On January 12, 2024, and in compliance with Law No. 21,521 (the "Fintech Law"), the Financial Market Commission ("CMF") published General Rule No. 502, with the purpose of regulating the registration, authorization, and obligations of financial service providers under the Fintech Law (the "NCG 502"). The main subjects addressed by said norm are as follows: 1 ...
Introduction The United States Trustee Program is part of the United States Department of Justice and oversees the administration of bankruptcy cases, including oversight of panel trustees. When a bankruptcy court grants a motion to appoint a Chapter 11 trustee, the United States Trustee (“UST”) is responsible for selecting and appointing the individual who will serve in such capacity ...
On January 10, 2024, the Government submitted to Congress three billsintroducing significant modifications concerning environmental regulations and sectorial permits. Bill that modifies the Law of General Bases of the Environment Through Presidential Message No. 292-371, the Executive branch presented a bill with the purpose of strengthening the environmental institutional framework and improving its efficiency, introducing amendments to the Law of General Bases of the Environment (Law No ...
By 15 February, councils must issue a final EHC plan for every child going through a phase transfer at school, i.e., from primary to middle or junior, from primary to secondary, or from middle or junior to secondary ...
In 2023, the U.S. Court of Federal Claims and the U.S. Government Accountability Office issued five bid protest decisions worthy of note: CACI -Federal v. U.S. Matter of Guidehouse Matter of Kupono Government Services LLC Myriddian LLC U.S. SH Synergy LLC U.S. This article provides summaries and discusses how these cases might shape future bid protests. 1. CACI The Facts In CACI, the protester in the U.S ...
Carey Olsen acts for Wentworth Resources plc in £61.7 million takeover by scheme of arrangement A Jersey company previously listed on the London AIM market, Wentworth has provided affordable and reliable natural gas to fuel Tanzania's socioeconomic development for the last 20 years. M&P is an oil and gas exploration and production company listed on Euronext Paris, specialising in the production of hydrocarbons ...
Jonathan Smart, head of the mobility sector at Shoosmiths, comments on upcoming trends and developments to expect in 2024 for the sector. The automotive industry is in the midst of a transformative era, marked by technological breakthroughs and shifting consumer preferences. Staying ahead of the curve is crucial for industry insiders. Let's delve into five pivotal trends that are reshaping the landscape of the automotive sector ...
State efforts to address the 340B Drug Program[1] continue to ramp up in 2024. Early this January, Kentucky Senator Stephen Meredith introduced Senate Bill 27 ("SB-27"), which intends to address a number of purchasing restrictions drug manufacturers unilaterally imposed on health care providers participating in the 340B Program ...
Please note the following press release. This press release is available at our homepage. Heuking advises AL-KO on the sale of Prinz Kinematics to Mutares A Heuking team led by Munich M&A partners Boris Dürr and Marcel Greubel advised technology group AL-KO on the sale of Prinz Kinematics GmbH to Mutares SE & Co. KGaA. The closing took place at the beginning of January; the transaction has thus been successfully completed ...
Please note the following press release. This press release is available at our homepage. Heuking advises FarmInsect GmbH on Series A funding round A team led by Alexander Weber, Heuking Partner at the Munich office, legally advised FarmInsect GmbH on its Series A funding round ...
Following an antitrust investigation, in 2017 the European Commission had fined Google LLC and Alphabet Inc. a record €2.4 billion for abuse of Google’s dominant position. In brief, it found that Google was self-preferencing, by presenting results from its own Google Shopping first upon a so called “Google search”. On appeal to the General Court, the fine was confirmed in 2021 ...
Since its enactment on July 1, 2021, the Florida Telephone Solicitation Act (FTSA) has become a significant pain point for businesses, leading to extensive class action exposure, particularly for those involved in telephonic communications. The FTSA, which initially granted consumers the right to take legal action against unwanted calls and texts, led to an influx of over 500 complaints in its first year ...
Earlier this year the government passed the controversial Strikes (Minimum Service Levels) Act 2023. Following on from this, detailed guidance has now been published for employers, trade unions and workers on the issuing of work notices. The Strikes (Minimum Service Levels) Act (Act) came into force on 20 July 2023 and attempts to alleviate the disruption caused to the public by prolonged strikes in certain sectors in the wake of recent, sustained industrial action ...
Following the recently reported hack of the US Securities and Exchange Commission (SEC)’s social media account yesterday (10 January 2024), the SEC formally announced that it had approved the launch of 11 Bitcoin ETFs in the US. As the announcement states, these approvals are not an endorsement of cryptocurrency as an “investment” or of any of the issuers of the ETFs themselves ...
Jon Bew and Wayne Gibbard, co-heads of the Financial Services Sector at Shoosmiths, comment on upcoming trends and developments to expect in 2024 for the sector. Everyone is feeling it, the rumbling of a technological storm. The immergence of generative AI, RegTech and increased fraud and cyber risk, have swept clouds of uncertainty across the Financial Services Sector… ...
Compliance Will Need Banks to explain “How the AI Systems Work” Delano Magazine Written by: Kangkan Halder Published on 24.12.2023 The growing role of artificial intelligence in processing information for legal documentation and counsel won't eliminate the need for human lawyers or ethical judgments, argue Marc Mouton and Astrid Wagner, partners at Arendt & Medernach ...
Please be informed that the Government has prolonged the moratorium on unplanned inspections of legal entities and individual entrepreneurs till the end of 20241 ...
The current exposure in the EU investment fund sector to the risks in real estate markets has been the subject of a recent publication, dated 10th January 2024, which was issued by the European Securities and Markets Authority (“ESMA”) as part of its ongoing Trends, Risks and Vulnerabilities (“TRV”) risk analysis ...
By Christina Morgan and Steve Nakasone This year alone, seven new states have passed comprehensive consumer privacy laws. Businesses operating nationwide will soon have to contend with twelve separate consumer privacy laws. A current list of the states with consumer privacy laws, and their effective dates, is below ...
In the fourth quarter of 2023, Sen. Raphael Warnock, D-Ga., made industry news, important banking and financial rule changes were implemented, and Georgia's Department of Banking and Finance quietly issued important new regulatory guidance on a handful of topics. Warnock Addresses Banking Committee, Introduces Legislation First, during a three-plus hour U.S ...
Crypto assets are a rapidly evolving and highly innovative sector of the financial industry, offering new opportunities and challenges for businesses, consumers and regulators. Crypto assets are digital representations of value or contractual rights that use cryptography and distributed ledger technology (DLT) to enable peer-to-peer transactions without intermediaries ...
On January 3rd, 2024, the Senate approved, with 32 votes in favor, the Report of the Constitutional, Legislative, Judicial and Regulatory Affairs (“the Report”), on the Bill to amend the Data Protection Law and creates the Data Protection Agency (Bulletin No. 11144-07/11092-07), (“the Bill”). However, despite the approval of the Report concerning amendments and proposals of the Chamber of Deputies, 24 of these were ultimately rejected ...
