On Oct. 25, 2021, the Department of Labor (DOL) issued Field Assistance Bulletin No. 2021-02 (the Bulletin). In the bulletin, the DOL revised and extended the temporary enforcement policy related to the DOL’s Fiduciary Rule/Prohibited Transaction Exemption 2020-02 (the DOL Fiduciary Rule) ...
On Oct. 25, 2021, the Equal Employment Opportunity Commission (EEOC) updated its technical guidance for employers addressing questions regarding religious objections to employer COVID-19 vaccine requirements and how those requirements interact with federal equal employment opportunity (EEO) laws ...
Earlier this month, The Institute for Policy and Engagement at the University of Nottingham ran an in-depth virtual conference discussing the need for action on the issues surrounding predatory marriage. Speakers included Daphne Franks from the Justice for Joan campaign. Daphne’s mother Joan was married by a predator some years her junior without her family’s knowledge while suffering with dementia and despite Daphne having been appointed as her attorney ...
The home of Robin Hood, Lord Byron and Boots, Nottingham is a city with a rich history and cultural heritage. It is also ambitious, forward looking and has a bright future. With a plan to become the UK's first carbon neutral city, it also has a unique opportunity to reimagine large swathes of the city with the following developments ...
On 13 October 2021, the China Securities Regulatory Commission (CSRC) issued an Announcement on the Participation of Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors in Financial Derivatives Transactions (Announcement, available here in Chinese) ...
On 30 September 2021, the Government passed into law the Securities and Futures (Amendment) Ordinance 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Ordinance 2021 (the Ordinances). These new laws will enable foreign investment funds to be re-domiciled and registered in Hong Kong as open-ended fund companies (OFCs) or limited partnership funds (LPFs). The Ordinances will come into effect on 1 November 2021 ...
Hong Kong’s Securities and Futures Commission (SFC) held two virtual briefing sessions in October 2021 and provided useful guidance on its newest climate-related risk management requirements for fund managers, as detailed in the Consultation Conclusions on the Management and Disclosure of Climate-related Risks by Fund Managers (with amendments to the Fund Manager Code of Conduct (FMCC)) and the Circular issued on 20 August 2021 ...
The appointment of provisional liquidators by the Cayman Court is a powerful and valuable tool in the right circumstances. However, in a series of recent cases, the Court has underscored the high hurdles that must be met and emphasised that an order to appoint liquidators must always be viewed as a serious step that requires a heavy and onerous evidential burden on those who seek such orders ...
Banks were cast as the villain of the piece in the so-called ‘Great Recession’ of 2007–2009, the last downturn to hit our economy before the coronavirus pandemic. Their role in the subprime mortgage debacle led directly to a global financial crisis and the deepest UK recession since the Second World War. By contrast, in the economic downturn triggered by the COVID-19 pandemic in 2020, the banking industry played a crucial role in stabilising our economy ...
In a major change for arbitration in Dubai, the DIFC-LCIA Arbitration Centre has been abolished. On 14 September 2021, Decree No. 34 of 2021 (Decree No. 34) was issued by Mohammed bin Rashed Al-Maktoom, Ruler of Dubai. It not only dissolves the Dubai International Financial Centre Arbitration Institution (DIFC-LCIA Arbitration Centre), but also the Emirates Maritime Arbitration Centre (EMAC) ...
Marks & Spencer breached a court order to enforce a “keep-open” provision in one of its leases, when it carried on business only in a “half-hearted” manner ...
Freeports are obviously of immediate interest to importers, exporters, and manufacturers, as they allow the import of materials and manufacture or incorporation of those materials into items which are then exported, all without incurring tariffs and with minimal regulation. The government’s stated objectives in establishing Freeports were to establish national hubs for global trade and investment across the UK, promote regeneration and job creation and create hotbeds for innovation ...
