currently facing challenges in relation to the GDPR compliance of their video surveillance. Main issues in this respect are questions related to transparency requirements and information notices, the need for a data protection impact assessment as well as questions concerning retention requirements and retention periods. The German Federal Labor Court (BAG) has recently commented on the admissible storage duration of lawful video recordings ...

Dinsmore & Shohl LLP | October 2018

As seen in Bank Director  Strategic planning is one of the most important roles of a financial institution’s board of directors. Since the 2008 financial crisis, financial institution boards have dealt with the emergence of fintechs as a primary consideration in developing their strategic plans ...

Haynes and Boone, LLP | October 2018

A new round of U.S. tariffs on $200 billion in Chinese imports became effective on September 24, 2018.1 The 10 percent tax on Chinese consumer products is only the latest escalation in an ever-widening trade war between the United States and its global trading partners. While it appears that, subject to Congressional approval, trade disputes between the U.S ...

Haynes and Boone, LLP | October 2018

A new round of U.S. tariffs on $200 billion in Chinese imports became effective on September 24, 2018.1The 10 percent tax on Chinese consumer products is only the latest escalation in an ever-widening trade war between the United States and its global trading partners. While it appears that, subject to Congressional approval, trade disputes between the U.S ...

Jeantet | October 2018

France has taken steps to set up a dedicated frame for cryptocurrency transactions aiming at conciliating legal certainty, market integrity and innovation. Capitalizing on best market practices, a recent bill defines an optional visa regime for ICOs, while a report commissioned by the French government sets forth principles of minimum regulations. Taxwise, the French Administrative Supreme Court has just ruled in favour of investors in Bitcoins ...

Morgan & Morgan | October 2018

In the framework of a globalized world and social networks that are established as a measure of possible interest of economic, social and political groups, data protection regulations become more relevant ...

GrahamThompson | September 2018

It is fair to say that we are in an era of unprecedented multilateralism and convergence in tax matters. The Bahamas has already committed to the implementation of the Common Reporting Standard, having already signed onto the Multilateral Competent Authority Agreement and published its list of exchange partners with automatic exchanges that commence in September 2018 ...

GrahamThompson | September 2018

My time is short, so let me get to my subject without delay.I begin with a few observations on the Reality we face.First, the bad news - not all of it, just some of it; just four things that I regard as being among the more worrisome realities that confront us today.Firstly, in terms of aggregate dollar volume, we are a much smaller industry now than we were just a few years ago ...

Shepherd and Wedderburn LLP | September 2018

Scotland is currently home to one of the largest life science clusters in Europe, with more than 700 organisations based here employing some 37,000 people. With 15 universities producing highly skilled graduates; the NHS as a massive single source of patient data; and world leading research centres in life sciences, Scotland attracts some of the brightest international scientists and life science businesses ...

Lavery Lawyers | September 2018

Over the past few months, our Legal Lab on Artificial Intelligence (L3AI) team has tested a number of legal solutions that incorporate AI to a greater or lesser extent. According to the authors Remus and Levy1, most of these tools will have a moderate potential impact on the legal practice. Among the solutions tested by the members of our laboratory, certain functionalities in particular drew our attention ...

Haynes and Boone, LLP | September 2018

On September 11, 2018, the Securities and Exchange Commission (“SEC”) announced its first enforcement actions alleging that entities offering certain investments in cryptocurrencies should be registered as an investment adviser or broker-dealer ...

Morgan & Morgan | September 2018

Morgan & Morgan opened its first offices in The Bahamas since 1991. We created MMG (Bahamas) Ltd. as a corporate service and later on, in 1996, founded MMG Bank & Trust Ltd., which started our financial unit´s successful path into the financial service industry ...

ENS | September 2018

As we have written in a number of previous articles1, National Treasury, together with the Prudential Authority and the Financial Sector Conduct Authority, has recently rolled out various pieces of legislation to bring South Africa closer to compliance with its G20 commitment to regulate over-the-counter (“OTC”) derivatives in South Africa. Detailed requirements are now being harmonised, including through proposed amendments to existing legislation ...

ENS | September 2018

Over the past year, South Africa has seen some significant changes impacting its commercial financial landscape. On the regulatory front, there has been an overhaul of the financial sector regulatory framework, including the implementation of the “twin peaks” model of regulation, comprising the Prudential Authority and the Financial Sector Conduct Authority (“FSCA”) ...

Heuking | September 2018

The General Data Protection Regulation (GDPR) also affects the working relationship between the employer and the works council. Among other things, it affects the use of works agreements as legal basis, the (possible) responsibility of the works council under data protection law, as well as the controlling authority of the company data protection officer over the works council. WORKS AGREEMENT AS INFORMATION PURSUANT TO ART ...

Basham, Ringe y Correa, S.C. | September 2018

The General Provisions referred to in Article 58 of the Law to Regulate Financial Technology Institutions (“Fintech Law”), Circular 12/2018 addressed to the Electronic Payment Funds, relative to the general provisions applicable to the operations of the Electronic Payment Funds and the General Provisions applicable to the Financial Technology Institutions (“Fintechs”), were published in the Federal Official Gazette (Diario Oficial de la Federación) on Septembe

Haynes and Boone, LLP | September 2018

On September 10, 2018, the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valoresor “CNBV”) issued the general provisions applicable to Financial Technology Institutions (“FTIs”) (Disposiciones de Carácter General Aplicables a las Instituciones de Tecnología Financiera) (the “CNBV Provisions”), which, as of March 10, 2018, are regulated by the Law that Regulates Financial Technology Institutions

Hanson Bridgett LLP | September 2018

As we reported in our May 31, 2018 Alert, the California Legislature has been considering legislation to prevent joint powers authority (JPA) member agencies from contracting out of liability for the JPA's pension obligations ...

Haynes and Boone, LLP | September 2018

Although Hurricane Lane’s substantial weakening from a Category 5 storm as it approached land likely spared Hawaii a disaster, the storm still caused much harm. Areas of the Big Island got inundated with well over three feet of rain, causing landslides and major road closures, and high winds stoked brush fires on Maui, burning 2,300 acres of land, damaging multiple homes, and forcing hundreds of evacuations ...

Hanson Bridgett LLP | September 2018

Following the enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act, the Securities and Exchange Commission (SEC) has adopted an amendment to Rule 701(e) increasing the threshold amount of securities that can be sold during a 12-month period from $5 million to $10 million. Securities sold in excess of the threshold trigger enhanced disclosure obligations for the issuer ...

TSMP Law Corporation | September 2018

It’s crazy. It’s real. It’s awry. A secretly, stupendously rich man falls in love with a poor girl. His mother declares her a gold-digger. Much gnashing of teeth ensues. Beyond its simple rom-com plot, however, the film Crazy Rich Asians has a less palatable aspect to its story: inequality and our apparent acceptance of it ...

Hanson Bridgett LLP | August 2018

The Internal Revenue Service has released a Private Letter Ruling ("PLR") allowing a plan sponsor to make contributions to employees' 401(k) accounts if the employees are repaying student loans. This is exciting news for employers sponsoring 401(k) plans who hope to attract and retain employees as student loan debt rises to unprecedented levels. The PLR confirmed that some student loan repayment programs linked to 401(k) employer contributions are acceptable ...

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