Businesses in the UK have for some time been subject to strict rules on misleading advertising, contained in the Business Protection from Misleading Marketing Regulations 2008 (the “BPRs”) ...
The ICSA has published new guidance on terms of reference for audit, remuneration, nomination, risk and executive committees, as well as new guidance on matters reserved for the board. The new guidance notes have been revised to reflect the updated editions of the UK Corporate Governance Code (“Code”) and FRC Guidance on Audit Committees published in September 2012 and which apply to all companies with a premium listing with reporting periods beginning on or after 1 October 2012 ...
The ABI has published a report on improving corporate governance and shareholder engagement. The report is a critical evaluation of the roles and responsibilities of the main elements of corporate governance, including: • The role of the non-executive in providing constructive challenge. • How institutional investors hold companies to account. • The relationships between, and responsibilities of, asset managers and asset owners ...
Decree-Law 2/2005 of 27 December, which approved the Mozambican Commercial Code, makes it possible for Mozambican or foreign individuals or clients to set up business in Mozambique in one of six different ways: (i) general partnership (Sociedade em Nome Colectivo); (ii) limited partnership (Sociedade em Comandita); (iii) capital and industry partnership (Sociedade de Capital e Indústria); (iv) quota company (Sociedade por Quotas); (v) single person quota company (Sociedade Unipessoal por Quotas)
On the 19th of July, CMVM Regulation no. 4/2013 on the corporate governance of the issuers of shares admitted to trading in Portugal (“Issuers”), and a new version of the CMVM Corporate Governance Code amending the code in effect since 2010 (“2013 Corporate Governance Code”), were published. Although the aforementioned CMVM Regulation no ...
Personal data regulation is a recently developed topic in the legal realm. In 1970, the first laws on the matter were issued in Europe and North America. Specifically, the first data protection law called the Bundesdatenschutzgesetz was issued in Germany on October 7, 1970, and the same year the United States Congress issued the Fair Credit Reporting Act, which controls the collection, use and redistribution of any consumer information ...
Although non-compliance with the Consumer Protection Act (the “CPA”) is generally sanctioned by the nullity of the CPA non-compliant clauses, or of the contract in its entirety, in cases involving written notices of forfeiture of the benefit of the term, the courts have sometimes decided to maintain the validity of the non-compliant notices if they were not prejudicial to the consumer’s rights. The following two judgment support this view ...
An American organization that finds itself involved in litigation in Canada, or an American attorney advising such an organization, will find most aspects of the Canadian civil justice system to be familiar. The legal systems of the two countries are comparable in many respects, they share common historical antecedents, and their core values are the same ...
The Pensions Regulator has issued revised codes ofpractice and guidance on reporting the late payment of contributions to ensure a system of effective monitoring of contributions in money purchase work-based and personal pension schemes. The revised codes, which are designed to support auto-enrolment, are expected to come into force this autumn ...
ICANN is expected to announce the first set of successful applications and list of new generic top level domains later this summer. Before the new generic top level domains can be delegated, the applications need to go through an initial evaluation phase and any objections against those applications need to be addressed. Infact, the first decisions on legal rights objections to applications for new generic top level domains were only recently published by WIPO ...
In September 2012, we reported that the Supreme Court of British Columbia had rendered a judgment1 confirming that a corporate policy imposing an advance nomination process for a shareholders’ meeting was reasonable and did not infringe the shareholders' rights relating to the election of the corporation's directors (“Advance Notice Policy”) ...
On 12 April 2013, the Indonesian Capital Investment Coordinating Body (BKPM) issued a new Regulation of the Head of the BKPM No. 5 of 2013 on the Guidelines and Procedures for Permit and Non-Permit Capital Investment (“Reg ...
Two years after the issuance of Law No. 6 of 2011 on Immigration (“Immigration Law”), its implementing regulation i.e. Government Regulation No. 31 of 2013 on The Implementation of Law No. 6 of 2011 on Immigration (“Reg. 31/2013”), was issued in order to provide further details on certain Articles of the Immigration Law. Reg. 31/2013 came into effect on 16 April 2013. Visas There are four types of visas under Reg ...
The passion Brazilians have for football is nothing new. As children, we learn the game and argue over the rules, which are often anything but black and white and, on occasion, are difficult to apply. That’s true even for referees, who, well into the 21st century, are still barred from employing the full array of technologies available to make their work easier. In contrast to other sports, the rules governing football evolve very slowly ...
An expansion strategy doesn’t always need to be M&A driven. Hunton & Williams LLP partners Robert Acosta-Lewis and Susan Failla make the case for strategic alliances. When considering expanding into emerging markets, companies often look to traditional M&A opportunities or explore possible distribution or sales representation relationships. While both of these avenues may offer potential advantages, they also carry risks and limitations ...
Recently, the United States Supreme Court issued its decision in American Express Co. v. Italian Colors Restaurant, a third opinion in what is now a trilogy of cases upholding the validity of class action waiver clauses in contracts containing arbitration agreements ...
The Federal Trade Commission (FTC) finalized amendments to formally adopt a framework regarding the voluntary withdrawal of Hart Scott Rodino (HSR) premerger notification filings and submission without an additional filing fee to allow additional time for enforcement agency review of transactions during the initial HSR waiting period ...
Decree-Law 2/2005 of 27 December, which approved the Mozambican commercial Code, makes it possible for Mozambican or foreign individuals or clients to set up business in Mozambique in one of six different ways: (i) general partnership (Sociedade em Nome Colectivo); (ii) limited partnership (Sociedade em Comandita); (iii) capital and industry partnership (Sociedade de Capital e Indústria); (iv) quota company (Sociedade por Quotas); (v)
Chambers & Partners has published its Legal Practice Guide on Corporate M&A 2013. The publication, which may be read for free online, includes two Philippine sections contributed by SyCip Salazar Hernandez & Gatmaitan (SyCipLaw): - The section on Philippine Trends and Developments was contributed by Managing Partner Rafael A. Morales and Partner Philbert E. Varona, and contains an overview of the practice, including typical structuring issues and recent developments on foreign ownership ...
In a recent bench ruling, the Delaware Court of Chancery refused to dismiss a stockholder’s complaint alleging, among other things, that a company’s board of directors had amended a stock incentive plan without obtaining stockholder approval as required by the listing rules of the New York Stock Exchange ("NYSE"). The court did so even though the company had received email confirmation from the NYSE staff agreeing that stockholder approval was not required ...
The United States Court of Appeals for the Second Circuit (the "Second Circuit") recently affirmed a broad reading of the safe harbor of United States Bankruptcy Code (the "Bankruptcy Code") section 546(e), which protects from avoidance both "margin payments" and "settlement payments" as well as transfers made in connection with a "securities contract ...
By a vote of seven justices, with three inhibiting, one absent, and four dissenting, the Supreme Court – in a decision penned by J. Perez and promulgated last June 25, 2013 – dismissed this petition for certiorari assailing the earlier Resolutions of public respondent COMELEC which ordered the cancellation of petitioner’s Certificate of Candidacy (CoC) for the position of Representative of the lone district of Marinduque ...
