Bradley attorneys Aaron Chastain, Lee Gilley, Riley Key, Jonathan Kolodziej, and Robert Maddox authored Chapter 11: Debt Collection Practices in the publication of Consumer Finance Law: Understanding Consumer Financial Services Regulations. A global pandemic, ensuing economic decline, and mandated changes from the Dodd-Frank Act have provided greater challenges and opportunities in the consumer markets resulting in rapid change in the regulatory environment for businesses ...
Earlier this month, Elon Musk revealed that Tesla, the electric car company run by the world's richest person, had bought $1.5bn (£1.1bn) in bitcoin and might soon also accept payment in the popular but controversial cryptocurrency. News of Tesla’s investment boosted bitcoin, and while lately it dropped from its record high, it appears to be rebounding. Cryptocurrency investment continues to move into the mainstream as global interest rates remain at record lows ...
On 8 February 2021, The Securities and Futures Commission (SFC) published a consultation paper on (i) the proposed code of conduct on bookbuilding and placing activities in equity capital market (ECM) and debt capital market (DCM) transactions (Proposed Code) and (ii) the “sponsor coupling” proposal (together, the Proposals) ...
This bulletin is on recent Philippine legal developments in data privacy, fintech and digital banks. PRIVACY UPDATE Caring about Sharing: New Rules on Data Sharing Agreements On December 23, 2020, the Philippine data privacy regulator, the National Privacy Commission (NPC) issued NPC Circular No. 2020-03 on data sharing agreements (2020 DSA Circular).1 The circular supersedes NPC Circular No ...
The Inland Revenue Board of Malaysia (Revenue)’s press release of 13 January 2021 announced the Revenue’s implementation of centralisation and dispersal of tax files for taxpayers of certain categories, with effect from 1 January 2021 ...
Bradley attorneys Aron Beezley and Nathaniel Greeson highlight the administrative bid protest landscape in New York given the state's abundant acquisition economy. New York state's budget is the second largest in the country, and with it, New York has some of the most developed state acquisition laws and procedures in the country. Accordingly, New York provides comparatively robust bid protest rights when it comes to state-level bid protests ...
The HKMA published a report titled “AML/CFT Regtech: Case Studies and Insights” highlighting the opportunities that Regtech offers to transform the effectiveness and efficiency of Anti-Money Laundering and Counter-Financing of Terrorism (“AML/CFT”) efforts, and sharing end-to-end approaches which worked in real-life examples ...
The FSI has published the BIS’s research paper titled “Fintech regulation: how to achieve a level playing field” in February 2021 (the “Paper”). The Paper explores how regulation should evolve to encourage fair competition between traditional banks and new fintech and big tech players ...
ASIFMA, together with the Future of Sustainable Data Alliance, published a paper entitled “Data Challenges and Opportunities for ESG and Sustainable Finance in Asia Pacific” – a result of a year-long review of sustainability data challenges facing the industry in the Asia Pacific ...
In its most recent issue, For The Defense published an article by Dinsmore partner Richik Sarkar’s called "The Amicus Brief: An Efficient And Elegant Public Policy Tool." The article examines how, when properly employed, an amicus brief can be the best tool to effect lasting change for the benefit of the amicus and similar parties, industries, and legal interests. An excerpt is below ...
The objective of open banking is to have a payments and markets infrastructure which provides customers with the ability to review all their banking and financial information seamlessly. Open banking will lead to a situation where regardless of how many accounts and financial products a customer has with multiple institutions, he can manage them from a centralised location without having to check out from one system to another ...
Post-Brexit, it’s now even more important for farming families to understand how changes to direct payments and valuation of farmland can affect succession, asset protection and family disputes. We explain what you need to know. Leaving the EU resulted in the UK leaving the EU’s Common Agricultural Policy (CAP), which paid farmers direct payments and has been a significant source of income for many farmers ...
As mentioned in our article published on 3 April 2020, the deadline for compliance with the Securities and Futures Commission’s (SFC’s) circular of 8 July 2019 on new measures to protect client assets (Circular) was extended to 31 January 2021. With these new measures in place, intermediaries are now required to obtain confirmation from authorised institutions (AIs) (i.e ...
On 23 December 2020, the Securities and Futures Commission (SFC) updated its Frequently Asked Questions (FAQs) relating to Open-ended Fund Companies (OFCs) on matters related to custodians and the custody of assets and records of the OFC. Appointment of multiple custodians Under the Securities and Futures Ordinance, all scheme property of an OFC must be entrusted to a custodian of the OFC for safekeeping ...
On 5 February 2021, financial authorities in Mainland China, Hong Kong and Macau, including the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC), China’s State Administration of Foreign Exchange (SAFE), Hong Kong’s Securities and Futures Commission (SFC), the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macau (AMCM), jointly signed a memorandum of understa
Did you know? China’s new patent law, which comes into effect on 1 June 2021, will significantly change the design patent regime and will see the introduction of partial design protection, the extension of the design patent term from 10 years to 15 years and the acceptance of domestic Chinese design patent filings as a basis for priority ...
The VAT domestic reverse charge - referred to below as the reverse charge - is a major change to the way VAT will be collected in the building and construction industry. The reverse charge regime will come into effect on 1 March 2021 and will in many instances require customers receiving building and construction services to pay the VAT due directly to HMRC, instead of paying the supplier. This is a fundamental change to the way in which VAT is administered on construction contracts ...
On 12 January 2021, the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency (“MOA”) issued Regulation No.1 of 2021 on Electronic Certificates (“MOA Reg. 1/2021”). This new regulation is intended to optimize the use of information and communication technology by implementing electronic-based land services and thus improve public services and the ease of doing business. Under MOA Reg ...
Social bonds, which raise funds for new or existing projects seeking to address social issues, continue to soar in popularity among investors – but how is “social bond” designation achieved? The primary criteria for social bond designation is established by the United Nations Sustainable Development Goals (UNSDG) ...
DISPUTE RESOLUTIONWide order of injunction sought against online marketplace operator refused in the High CourtE-commerce has become an indispensable part of the country’s economy particularly with the Covid-19 pandemic. With its growing demand come legal challenges which are novel to Malaysia.Recently, our Dispute Resolution Partners K ...
Following last week’s FHFA announcement extending the Fannie Mae and Freddie Mac foreclosure and eviction moratoria and their deadlines for applying for COVID-related forbearance, the White House announced on February 16 that FHA, VA, and USDA will extend their single-family residential foreclosure and eviction moratoria, and their deadlines for applying for COVID-related forbearance, to June 30, 2021 ...
We've become familiar with the Met Office issuing “traffic light” warnings about potentially disruptive weather. Couples contemplating divorce or separation could face similarly rough going when it comes to their tax affairs, especially Capital Gains Tax (CGT) when property or a business is involved. The alert level right now would be considered “amber” - think before you separate as you might not be able to complete a settlement in time for this tax year ...
