LAST JUNE WE DISCUSSED THE COURT OF APPEAL DECISION IN STONEHAVEN COUNTY CLUB1, WHICH DEALT WITH THE APPLICATION OF SECTION 139 BIA TO A CLAIM BY INVESTISSEMENT QUEBEC.2 THE COURT OF APPEAL HAS RULED ON THE SCOPE OF THIS SECTION ONCE AGAIN ...
After several delays, ICANN has published the list of generic top level domain (“gTLD” or “string”) applicants and the gTLDs they have applied for. This new initiative from ICANN will allow a wide variety of entities to act as registrars for gTLDs of their choosing. Once these systems are up and running, consumers will be able to access websites not only ending with .com or .net, but also ending with .NETFLIX, .AOL, and .PIZZA. The list can be found at:http://newgtlds.icann ...
In recent public speeches and correspondence, senior officials at the Securities and Exchange Commission (the “SEC”) have provided details regarding an examination strategy that will be applied to newly-registered investment advisers.1 Under this strategy, a new registrant may be subject to examination by the SEC as early as this coming fall. Accordingly, newly-registered advisers should be proactive and prepare to respond to SEC document and information requests ...
On 6 June 2012, the European Commission announced new crisis management measures to deal effectively on a cross border basis and in a harmonised manner with any future bank crisis ...
Contents: The Trust: An Efficient Asset Protection Tool? Amendments to the Obligations of Employers Hiring Foreign Workers – One Year Later: Are You Ready for Service Canada’s Verification? Did You Know? Trustee’s Tax Liability THE TRUST: AN EFFICIENT ASSET PROTECTION TOOL? Valérie Boucher [email protected] In the last few years, trusts have been growing in popularity among business people, including as an asset protection mechanism ...
The Registrar of Companies (ROC) has introduced an annual government licence fee of €350. The government licence fee for 2011 was payable by 31 December 2011. From 2012 onwards the government licence fee will need to be paid by 30 June of that year.Companies which are dormant and/or do not own any assets are exempt from this licence fee ...
In the great George Orwell novel “Nineteen Eighty-Four,” the Ministry of Truth is a vast bureaucracy that ironically exists to falsify historical events in the service of political ideology. Its headquarters is an 80-story building of 3,000 rooms, and its outside walls bear the words “War is Peace,” “Freedom is Slavery,” and “Ignorance is Strength ...
On the 27th of February 2012, the Montenegrin Parliament enacted amendments to the Law on Corporate Income Tax, the Law on Personal Income Tax and the Law on Contributions for Mandatory Social Security Contributions. These amendments were published in the Official Gazette of Montenegro no. 14/12 dated the 7th of March 2012 and came into force that same day.I ...
The Securities and Futures (Amendment) Ordinance 2012 ("Amendment Ordinance"), except Part 2 of which in relation to disclosure of inside information, comes into operation as it is published in Gazette on 4 May 2012. The Amendment Ordinance has introduced several regulatory initiatives which will be discussed in brief details below ...
New law regarding the use of cookies on websites was introduced in the UK in May last year. Broadly speaking, the new law requires a website owner/operator to: - tell users that cookies are used on its website; - explain to users what the cookies are doing; and - obtain users’ explicit consent to store cookies on their device. The Information Commissioner is responsible for enforcing this new law ...
On 1 March 2012, Google launched a new privacy policy by consolidating over 60 of its global privacy policies into one document. The new privacy policy does not indicate that Google will collect any new or additional data about users. What it does do, however, is inform people that Google will merge data which it already collects from services such as YouTube and Web History (which records all searches performed on Google ...
With the Information Commissioner's Office (ICO) grace period for enforcing the new cookies rules almost at an end, companies should work with their website developers at an early stage to ensure compliance. The ICO will soon be confirming that its 12 month ‘lead in’ implementation period has come to an end. Website operators then run the risk of enforcement action and fines if they fail to comply with the new cookies regime ...
Contents: Recourses Seeking Rectification Under the New Business Corporations Act; You Do Business in a Province Other than Quebec: Are You Required to Register Yourself?; Resale Prices and Authorized Distributors: a Synopsis; France Arms Itself Against Trusts ...