On October 23, 2021, a second draft amendment to the Anti-Monopoly Law of the People’s Republic of China (the “Draft Amendment”) was issued for public comments following its review at the 31st meeting of Standing Committee of the 13th National People’s Congress (the “NPC”, the Chinese legislature). The public comment period ends on November 11, 2021 ...
The National Privacy Commission (“NPC”) issued on 7 October 2021 NPC PHE Bulletin No. 21 advising the public against smishing and preventive data privacy practices. Smishing targets victims through mobile text messaging or SMS. Individuals usually receive unsolicited messages that include links that redirect to fraudulent websites which steal personal data, introduce mobile malware, and even facilitate the commission of fraud ...
Revitalizing Brownfields has long been considered a centerpiece for community efforts to encourage growth and development of properties impacted by contamination. In 2021, Oregon’s Legislature passed HB 2518, which seeks to enhance Brownfield development by making forgivable loans available to assist with the cleanup of blighted properties ...
It is imperative that companies with government contracts, or those receiving federal grant funding, ensure that they have adequate cybersecurity protocols in place. The announcement by the Department of Justice (DOJ) of the Cyber Fraud Initiative strongly signals its intent to be aggressive in holding government contractors with lax cybersecurity standards and controls accountable ...
The draft bill to implement the government’s ground rent changes finally reached the House of Lords in May 2021. This legislation had been long awaited and, largely, the provisions were as expected following the earlier consultations and government announcements and discussions. Despite the fact that legislation is still only in draft, the living sector is already pivoting in many respects to comply with the legislation ...
There has been much in the media about the impact of the pandemic and the government response on children’s education, but arguably that impact has been magnified for those children and young people with Special Educational Needs and Disabilities (SEND). The Coronavirus Act 2020 The Coronavirus Act 2020 temporarily amended and extended deadlines for certain Local Authority duties towards children with SEND under The Children and Families Act 2014 ...
Author(s) Senior Partner, Nishant Menon and Associate, Nikhil Bhatia The Supreme Court of India on 6th August 2021 in Amazon.com NV Investment Holdings LLC v Future Retail Limited & Others handed down a seminal decision in relation to enforcement of an Emergency Arbitrator’s (“EA”) award. The ruling has great significance as it furthers India’s mission of being a pro-arbitration State where there is greater ease of doing business ...
The Renewed Proposal On Oct. 14, 2021, SEC Chairman Gary Gensler released a statement announcing the SEC would once more open comment on the Dodd-Frank Act rule regarding clawbacks of incentive-based compensation that had been improperly awarded due to since-corrected accounting errors. Should a company not comply or refuse to institute a compensation recovery policy, the SEC proposal goes so far as to threaten delisting ...
The Transparency Act requires that enterprises covered by the Act shall carry out and account for due diligence assessments in accordance with Section 4 and Section 5 and answer specific requests for information pursuant to Section 6 and Section 7 ...
Whether you are a property professional or otherwise, you would have had to have lived in a hole to have missed the EWS1 saga. In the four years following the tragic Grenfell disaster, the industry and the government have been grappling with how to deal with a generation of potentially defective tall buildings ...
Energy drink giant Red Bull recently received some negative press for issuing a cease and desist letter to Norwich-based gin maker Bullards for the use of the word ‘bull’ in its brand name. The case is a useful reminder that brand owners should make sure that their brand protection strategy reflects the organisation’s wider brand values ...
On 14 September 2021, the Thai cabinet passed a resolution (“Cabinet Resolution”) proposed by the Centre for Economic Situation Administration (“CESA”) to incentivize foreign investment in Thailand through the issuance of new visa, tax, and foreign land ownership incentives. The CESA particularly aims to attract high net worth foreign nationals, who wish to invest in land and buildings, and who can meet these minimum qualifications: 1 ...
October 19, 2021 By: John Epperson EPA released its plan for actions to address PFAS contamination on October 18, 2021. This is an aggressive and wide-sweeping plan that reaches across multiple statutory authorities. Much of the Roadmap will require regulatory rulemaking to implement, providing the regulated community an opportunity to get involved and shape the final rules ...
