ILPA’s Paper Earlier this year the International Limited Partner's Association (ILPA) published its paper "Subscription Lines of Credit and Alignment of Interests: Considerations and Best Practices for Limited and General Partners." Since then there''s been a lack of on the record industry commentary from general partners (GPs) on this paper, but it has not gone unnoticed and has triggered much discussion behind closed doors ...
On 25 May 2018, a new set of privacy rules formed by the European Union (“EU”) will take effect. The General Data Protection Regulation (“GDPR”) seeks to replace the Data Protection Directive 95/46/EC. Organisations – including many African ones – will need to make changes to their oversight, technology, processes, and human resources to comply with the GDPR ...
The UAE has issued substantive law on Value Added Tax (VAT) and Excise Tax. Federal decree law No.8 of 2017 deals with VAT. The imposition of VAT will commence in the UAE from 1 January 2018 at a rate of 5%. The VAT law provides a framework for implementation of VAT in the UAE ...
Many of us are aware of the popular myth that ostriches believe burying their heads in the sand will make them invisible to predators. In other words, an “if I can’t see you, you can’t see me” approach. Even though scientists will tell you that this is not true, the approach seems to bear a resemblance to the online behaviour of some humans ...
he office of the South African Information Regulator recently published its first draft regulations in terms of the Protection of Personal Information Act, 2013 (“POPI”), entitled “Regulations relating to the Protection of Personal Information, 2017”. The draft regulations are open for public comment until 7 November 2017 ...
Any new technology that gains universal application changes the existing world. The reconfiguration occurs imperceptibly but thoroughly. But in this new reality, how should the rule of law, values essential to the civil society and human rights be protected? A new economic reality functioning in cyberspace has arisen before our very eyes. Human activity, both positive and negative, is moving to the virtual arena that functions above and beyond state borders ...
The final Default Regulations, issued in terms of section 36 of the Pension Funds Act, were recently issued by the South African Minister of Finance. They aim to provide retirement funds with greater discretion and flexibility in relation to their default investment portfolios and annuity strategies. To comply with the regulations, many funds will need to amend their rules and investment policy statement ...
The European Court of Justice makes important clarifications relevant for dominant firms'' pricing and rebate policies in its recent Intel-judgment Introduction In recent months, the European Court of Justice (''ECJ'') delivered its long awaited judgment in the Intel appeal case. The judgment sets aside the ruling by the General Court and refers the matter back to that court ...
The financial exploitation of elders is a hot topic in state legislatures, with the federal government, and in the media. In the first few months of 2017 alone, media reports from Gadsden, Fairhope and Dothan chronicle four cases of financial exploitation, with losses in each case ranging from $20,000 to $100,000 over short periods of time. The perpetrator in each case was a family member of the victim ...
The D.C. Circuit recently rejected a qui tam relator’s attempt to dodge the FCA’s first-to-file bar by amending his complaint. United States ex rel. Shea v. Cellco P’ship, 863 F.3d 923 (D.C. Cir. 2017). The panel’s correct interpretation of the first-to-file bar stymies relators’ ability to keep copycat FCA suits in court. The relator, a telecommunications industry consultant, filed a qui tam suit against Verizon Communications, Inc. in 2007 ...
In Denmark, SKAT charges VAT on radio and TV licence fees. Households pay a licence fee to the Danish Broadcasting Corporation (DR), which then pays the VAT amount to SKAT. The VAT amount makes up 20 per cent of the total licence fee.Last year, the Court of Justice of the European Union held that it was unlawful to charge VAT on licence fees in a case concerning Czech radio licence fees ...
Today, 7 August 2017, the Independent Communications Authority of South Africa (“ICASA”) published a notice stating its intention to amend the End-user and Subscriber Service Charter Regulations.Of particular interest is the insertion of Regulation 8B, which introduces “out-of-bundle billing practices” and the “expiry of data practices”. The regulations intend to govern the validity period and roll-over of data ...
California defamation law continues to evolve as the courts synthesize well-settled legal principles with ever-changing technological realities. On July 21, 2017, California’s First District Court of Appeal issued a published opinion in ZL Technologies v. Does 1-7 (July 21, 2017) 2017 DJ DAR 6999 ...
According to the advocate general’s opinions in C-434/15 Elite Taxi and C-320/16 Uber France, Uber does not provide information society services, but local transport services which may be regulated by EU member states. It has been more than ayear since we signalled that the Court of Justice of the European Union would need to resolve the legal classification of the services provided by Uber ...
The adoption of the Federal Law No 156-FZ “On Amendments to the Federal Law "On Information, Information Technologies and Information Protection” entered into force October 1, 2017 (hereinafter the “Federal Law”). 1 ...
We would like to inform you of the recent developments of Russian cybersecurity legislation. The draft law “On Security of Critical Information Infrastructure” has passed the third (final) reading at the Lower Chamber of the Russian Parliament and has been sent to the Upper Chamber for final approval. Afterwards Russian President will likely sign the document ...
On January 1, 2019, local agencies will be required to comply with new requirements for posting agendas on their websites (AB 2257). The California Brown Act requires that any local agency must post an agenda 72 hours in advance of a regular meeting. If an agency has a website, then the agency is required to post the agenda on their website ...
Traditionally, investment decisions have focused primarily on increasing economic value. Over the past few decades, however, an investment philosophy focused on creating non-economic value by advancing social or charitable causes has become increasingly commonplace. This investment philosophy, traditionally referred to as socially responsible investing, has historically been assumed to involve the sacrifice of economic gains in furtherance of non-economic objectives ...
The Digital Economy Act 2017 introduces a new electronic communications code, intended to facilitate widespread connectivity and address some of the critical issues that currently beset the telecoms industry. The current electronic communications code was issued in 1984 and it was designed to facilitate the installation and maintenance of fixed line communications networks ...
Recent proposed amendments to the rules of Strate, South Africa’s central securities depository (the “Strate Rules”) will effect a significant change to how uncertificated securities are pledged, but will not solve all of the problems that market participants hoped would be addressed ...
On 30 June 2017, after an initial round of public commentary undertaken by the JSE Limited (“JSE”) on the proposed amendments to the JSE Debt Listings Requirements (“DLRs”), the South African Registrar of Securities Services announced that “Part 2” of the 2016 amendments are available on the Financial Services Board’s website for further public comment. The deadline to review and comment on the proposals is 14 July 2017 ...
Following South Africa’s sovereign credit rating downgrade by ratings agencies Standard & Poor’s, Fitch and, on 9 June 2017, Moody’s, as well as developments in political circles around allegations of “state capture”, relations between private business and the country’s public entities have become a hot topic ...
On Monday, the Supreme Court issued its decision in Matal v. Tam,1 a high-profile dispute implicating NFL football, Portland dance-rock, and the Lanham Act’s disparagement clause. In its eagerly anticipated decision, the Court, voting 8-0, struck down the Lanham Act’s prohibition on disparaging trademarks as facially unconstitutional under the First Amendment ...
