Carey Olsen advises on the FSN Capital Confluence €588 million continuation fund FSN Capital Confluence acquired Nordlo, a leading Nordic managed IT service provider, and Saferoad, a European leader in road safety and infrastructure solutions, both previously part of the FSN Capital V portfolio. The acquisitions aim to accelerate organic growth and pursue strategic M&A opportunities ...
On August 1, 2024, the Department of Justice (“DOJ”) rolled out its Corporate Whistleblower Awards Pilot Program after announcing the initiative in March. Described as “[s]upercharging DOJ’s corporate investigations and prosecutions,”[1] the Pilot Program dramatically expands the pool of would-be whistleblowers and underscores the importance of robust compliance and reporting programs ...
A private sale may start an inventor’s one-year filing clock, but it likely won’t save a patentee from an intervening prior art reference. On July 31, 2024, in a precedential decision, the U.S. Court of Appeals for the Federal Circuit (CAFC) elaborated on the prior art public sale exception set forth in 35 U.S.C. §102(b)(2)(B). Specifically, the CAFC affirmed that a secret sale of a product would not be sufficient to pre-date a prior art reference under 35 U.S ...
In the calendar year 2024, roughly 32.6 million companies will be required by the Corporate Transparency Act (“CTA”) to report personal information about their beneficial owners. The report must be made to the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of the Treasury. The information below provides an overview of the requirements for our business clients that were created or registered prior to January 1, 2024 ...
As promised by the new government, the consultation on the revised National Planning Policy Framework (NPPF) has landed and now runs to 24 September. The Labour administration has clearly been busy in the lead up to the election, as the work that has gone into this is not the endeavour of less than a month in power. There’s a significant amount to analyse ...
On the 30 July 2024, the FCA released a statement confirming their proposals to extend the current pause to the time firms have to response to consumer about motor finance complaints that involve a discretionary commission arrangement (DCA) ...
We are pleased to issue our ninth edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to investment services, CSPs, fintech, insurance undertakings and insurance intermediaries ...
Carey Olsen advises on the establishment of a new corporate structure to domicile Ferguson in the US by way of a Jersey merger As a result of the merger which took place on 1 August 2024, Ferguson, which has a market capitalisation of over £30 billion, has completed its transition to establish a new corporate structure and ultimate parent company domiciled in the United States ...
Bill C-58, An Act to amend the Canada Labour Code and the Canada Industrial Relations Board Regulations, 2012, was passed on June 20, 2024, introducing anti-replacement-worker provisions to the Canada Labour Code. While anti-replacement-worker legislation has existed in Quebec since 1977, nothing of the sort existed for federal jurisdiction employers ...
Carey Olsen advises NIP Group Inc. on its IPO on Nasdaq, supporting the first esport stock from China The company successfully listed on Nasdaq Global Market in New York on 26 July 2024 and the price in the offering was US$9.00 per American depositary share, with a total market value of the company of approximately US$ 500 million. Carey Olsen partner Anthony McKenzie and counsels Susan McKinstray and Maggie Yan advised NIP Group Inc ...
Mamo TCV Advocates is pleased to announce that Dr Veronica Grixti will be appointed as a partner of the firm with effect from 1st August 2024. Veronica obtained her Doctoral degree in Law from the University of Malta in 2004 and a Master of Law degree in Magister Juris (European & Comparative Law) in 2005 and joined the firm’s corporate and general commercial and insurance team as an associate in 2005 ...
After a two-and-a-half-year legislative process, the EU’s Corporate Sustainability Due Diligence Directive (CSDDD or CS3D) was published in the EU Official Journal on 5th July 2024, marking a paradigm shift in corporate sustainability. In recent years, companies have increasingly faced societal and legal pressures to adopt more sustainable business practices, typically centered around environmental protection ...
On 16 July 2024, Legal Notice 166 of 2024 was published in Malta. This implemented the relevant provisions of DORA (full title being Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) 648/2012, (EU) 600/2014, (EU) No 909/2014 and (EU) 2016/1011) into Maltese law ...
