In commercial real estate transactions, time is money, execution is everything and projects generally do not move forward without a mortgage loan. Lenders and their counsel should view a project as if the lender is the eventual buyer, owner and seller. For developers, considering the transaction from a lender’s point of view can save them considerable time and money and expedite loan closing ...
On October 24, the Head of Enforcement at the Securities and Exchange Commission (SEC), Gurbir Grewal, addressed the New York City Bar Association. Grewal's speech covered a range of topics, highlighting the landscape of regulatory enforcement and compliance by the SEC with three themes: education; engagement; and execution ...
In the second instalment of The Fintech Times' ‘Where to Relocate’ series, we turn the spotlight to the Cayman Islands as a VASP-friendly jurisdiction. Situated in the Caribbean, the Cayman Islands offer a unique blend of regulatory excellence, technological innovation, and a commitment to fostering the growth of digital assets ...
The SEC issued enforcement orders against three companies for including terms in their employment and separation agreements that violated Rule 21F-17(a) of the Securities Exchange Act of 1942, commonly known as the whistleblower protection rule. The rule prohibits any action that impedes an individual from communicating directly with SEC staff about a possible securities law violation ...
On October 26, 2023 the National Labor Relations Board (“NLRB”) issued a final rule on when an entity may be considered a joint employer of a group of employees. The rule was first proposed on September 7, 2022 ...
By: Adam Smith, Chris Mason, Jennifer M. Misetich, Kathryn Fox and Thomas M. O’Connell Executive Summary The National Labor Relations Board adopts a joint-employer rule that expressly incorporates reserved and indirect control over essential terms and conditions of employment, as factors to be analyzed when determining if two or more entities are joint employers ...
October 26, 2023 By: Jarrett Osborne-Revis In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as bankruptcy proceedings and receiverships – particularly for distressed commercial real estate entities – trend upward in California ...
Article 54 of the Labour Law (Federal Decree-Law 20 of 2023 on the regulations of labour relations, as amended) dealing with employment disputes has been amended to give greater powers to the Ministry of Human Resource and Emiratisation (the Ministry). The amended provision shall come into effect from 1 January 2024 ...
Beginning January 1, 2024, companies created or registered in the United States will have one year to report personal information about their owners to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury. The Corporate Transparency Act (CTA) will now require many companies in the United States to file personal information with the government on their ownership and business applicants ...
On October 16, 2023, the Division of Examinations of the United States Securities and Exchange Commission (the “Division”) published the 2024 Examination Priorities. Historically, the Examination Priorities have been published in the 1st quarter of the applicable calendar year. For 2024, the Division revised the publication date to align with the start of the SEC’s fiscal year ...
Are you an influencer? Do you earn money or other benefits by creating content on social media? Influencers that are offered deals to advertise a brand’s products over social media platforms will qualify as traders and should thus disclose their adverts in a transparent manner. Over the coming weeks, the European Commission will be screening online posts to identify any sponsored posts uploaded to social media by influencers which could mislead consumers ...
Corporate status A foundation company is a body corporate with a legal personality distinct from its members, directors and other connected persons. As foundation companies are governed by the Companies Act (Revised), except where it is inconsistent with the Foundation Company Act (2017), they benefit from an extensive body of case law and are well recognised in other jurisdictions ...
The flight to quality in the UK’s commercial real estate market has been covered extensively over recent months. Nowhere is this shift being felt more acutely than in the office sector. According to Cushman & Wakefield, take-up of Grade A office space in Central London reached 2.44m sq ft during the first half of 2023 - increasing by 7 per cent on the five-year H1 average. There are many factors driving this shift ...
Earlier in the year, we reported on the government’s announcement of increases to visa and nationality fees. These increases to application fees came into force on 4 October 2023, other than the substantial increase to the Immigration Health Surcharge (IHS) which was expected to come ‘later in the autumn’ ...
The Philippine Securities and Exchange Commission ("SEC") issued SEC Memorandum Circular No. 17, series of 2023, titled Extension of Amnesty Applications until 06 November 2023 (SEC MC No. 17-2023 or the "Circular") to grant a final extension up to November 6, 2023 for amnesty applications for late and non-filing of general information sheets ("GIS"), annual financial statements ("AFS"), as well as non-compliance with SEC Memorandum Circular No ...
Examples of ESG investments include investments in businesses such as wind farms and solar power initiatives, or in companies that meet the investor’s ESG value criteria (for example, because they have in place policies to address climate change or to ensure ethical supply chain sourcing) ...
Authority Magazine October 23, 2023 By: Eric L. Pines The legal field is known to be extremely competitive. Lawyers are often smart, ambitious, and highly educated ...
For those considering such a move, there are various options open to them to make their relocation a reality: Residency Certificate for Persons of Independent Means Certificate of Permanent Residence for Persons of Independent Means Certificate of Direct Investment Residency Certificate (Substantial Business Presence) Residency Certificate for Persons of Independent Means A person can apply for a Residency Certificate for Persons of Independent Means ...
In recent times, the financial market has been abuss with discussions about the potential benefits of real estate tokenisation. Several initiatives worldwide, such as Propchain in Dubai, Vave and Equisafe in France, Propellr, Inveniam Capital Partners, and Fluidity in the United States, as well as Elevated Returns in the United States and Thailand, have taken the bold step of launching tokenised real estate projects ...
On October 16, 2023, the Council of the Central Bank of Chile ("CBCh") published in consultation a proposal to systematize and update the exchange information requested to entities that are part of the Formal Exchange Market (the "Project"), in compliance with the regulation of the Foreign Exchange Regulations Compendium ("FERC"), together with a reformulation and restructuring of this regulatory body ...
The Securities and Exchange Commission (SEC) has implemented rule revisions governing beneficial ownership reporting under Section 13(d) and 13 (g) of the Securities Exchange Act of 1934. The SEC also elaborated on its stance concerning the conditions under which it is determined that two or more individuals have established a collective entity for the regulatory scope of Sections 13(d) and (g) of the Securities Exchange Act of 1934 ...
The unconstitutional nature of property devolving on the Government of Malta following the procedure to render a company defunct Introduction On 12 October 2023, the First Hall of the Civil Court in its Constitutional Jurisdiction delivered a landmark ruling in the case Carmel Cortis et vs. Office of the Prime Minister et ...
On September 29, 2023, the Equal Employment Opportunity Commission (“EEOC”) published new proposed enforcement guidance ("the Proposed Guidance”) on harassment in the workplace. This is the first proposed EEOC guidance on workplace harassment since the turn of the century ...
