On April 13, 2021, Law No. 21,314 (“New Law”) was published in the Official Gazette, which sets forth new transparency requirements and reinforces the responsibilities of market agents, regulates pension counseling and other matters indicated therein. Article 1 of the New Law modifies Law No ...
Dear valued clients, colleagues and friends,We are pleased to bring you the latest legal updates for April 2021.Tax & RevenueIncome taxThe technical guideline Garis Panduan Berhubung Permohonan Pengecualian Cukai Pendapatan Kepada Institusi Atau Organisasi Keagamaan Yang Layak Di Bawah Perintah Cukai Pendapatan (Pengecualian) 2020 [P.U.(A) 139/2020] (available in Malay language only) has been published on 25 March 2021 on the Inland Revenue Board of Malaysia’s official website ...
The UK will host the UN’s COP26 climate change conference in November 2021, but what is a COP – and what happened at the previous 25 COPs? 15 April 2021 marks 200 days until COP26 is due to start. Taking place in Glasgow from 1-12 November 2021, COP26 is the 26th session of the Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC) ...
A new bill in the California Assembly has the potential to alter substantially the existing legal framework of products liability for online retailers. Assembly Bill No. 1182 (“AB 1182”), which was introduced on February 18, 2021, would impose strict products liability on online retailers who (1) communicate offers of sale and (2) facilitate payment between a third-party seller and a purchaser, even if the online retailer never takes physical possession of the product ...
This digest is a curated list of Bradley content regarding the coronavirus. In an effort to provide our clients with the easiest way to find information that may be beneficial in responding to the impact of COVID-19, we have provided links to our most recent blog posts, news alerts, webinar recordings and more. Additionally, this digest will now be deployed on a weekly basis in an effort to reduce the number of emails our clients receive ...
The compliant use of cookies requiring consent has presented a major challenge for website operators for quite some time. Following the ruling of the Court of Justice of the European Union in the "Planet 49" case, many operators have adapted the cookie banners they use. However, in doing so, they are faced with the difficulty of designing the cookie banners in such a way that these encourage a high acceptance rate from users, while remaining legally compliant ...
Bankruptcy courts are granted, under Section 105(a) of the Bankruptcy Code, the equitable power to “issue any order, process, or judgment that is necessary or appropriate to carry out the provisions of this title.” The reality of chapter 11 is that complex issues inevitably arise, and these issues will occasionally challenge the traditional methods and tools utilized by debtor’s counsel to craft an appropriate solution ...
On April 13, 2021, Law No. 21,314 (“New Law”) was published in the Official Gazette, which sets forth new transparency requirements and reinforces the responsibilities of market agents, regulates pension counseling and other matters indicated therein. Article 6 of the New Law amends Law No. 19,913 (“AML Act”) in the following aspects: New faculties and functions of the UAF ...
On April 13, 2021, Law No. 21,314 was published in the Official Gazette, which, among other matters, set new transparency requirements and reinforce the responsibilities of market agents (the "Law"). Relevant modifications to the current insurance regulation: Amendments to Decree with Force of Law No. 251 of 1931 ("Insurance Act"). Article 5 of the Law amends the Insurance Act, among others, in the following matters: Insurance consultation system (new Article 12) ...
On Tuesday, April 13th of 2021, a law was published in the Official Gazette that establishes new demands for transparency and strengthens the responsibilities of market agents, regulates the social security advice and other matters indicated therein, reforming, among other regulations, Law No. 18,045, on the Stock Market and Law No. 18,046 on Corporations (going forward, referred as the “Law”) ...
On March 26, 2021, the Superior Court rendered a decision dismissing a class action against the Investment Industry Regulatory Organization of Canada (“IIROC”) on the loss of personal information of thousands of Canadian investors.1 The lack of evidence of compensable injury and IIROC’s diligent behaviour are the main reasons for the dismissal of the class action. The Facts On February 22, 2013, an inspector working for IIROC forgot his laptop computer in a public place ...
On April 5, 2021, the Consumer Financial Protection Bureau (the “CFPB”) issued a proposed rule that would, among other things, establish a temporary COVID-19 emergency pre-foreclosure review period until December 31, 2021, for principal residences. Currently, the moratorium on foreclosures and evictions for Federal Housing Administration, US Department of Agriculture, US Department of Veterans Affairs, Fannie Mae, and Freddie Mac loans has been extended until June 30, 2021 ...
Banking & Finance ESAs issue joint supervisory statement on the application of the Regulation on Sustainability-related disclosures in the Financial Services Sector (SFDR) ESAs issue recommendations on the application of the SFDR ...
On April 9, 2021, the IRS released Private Letter Ruling (PLR) 202114002 (January 13, 2021), which provides additional context to taxpayers worried about whether their Fintech or Insurtech shares represent Qualified Small Business Stock (QSBS) under Internal Revenue Code (IRC) section 1202 ...
Earn-outs are a commonly used payment mechanism in overseas and cross-border M&A transactions. Through earn-outs, transacting parties can set flexible metrics to adjust the buyer’s payment obligation and thereby allocate the risks and benefits between the buyer and seller ...
The South African Supreme Court of Appeal (“SCA”) recently delivered judgment in the matter of FirstRand Bank Limited v The Spar Group Limited. The SCA held that: A customer with no entitlement to money deposited into its account and who knows that it enjoys no such entitlement, may not pay out money against the credit to the account. Doing so amounts to theft ...
The Financial Services Branch of the Financial Services and the Treasury Bureau (the “FSB”) issued a letter on 1 April 2021 to all licensed money lenders setting out the Government’s proposal to revise the statutory interest rate cap and extortionate rate for money lending stipulated in the Money Lenders Ordinance (Cap. 163) (“MLO”) ...
Gennex Media LLC, a customizable product online marketplace, and its sole officer and shareholder Akil Kurji, have agreed to an FTC consent decree resolving allegations the company falsely claimed its Brandnex novelty products were “Made in USA,” “USA MADE,” and “Manufactured Right Here in America!” when, in many instances, they were wholly imported from China ...
The advent of blank cheque company IPOs. Special Purpose Acquisition Companies (SPACs) have taken the corporate world by storm. These “blank cheque” shell companies, which raise funds in their initial public offerings (IPO) to invest in potential but as yet unidentified target businesses, have fuelled a listing frenzy in the US. SPAC IPOs have garnered US$87.9 billion in fundraising in the first three months of 2021, already exceeding last year’s total ...
The E-Sign Act was signed into law over two decades ago. To put that into context, smart phones as we know them did not exist—the most popular mobile phone in 2000 was a flip phone, the Nokia 3310, and the first iPhone would not debut for another seven years. The most popular website was AOL because many people were still using AOL as their internet service provider. Google was a fledgling company with its search engine just starting out among the mainstays like Excite and Lycos ...
In a recent article published in écho, WSG Member Astrid Wagner, Partner, IP Communication & Technology at Arendt & Medernach, provides insight on the growing risk of damage to information systems in cyber attacks and what cyber protection measures should be taken ...
On 24 March 2021, the EU Member States agreed to begin negotiations with the European Parliament concerning a legislative proposal on health technology assessment. Health technology includes medicinal products, medical devices or medical and surgical procedures, as well as measures for disease prevention, diagnosis or treatment used in healthcare ...
