In two recent decisions from the BVI, the Eastern Caribbean Court of Appeal has provided useful clarity on the application and scope of the Duomatic principle. In particular, the Court addressed the evidentiary standard for establishing Duomatic assent, as well as whether the Duomatic principle gave a sole beneficial owner a "power" over which receivers could be appointed ...
Contents Legal and Enforcement Framework Blockchain Market Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? As a matter of policy, Jersey has chosen not to regulate
Contents Legal and Enforcement Framework Blockchain Market Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? The primary regulatory regime to consider in the Cayman
Contents Legal and Enforcement Frameworks Blockchain Market Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? Fintech legislation and guidance notes: The British Virgin Island
Contents Legal and Enforcement Framework Blockchain Markets Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? Bermuda has a digital asset sector specific legal and regulatory re
The European Parliament gave its final approval to the Markets in Crypto-Assets Regulation (‘MiCA’) on 20 April 2023. The regulation forms part of the EU’s broader digital financial package whose aim is to encourage the use of fintech while ensuring consumer protection and financial stability across the EU. MiCA is the first harmonised EU framework for regulating crypto-assets and is applicable across Member States without national transposition ...
On April 18, 2023, Fox News agreed to pay Dominion Voting Systems a staggering $787.5 million to settle a defamation lawsuit. Particularly startling about the settlement is that Dominion was valued at around $51 million as recently as 2018, meaning that the settlement resulted in a payout up to fifteen times Dominion’s value. Dominion filed the lawsuit in response to publicly broadcast statements by Fox News and its guests after the 2020 election ...
The Vietnamese Government issued the first-ever comprehensive legal framework on personal data for the country in the form of Decree No. 13/2023/ND-CP dated 17 April 2023, on personal data protection (“DPD”). The DPD, which will take effect from 1 July 2023, applies to agencies, organizations and individuals that are involved in the collection and processing of personal data ...
The Central Bank of Myanmar (“CBM”) published Directive No. 8/2023 on 24 March 2023 regarding further extension of the amended formula for calculating the liquidity ratio of banks in Myanmar (“Directive”). To look at this historically, the CBM had published several directives between 2020 and 2021 regarding calculation of liquidity ratio and aspects related thereto. We have briefly summarized them as under: In this Directive, CBM notes that pursuant to Directive No ...
This article looks at some of the trends we have seen in the use of interest rate benchmarks in the mid-market since the cessation of LIBOR, with a focus on sterling loans in the UK mid-market. We said a final goodbye to sterling LIBOR over a year ago, and in that time our team has acted on over £2bn worth of facilities. As we look back on the last 12 months’ worth of transactions, some trends are emerging ...
As of 17 April 2023 new creditors winding up petitions can be presented in accordance with the Insolvency (Amendment) Rules (NI) 2023. This means that the restrictions faced by creditors in filing winding up petitions will be lifted, and ultimately more companies will be open to pursual. The introduction of the Insolvency (Amendment) Rules (NI) 2023 on 13th March 2023 was awaited by practitioners, businesses and creditors ...
The full effect of the Product Security and Telecommunications Infrastructure Act 2022 is yet to be felt, despite it having received Royal Assent on 6 December 2022. Further rights will, however, come into force today, Monday 17 April 2023. Sections 58-59 of the Act grant three distinct rights to telecoms operators enabling them to upgrade and share apparatus ...
The Chilean Institute of Industrial Property (INAPI) has recently announced the possibility to apply to a program for fast-tracking patent’s and utility model’s applications, provided that said applications relate to technical solutions capable of impacting the environment positively ...
Borrowers who go through the process of obtaining an FHA-insured multifamily loan generally come to the same conclusion: the juice is worth the squeeze. At the end of the day, they get to enjoy a unique blend of benefits (35 or 40-year mortgage term, below market interest rate, etc.) that simply can’t be replicated with a conventional loan. One FHA benefit that’s been getting a lot of attention lately is loan assumption ...
We are pleased to issue our fourth edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to Investment Services and Asset Management, Company Service Providers, Insurance Undertakings, and Insurance Intermediaries ...
April 17, 2023 By: Meghna Parikh ALERT: Recent guidance from the Food and Drug Administration (“FDA”) clarifies a procedural issue for premarket submissions related to cybersecurity of medical devices and emphasizes the importance of collaboration between the FDA and medical device manufacturers. Providers using medical devices in their practice should pay attention to these rulings because they impacts the providers’ ability to educate and engage their patients ...
Contents Please click on the links below to jump to the relevant section: Overview FAQ 1: Are SPV trustees in scope? FAQ 2: What about SPVs that aren’t trustees? Do you need to have a “customer” or “third party” to be in scope? FAQ 3: I do have “customers” or “third parties” ...
The rise of ChatGPT and other large language models has been well-documented, although the technology underpinning it has been developing for several years ...
The rise of social media triggers a new suite of evidentiary issues come trial time, with authentication as the foundational question. Just as the internet has changed the world—and litigation—so has social media. In a world dominated by influencers, e-marketing, and online messaging, social media takes center stage. Thus, it is no surprise that social media is taking center stage in litigation too ...
At a time when some are demanding that artificial intelligence (AI) research and advanced systems development be temporarily suspended and others want to close Pandora?s box, it is appropriate to ask what effect chat technology (ChatGPT, Bard and others) will have on businesses and workplaces. Some companies support its use, others prohibit it, but many have yet to take a stand. We believe that all companies should adopt a clear position and guide their employees in the use of such technology ...
April 5, 2023 By: Julian Gurule Turmoil in the tech ecosystem and escalating sentiment that a recession in the U.S. might occur in the near-term, indicate that startups, their lenders, and investors may soon confront extreme financial challenges – and will force all stakeholders in a troubled venture to consider strategic options ...
Approval process The Jersey Financial Services Commission (“JFSC”) does not need to review the fund structure, documentation or the promoter. Instead the fund administrator certifies to the JFSC that the fund complies with the EF Guide and once the certification and the fund’s offer document are filed the JFSC aims for a 3 day turnaround on the application for approval ...
