After one year of processing, last October 12, Chilean Congress passed the Fintech Law initiative (the "Fintech Law"). The speed in the processing of this bill responds to the need to give legal certainty to the Fintech of companies, given their growth in recent years and their importance as a tool for strengthening the national economy ...
The window to apply for the 2023 foreign employee quota is open until the end of November 2022. Enterprises employing or intending to employ foreign employees in 2023 are required to apply for a foreign employee quota from the Ministry of Labour and Vocational Training (“MLVT”) ...
On 25 August 2022, the Minister of Communications and Digital Technologies published the Films and Publications Amendment Regulations, 2022, (“Regulations”) which came into effect on 2 September 2022. The Regulations provide clarity and guidelines regarding the implementation of the Films and Publications Amendment Act, 2019 that came into force on 1 March 2022 ...
On 14 October 2022, the Minister of Finance, Enoch Godongwana, in terms of the Financial Intelligence Centre Act, 2001 (“FICA”) made amendments to the Money Laundering and Terrorist Financing Control Regulations, 2002, which will come into force on 14 November 2022. In terms of these amendments, the prescribed amount for reporting cash transactions under section 28 of FICA to the Financial Intelligence Centre has increased from ZAR24 999 to ZAR49 999.99 ...
Weisner v. Google LLC, Appeal No. 2021-2228 (Fed. Cir. Oct. 13, 2022) In its only precedential patent case this last week, the Federal Circuit again revisited the thresholds for disposing of cases under Section 101, brought on a motion to dismiss. In a split decision, the Court affirmed the dismissal of two patents, but reversed the district court concerning two other patents, all of which shared the same specification ...
This week, BNY Mellon (“Mellon”), the nation’s oldest bank, announced it was making good on its February 2021 plan to develop the infrastructure necessary to serve as custodian for digital assets. Mellon announced the launch of a proprietary crypto custody software developed in partnership with Fireblocks, a digital asset custody, transfer, and settlement platform. With its announcement, Mellon became the first large U.S ...
Article by Anne Coulon, Regional Legal Adviser of DFDL A new specialised arbitration institution, the Thailand Court of Arbitration for Sport (“TCAS”), was set up in early October 2022 in Thailand. The creation of the TCAS was initiated by the Thailand Arbitration Center (“THAC”) in cooperation with the Sports Authority of Thailand (“SAT”) to provide services for the settlement of sports-related disputes through arbitration and mediation ...
On October 7, 2022 Federal laws No. 376-FZ and No. 379-FZ which provide supplementary guarantees for employees came into effect. Among other things, new grounds for termination of an employment contract have been introduced and opportunity and procedure for an employment contract suspension for the period of military service have been formalized ...
On the 12th of July 2022, the Malta Financial Services Authority (the “MFSA”) issued a Consultation Document on the reporting of major ICT-related incidents with a consultation period expiring on the 5th of August 2022. The MFSA worked on introducing an updated major ICT-related incident reporting process that replaces the previous process that was communicated on the 25th of September 2019 entitled ‘Cybersecurity – Threat Mitigation’ ...
The Oregon legislature passing Senate Bill 1501 in March of this year set the stage for the Oregon Department of Forestry’s (ODF’s) rulemaking process to implement a comprehensive set of changes to Oregon’s Forest Practices Act (FPA). The rulemaking process is now nearing its conclusion. ODF held hearings and informational meetings on draft rules implementing changes to the FPA stemming from the Private Forest Accord Report throughout September ...
On September 29, 2022, the U.S. Small Business Administration (SBA) issued a final rule amending its small-business size regulations to incorporate the U.S. Office of Management and Budget’s (OMB) North American Industry Classification System (NAICS) revision for 2022 (NAICS 2022) into its table of small-business size standards ...
On 30 September 2022, the Foreign Exchange Supervisory Committee (“FESC”) of the Central Bank of Myanmar (“CBM”) issued Letter No. FE-73 (23/2022) as a result of discussions held during meeting No. (53/2022). The letter has allowed fuel import entities to make repayments of financing agreements in Chinese yuan (“RMB”) in a bid to prevent delays in oil distribution to consumers in Myanmar ...
An increasing number of cases highlighting potential clashes between employees holding gender critical beliefs and the rights of other employees protected by the Equality Act 2010, leave employers having to carefully perform a balancing act of rights ...
President Biden’s Executive Order on US data transfers came at the end of last week, signalling a “dramatic step” for EU-US data relations, with knock on consequences for the UK expected. The superlatives can’t get strong enough for US data lawyers commenting on its impact. The problem Under the EU and UK GDPR an international transfer requires “adequate safeguards” to be in place ...
The morning of February 24 began as an ordinary day for IP attorneys Julia Semeniy and Yuliya Prokhoda, with planned court hearings, client meetings and routine school runs in Ukraine. But when Russia began its onslaught on the country, in an act of internationally condemned aggression, their lives changed dramatically ...
It’s hard to explain to someone who has never been accused of a crime that they cannot use their own money, and this situation could last for months. Nonetheless, an institution exerting this effect functions under Polish law and can impact both individuals and companies This institution is the freezing of accounts. In general it is used where there is a suspicion that funds in an account have a criminal origin or are related to an offence ...
On July 15, 2022, Justice François Lebel of the Court of Québec rendered a decision confirming that, in the case of the sale of immovable property, a clear and unambiguous exclusion clause, whereby the warranty is waived at the buyer?s risk, results in a break in the chain of title preventing the buyer from taking any legal action under such warranty against the seller and previous sellers ...
On October 7, 2022, the White House released its National Strategy for the Arctic Region, further developing the federal government’s approach to the northernmost region, which is under intergovernmental purview. The document is an update to a policy released in 2013, and is intended to express the federal government’s “affirmative U.S ...
The Guernsey Financial Services Commission (“GFSC”) has published its Guidance for CIS on measures to counter the risk of greenwashing (“Guidance”) which applies to all collective investment schemes which are authorised or registered under the Protection of Investors (Bailiwick of Guernsey) Law, 2020 and to those responsible for preparing the prospectuses and other marketing materials of such schemes ...
It has been a little over a year since the Financial Action Task Force (“FATF”), an international initiative established to combat money laundering published its Mutual Evaluation Report (“MER”) on South Africa in which it identified major “weak spots” in our compliance processes. The FATF gave the country a deadline of February 2023 to remedy all the deficiencies or face possible grey listing ...
In Ismail v Life Entabeni Hospital, the Commission for Conciliation, Mediation and Arbitration (“CCMA”) had to decide whether an employee had been unfairly discriminated against on the basis of her religion as a result of the employer’s “bare below the elbow” policy (“BBE policy”) which did not permit the wearing of long sleeves by those employees working in general wards and the ICU ...
‘Coming out’, whether as lesbian, gay, bisexual, transgender, or queer, absolutely still matters. With changing societal attitudes and the recent courageous public announcements of two professional footballers, it is hoped that it is getting easier. Nonetheless, workplace statistics still show that LGBTQ+ employees do not openly voice their sexuality and/or gender identity at work through fear of discrimination and harassment ...
S African countries grapple with the measures necessary to meet their nationally determined commitments (“NDCs”) under the Paris Agreement, it is critical to be primed to attract sustainable finance, and for central banks and regulators in each country to create a fertile environment for this redirection of capital ...
On 7 October 2022 the President of the Russian Federation has signed Federal Law No. 387-FZ 'On Amendments to Article 52 of the Arbitrazh Procedure Code of the Russian Federation and Article 45 of the Civil Procedure Code of the Russian Federation'. The Federal Law comes into force on 18 October 2022 ...
