The Tax Cuts and Jobs Act ("TCJA") provides new exclusion and deferral benefits for investors who purchase interests in qualified opportunity funds. Much like qualified small business stock ("QSBS") under IRC sections 1202 and 1045, new IRC section 1400Z-2 allows investors to defer and, in some cases, exclude gain on the sale of assets. However, gain can be deferred under IRC section 1400Z-2 only if invested in designated low-income communities ...
The 10thedition of the Forum (14th– 15thJune, Park Hyatt), titled The Future of Law: Technology and Legal Services in South East Europe: 2018-2028, was held with great interest among over 150 delegates and speakers from 30 countries from five continents including, beside the European countries, Jamaica, USA, Singapore and Australia. Borislav Boyanov, Managing Partner of BOYANOV & Co ...
With the recent enactment of Bill 165, An Act to amend the Highway Safety Code and other provisions1, the driving of autonomous vehicles in Quebec is finally regulated, although a number of uncertainties remain. Indeed, the driving of autonomous vehicles of automation level 3, such as Tesla’s model X equipped with an improved guidance system, is now permitted in Quebec ...
The drastic changes in the media landscape made over the past years continue to rock the traditional TV sector. Family TV is being replaced rapidly by content online, on demand and on different mobile devices. The global internet video share by consumers is expected to increase from 64% in 2014 to 80% by 2019 (according to Cisco Visual Networking Index: Forecast and Methodology, 2016–2021) ...
On 6 July 2018 the Government published a statement following on from Theresa May’s Cabinet meeting and Brexit debate at Chequers, the Prime Minister’s country residence. The statement outlined the Cabinet’s collective stance and the next steps to be taken in respect of the Brexit negotiations. However, many critics have already called the Chequers statement a “compromise” position and argued that the statement seems to be advocating a “soft Brexit ...
In 2016, South African National Treasury introduced an exemption from securities transfer tax (“STT”) for listed securities that are transferred outright (as opposed to pledged) as collateral, provided that such transfers adhere to a number of conditions that were outlined in the definition of a “collateral arrangement” in the Securities Transfer Tax Act, 2007 ...
South African tax resident individuals may consider, whether for estate planning purposes or otherwise, to advance funds to offshore trusts for investment abroad. The South African tax implications arising from the terms of the loan funding arrangement with the offshore trust should, however, also be taken into account ...
In a recent judgement the Court of Justice of the European Union (CJEU) concluded that an administrator of a Facebook fan page has independent obligations under European data protection law, and will be considered joint controller with Facebook for some processing activities ...
The Communications Decency Act (CDA)—the law Congress enacted in 1996 and confirmed this past year to shield online publishers from responsibility for the speech of others—gives internet platforms the right to publish the ideas and opinions of third-party users without being held liable for that content or being forced to remove it.[1] In the closely watched case ofHassell v ...
As Seen In Bank Director Cybersecurity incidents and data compromises continue to plague financial institutions on a seemingly daily basis. Without a proper response plan in place, financial institutions risk significant damage to their reputation and operations, as well as serious potential liability from regulators and class-action litigation. This guide outlines the procedures financial institutions should implement to prepare for and respond to a cybersecurity incident ...
As rapid technological changes in the 21st century continue to expand the types and volume of private electronic information, the Fourth Amendment’s privacy protections are evolving. Originally, “Fourth Amendment jurisprudence was tied to common-law trespass” and provided protections against searches of property. See, United States v. Jones, 565 U.S. 400, 405 (2012) ...
After not disturbing the Third-Party Doctrine for more than 40 years, the Supreme Court created a significant exception to it inCarpenter v. United States. Slip Op., 16-402 (Jun. 22, 2018). Under the Third-Party Doctrine, individuals who voluntarily provide personal information to third parties are deemed to relinquish their legitimate reasonable expectation of privacy in that information ...
In a unanimous vote on June 28, 2018, California lawmakers enacted a landmark, first-of-its-kind data privacy law that is intended to give consumers greater control over how their personal information is collected, stored, and sold by companies with whom they do business ...
Artificial intelligence technologies are extremely promising in healthcare.1 By examining, cross-referencing and comparing a phenomenal amount of data.2 AI lets researchers work more quickly at a lower cost3 and facilitates doctors’ decision-making with regard to diagnosis, treatment and choice of prescription. The integration of AI into the healthcare field can take various forms:4 Management of electronic medical records (e.g ...
Despite its coming into force in 2001, the courts have frequently avoided commenting on the application and interpretation of the Act to Establish a Legal Framework for Information Technologies1 (hereafter the “LFIT Act”), preferring instead to rely on the provisions in the Civil Code of Québec2. In the decision of Benisty v. Kloda3, judge Jacques J ...
Should The Bahamas be at the forefront of cryptocurrency regulatory policy by implementing smart, flexible regulation that encourages the legitimate operators in the sub-sector to bloom or should we leave well enough alone?The Bahamas’ position in the landscape of the cryptocurrencies is a familiar one to many in the traditional financial services economy - they’ll know this story all too well with the growth, development, and decline of private banking: a new and exciting innovation
In 1527, two inhabitants of the Royal Burgh of Haddington lent 1800 merks to the Abbey of Melrose, to be repaid by the Abbey to their bankers, in what is understood to be the first recorded reference to bankers in Scotland. Fast-forward almost 500 years to the present day and modern banking would be unrecognisable to the burgesses of Haddington ...
Introduction I have been asked to speak on the Base Erosion Profit Sharing of the OECD, or better know as BEPS. This is a new acronym that, similar to CRS and the harmful tax initiative program, is geared at a multilateral approach to the application of uniform tax rules and standards. Unlike the CRS and the harmful tax practices initiatives of the past, BEPS has a focus not necessarily on the private client, but on the multinational commercial organization ...
Privacy is Dead - But we never wanted it anyway, muses Adrian Tan. Over the past few weeks, our inboxes were bombarded by emails about privacy. Companies wrote to us, in a state of panic, because of the General Data Protection Regulation. That is a new European Union law that recently came into force. Among the many things that the GDPR does is to regulate the export of personal data outside the EU ...
The California Legislature is considering legislation that would, if enacted, prohibit public agencies that form a Joint Powers Authority (JPA) from contracting out of liability for the JPA's pension obligations. Backed by CalPERS, AB 1912 was introduced early this year partly in response to drastic CalPERS pension cuts for former employees of LA Works, a dissolved job-training JPA ...
In the Loop: With the Hanson Bridgett Government Group We’ve been getting lots of questions from public agencies about the General Data Protection Regulation—known as GDPR. GDPR is a new European Union privacy law that governs the processing of personal data about people residing in Europe. It just went into effect on May 25 ...
Recent changes to Rule G-34 (the Rule) of the Municipal Securities Rulemaking Board (MSRB) will include an exception to the CUSIP requirements for certain direct purchase transactions with a bank or related entity (Direct Purchase Exception) ...
Artificial intelligence has undergone significant developments in the last few years, particularly in respect of what is now known as deep learning.1 This method is the extension of the neural networks which have been used for a few years for machine learning. Deep learning, as any other form of machine learning, requires that the artificial intelligence system be placed before various situations in order to react to situations which are similar to previous experiences ...
