In late November 2018, the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) of the Dubai International Financial Centre (DIFC) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) announced that they had reached agreement on facilitating the licensing of domestic funds by each authority for promotion across the UAE. This is a potentially significant development ...
As of 31 December 2018, the Central Registry of Ultimate Beneficial Owners was established within the Serbian Business Registers Agency (the “Registry”), in line with the Law on Ultimate Beneficial Owners (“Official Gazette of the RoS no. 41/2018). In addition, the Ministry of Economy issued guidelines which provide more information on the implementation of certain aspects of this Law (the “Guidelines”) ...
The U.S. Department of Homeland Security (DHS) has announced it will issue a new Final Rule on January 31, 2019, reversing the order by which the USCIS will select H-1B applications submitted under the statutory/numerical cap and introducing an electronic registration requirement for employers filing H-1B cap-subject petitions. The reverse-selection provisions of the rule will go into effect on April 1, 2019 ...
On Friday, January 25, 2019, California Attorney General Xavier Becerra’s Office held the fourth of its six public forums in connection with its rulemaking process for the California Consumer Privacy Act (“CCPA”). The purpose of the open forum, which was held in Los Angeles at the Ronald Reagan State Building, was to provide an initial opportunity for the public to participate in the CCPA rulemaking process ...
Last Friday, the Illinois Supreme Court delivered the highly anticipatedRosenbach v. Six Flags Entertainment Corp., 2019 IL 123186, opinion. Businesses and consumers alike watched for the Court’s opinion regarding whether mere technical violations of the Illinois Biometric Information Privacy Act (“BIPA”) gave plaintiffs the requisite standing to seek damages under the statute ...
On 18 January 2019, the Electronic Invoicing (Public Contracts etc.) Amendment (Scotland) Regulations 2019 (the Regulations) were laid before the Scottish Parliament. They come into force on 18 April 2019 for central government authorities and bodies established under the National Health Service (Scotland) Act 1978, and on 18 April 2020 in relation to all other contracting authorities and contracting entities ...
IN THIS ARTICLE, ABHILAASH SUBRAMANIAM DISCUSSES THE POTENTIAL IMPLICATIONS OF THE MOVE FROM GST TO SST. Introduction The much anticipated Sales Tax Act 2018 and the Service Tax Act 2018(commonly referred to as “SST”) was rolled out on 1 September 2018, together with their respective subsidiary legislations, to replace the previous Goods and Services Tax Act 2014 (“GST”) ...
In this article, Tan Wei Xian analyses the new guidelines on registration and conduct of trustees and issuing houses ...
On January 21, 2019, Google was fined nearly $57 million (approximately 50 million euros) by France’s Data Protection Authority, CNIL, for an alleged violation of the General Data Protection Regulation (GDPR).[1] CNIL found Google violated the GDPR based on a lack of transparency, inadequate information, and lack of valid consent regarding ad personalization. This fine is the largest imposed under the GDPR since it went into effect in May 2018 and the first to be imposed on a U.S ...
“I don’t want a British passport for myself but should I get one for my child?” This is a common immigration-related enquiry, and one my team and I have been asked about by EU nationals repeatedly since the June 2016 referendum vote ...
Foreign managers appointed to serve on boards of Polish subsidiaries often donot know what they can doand what they must do. Consequently they are not aware of what liability goes with either of these. They should be.Before discussing the directors of aPolish limited-liability company (spółka zograniczoną odpowiedzialnością, the most commonly used corporate vehicle for running business in Poland), it is practical to make alittle disambiguation ...
To date, the Indonesian government and institutions have largely remained entrenched in an endemic culture of corruption. Despite major victories before the court by the Corruption Eradication Commission (“KPK”) in recent years, crimes of corruption (especially bribery and gratification) remain a major problem at every level of government institution ...
“I don’t want a British passport for myself but should I get one for my child?” This is a common immigration-related enquiry, and onemy team and Ihave been asked about by EU nationals repeatedly since the June 2016 referendum vote ...
Shepherd and Wedderburn, as a collection of individuals and as a business, has put diversity and inclusivity at the heart its organisational culture and values. The business case for fostering diversity and inclusivity in the workplace is compelling ...
In a landmark decision, the European Union Intellectual Property Office (‘EUIPO’) has ruled that McDonald’s, one of the world’s largest fast food chains, will lose its EU trade mark for “Big Mac” ...
2018 has passed; it was full of events and changes in legislation. We would like to share the main trends in registration of business in Russia in 2018 with you. Federal Tax Service (hereinafter the “FTS”) continued its campaign on introducing records on non-reliable data about business into the Unified State Register of Legal Entities (hereinafter “USRLE”), even in respect of the compliant businesses ...
We would like to inform you that on December 27, 2018, the President of the Russian Federation signed the Federal Law No. 549-FZ “On Making Amendments to the Part Four of the Civil Code of the Russian Federation” (previously known as the Bill No. 428309-7) that provides for temporary legal protection to industrial designs during the stage of substantive examination of applications (URL: http://sozd.duma.gov.ru/bill/428309-7) (“Law”) ...
The regulation of Transfer Pricing is one of the mechanisms through which the Directorate General of Revenue (DGI) seeks to avoid the erosion of the tax base. In Panama, it is regulated in the Fiscal Code in its Chapter IX from Article 762-A to 762-Ñ. The obligation on the issue of Transfer Pricing and specifically with the study is generated since the 2011 period ...
The UK government has announced changes to legislation to reduce the risk of fraud, violence or intimidation faced by company directors as a result of having their residential addresses on the public record. For a number of years, directors have been able to keep their residential address details private by making use of a separate service address, often the company's registered office ...
Now that the holidays are in the rearview and business as usual has begun to pick up where it left off, it’s time for public companies to do a deep download of key securities law updates and business developments of the past year so they are positioned for success in 2019. Below is a review of the 2018 proxy season, along with a summary of new and anticipated changes that may impact reporting and disclosure requirements for the 2019 proxy season ...
An executive order to eliminate the income tax withholding for interest paid abroad on bonds listed in a stock exchange, as well as to grant tax incentives to taxpayers investing in a capital market in Mexico was published in the Federal Official Gazette on January 8, 2019. The following tax incentives were created for productive investment projects: Corporate Bonds ...
The tsunami of consolidation activity in the dental services industry has created remarkable financial opportunities for dentists and investors. Primarily, these opportunities play out in the form of Dental Services Organizations formed by entrepreneurial dentists and/or private financial interests through the acquisition of established, profitable practices ...
Why is April 1, 2019 Important? April 1, 2019 is the first day U.S. Citizenship and Immigration Services (USCIS) may accept H-1B specialty worker petitions for the next fiscal year, which begins October 1, 2019 ...
Minority shareholders – often forced to silently accept the rule of the majority – should be given a voice. In May last year, Jerry Low, a minority investor in Asiatic Group (Holdings), wrote an open letter to the management highlighting concerns regarding the SGX-listed company’s poor performance, juxtaposing this against the high remuneration enjoyed by its senior management team ...
