Domestic extremism is not new, but heightened law enforcement scrutiny in the wake of the Capitol riots has added yet another layer of complexity to the jobs of already challenged AML compliance professionals and investigators ...
On 26 January 2021, the Central Bank of Myanmar (the “CBM”) issued Notification1/2021 (the “Notification”) outlining the requirements and specifications for the establishment, operation and business activities of non-bank financial institutions (“NBFIs”). This Notification is effective from 26 January 2021. 1 ...
The Government of the UAE made another milestone announcement on 30 January 2021, announcing a procedure for the granting of citizenship to foreign nationals in a bid to retain talent in critical sectors and to expand and diversify the economy. Nationality and citizenship in the UAE are governed by Federal Law No. 17 of 1972 Concerning Nationality and Passports, as amended by Federal Law No. 10 of 1975 and Federal Decree-Law No ...
Bradley’s Government Enforcement and Investigations Practice Group is pleased to present the False Claims Act: 2020 Year in Review, our annual review of significant False Claims Act (FCA) cases, developments and trends. Despite the pandemic and the smallest recoveries for the Department of Justice in over a decade, FCA enforcement remains robust. As always, the healthcare industry remains the most frequent subject of FCA cases and investigation ...
Changes to the off-payroll working rules for private sector organisations originally planned for April 2020 will now come into force from 6 April 2021. As a result, large and medium sized organisations engaging contractors through an intermediary will have various responsibilities and potential liabilities ...
For the time being, there are no specific laws governing the use of artificial intelligence in Canada. Certainly, the laws on the use of personal information and those that prohibit discrimination still apply, no matter if the technologies involved are so-called artificial intelligence technologies or conventional ones ...
Aron Beezley of Bradley Arant Boult Cummings LLP outlines the Justice Department's noteworthy procurement fraud recoveries for fiscal year 2020. The Department of Justice (DOJ) recently announced1 that it obtained more than $2.2 billion in False Claims Act (FCA) settlements and judgments in the fiscal year ending September 29, 2020 ...
An Eleventh Circuit panel has breathed new life into a long-running, $248 million False Claims Act (FCA) qui tam case, United States ex rel. Bibby v. Mortgage Investors Corp.,[1] reversing the district court’s grant of summary judgment for the defendants.[2] Materiality lay at the heart of the case, which involved allegations that the defendant finance companies misled the U.S ...
On January 22, 2021, the Federal Official Gazette published Resolution No. 55, by means of which the National Mining Agency (“ANM”) amends Resolutions No. 28/2020 and 46/2020, which deal with the suspension of deadlines of certain procedural and material acts under its competence, and the extension of the terms of mineral titles, due to the current COVID-19 pandemic ...
In recent years, Russia has focused on regulating its IT area. In particular, this has been needed due to the increasing number of cases, when prohibited information has been distributed on various large Internet resources, such as a social network. However, according to Russian government agencies, despite the risks of possible sanctions, many foreign companies still do not respond quickly enough to government requests, or ignore the demands to remove prohibited information ...
The information listed below is categorized by topic for your convenience and includes content from the previous week. Bradley is actively monitoring and engaging with relevant federal, state or local entities on issues related to the coronavirus. Please contact one of the authors if you have any questions. Click on a link below to view the full article, alert, blog, webinar recording or interview ...
Northern Ireland Mark Blair Partnerships between the public and private sectors have had a big impact in Northern Ireland, and could potentially achieve more. Shoosmiths collaborated with Insider on a series of virtual roundtables across our regions to discuss how processes could be improved, where funding could come from and what successful collaboration could achieve. To read the report from the Northern Ireland debate, please click below ...
I. Banco de Portugal Communication of Banco de Portugal on the Synopsis of Behavioural Supervisory Activities - first half of 2020. Communication of Banco de Portugal on the imposition of a capital reserve on institutions identified as “other systemically important institutions”. Banco de Portugal Communication on the Economic Bulletin of October 2020. Communication of Banco de Portugal on the implications of Brexit ...
A new Angolan Public Procurement Law (“PPL”) has been approved recently. Law 41/20 of 23 December revokes Law 9/16 of 16 June and will enter into force on 22 January 2021. The new law will apply to all public procurement procedures beginning after that date and to the performance of subsequent contracts ...
On January 25, 2021, President Biden signed the Ensuring the Future Is Made in All of America by All of America’s Workers (Made in America) Executive Order, which not only directs that federal government purchases and procurement go to American businesses and workers, but also calls out the Jones Act for specifically endorsing the nation’s vessels, ports, and merchant crews ...
All indications are that the evolution of privacy laws and their impact will continue to evolve, perhaps even at a greater pace, in 2021. In celebrating Privacy Day, January 28, 2021, we would like to share four things businesses should be keeping their eyes on, and planning for, in 2021. 1. Significant changes to privacy legislation in Canada. Canadian federal and provincial governments have tabled and proposed sweeping changes to privacy laws in Canada ...
To boost the economy post-Brexit the government is committed to establishing up to 10 freeports across the UK. In our latest freeport bitesize article, we look at some of the planning implications of which bidders and bid participants should be aware. Back in August 2019 the UK Government announced plans to create ten new freeports that would be free of “unnecessary checks and paperwork, and include customs and tax benefits” ...
On 27 November 2020, The Stock Exchange of Hong Kong Limited (SEHK), the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) agreed to expand the scope of eligible stocks traded under the Shenzhen-Hong Kong Stock Connect and the Shanghai-Hong Kong Stock Connect (collectively, Stock Connects) to include eligible A-shares listed on the SSE’s Sci-Tech Innovation Board (Star Market) as well as eligible pre-revenue biotech companies listed in Hong Kong ...
Hong Kong’s Legislative Council’s Panel on Financial Affairs discussed tax concessions for carried interest in its meeting on 4 January 2021, following the publication of a discussion paper by the Financial Services and the Treasury Bureau (FSTB). The FSTB’s paper sets out proposals to offer a zero percent concessionary tax rate for eligible carried interest distributed by eligible private equity funds operating in Hong Kong ...
On 4 December 2020, Hong Kong’s Securities and Futures Commission (SFC) published its Consultation on proposals to (1) implement an investor identification regime at trading level for the securities market in Hong Kong and (2) introduce an over-the-counter securities transactions reporting regime for shares listed on the Stock Exchange of Hong Kong (Consultation). The Consultation paper is available here ...
On 18 December 2020, the Securities and Futures Commission (SFC) issued a public consultation paper (Consultation) on proposed amendments to the Code on Pooled Retirement Funds (PRF Code). The proposals are part of the SFC’s holistic review of the PRF Code following the revision of the Code on Unit Trusts and Mutual Funds (UT Code) which was implemented in 2019 ...
On 20 January 2021, the Securities and Futures Commission (SFC) and Thailand’s Securities and Exchange Commission (SEC) signed a Memorandum of Understanding concerning mutual recognition of Covered Funds and Covered Management Companies and related Cooperation (MoU)establishing a bilateral framework for mutual recognition of publicly offered funds (MRF) between Thailand and Hong Kong ...