On the 12th July 2024, the Malta Financial Services Authority (“MFSA”) published a Circular introducing new passporting forms for (re)insurance undertakings as part of the MFSA’s efforts to address new requirements emanating from the Cross Border Notification Platform launched in February 2023 ...
July 31, 2024 By: Thomas O'Connell “It’s Monday, April 7, 2014. It is a cool, mostly cloudy morning at an independently owned and operated McDonald’s in Los Angeles, California. That day, two employees allegedly “engaged in concerted activities with other employees for the purposes of mutual aid and protection, by discussing a disciplinary incident with co-workers ...
Feeling like an imposter can be common for young professionals, especially for those who are the first in their families to enter the legal field. How can first-generation professionals more easily navigate their paths forward? In this episode of The Lawyer’s Edge podcast, Elise Holtzman sits down with Alé Dalton, Partner at Bradley Arant Boult Cummings, to explore her path to partnership and the unique challenges faced by first-generation professionals ...
Citizens' Advice Guernsey to hold black-tie gala, sponsored by Carey Olsen Friends of Citizens' Advice – an extension of Citizens' Advice Guernsey established to raise funds for the charity – will host the black-tie event, which will include a three-course meal and live music, followed by a raffle and an auction ...
On 26 July 2024, the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) released the revisedProvisions on the Administration of Funds of Foreign Institutional Investors for Domestic Securities and Futures Investment(《境外机构投资者境内证券期货投资资金管理规定》, the "Revised Provisions"), which will come into effect on 26 August 2024 and supersede the current version issued on 7 May 2020 (the "Current Provisions") ...
On the 29thJuly, the Malta Business Registry (MBR) issued a notice advising that any memoranda and articles of association being filed with the Registrar of Companies, whether in the course of an incorporation of a new company or as an amendment to memoranda and articles of association of companies already registered, need to be amended in order to refer to certain notification obligations which Maltese companies may be subject to ...
On July 25, 2024, the Financial Market Commission ("CMF"), and after a public consultation process, the CMF published General Rule No. 515 (the “NCG 515”) that establishes a new communication channel between the supervised entities and the CMF and General Rule No. 516 (the “NCG 516”) that establishes common criteria to report material and reserved matters ...
By: Matthew T. Drenan, Charles F. Whitman, & Alicia A. Belock As temperatures continue to rise these upcoming weeks, employers take heed of pertinent health and safety laws to ensure workplace compliance. In anticipation of further shifts in the regulatory landscape favoring additional worker protections, we take this opportunity to review existing and imminent regulations during times of extreme heat ...
In another update to the Federal Trade Commission’s (the “FTC”) Non-Compete Ban (the “Rule”), a federal judge in Pennsylvania ruled against ATS Tree Services, LLC v. Federal Trade Commission, et al.[1] denying ATS’ motion for a preliminary injunction ...
The Pennsylvania Supreme Court will soon hear arguments in a case that may have far reaching implications for businesses facing consumer protection claims in the state. The Court has granted allocator in Halpern v. Ricoh U.S.A., Inc ...
Cyber reporting requirements for Bermuda insurers, insurance managers and insurance intermediaries following the CrowdStrike faulty software update Key reporting obligations Prompt notification Bermuda insurers, insurance managers and insurance intermediaries (including brokers, agents and insurance marketplace providers) (each, a "Registered Person") must forthwith notify the BMA upon coming to the knowledge, or having a reason to believe, that a cyber reporting event has occurred ...
Reminder It is ****illegal**** for a company to ****refuse**** to provide ****benefits**** (e.g., ****voluntary medical insurance****) due to an ****employee's failure**** to provide ****consent**** to the processing of personal data.This was the conclusion reached by the 3rd Cassation Court of General Jurisdiction in ****Resolution No. 88-1047/2024 dated 15 January 2024**** ...