A trubunal has ruled that an employee was fairly dismissed for makng vulgar comment to female colleague on his facebook page while at home. A recent decision from a tribunal in Northern Ireland held that an employee was fairly dismissed because comments which he posted on his Facebook page amounted to harassment of a female colleague and was in breach of the employer’s Dignity at Work Policy ...
Over the past decade, arbitration under the Federal Arbitration Act1 (“FAA”) has been the subject of much debate and discussion among courts across the United States, including both the West Virginia Supreme Court of Appeals (“the WVSCA”) and the Supreme Court of the United States (“the Supreme Court”). Historically, the Supreme Court has ardently favored the resolution of disputes through arbitration,2 while the WVSCA has been more cautious to embrace arbitration in the place of litigation ...
The Fourth Circuit has just released its highly anticipated keyword advertising decision in Rosetta Stone Ltd. v. Google Inc., No. 10-2007 (4th Cir. Apr. 9, 2012), vacating much of a district court order favorable to Google ...
The U. S. House of Representatives overwhelmingly passed the JOBS (Jumpstart Our Business Startups) Act Tuesday, March 27, after receiving it from the Senate. The President signed the bill April 5, 2012. The JOBS Act is best known for its crowdfunding provisions, which I will address shortly, but it also is a boon to many community banks. Community banks often are formed with many investors ...
Information from Delphi’s Tax Group - The Swedish government has proposed new legislation which will entail further restrictions regarding tax deductions for interest expenses on inter-company loans. Kindly note that the proposed legislation will broaden the definition of the term "affiliated companies" ...
Bankers confront the bankruptcy world regularly. It can be a world of somewhat unfamiliar, if not confusing, concepts and terms. Unfortunately, it can also be a world fraught with risk associated with taking actions (or not taking actions) that run afoul of the rules or jeopardize the bank’s rights against the borrower. Here are a few of the “truths” that bankers need to keep in mind in the bankruptcy world. 1. The automatic stay is, well, automatic ...
A creation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. Law 111-203 (“Dodd-Frank Act”), the Consumer Financial Protection Bureau (“CFPB”) is charged with regulating consumer lending activities of financial institutions and, in partnership with state attorneys general, enforcing numerous federal consumer protection laws ...
E-DISTRIBUTION OF INSURANCE PRODUCTS: THE AMF WANTS YOUR INPUT!On February 24, 2012, the Autorité des marchés financiers (the “AMF”) published, on its website, a notice of consultation entitled Notice and Request and Comment on Internet Insurance Offerings in Québec (the “Notice”). This process follows the AMF’s analysis, initiated a few years ago, on the issues relating to e-distribution of insurance products ...
Israel’s taxation system has undergone a major reform since 2003. The Income Tax Ordinance was revised as of 2003 pursuant to which an Israeli resident is taxed on worldwide income rather than the previous territorial tax system. The Taxation of Trusts Law (the "Law"), effective as of January 1, 2006, while imposing taxes on Israeli residents with respect to trusts is advantageous to foreign residents. Israel is a major international business and financial center for non-residents ...
On December 20, 2011, President Barack Obama, Vice President Joe Biden, Deputy Defense Secretary Ashton B. Carter, and Army General Martin E. Dempsey, chairman of the Joint Chiefs of Staff, welcomed home the final group of United States troops from Iraq. After more than twenty years and two wars with Iraq, this long-awaited homecoming symbolized the end of an era for many ...
On 6 January 2012, Bank Indonesia issued Regulation No. 14/2/PBI/2012 on the Amendment to Bank Indonesia Regulation No. 11/11/PBI/2009 on Card-Based Payment Instrument Activities (“New Regulation”). The New Regulation is aimed at re-evaluating the role of credit cards as a means of payment and to promote consumer protection when using credit and debit cards as a method of payment. The New Regulation is also aimed at limiting the provision of loans through credit cards ...
Bank Indonesia has issued Regulation No. 13/25/PBI/2011 regarding The Precautionary Principle to Delegate Some Commercial Bank Work to Third Parties (“Regulation”). Under the Regulation, banks should be more selective in selecting outsourcing companies in order to maintain the level of service provided to customers ...
