The DIFC has provided slightly more clarity as to how UAE Cabinet Decision 31 of 2019 (the Economic Substance Regulations, or ESR) will apply within Dubai’s financial free zone. Helpful as the guidance is, significant questions remain. The DIFC held a presentation on 17 December to discuss the Economic Substance Regulations. The first point of note was that all businesses in the DIFC must file an ESR notification by 31 March 2020 ...
As we approach the end of 2019, we look back on the requirement introduced by the Companies (Miscellaneous Reporting) Regulations 2018 (Regulations) for very large private companies to make a statement about their corporate governance arrangements. This statement relates to financial years beginning on or after 1 January 2019 and as we head into 2020, the new year will bring with it the start of the first actual reporting period under the Regulations ...
The Minister for Housing, Planning and Local Government, Eoghan Murphy TD, and the Minister for Communications, Climate Action and Environment, Richard Bruton TD, launched a public consultation on proposed revisions to the Wind Energy Development Guidelines (the draft Guidelines) on 12 December 2019. The draft guidelines, when finalised, will affect future planning applications and considerations for future wind energy development proposals ...
Data protection in the United States is about to undergo a major change, and everyone needs to be ready. The California Consumer Privacy Act (CCPA), signed into law June 28, 2018, enters into effect Jan. 1, 2020. It creates several new obligations for many United States-based businesses with regard to the collection, treatment, and sale of personal information ...
For decades, patent owners who appealed refusal of their sought-after registrations with the United States Patent and Trademark Office (USPTO) were responsible for their own costs, fees and certain expenses incurred by the USPTO (e.g. travel expenses, expert fees and copying), as required by Section 145 of the Patent Act (35 U.S.C §145) ...
The ANM, launches ANNA Mining, the digital platform will replace the Colombian Mining Cadastre and will start operating in phases. On December 13, 2019, the National Mining Agency (ANM) launched the new Comprehensive Mining Management System: ANNA Mining (ANNA), which will replace the Colombian Mining Cadastre ...
The Committee on Foreign Investment in the United States (“CFIUS”), the interagency panel at the Department of the Treasury that reviews transactions for potential national security risks, recently released the public version of its latest annual report to Congress ...
On Dec. 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of Currency (OCC) in conjunction with the Conference of State Bank Supervisors (CSBS) issued a joint statement entitled “Providing Financial Services to Customers Engaged in Hemp-Related Businesses ...
Will the release of its digital currency be China’s next salvo in its bid for world domination?One of the biggest developments in global finance has recently occurred, but not enough people are talking about it. It features technology, money and a battle between global superpowers ...
Carey partner, Diego Peralta, and associate, Vesna Camelio, contributed to the Q&A section of the Chilean chapter in the first edition of the “Foreign Direct Investment Regimes: A practical cross-border insight into FDI screening regimes”. To read the full article, click here: https://www.carey.cl/download/filebase/noticias/_notes/Chilean-chapter-ICLG-Foreign-Direct-Investment-Regimes ...
On November 5, 2019, the U.S. Department of Justice (DOJ) Antitrust Division announced the establishment of a Procurement Collusion Strike Force (PCSF) to deter, detect, investigate, and prosecute criminal schemes that undermine the integrity of the government procurement process. One of the highlights of the PCSF is to reprioritize prosecutions of cartel conduct after a several-year decline ...
The California Consumer Privacy Act (CCPA) becomes effective on January 1, 2020. As the CCPA deadline looms, businesses need to act now to be ready. In this article, we provide an overview of the CCPA, key changes to the final law, and steps businesses can take to be ready for the CCPA ...
Some are just donkeys with a horn.I will remember 2019 as the year when many unicorns were exposed as donkeys in disguise.Invoking the rarity and mystique of the mythical creature, a “unicorn” is the term the financial market coined for companies worth US$1 billion or more. The year opened with high hopes for such companies that sought an initial public offering (IPO) in the following months ...
Hackers delight in targeting U.S. companies during the holiday season triggering a year-end spike in cyber-attacks, with Carbon Black reporting a 57.5 percentincrease in attempted cyber-attacks during past holiday seasons. This year we can expect that threat actors across the globe will remain online throughout the holiday season, looking to capitalize on the distraction of the holidays and the increased internet traffic that comes with online holiday shopping ...
The era of cryptocurrencies has come: whilst they were initially used as a specific means of payment and as a source of investments other functions are now being explored, such as the possibility of cryptocurrencies being directly contributed to a company in the context of its incorporation ...
Over the past years, the Minister of Agrarian Affairs and Spatial Planning/ Head of the National Land Agency (“Minister”) has issued several regulations on location permits due to the progressive system established by the government for the efficiency of investments and licensing. After the Online Single Submission (“OSS”) system became applicable, the Minister issued Regulation No ...
The False Claims Act (“FCA”) is one of the most powerful anti-fraud weapons available to the U.S. Department of Justice (“DOJ”). It permits treble damages and makes penalties available for each false claim the defendant submitted to a federal payor. The DOJ effectively deployed the FCA against mortgage lenders in the aftermath of the sub-prime lending crisis to obtain, in some cases, billion-dollar settlements ...
The U.S. Department of Homeland Security (DHS) published a final rule on January 11, 2019, introducing electronic registration requirement for employers seeking to file H-1B cap-subject petitions. The final rule went into effect on April 1, 2019, though the electronic registration requirement was suspended Fiscal Year 2020 (October 1, 2019 – September 30, 2020) to allow USCIS to complete user testing and ensure the system and process are fully functional ...
