On January 31, 2022, the Financial Market Commission (“FMC”) opened a public consultation process (the “Regulatory Proposal”), in order to simplify the registration process in the following registries, and the ongoing reporting obligations of entities registered in those registries: Registry of Foreign Reinsurance Brokers. Registry of Foreign Securities. Special Registry of Reporting Entities ...
Key Points SB 343 regulates use of “chasing arrows” recycling symbol; AB 1201 extends composting regulations to all products including home compostable claims. Food manufacturers face public and private enforcement risks. SB 343 – Truth in Labeling for Recyclable Materials SB 343 amends existing law that makes it unlawful to use any misleading environmental marketing claims on product packaging. Specifically, SB 343 amends Public Resources Code Section 42355 ...
A recent IRS concession bodes well for how the tax treatment of proof of stake validators may develop through case law. On December 20, 2021, the IRS offered a full refund to the plaintiffs in Jarrett et al v. United States for taxes paid on tokens created through proof of stake on the Tezos blockchain in 2019. In a statement released February 3, 2022, Joshua Jarrett confirmed the decision to seek an IRS ruling in the cryptocurrency case, rather than accept the tax refund ...
As the Czech government signed off on the EU “Green Deal”, which aims to cut carbon dioxide emissions to zero by 2050, the Czech Republic needs to find ways to achieve this goal, or at least to get close to it ...
Investing in India can be challenging in view of the myriad of laws at both the Central and State level, as well as cumbersome sector specific requirements. Many-a-times, foreign investors tie up with Indian promoters to overcome these hurdles. However, difficulties get amplified when they get embroiled in litigation / arbitration with Indian promoters over issues related to mismanagement, control, earn-out payments etc ...
U.S. Citizenship and Immigration Services (USCIS) released guidance on the FY2023 H-1B lottery process. Despite attempts to change the structure of the lottery selection process, the Service announced that it would continue with a random-selection lottery for 2022. The registration system will be open from 12 p.m. ET March 1, 2022 until 12 p.m. ET March 18, 2022. The application fee will continue to be $10 for each case entered into the system ...
Background On February 4, 2022, Law No. 21.420 was enacted, which reduces or eliminates the indicated tax exemptions thereof. This law seeks the financing of the new Guaranteed Universal Pension (PGU) in a sustainable way over time, including a series of amendments to the Mining Code, among others. Modifications Exploration Mining Concession The duration of the concession is increased from 2 to 4 years, eliminating the possibility of requesting an extension ...
When the family team at Shoosmiths is instructed to advise on international child abduction we are very much aware that the parent left behind is often living a real-life nightmare. The situation usually involves our client’s child(ren) having been abducted by the other parent and being retained in a foreign country, or there being a serious risk that the other parent is about to abduct the child(ren) from this country to somewhere overseas ...
The Scottish courts recently refused assistance under the UNCITRAL Model Law on Cross-Border Insolvency when a request for a stay on actions in Scotland was made by a Foreign Representative appointed under a Singapore moratorium procedure. Dr Hamish Patrick, Partner in Shepherd and Wedderburn's banking and finance team, has recently published an article on this case in International Corporate Rescue ...
I’ve had a number of queries recently about agricultural tenancies where a partnership is the tenant rather than an individual. This can often give rise to problems and I thought that it would be worthwhile spending some time looking at some of the issues that can arise and how they might be resolved. First of all, in Scots law, a partnership is a separate legal person in its own right quite distinct from the individual partners in the partnership ...
The UK Government has put forward for approval by Parliament a new safeguard mechanism for international transfers, known as the International Data Transfer Agreement (IDTA), that will impact organisations transferring personal data out of the UK. If approved, the IDTA will apply from 21 March 2022, and we would encourage affected organisations to review their data transfer processes now ...
