On September 27th, 2022, Law No. 21,488 was enacted, incorporating new crimes in the Chilean Criminal Code sanctioning the theft of timber. The new regulation, in its first article, adds the "Paragraph IV ter. of the theft of timber" in the Chilean Criminal Code to grant a special regulation of these crimes. Thus, if the value of the timber obtained through the theft exceeds approximately USD 615.00, an accessory penalty will be applied consisting of a fine of USD 4,615.00 to USD 6,154.00 ...
In the CyberMonday event, from October 3 to 5 2022, will be fully in force the reforms to Law No. 19,496 on Consumer Rights Protection in the field of e-commerce, introduced mainly by the "Pro-Consumer" Law and the Electronic Commerce Regulation. The following are the main aspects and obligations to be taken into consideration for the event: Promotions, offers, contests and sweepstakes must disclose the terms and conditions governing them and their term of duration ...
On September 23, Kudun and Partners were invited by TrustLaw, the charitable arm of Thomson Reuters, to be the legal experts in their Legal Health Check Workshop. The core objective of the event was to raise awareness of how law firms, like Kudun and Partners, can work with TrustLaw to provide pro bono legal services to NGOs, Civil Society Organizations (CSOs) and social enterprises (SEs). Chai Lertvittayachaikul and Emi Rowse (Igusa), partners of Kudun and Partners, presented at the event ...
In July 2022, the European Commission launched a public consultation on its draft proposals for the future of the Motor Vehicle Block Exemption Regulation (‘MVBER’) regime. The proposals include (i) a draft Regulation prolonging the validity of the existing MVBER for five years and (ii) a draft Communication introducing targeted updates to the Supplementary Guidelines. Comments may be submitted by the 30 September 2022 ...
According to official statistics, almost 104,000 couples got married in Ukraine during the first half of such a difficult year of 2022. It is interesting that during the same period of 2021, a little less than 86 thousand couples exchanged marriage vows. Such indicators indicate that the full-scale war did not prevent those who have a desire to create new families ...
Kudun and Partners recently completed a pro bono project for Baan Dek Foundation on the implementation of the Personal Data Protection Act, B.E. 2562 (2019) or PDPA that went into full force on June 1, 2022. Baan Dek Foundation is a Thai-registered foundation with a mission to provide access to education, health and safety services for vulnerable children living in urban slums and construction site camps in Thailand ...
Bank Indonesia recently updated its regulation on domestic non-deliverable forward (DNDF) transactions. Bank Indonesia Regulation No. 24/7/PBI/2022 on Foreign Exchange Market Transactions (“BI Reg. 24/7/2022”) replaces the previous regulation on DNDF, BI Regulation No. 20/10/PBI/2018 (as amended). BI Reg. 24/7/2022 makes some noteworthy amendments on the DNDF terms and introduces new thresholds and provisions on DNDF transactions ...
The ever-growing industry of Peer-to-Peer Lending (“P2P Lending”) has driven the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) to issue OJK Regulation No. 10/POJK.05/2022 on Technology-Based Collective Financing Services, which came into force on 4 July 2022. The regulation provides more detailed and extensive provisions to cater with the rapid development of the industry ...
After extensive discussions and multiple changes to the draft bill since 2016, the Indonesian House of Representatives passed the draft bill on Personal Data Protection on 20 September 2022 (“Personal Data Protection Law”). The Personal Data Protection Law will be the basis of the regulations on personal data protection and this advisory highlights the key provisions ...
Dr Nicholas Valenzia, Head of the Shipping and Yachting practice group at Mamo TCV, will be attending the Monaco Yacht Show between the 28th September and 1st October, 2022. Feel free to get in touch directly to set an appointment. The post Dr Nicholas Valenzia will be attending the Monaco Yacht Show appeared first on Mamo TCV ...
As part of the UK Government’s review of the UK funds regime it has included in the Finance Act 2022, (the Act) a new regime for qualifying asset-holding companies (QAHCs). This regime came into effect on 1 April 2022. The QAHC regime provides a tax efficient, UK resident vehicle through which certain types of institutional investors and funds can hold investments ...
Lauren Bowkett is a fraud and financial crime expert in the Business Crime and Compliance Team at Shoosmiths. She is an expert in confiscation proceedings under the Proceeds of Crime Act 2002 (‘POCA’) and has successfully intervened in numerous POCA cases to assert her clients third party interest rights ...
Earlier this month, Deputy Attorney General (DAG) Lisa Monaco delivered a shot across the bow to individuals responsible for corporate malfeasance, and the companies that protect them. On September 15, 2022, in a memorandum and in public remarks, she issued marching orders to federal prosecutors and a warning to corporate America. She made clear that the Department of Justice (DOJ) would seek and allocate significant resources to “prioritize and prosecute corporate crime ...
The Jersey Retail Price Index (“JRPI”), the main measure of inflation, was 7.9% higher in June 2022 than it was 12 months before - the highest rate of increase seen since 1992. 1 The next JRPI is due to be released in October 2022 and further significant increases are expected. Such a hefty rise in inflation is concerning – it is inevitable that people will suffer from a worrying financial squeeze ...
A webinar hosted by Shoosmiths in collaboration with Asset Reality. Scroll down the page to watch the webinar. Intro poll According to a recent survey, what percentage of millennial millionaires own cryptocurrency? According to a recent study conducted by CNBC, 83% percent of millennial millionaires own cryptocurrency with over half having at least 50% of their wealth in cryptocurrencies. https://cointelegraph ...
The action of unjustified enrichment, also known as the actio de in rem verso, dates back to Roman Law and despite the fact that it was formally included in the Maltese Civil Code in 2007 by means of Article 1028A, it has always been accepted by the Maltese Courts. The notions of equity and fairness serve as the foundation of this action. One should be compensated for the benefit gained by an individual without a just cause to the detriment of the former ...
On 17 August 2022, the Trade Competition Commission of Thailand (“TCCT”) issued the Notification of TCCT on Guidelines for Determining Fair Trade Practices Relating to Provision of Credit Terms for Small and Mediums Enterprises (“SMEs”) being Sellers or Service Providers (No.2) (“Notification”) which came into effect on 16 September 2022 ...
Kudun and Partners represented Nature Best Food Co., Ltd. the first manufacturer and distributor of seaweed in Thailand on the sale of its seaweed processing and distribution business by way of an entire business transfer (EBT) transaction to TS Food Holding Co., Ltd., a subsidiary of Thai Sugar Terminal PCL, a business providing rental services for port-warehouses for approximately THB 250 million ...
<p>Dear valued clients, colleagues and friends,</p><p> </p><p>We are pleased to bring you the latest legal updates for September 2022.</p><p> </p><h2><strong>Financial Services</strong></h2><p><a href="http://www.shearndelamore.com/alerts/2022/Legal_Updates_Sept_1_2022.pdf">Expansion of SRI Sukuk and Bond Grant Scheme</a></p><p><a href="http://www ...
On 1 April 2022, the Qualifying Asset Holding Companies (“QAHC”) regime, the latest innovation in the UK’s corporate tax landscape, came into effect for UK tax resident companies. Meanwhile in the EU, the European Commission has announced it will be introducing the anti tax-avoidance directive (“ATAD 3”) aimed at EU resident holding companies claiming benefits under double tax treaties and due to come into effect on 1 January 2024 ...
On September 15, 2022, the Wall Street Journal reported Securities and Exchange Commission (SEC) Chairman Gary Gensler told reporters after a Congressional hearing that digital assets and the intermediaries dealing in such assets that allow for staking may shift the “efforts of others” analysis under the Howey test. If so, they would be re-categorized as securities ...
