THE BENEFICIAL OWNERSHIP REGISTER: IMPLEMENTING THE FINANCIAL ACTION TASK FORCE’S RECOMMENDATIONS ON MONEY LAUNDERING AND TERRORISM FINANCING IN NIGERIA INTRODUCTION Section 119 of the Companies and Allied Matters Act (“CAMA”) 2020, in conjunction with the Persons with Significant Control Regulations (“PSC Regulations”) 2022, requires companies, Limited Liability Partnerships (“LLPs”), and by extension, foreign exempted companies under
Recent changes to Ohio law have licensed health care professionals asking themselves when was the last time they confirmed or updated their email address, and other contact information, with agencies like the State Medical Board of Ohio, the Ohio Board of Nursing or the Board of Pharmacy? The impetus for such reflection is that Ohio licensing agencies may now serve significant legal documents exclusively through email, or a last-known fax number, as opposed to registered or certified mail thro
Guernsey investment funds update - Q4 2023 Changes to the requirements for individuals acting as a director As noted in our previous update, on 8 July 2023 new regulations to The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries Law”) came into operation, introducing additional exemptions from the need to obtain a personal licence pursuant to the Fiduciaries Law ...
Jersey investment funds update - Q4 2023 FSJL - Changes to investment business On 31 October 2023, two amendments to the definition of “investment business” (as set out in article 2(2) of the Financial Services (Jersey) Law 1998 (“FSJL”)) came into force. The amendments have been discussed extensively over the last few years via numerous consultations with industry ...
We’re entering the season of giving. Over the coming weeks, Americans across the nation will gather with family and friends to celebrate the holidays and give selflessly to the people and causes they love. Unfortunately, the Biden administration might be embracing the giving spirit a little too much. Federal officials may soon decide to give away key domestic assets — American intellectual property (IP) — to our rivals ...
On November 30, 2023, the Financial Market Commission ("FMC") issued Exempt Resolution No. 9077 (the "Resolution") which agreed to modify the category of transactions "expressed" in foreign currency, to also include those "in" foreign currency, which will be renamed as "transactions in foreign currency and expressed in foreign currency" ...
Carey Olsen named Channel Islands Law Firm of the Year at WealthBriefing Awards Independently evaluated by expert panels, these awards celebrate outstanding achievements in the wealth management sector within the Channel Islands. The awards encompass various categories, highlighting excellence among individuals, teams, products, and services catering to wealth managers, clients, and institutions of diverse sizes and types ...
A summary of the key takeaways from a recent webinar on The Covid-19 Public Inquiry - Spotlight on the Care Sector. What is a Public Inquiry? A public inquiry is a state sponsored investigation into areas of public concern. Inquiries are set up and sponsored by the government, but they operate independently of the government. All inquiries have powers to compel the attendance of witnesses or provision of evidence ...
Shoosmiths hosts a roundtable covering the partnerships model in the UK's living sector, as part of the UKAA’s Annual Build to Rent Conference 2023. As the UK’s residential market navigates economic challenges, including the impact of elevated interest rates and borrowing costs, many real estate businesses are now exploring partnerships ...
Carey Olsen's FinTech practice ranked Band 1 in Chambers 2024 Guide Carey Olsen Bermuda has advanced two positions to secure its Band 1 ranking, just six years after the office opened. The team has been commended by clients as "really knowledgeable in Bermuda law and very responsive on time-sensitive matters" ...
In the guide, Chambers notes that Simonsen Vogt Wiig is a highly respected firm in Norway with significant expertise in payments law. The firm acts for large banks and start-ups on corporate matters, regulatory compliance, data privacy and cryptocurrency issues. It has further capability in intellectual property and crowdfunding ...
In recent years, the intersection of economic openness and national security has prompted international policy development in various countries, including Norway. Concerns about vulnerabilities arising from foreign investments, particularly in security-sensitive sectors, have led to the revision of legislation and the initiation of supply chain assessments by trading partners ...
Channel Island Wills for non-Jersey domiciliaries Do I need a Channel Island Will? It is not essential for you to have a separate Will to cover your Channel Island assets especially if you already have a validly executed Will which covers your entire estate, including Jersey and Guernsey, and which is validly executed. However, there are certain benefits to having a separate Channel Island Will in place ...
What is a JPUT? A Jersey Property Unit Trust (JPUT) is a legal structure whereby legal ownership of assets (primarily non-Jersey real estate) is vested in one or more trustees who hold the assets on trust for the benefit of unitholders upon the terms of a written trust instrument. What are the benefits of a JPUT? JPUTs have many plus points: Familiarity: JPUTs are generally recognised and accepted by investors, lenders, advisers, regulators and tax authorities in the UK and elsewhere ...
Episode 7 of the Journey Through a Contract series highlights the key considerations when a business is entering into a contract with a consumer. Felicity Forward, Ayesha Chandegra and Joel Murphie provide guidance on how to identify a consumer contract, what additional protections consumers have and how the law is set to enhance consumer rights through the Digital Markets, Competition and Consumers Bill. Listen to the podcast and send us your feedback to [email protected] ...
Jersey fast-track procedure to obtain Jersey grant In order to obtain a Jersey Grant, we will require the following: The original or a Court sealed and certified copy of the British Grant and Will (if the deceased left a Will). If sending copy documents, please do ensure that both the Will and Grant are separately certified by the Court that issued the original and that each page bears the Court’s seal. A certified copy of the death certificate ...
For the first time, the CJEU has been askedto clarifythetemporal applicabilityofthe right to“appropriate and proportionate remuneration” laid down inArticle 18 ofDirective (EU) 2019/790 on copyright and related rights in the Digital Single Market(“DSMDirective”) ...
Law firms periodically receive requests for advice from CPAs regarding a client’s need to come into compliance with the relatively new and sometimes confusing “economic nexus” or “Wayfair” rules for selling goods or providing services to customers in another state ...
Probate and estate administration for non-Jersey domiciliaries Why do I need a Jersey grant of representation? Jersey is an independent legal jurisdiction for estate administration purposes ...
Wills for Jersey residents What is a Will? Jersey law treats movable and immovable assets differently for succession purposes, therefore we need to consider them separately when looking at your estate planning needs. Movable assets include things such as bank accounts, jewellery, furniture, cars, life insurance proceeds and shares (including shares in a property holding company entitling the owner to occupy a share transfer apartment) ...
Content Legal and enforcement framework Definitions Virtual currencies market Crossover with banking Technology Data security and cybersecurity Financial crime Consumer protection Competition Taxation Trends and predictions Tips and traps Legal and enforcement framework In broad terms, which legislative and regulatory provisions govern virtual currencies in your jurisdiction? Bermuda has a digital asset sector with a specific legal and regulatory regime that governs both the i
India, being a common law country, enjoys certain privileges when it comes to Trademark Law. In addition to priority rights for “first to use”, and the remedy of “passing off’’ for unregistered marks, there exists another age-old common-law right, not typically considered in global strategy - the transborder reputation of an extra territorial trademark ...
