The INPI (Brazilian PTO) published Ordinance/INPI/PR No. 21, of March 26, 2021, which extends the Backlog Combat Project aiming at reducing the number of invention patent applications pending decision. The ordinance came into force on April 1st, 2021, and targets patent applications filed between Jan. 1st, 2017 and Dec. 31st, 2017 ...
On April 9, 2021, the IRS released Private Letter Ruling (PLR) 202114002 (January 13, 2021), which provides additional context to taxpayers worried about whether their Fintech or Insurtech shares represent Qualified Small Business Stock (QSBS) under Internal Revenue Code (IRC) section 1202 ...
On April 5, 2021, the Consumer Financial Protection Bureau (the “CFPB”) issued a proposed rule that would, among other things, establish a temporary COVID-19 emergency pre-foreclosure review period until December 31, 2021, for principal residences. Currently, the moratorium on foreclosures and evictions for Federal Housing Administration, US Department of Agriculture, US Department of Veterans Affairs, Fannie Mae, and Freddie Mac loans has been extended until June 30, 2021 ...
On March 31, 2021 Law no. 14,132/2021 was passed to include the crime of obsessive persecution ("stalking") in the Brazilian Penal Code, in the chapter of Crimes Against Personal Freedom, article 147-A. The new law abrogates the misdemeanor of harassment or disturbance of tranquility, until now invoked to punish stalking behavior ...
Banking & Finance ESAs issue joint supervisory statement on the application of the Regulation on Sustainability-related disclosures in the Financial Services Sector (SFDR) ESAs issue recommendations on the application of the SFDR ...
On March 26, 2021, the Superior Court rendered a decision dismissing a class action against the Investment Industry Regulatory Organization of Canada (“IIROC”) on the loss of personal information of thousands of Canadian investors.1 The lack of evidence of compensable injury and IIROC’s diligent behaviour are the main reasons for the dismissal of the class action. The Facts On February 22, 2013, an inspector working for IIROC forgot his laptop computer in a public place ...
On Tuesday, April 13 th of 2021, a law was published in the Official Gazette that establishes new demands for transparency and strengthens the responsibilities of market agents, regulates the social security advice and other matters indicated therein , reforming, among other regulations, Law No 18,045, on the Stock Market and Law No. 18,046 on Corporations (going forward, referred as the “ Law ”) ...
Earn-outs are a commonly used payment mechanism in overseas and cross-border M&A transactions. Through earn-outs, transacting parties can set flexible metrics to adjust the buyer’s payment obligation and thereby allocate the risks and benefits between the buyer and seller ...
The Financial Services Branch of the Financial Services and the Treasury Bureau (the “FSB”) issued a letter on 1 April 2021 to all licensed money lenders setting out the Government’s proposal to revise the statutory interest rate cap and extortionate rate for money lending stipulated in the Money Lenders Ordinance (Cap. 163) (“MLO”) ...
The statutory framework for copyright in India encompasses the Copyright Act, 1957 (“CA”) and the Copyright Rules, 2013 (“CR”). This now stands amended in the form of Copyright (Amendment) Rules, 2021 (“CAR”) by the Central Government by virtue of powers conferred under section 78 of the CA. The Ministry of Commerce & Industry (Govt. of India) has duly notified this amendment[1] under Gazette notification bearing number G.S.R ...
It is only seven months until the eyes of the world fall on Glasgow as it hosts COP 26. The conference comes with some terminology which might be unfamiliar. This article is designed to bring you quickly up to speed with the words and phrases you’ll be hearing a lot about in the coming months. The very basics... COP – ‘Conference of the Parties’, the parties being the 197 signatories to the UNFCCC treaty ...
The designation of eight new Freeports within England made headlines in the Budget and now the winning bidders have to put into effect their successful proposals. What will this mean in practice for those areas affected and what are the likely issues that Freeport authorities will face? We have pulled together some questions we are asked frequently on Freeports, together with the responses we have been providing to our clients ...
The advent of blank cheque company IPOs. Special Purpose Acquisition Companies (SPACs) have taken the corporate world by storm. These “blank cheque” shell companies, which raise funds in their initial public offerings (IPO) to invest in potential but as yet unidentified target businesses, have fuelled a listing frenzy in the US. SPAC IPOs have garnered US$87.9 billion in fundraising in the first three months of 2021, already exceeding last year’s total ...
The National Security and Investment Bill will allow government intervention in transactions raising national security concerns. It will require investors in UK real estate to consider whether the regime applies and factor in any timetabling implications. The Bill is currently being examined in the House of Lords. It will introduce an independent screening regime in the UK where a transaction gives rise to national security concerns ...
In a recent article published in écho, WSG Member Astrid Wagner, Partner, IP Communication & Technology at Arendt & Medernach, provides insight on the growing risk of damage to information systems in cyber attacks and what cyber protection measures should be taken ...
In its recent decision Xuereb v Weber Construction Limited Et (decided 18 March 2021) the Civil Court (Commercial Section) weighed in once more on the appropriate tests to be applied when assessing a company's inability to pay its debts under Maltese corporate insolvency law ...
In its highly anticipated judgment, the majority of the Supreme Court of Canada found the Greenhouse Gas Pollution Pricing Act constitutional in a split 6-3 decision. The key issue before the court was whether the Greenhouse Gas Pollution Pricing Act (“GGPPA”) was constitutional. The majority decided that it was, because Parliament has jurisdiction to enact this law as a matter of national concern ...
Pursuant to the Prakas on Launching the Use Rules and Procedures of Bakong System dated 26 June 2020 and the Prakas on Management of Payment Service Providers dated 14 June 2017, the National Bank of Cambodia (“NBC”) has determined transaction amounts and KYC procedures for financial institutions and payment service providers (“PSP”) in Cambodia ...
Pursuant to the Prakas on Launching the Use Rules and Procedures of Bakong System dated 26 June 2020 and the Prakas on Management of Payment Service Providers dated 14 June 2017, the National Bank of Cambodia (“NBC”) has determined transaction amounts and KYC procedures for financial institutions and payment service providers (“PSP”) in Cambodia ...
It has been a long road for everyone’s favourite cheese. The protection of halloumi cheese should have never been complicated. The firm cheese which has the unique quality of retaining its shape even when fried or grilled, has its origins in the island of Cyprus where it has been produced for many centuries ...
Those in the CBD sector should be mindful of their marketing tactics, as the FDA continues to police the industry. Manufacturers of CBD products must also evaluate their quality-control procedures to ensure safe products are hitting the marketplace. As we forecasted this past December in a previous legal alert, the U.S. Food and Drug Administration continues to referee the emerging cannabidiol (CBD) product market ...
Did you know? The Chinese National Intellectual Property Administration (CNIPA) and European Patent Office (EPO) recently announced a pilot-programme, which will be of particular interest to Chinese and multinational companies with R&D in Mainland China and Hong Kong, especially if they wish to file patents in Europe, US or other jurisdictions outside of Mainland China ...
What is the CTA? The CTA was enacted on January 1st, 2021 as part of the National Defense Authorization Act to prevent the use of companies to evade anti-money laundering rules or to hide other illegal activities. Under the CTA companies will be required to report information regarding its beneficial owners with a beneficial ownership registry maintained by the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) ...
