Crypto assets are assets that exist on a blockchain and are represented through a token, where the keys to the token are held in a crypto wallet. The characteristics of different crypto assets vary, depending on the code of the blockchain they operate on ...
We are delighted that Lill Egeland, Halvor Klingenberg and Christian Reusch have strengthen their individual rankings with respectively Band 1 within Employment and Band 3 within Banking & Finance and Dispute Resolution ...
The Competition and Markets Authority (CMA) and Advertising Standards Authority (ASA) are increasing their scrutiny and enforcement of ‘green claims’ to protect consumers from 'greenwashing'. What are green claims? Green claims (also known as ‘environmental claims’ or ‘eco-friendly claims’) are claims that a product, service, or business provides a benefit or is less harmful to the environment ...
Following a wave of recent prosecutions in relation to cash fraudulently obtained through the various Covid-19 support schemes, we consider the criminal and civil ramifications on a legitimate business which has received cash from someone who has been prosecuted and offer some helpful tips to reduce the risk of your business inadvertently laundering the proceeds of crime ...
The immediate crisis caused by the collapse of Silicon Valley Bank (‘SVB’) in the US has been averted with US regulators stepping in to help customers there, and HSBC buying SVB’s UK subsidiary (‘SVB UK’). But the collapse of Silvergate Capital, SVB and Signature Bank in quick succession has somewhat sharpened focus on the potential risks in the finance industry (notwithstanding the increase in regulation, particularly over recent years) ...
The Royal Government of Cambodia has issued the Sub-Decree on Requirements and Procedures for Business Combinations dated 6 March 2023 (“Merger Sub-Decree”). The Merger Sub-Decree elaborates on the prohibition on anti-competitive business combinations set out in Article 11 of the Law on Competition. The Merger Sub-Decree was officially implemented on its signature date (of 6 March 2023) and will be enforced within 6 months of that date ...
Grey-listing by the Financial Action Task Force (“FATF”) has major implications for countries and companies alike. These implications include reputational damage, economic consequences, and increased compliance costs, which can lead to restricted foreign investment and reduced capital inflows ...
Reliance on performance guarantees in infrastructure projects has gained traction in Uganda in recent years. A performance guarantee is a legal promise made by one party to another, and typically backed by a third-party financial institution, to ensure fulfilment of contractual obligations ...
Regents of the University of Minnesota v. Gilead Sciences, Inc., Appeal No. 21-2168 (Fed. Cir. Mar. 6, 2023) The Federal Circuit’s only precedential patent opinion this week focuses on the written description requirement in the context of an anticipation analysis in the chemical arts. Specifically, it concerns whether disclosures in asserted prior art were sufficient to disclose a claimed molecular structure ...
On February 1, 2023, the China Securities Regulatory Commission ("CSRC") solicited public opinions on the Measures for Administration of the Registration-based Initial Public Offerings of Stocks (Draft for Comment) (《首次公开发行股票注册管理办法（征求意见稿）》) ...
Sustained biodiversity loss since the industrial revolution has resulted in Britain being one of the most nature-depleted countries in the world. One response to this enduring problem are proposals to use the planning system to mandate biodiversity net gain (BNG) through the development management process. The aim of the requirements is to secure a minimum 10 per cent biodiversity net gain from new developments, with effect from November 2023 ...
On March 1, 2023, the Department of Education (“DOE”) released guidance related to the instances in which it will require assumption of personal liability for an institution’s continued participation in Title IV programs. Last year, the DOE announced updated signature requirements for institutions’ Program Participation Agreements (“PPA”). Institutions entering into PPAs already agree to comply with regulatory requirements related to financial responsibility ...
March 13, 2023 By: Manuel Fishman While unexpected, the closure by California regulators of, and the appointment of the Federal Deposit Insurance Corporation (“FDIC”) as receiver for, Silicon Valley Bank (“SVB”) is an event that is contemplated by most leases. If you are holding a letter of credit issued by SVB, you are an unsecured creditor of the bank ...
In the waning days of 2022, FDA issued an updated Food Code with several important updates. FDA is responsible for more than a quarter of the U.S. economy, and the Food Code impacts virtually every American ...
Malta, as a European Union (‘EU’) Member State, is bound to apply the 2019 Hague Convention on Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters, also known as the Hague Judgments Convention, from the 1st of September 2023 ...
Trademark owners have already faced a number of changes since the Trademark Modernization Act (“TMA”) first began to take effect in 2021. However, it’s a small change to the provisions regarding attorney representation at the US Trademark Office that may have the most costly impact to trademark owners and lead to an unintended loss of rights. The provision is 37 CFR § 2 ...
On January 19, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here and here. The original deadline for comments on the proposed rule was March 20. On March 6, the FTC announced it is extending the deadline to submit comments to April 19. As of March 9, a total of 16,965 comments (8,848 electronically) have been received on the proposed rule ...
In January 2023, Thailand’s Securities and Exchange Commission (the “SEC”) hosted several public hearings to gather feedback from the public on the proposed draft regulations for digital assets business operation in Thailand, including, among others, Public Hearing No. AorNorDor ...
Back in May 2021, the UK Government and India formed a new partnership to facilitate Indian and British young professionals being able to work in each other’s home countries. The Home Office has now published guidance in respect of this on its website calling the scheme the “India Young Professionals Scheme visa”. The scheme is reciprocal so young UK nationals meeting the criteria can apply to live, study and work in India for up to two years ...
On January 19, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here and here. The original deadline for comments on the proposed rule was March 20. On March 6, the FTC announced it is extending the deadline to submit comments to April 19. As of March 9, a total of 16,965 comments (8,848 electronically) have been received on the proposed rule ...
Shoosmiths’ CR&A team were instructed by Teneo, the special administrators of Sova Capital Limited, on their directions application relating to a proposed sale of “trapped” securities which had traded on the Russian Stock Exchange ...
