The key issue before the formal body of advisers to the UK sovereign was whether the trustee of a settlement “exercised for a proper purpose” an express power contained in the trust deed to add and exclude discretionary objects, having added a purpose trust as an object and removed all family members comprising the entire class of objects. The Background The trust settlors were two brothers who founded Formosa Plastics Group, one of the largest business conglomerates in Taiwan ...
Legal service providers (LSPs) in Bermuda are encouraged to contribute to the development and implementation of new and existing legislation in response to the ever-evolving needs of their clients ...
The recently released Rose Review progress report 2023 found that female founders defied a challenging economic climate to build more new businesses last year than ever before. The data insight and tracking that built on the inaugural findings of 2019, discovered that women-led companies had used ‘innovation and entrepreneurialism’ to tackle higher inflation and macroeconomic uncertainty to launch over 150,000 new companies in 2022 – more than twice as many as in 2018 ...
‘Flexibility becomes the norm as businesses look to build resilience in their real estate portfolio and workplace strategy.’ That is the key takeaway from Colliers’ recently released Global Occupier Outlook 2023 report, which found that two-thirds of corporate occupiers active in EMEA anticipate that up to 20% of their commercial real estate portfolio will move from traditional leases to flex leases within the next five years ...
"Leave this to me, I'm British… I know how to queue."{1} The Energy Services Operator (ESO) recently published a consultation which sets out a vision of medium-term reform for connections to (or affecting) the Transmission Network, whether they are directly connected or embedded ...
Labour party donor and entrepreneur, Dale Vince, has put the spotlight back on the controversy surrounding the tax treatment of carried interest received by private equity fund managers, by instructing The Good Law Project to serve a “pre-action protocol” letter on HMRC seeking judicial review of its practice of taxing such carried interest as capital gains as opposed to income ...
Figures published in May by the Department for Business and Trade (DBT) record a further decline in Trade Union membership in the UK. Comparable data is only available as far back as 1995, but shows a clear decline over that nearly 30-year period to a level where, as at 2022, the proportion of UK workers in a union has declined to 23.1% - the lowest figure recorded in that time period ...
The economic landscape continues to place mortgage customers under significant pressure. Following discussions between the Financial Conduct Authority (FCA) and some of the largest mortgage lenders in the UK, the Mortgage Charter was signed to address measures aimed at helping customers who may be struggling to meet their mortgage repayments amid the cost-of-living crisis ...
In Industrial Tribunal case number 3642/CCG, the applicant claimed that he had been subjected to discrimination, lack of equal pay, a breach of the grievance procedure under the collective agreement, lack of payment of a performance bonus and constructive dismissal. Firstly considering discrimination, the applicant argued that he was not allowed to avail himself of a career break to work with a company operating in the financial services industry ...
Who qualifies as a Politically Exposed Person? Politically exposed persons (or “PEPs”) are individuals who have been entrusted with a prominent public function ...
While it may be arguable whether the announcement of the next phase of the UK’s open banking programme was as highly anticipated as the grand finale to HBO’s Succession, for the payment services industry a clear route to the future is much needed ...
With less than a month to go until the Consumer Duty comes into force on 31 July 2023, it is crucial that businesses are asking themselves the proper questions, reflecting on the right things, and having the honest discussions to ensure that they can maximise the remaining days left before the 31 July 2023 deadline ...
Zoltan Balazs Kovacs prepared a summary to the key questions regarding the EU Whistleblowing Directive and the related change of legislation in Hungary with the act entering into force on 24 July 2023. 1 ...
Introduction The sphere of asset tracing and recovery, particularly the extent of tools available around the world, is rightly attracting more attention in cross-border fraud and investigations. This includes projects at the international level, such as UNCITRAL's ongoing efforts (for which the author acts as an expert), as well as attention being given in national legislatures around the world ...
‘Quiet quitting’ is a trend that has emerged in recent years where people stop going above and beyond in their daily work. They do not actually quit their job, but simply perform the bare minimum in favour of a better work-life balance. There are several reasons which might motivate an individual to start this process and experiencing menopausal symptoms is, understandably, fast becoming one of them ...
On Monday, June 26, 2023, the International Sustainability Standards Board (ISSB) issued the first two global sustainability standards: IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2, Climate-related Disclosures. These standards are intended to improve confidence in the sustainability disclosures made by companies to guide investment decisions ...
As part of Rail Safety Week 2023, Health and Safety specialist Hayley Saunders looks at personal liability and how employees across all levels of a business can make a difference by positive individual contribution to workplace culture. Below is a summary of key takeaways from the webinar. Responsibility for workplace safety rests with employers and employees alike ...
SEC Issues Regulations to Implement Financial Consumer Protection Act On 25 April 2023, the Securities and Exchange Commission ("SEC") issued Memorandum Circular No. 5, series of 2023 and adopted the SEC Rules and Regulations of the Financial Products and Services Consumer Protection Act of 2022 ("SEC FCPA IRR") to implement Republic Act No. 11765 (the Financial Products and Services Consumer Protection Act ("FCPA") ...
It is often acknowledged that, like fine wine, some things get better with age. However, the same is not always true of trust deeds – particularly those that may have been drafted using a mechanical typewriter or require service of notices by Telex. While families grow and evolve, legislation is regularly revised and expanded upon and technology continues to develop at an incredibly fast pace, trusts often remain unchanged ...
ChatGPT, an artificial intelligence program, has grabbed wide attention since its first introduction to the public. It has become the fastest-growing consumer application in history with more than 100 million monthly active users. People are amazed by its ability to respond intelligently to complex queries. ChatGPT is only one of the many AI tools that are being developed and used in various industries to improve efficiency and customer service ...
Latin Counsel Consortium Legal, one of the leading legal firms in Central America, announces the evolution of its brand as part of its commitment to continuous improvement and staying at the forefront of the market. With the largest legal team in the region, Consortium has always been committed to excellence and innovation to provide the best service to all its clients ...
Joseph Raczynski joins Paul Caddy to discuss horizon-gazing and what the future might hold. Joseph is a leading technologist and futurist. He speaks globally on subjects like blockchain, artificial intelligence, cryptocurrency, the Metaverse, NFTs and cybersecurity. Joseph hosts Technology Snippets Today a video podcast series which explores cutting edge technology and innovation ...
