Legal due diligence processes are widely known in the context ofmergers and acquisitions (M&A) and corporate reorganisation projects. Their aim is to analyse the operations and organisation ofcompanies to identify their degree of compliance with applicable legal and contractual regulations, the level of risk of non-compliance, and the potential sources of legal and contractual liability ...
Decree-Law 36/2021, which amends Decree-Law 176/2006 of 30 August ("Medicines Statute"), was published on 19 May. The new Decree-Law introduces a ban on the advertising of discounts on the price of medicines subject to medical prescription that are reimbursed by the National Health Service ("NHS") or that contain narcotic or psychotropic substances ...
On May 19, 2021, Superintendent Resolution Nº 045-2021-SMV/02 was published, apdopting the Regulation of the Financial Participative Financing Activity and its Management Companies (the “Regulation“), which clarifies the provisions of Emergency Decree Nº 013-2020 – Emergency Decree that Promotes the Financing of MSMEs, Entrepreneurships and Startups ...
Following the latest creditors’ meetings on May 12 and May 19, 2021, Kudun and Partners is pleased to announce that Thai Airways Public Company Limited (THAI)’s business rehabilitation plan and its amendment proposal has been widely accepted by the majority of THAI’s creditors ...
When corporate executives are charged with crimes, their companies often foot the bill for their defenses. Sometimes those bills can be hefty. And while companies sometimes seek to recoup the expenses when the executives are convicted, a recent decision from the influential Judge Jed Rakoff of the Southern District of New York makes clear that the criminal restitution process may not be their best approach ...
In early April as the statewide vaccination rate began to rise and major population centers across California began to see significant decreases in positive COVID cases and hospitalization rates, Governor Gavin Newsom announced that the State plans to reopen in full on June 15, 2021. As of the date of this Alert, California has one of the lowest number of COVID cases per 100,000 people and the fourth lowest number of COVID hospitalizations in the United States ...
Florida has joined a growing wave of states offering individuals, businesses and other organizations significant protections against Covid-19-related legal claims. But how does Florida’s new law — “Civil Liability for Damages Relating to Covid-19” (codified at section 768.38, Florida Statutes) — work? And what do businesses need to know — and do — now? The law’s practical effect Begin with the law’s practical effect ...
The Brazilian Secretariat of Foreign Trade, of the Ministry of Economy, published Notice nº 32/2021, initiating public consultations on the negotiations of Free Trade Agreements between Mercosur and Vietnam and Mercosur and Indonesia ...
On 3 May 2021, the EU Member states approved “dried yellow mealworms” as a novel food under EU Regulation 2015/2283. According to the applicant, mealworms can be used in a broad range of food products, such as bread, cookies, or pasta. A Commission implementing regulation will follow soon, which marks the final step and formally authorises the novel food. Mealworms are the first insect species to secure clearance as a novel food but more are likely to follow ...
Secretary of Commerce Resolution No. 485/2021, published in the Official Gazette on May 12th, 2021, regulates subsection C) of Article 7 of Law of Supermarket Shelves No. 27,545 [1], which establishes that the cheapest products per unit of measure must be situated at an equidistant height between the first and last shelf. The Resolution establishes that the value to be considered is the lowest in the price list offered to the consumer on a “non-transitory basis”, i.e ...
Since the UK left the EU there have been monumental changes to immigration law that employers should consider while planning future recruitment and team structures. The free movement of people has ended and with it comes the need for EU workers to register under the European Settlement Scheme by 30 June 2021, the Skilled Worker visa and changes to other existing routes under the points-based system and even new routes ...
Robo-Advisors (sometimes spelt as Robo-Advisers) are digital investment advisory platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. In this article our Oluwapelumi Omoniyi takes a cursory look at the Securities and Exchange Commission’s new rules on Robo-Advisors and highlights the rationale behind the move to regulate Robo-Advisors ...
Private open-ended fund companies (OFCs) in Hong Kong are subject to regulation by the Securities and Futures Commission (SFC). The SFC has taken a streamlined approach to regulating private OFCs. (I) High degree of flexibility No investment restrictions: Pursuant to the SFC’s revised Code on Open-Ended Fund Companies (OFC Code) all investment restrictions for private OFCs have been removed ...
The internet may be global, but enforcement is always local—and there are plenty of (expensive) ways to find out the wrong way that you should have been doing something where you might not expect it. A typical example is the legal requirement to appoint an EU data protection representative if you’re not based in the EU, or a UK representative if you’re not based in the UK ...
Preface On 26 April 2021, the Futures Law of the People’s Republic of China (Draft for Consultation) (“Futures Law (Draft)”) was deliberated at the 28th Meeting of the 13th Standing Committee of the National People’s Congress, and was later issued for public consultation on 29 April 2021, receiving keen, widespread interest of the domestic futures industry and the over-the-counter (“OTC”) derivatives market ...
Recently, several African startups have been making positive impact in their communities leading to a number ofcountriesenactingor planning to establish a Startup Act. In this article, our Oluwapelumi Omoniyi examines the benefits of a Startup legislation and considers if Nigeria’s nascent startup ecosystem needs a startup Act ...
We’re excited to announce that Shoosmiths is one of the partners behind Platform – a six-month campaign that aims to make town centre property more accessible to communities and businesses. Being based in thirteen locations across the UK and with many clients whose businesses rely on a successful town centre, Shoosmiths is heavily invested in the issue of urban revival ...
On April 20, 2021, Law No. 21,320 (the “ Law ”), which amends Law No. 19,496 on Chilean Consumer Protection Act (“ CPA ”) regarding extrajudicial collection proceedings and other consumers' rights was published in the official gazette. The Law, which shall be effective immediately, introduced several amendments to the CPA, regarding new principles that will inform the extrajudicial collection proceedings, new duties and legal limitations to suppliers ...
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On May 12, Schwabe collaborated with Moss Adams to host a virtual roundtable that explored legal realities around owning and operating a hemp business in Oregon. Schwabe attorneys Lisa Schaures and Joe Hobson were joined by Jacob Crabtree of Columbia Hemp Trading Company, Sunny Summers of the Oregon Department of Agriculture, and Ryan Kuenzi of Moss Adams. Our panelists discussed the evolving nature of the hemp industry at the state and federal level in Oregon ...
Living in Uncertain Times More than a year has passed since our lives were turned upside by the outbreak of COVID-19. Across the globe, millions of people have succumbed to the virus and countless businesses have collapsed. In Thailand, although the loss of life has been relatively low, the pandemic has devastated the country’s economy ...
The Federal Supreme Court of Brazil concluded the judgment of the lawsuit claiming the unconstitutionality of the sole paragraph of article 40, of the Industrial Property Law, referring to the minimum term of validity of patents in Brazil ...
The European Council has just adopted a new dual-use regulation. The new dual-use regulation is a recast of the current dual-use regulation and aims, among other things, to modernize European export controls in a number of areas. The regulation is directly applicable in all EU Member States and is expected to enter into force in 2021. In this Insight, Plesner's export control specialists outline the main changes resulting from the new dual-use regulation ...
