On November 9, 2022, the Financial Market Commission (“CMF”) published General Instruction No. 2,325 which updates the regulations on the prevention of money laundering, financing of terrorism and non-proliferation of weapons of mass destruction (“New Instruction”) applicable to: (i) banks (including their subsidiaries and support companies); (ii) savings and credit cooperatives; (iii) and payment card issuers ...
As the regulation system on human genetic resources ("HGR"), biosecurity and laboratory animals is experiencing continuous improvement, enforcement actions of the Ministry of Science and Technology ("the MOST") have become more active and tight in recent years ...
On appeal, the trademark infringement was no longer in dispute. Still, the decision has a fundamental interest in the intellectual property legal space. The judgement deals with principal issues related to compensation claims for trademark infringement where the infringement and alleged damage merely relates to a subpart of the infringer’s ads and turnover. Norgesgjerde and Vindex (the original plaintiffs) claimed total damages and compensation in excess of NOK 10 million ...
Contents Government attitude and definition Cryptocurrency regulation Ongoing obligations Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition Bermuda has been recognised as a global leader in the regulation of blockchain and cryptocurrency-b
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The Cayman Islands is a leading global financial centre and has developed a reputation as one of the world’s most
Contents Government attitude and definition Cryptocurrency regulation Ongoing obligations Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition Bermuda has been recognised as a global leader in the regulation of blockchain and cryptocurrency-b
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The Cayman Islands is a leading global financial centre and has developed a reputation as one of the world’s most
All eyes are on the U.S. Federal Reserve as it attempts what many are calling a tightrope walk: raising interest rates just enough to slow the economy without triggering a recession in the hope of achieving an economic soft landing. With the Fed doing everything in its power to make borrowing costlier, factors are facing a similar balancing act ...
Blockchain litigation lead, Matt Green will be hosting our latest podcast series, 'In Early - The Crypto Podcast' - Listen to episode 3. During this five-part series, Matt will be speaking to special guests at the forefront of the digital asset space, telling real life stories, discussing the growth and growing pains of the industry, and exploring how blockchain technology has made an impact on people’s lives ...
pAs many of our readers know, a recurring theme in the industry is volatility and market uncertainty. Like recent quarters, the impact of inflation, Federal Reserve action, and interest rate movements continues to create uncertainty. In light of these conditions and declines in stock prices, we have observed many clients exploring less traditional ways to raise capital. Our corporate, financing, private equity and tax practices have been active in assisting in these efforts ...
Fast-growing e-commerce has changed lifestyles and invented new ways of consumption, amid which demand has rapidly increased for Internet-based medical services such as online drug sales and online medical diagnosis. Since the regulation and promotion of "Internet-based healthcare services" was included as part of the Outline of the "Healthy China 2030" Plan, China's Internet healthcare industry has been flourishing, channeled by a series of favorable policy decisions ...
Following the issuance of Prakas 003 on 26 January 2022 on the Rules for the Management, Establishment, and Functioning of Trusts (“Prakas 003”), on 3 November 2022, the Non-Banking Financial Services Authority (“NBFSA”) issued Prakas 052 regarding the Accreditation of Valuation Companies and Valuation Specialists in the Trust Sector (“Prakas 052”) in order to ensure the accuracy of the existing registered trust in Cambodia ...
A recent decision by a federal court of appeals found a New Orleans’ city code limiting short-term rentals of residential properties (such as AirBnB, Vrbo, Vacasa, etc.) to only landlords who lived inside the city was unconstitutional.In Hignell-Stark v. City of New Orleans, 46 F.4th 317 (5th Cir. Aug. 22, 2022), the Court held the city ordinance was an undue burden on interstate commerce ...
Since 2013, the National Medical Products Administration ("NMPA")Center for Drug Evaluation("CDE")has been releasing a Drug Review Annual Report ("Report")each year, which summarizes its work on drug review of the previous year ...
The Confederation of British Industry (CBI) has recently published its most recent Financial Services Survey, the results of which demonstrate the effect that Brexit is having on immigration of employees and expertise in to the UK in the financial services sector. There are an estimated 1.1 million UK jobs in the financial services sector. Historically, the sector obtained one fifth of its workers from outside of the UK ...
July was a busy month for the FCA in publishing guidance, policy and rules which have a significant impact on a firm’s relationships with its senior managers and staff. On 30 June, and towards the beginning of the “crypto winter”, Sarah Pritchard, Executive Director of Markets at the FCA gave a speech to the City UK Annual Conference entitled “Finding Opportunity in a World of Uncertainty” ...
The Pre-Insolvency Bill (‘the Bill’) is at its second reading in Parliament. The Bill is being proposed as an Act to partially transpose EU Directive 2019/1023 (‘the Directive’) on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt ...
On December 3, the U.S. Patent and Trademark Office (“USPTO”) will make a major change to how it processes trademark applications, which is anticipated to affect filing strategies, work flow, and even budgets. Brand owners in the U.S. might be wondering what they need to know about the Trademark Modernization Act’s (“TMA”) shortened office action response deadline ...
Whilst generational wealth from around the world has commonly been held, in some form, via Cayman trusts, the client base of the local trust industry has in recent years expanded greatly to include a wider range of global family offices, ultra-high-net-worth individuals, and entrepreneurs keen to take advantage of the modern and flexible options on offer ...
Shoosmiths’ specialist construction and regulatory teams have provided a detailed response to the government’s consultation on implementing the new building control regime for higher-risk buildings under Part 3 of the Building Safety Act 2022. The firm’s response draws on its expertise working with key stakeholders in the construction industry and first-hand experience of the issues that are relevant to the proposed regulations ...
On 7 October 2022, Federal Law No. 377-FZ (the “Law”) came into force. The Law granted mobilized citizens and their family members the right to receive preferential payment holidays on loans (including mortgages). Follow the link to learn more. Newsletter_Payment_holidays_for_mobilized_citizens.pdf (alrud ...
We are glad to present you a current digest of the most significant bills, regulatory changes, and measures affecting the pharmaceutical and healthcare industry for the period from June to October 2022. Follow the link to download the digest. ALRUD_Newsletter_Key_changes_in_Life_Sciences_for_the_June-October_2022_period_upd ...
Classification as a security is an omnipresent concern for issuers of digital assets. When offering or selling securities in the United States, securities must either be registered or exempt from registration ...
Does your contract contain a dispute resolution section that refers to the American Arbitration Association (“AAA”) rules, mediation and/or arbitration proceedings? If so, then you need to be aware of some changes that took effect last month. The AAA revised its Commercial Arbitration Rules and Mediation Procedures (“AAA Rules”) to update some existing rules and to add new rules ...
