On 20 June 2022, the Personal Data Protection Committee (“PDPC”) enacted subordinate laws complementing the data protection obligations of Data Controllers and Data Processors pursuant to the Thai Personal Data Protection Act (“PDPA”). This article highlights the following notifications: Notification of the Personal Data Protection Committee Re: Criteria for Preparation and Maintenance of Records of Personal Data Processing Activities B.E ...
On the 6th July, the Malta Business Registry (MBR) issued a circular advising all companies registered in Malta to provide it with an adequate electronic mail address in terms of the legal requirement emanating from Act LX of 2021 by not later than 30th September, 2022. In addition to it being a legal requirement, providing an electronic mail address ensures the timely service of correspondence to company officers ...
The essence of a service charge is that the landlord provides certain services and facilities for the benefit of the occupiers of a multi-let building and the occupiers collectively reimburse the landlord for those costs by paying a fair proportion of the costs of those services ...
An amendment to Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”) will be introduced to the Legislative Council for first reading on 6 July 20221, as the next step toward establishing a licensing regime for virtual asset service providers (“VASPs”) early next year ...
The regulations incoprorate requirements on occupational pension scheme trustees under at 2019 Competition and Markets Authority Order to carry out a tender process for fiduciary management services and set objectives for their investment consultants. The Occupational Pension Schemes (Governance and Registration) (Amendment) Regulations 2022 (Regulations) will come into force on 1 October ...
This was introduced on 6 April 2022 and is an essential part of the recruitment process, as this will ensure you have a statutory excuse against a civil penalty and allow you to remain compliant as your duty of sponsors if you currently hold a sponsor licence. The digital right to work check can only be made by Identity Service Providers (IDSPs) for British and Irish Citizens as physical proof of documents are expected to finish by 2025 ...
The onslaught of ransomware attacks by cybercriminals increases unabated every year, affecting everyone from mom and pop shops on Main Street to corporate lions of Wall Street. Hackers infiltrate an organization's computer network through social engineering tactics like phishing emails or by exploiting network security weaknesses, allowing vital digital information to be hijacked and held for ransom ...
The Kentucky Supreme Court’s recent decision in Estate of Worrall v. J.P Morgan Bank, N.A. demonstrates the dangers to a trustee seeking a release from liability when distributing trust assets upon termination without following the statutory requirements. In Estate of Worrall, a corporate trustee sought to liquidate the trust assets of a terminating trust and conditioned the subsequent distribution of the assets on the beneficiary signing a release and indemnification agreement ...
June 28, 2022 By: Michael Flynn* In its recent Semiannual Risk Perspective, the Office of the Comptroller of the Currency (OCC) has highlighted the difficulties banks face finding adequate numbers and quality of hires for compliance oversight. While there are several reasons for this issue, it comes at an especially inopportune time, when banks face increasing compliance demands and regulator requirements that target compliance activities and Chief Compliance Officers specifically ...
Prior to the entry into force of the FDI Screening Regulation on 11 October 2020, there was no EU-wide formalized cooperation among the Member States and the European Commission on these matters. In the EU, the European Commission’s strong expectation is that all 27 EU Member States will put national FDI screening mechanisms in place. A national screening mechanism in all 27 Member States serves to safeguard all individual Member States against potentially risky foreign investments ...
Insolvency practitioners are undoubtedly alive to the risks of ignoring or mis-handling crypto assets and the threats of misfeasance or unfair harm claims that could follow. In this, the first in a series of articles on the subject, the message is simple – the technical details might appear arcane but provided you take specialist advice, a crypto asset is no different from any other asset you come across – keep calm and carry on ...
Military action has made adjustments to the activities of the vast majority of companies in Ukraine. Unfortunately, for many employers, the issue of revising the terms of remuneration of staff in the direction of reduction has become relevant. The Law of Ukraine “On the Organization of Labor Relations in Martial Law” (the Law), which entered into force on March 24, reminded of the restriction of the constitutional right to work for the period of martial law ...
Introduction On June 24, 2022, the 13th NPC Standing Committee adopted an amendment to the Anti-monopoly Law at its 35th meeting, following the submission of a second deliberation draft on June 21, 2022. The amendment will enter into force on August 1, 2022 ...
Invitation Dear Ladies and Gentlemen, ALRUD Law Firm is honored to invite you to our webinar dedicated to the upcoming reform of personal data legislation in Russia ...
Regulation brings uniformity and security, which may feel anathema to the fundamental premise of distributed ledger technology (specifically blockchain and the nascent crypto industry blockchain technology allows) – a world that needs neither trust nor centralized authority. Nevertheless, two U.S. senators are pushing to reconcile these seemingly contrary positions and priorities ...
In the lead up to the UK COVID-19 Public Inquiry, we look at the impact the pandemic has had on the Education sector. Education has been particularly badly affected by worldwide COVID-19 restrictions, with 184 country-wide school closures, leaving 1.53 billion out of school, and impacting 87.6% of the world’s total enrolled learners1. The move to online learning One of the biggest changes for the sector was the move to remote learning ...
Since the current Electronic Communications Code was introduced in 2017, swathes of it have come under the judicial microscope and even resulted in impending legislative updates. Until now, there has been no scrutiny of the process under which telecommunications apparatus is to be removed following termination of the underlying agreement ...
In a judgment handed down on 14 June 2022 in The Federal Republic of Nigeria v JPMorgan Chase Bank, N.A [2022] EWHC 1447 (Comm) (FRN v JPMC) the court again considered the scope of the Quincecare duty and gross negligence. The decision is good news for Banks. The case related to the payment of over $1 billion by JPMorgan Chase (JPMC) to accounts held by a Nigerian company called Malabu Oil and Gas Limited (Malabu) ...
Legal directory Chambers and Partners has today launched Global LawTech 2022, ranking Shoosmiths8 Connected Services Cia® and Matters+ as band one products. This global guide is part of Chambers’ professional advisor series and is its second report on the rapidly moving legal technology sector ...
An LTAF is a UK authorised fund which offers greater flexibility in terms of assets that it can invest in than other types of UK authorised fund. It has more liquidity than more traditional fund structures such as private equity limited partnerships ...
Dinsmore partner Michael Dailey was published in Bank Director with his article "Recent Developments to Combat Redlining." Read an excerpt below. Regulators have worked on a variety of anti-redlining proposals in recent months, including a joint initiative by the Department of Justice, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency. Initial reactions to the initiative expected it to focus on the redlining seen in the Trustmark Corp ...
On 28 May 2022, the Belgian law transposing EU Directive 2019/2161 into the Code of Economic Law (CEL) entered into force (the “Omnibus Act”). The Omnibus Act aims to modernise consumer protection given the increasing development of e-commerce. In addition to new transparency obligations for online marketplaces, the Omnibus Act has new general information obligations, and new unfair commercial practices and obligations for price reduction announcements that apply to all retailers ...
On June 20th, 2022, Law No. 21,459 (hereinafter, the "New Law") was enacted, repealing the Law No. 19,223 (which regulated the former cybercrime offenses), and including several new rules to adapt our legislation to the Cybercrime Convention of the European Council, known as the "Budapest Convention", and to the necessities of a modern society ...
