Prior to the Amendment Prior to the Amendment coming into effect, a person carrying out investment business in or from Bermuda was required to be licensed under the IBA unless they were excluded in accordance with the provisions the IBA or exempt pursuant to the Investment Business (Exemptions) Order 2004 (2004 Order). Investment business was defined in the IBA as the undertaking of a relevant activity (i.e. dealing or advising on) in respect of an investment (i.e ...
The Royal Government of Cambodia will continue its relief measures to mitigate the economic impact of Covid-19 and support the recovery of the country’s battered tourism sector, according to an official announcement on 15 July 2022 ...
In January 2022, Thailand’s Trade Competition Commission (“TCC”) issued three merger decisions that provide important guidance on the application of Thailand’s merger regime. Pursuant to Section 51 of the Trade Competition Act B.E ...
July 20, 2022 By: Michael Flynn* Amidst its increased activity in many different areas, the CFPB recently focused on credit reporting responsibilities under the Fair Credit Reporting Act (FCRA) by issuing an advisory opinion. The CFPB highlighted and set out some specific key points regarding credit reporting responsibilities and prohibitions, and offered a reminder about criminal liability under various provisions in the FCRA ...
The United States Supreme Court’s decision in Dobbs v. Jackson Women’s Health Organization that overturned Roe v. Wade’s constitutional right to abortion has had sweeping implications that affect employers, along with the general public ...
In an effort to counteract the economic damage wrought by the COVID-19 Pandemic, Congress passed the Infrastructure Investment and Jobs Act in November of 2021. Part of that bill set aside $370 billion to improve and expand transportation, and further earmarked 10% of those funds for socially and economically disadvantaged government contractors ...
Introductory signals, according to The Bluebook, help legal writers “organiz[e] authorities and show how authorities support or relate to a proposition given in the text.” In a perfect world, The Bluebook would be easy to follow, all lawyers would use it uniformly, and there would always be a case on point. But the practice of law is rarely perfect. Consider The Bluebook ...
The National Bank of Angola (“BNA”) has approved new rules (BNA Notice 14/22 of 5 July 2022 – the “Notice”) which provide that capital operations executed by legal persons no longer require prior approval from the BNA ...
In light of the sanctions imposed, ALRUD experts have prepared an Overview of Russian Counter-Sanctions measures that have been taken in response to the actions of unfriendly countries since 24 February 2022. The overview focuses on: Russian counter-sanctions measures Liability Prospects for foreign business Recent trends in litigation and arbitration Assumptions and limitations The review is updated on an ongoing basis. Follow the link to learn more ...
Introduction The NPC Standing Committee on June 24, 2022 enacted the Amended Anti-monopoly Law, which entered into force on August 1, 2022 (the “amended Anti-monopoly Law”). This is the first time the Anti-monopoly Law has been amended since its promulgation nearly 15 years ago and is the legislative outcome of a four-year endeavor by China’s lawmakers since the revision work was formally planned in 2018 by the Anti-monopoly Commission of the State Council ...
Ohio Record-Retention Rules: How can banks defend themselves after purging account records that are essential to a future lawsuit? An Ohio customer walks into her local branch and demands access to the contents of her safe deposit box. She presents a key and a one-year lease, capable of annual renewal, from 2005. But the key not only fails to open the box – it does not even fit in the lock. And when you search for records of the lease, you find nothing ...
Mayuree Sapsutthiporn, partner and head of China practice, was invited to be a speaker at the School of Law, Mae Fah Luang University on the topic “How to Become a Lawyer: A Personal Experience from a Law Firm’s Partner” to share her career experience and professional insights with law students. The seminar was well attended by over 50 law graduate students, as well as other participants who were interested in the subject ...
Shock to UK employment world The UK employment model was turned on its head by COVID-19 and the restrictions brought in by the Government. The seismic effects of the restrictions and the speed with which they were introduced tested the adaptability and resilience of employers and employees in a way not seen previously in the UK ...
In conversation with... Our panel of experts - Nina Pindham of No.5 Chamber, Sam Grange and Will Thomas from Shoosmiths and Rhys Bradshaw from DLP Planning took a fresh look at the new "Planning" Bill and gave us their thoughts. There are many questions that many have about the new ‘Planning’ bill... Is this the final Act for s ...
The Vietnam Competition and Consumer Authority (“VCCA”) recently issued its Annual Report for 2021 (“Report”). In this Client Alert, we outline the information provided by the VCCA on its activities related to the Law on Competition (2018) (“Law”) in 2021. While not addressed in this Client Alert, the Report also outlines other activities of the VCCA during this period including in respect of consumer protection ...
A significant, temporary measure for 2022 has been introduced into the Russian merger control procedure, which may affect the regulatory approval process, in many M&A transactions, and might be specifically relevant for Management Buyouts. On July 14th, 2022, the Federal Law No. 286-FZ came into force ...
LG Electronics Inc. v. Immervision, Inc., Appeal Nos. 2021-2037, -2038 (Fed. Cir. 2022) In this week’s Case of the Week, the Federal Circuit considered how to treat a prior art reference in which the alleged teaching of a claim element would be understood by a skilled artisan not to be an actual teaching, but rather an error of a typographical or similar nature ...
Shepherd and Wedderburn was delighted to attend the Royal Highland Show after a sorely missed absence over the last two years. It was fantastic to see so many familiar faces throughout the event, and particularly on the Friday at our full capacity breakfast briefing, co-hosted with Bidwells. For those not in attendance, we would like to share the following headline insights and key takeaways ...
The UK Government published last month its annual report on the application of the National Security and Investment Act 2021 (NSIA). The NSIA came into force on 4 January 2022. The report covers the period commencing from that date to 31 March 2022, though future annual reports will cover a full calendar year. The NSIA is already having a significant effect ...
We were delighted to advise our client, the Scottish National Investment Bank, in its investment in pureLiFi, a wireless communications start-up that uses light to transmit data. John Morrison, who led the Shepherd and Wedderburn deal team with support from Ian Crombie and Sophie Bailey, said: “It is a pleasure to have worked with the Bank to facilitate this deal, which supports the roll-out of innovative communications technology and the creation of high skilled jobs in Scotland ...
Shepherd and Wedderburn would like to say thank you to our clients for providing valued and insightful feedback to Chambers and Partners High Net Worth Guide, which has awarded a Band 1 ranking to our private wealth and tax team in Glasgow and Edinburgh. This the first time our team in the central belt has been awarded the guide’s highest ranking ...
Further in their specialist series Chambers and Partners have launched this year’s guide for professional advisers to wealthy individuals and organisations, providing objective guidance on an international scale. The in-depth analysis covers trends within the private client market and has ranked the leading lawyers and law firms for international private wealth ...
Lauren Bowkett is a principal associate in the financial crime team at Shoosmiths. She has experience in providing financial crime compliance advice, including advice in relation to the Modern Slavery Act (“MSA 2015”). In this article Lauren takes us through the key features of the Modern Slavery Bill and gives her comment on the potential amendments. The new Modern Slavery Bill will seek to strengthen the Modern Slavery Act 2015 ...