The Norwegian Data Protection Authority has notified Stortinget of an infringement fine of two million kroner and imposed an infringement fine of four million kroner on Østre Toten municipality. In both cases, the Authority emphasizes that it is a clear management responsibility to secure the business against such attacks, and that two-factor authentication, awareness-raising and an appropriate risk and vulnerability analysis are key measures ...
Key Points Before a party may sue to seek a refund of allegedly excessive property-related fees, like municipal water rates, their pre-suit Government Claims Act presentation must “fairly describe” each way in which the fees violated Proposition 218, or risk dismissal. Proposition 218 does not apply to penalties that water agencies impose on customers who fail to timely pay water bills. Do not overlook the Government Claims Act ...
A Los Angeles Police Department Captain was en route to a homicide scene when he received a radio call for a robbery in progress. The Captain noticed a patrol car parked in the alley near the robbery location which was not responding to the call; the Captain assumed it was a traffic car on a different radio frequency, and decided to respond to the call himself. As he was arriving, he saw the patrol car back up and leave the area ...
Key Points As of January 1, 2022, skilled nursing facilities are not limited to hiring licensed nurses to fill the role of infection preventionist. California still requires the total time dedicated to the infection preventionist role be full-time. In January 2021, Assembly Bill (AB) 2644, codified as Health & Safety Code Section 1255 ...
U.S. Citizenship and Immigration Services (USCIS) released guidance on the FY2023 H-1B lottery process. Despite attempts to change the structure of the lottery selection process, the Service announced that it would continue with a random-selection lottery for 2022. The registration system will be open from 12 p.m. ET March 1, 2022 until 12 p.m. ET March 18, 2022. The application fee will continue to be $10 for each case entered into the system ...
Only 180 days after the close of the Tokyo 2020 Summer Olympic Games, the world gathers again for the opening ceremony of the Beijing 2022 Winter Olympic Games. In honor of the celebration, we are resharing our quick guide of key things to keep in mind if you want to cheer on competitors at the Olympics as a business over the next few weeks. Whether you are an Official Sponsor or not, you should feel confident participating in the conversation ...
GLIMPSES OF UNION BUDGET 2022 With the economy riding on the twin waves of rapid economic growth and increased tax collections, the Union Budget for 2022-23 was presented by the Hon’ble Finance Minister on February 1, 2022. A wide gamut policy and tax matters were outlined by the Minister in her speech, many of which found its way into the Finance Bill. We have put together the key takeaways for direct tax and indirect tax from the Union Budget. Trust this would be helpful ...
On 13 January 2022 UK and India launched negotiations for a free trade agreement. Intended to provide net benefits to businesses, not all will benefit from the agreement. This article identifies some topics that business may wish to raise with government ...
The much-anticipated levelling up white paper has finally been published, including 12 legally binding ‘missions’ to improve health, living standards, transport, crime and wellbeing by the end of the decade. When it comes to the devolution of powers to help to realise these outcomes, rather than marking a radical departure from earlier policy, the white paper advocates a continuation of the devolution process in England ...
The phrase ‘national security’ is at the heart of but not defined in the National Security and Investment (NSI) Act 2021. There are some insights from related legislation and other sources, but the absence of definition means there is legal and consequently business uncertainty. From 4 January 2022 when the NSI Act 2021 came into full effect, the meaning of national security became crucial to M&A activity concerning the UK ...
Regulation (EU) 536/2014 of the Parliament and of the Council of 16 April 2014 on clinical trials on medicinal products for human use (“Regulation”) came into force on 31 January 2022. The Regulation was adopted by the European Parliament in 2014 and released in May of the same year. It was subsequently officially published in the Official Journal of the European Union on 31 July 2021 and came into force six months after that date ...
On December 25, 2021, the federal government passed proposed regulations that, as the name implies, prohibit (or restrict, in some cases) the manufacture, import and sale of certain single-use plastics that pose a threat to the environment. Provided that such regulations are adopted, the government intends for them to come into force as early as the end of 2022 ...
