While their advent was initially hailed as a revolution for the creative industries, non-fungible tokens (“NFTs”) appear to have lost significant steam over the past months with the Wall Street Journal reporting that NFT sales have dropped by 92% over September 2021 figures ...
The UAE introduced the Economic Substance Regulations in April 2019 (later amended by Cabinet Resolution 57 of 2020 (ESR) and Ministerial Decision 100 of 2020). The relatively new regulations have imposed a number of reporting requirements for virtually all private companies in the UAE. Despite this relative infancy, the Ministry of Finance has already started issuing heavy fines for companies which are not compliant with the regulations ...
On 1 September 2020, the Thai Securities and Exchange Commission (“SEC”)’s new regulations regarding the advertisements of digital asset business operators became effective. Prior to the issuance, the SEC observed that digital asset business operators heavily advertised their digital asset services on various platforms, such as digital media and billboards ...
On August 31, 2022, the Cyberspace Administration of China (the "CAC") issued the Application Guidelines for Security Assessment of Cross-border Data Transfer (1st Edition) (the "Application Guidelines"), which specify and implement the provisions on cross-border data transfer security assessments ("security assessments") in the Measures for Security Assessment of Cross-border Data Transfers (the "Assessment Measures") ...
Registrations for the Mamo TCV Advocates Sustainable Finance Week being held between the 24th and 28th October 2022 are now open. Please click here for the programme of events ...
We are pleased to announce that Andrew Muscat, Michael Psaila and Katya Tua have been recognised as leading lawyers in the 32nd edition of the IFLR1000 – the most detailed analysis of lawyers working in corporate finance IFLR have ever conducted. Andrew is a Senior Partner at Mamo TCV Advocates and co-heads the Corporate, Capital Markets, Insolvency and Banking practice groups ...
By: Jack Darrington, Keven Rowe, and Landon Hardcastle Under a new Utah law, most providers of commercial financing or factors which are located in Utah or who lend to a Utah resident are required to register as a commercial financing provider with the Utah Department of Financial Institutions. Additionally, certain disclosures are required before engaging in most transactions. To some extent, the law mirrors Truth in Lending type acts passed in New York and California ...
As a matter of important update that may impact potential and scheduled transactions in Russia, please be advised that on 8th of September 2022 the President of the Russian Federation has signed Decree No. 618 “On Special Procedure for Consummation (Execution) of Certain Types of Transactions (Operations) between Certain Persons” (“Decree No. 618”). Decree No ...
Many are still of the belief that business income tax (also called corporate income tax (CT)) is only under discussion and its introduction uncertain. That is certainly not the case. The UAE federal government has announced the application of income tax for business activities as of 1 June 2023. Although the law for CT has not yet been issued, we know that the Federal Tax Authority (FTA) (which also administers the VAT) is busy preparing for the introduction of CT ...
Law 31/22 - which approved the Angolan Code of Administrative Procedure (“new CPA”) - was published in the Official Gazette on 30 August last. This law has repealed Decree-Law 16-A/95 of 15 December, which, in turn, approved the Rules of Administrative Procedure (“former CPA”). The previous CPA, came into force in January 1996 and was only amended in 2016 by Law 9/16 of 16 June ...
Most employers know that they have a legal obligation to protect employees from harassment at work and to prevent it from recurring. Many employers assume that this obligation relates to harassment by employees and managers; however, it actually extends to harassment by third parties, including customers or vendors. Several recent cases brought by the U.S ...
In late June 2022, the Supreme Court of the United States decided Dobbs v. Jackson Women’s Health Organization, overruling Roe v. Wade and Planned Parenthood v. Casey, which had previously recognized a woman’s constitutional right to terminate a pregnancy prior to fetal viability. After Dobbs, many states sought to protect a woman’s choice to terminate her pregnancy ...
The Ohio Department of Health (“ODH”) has released the applications for both skilled and non-medical home healthcare licenses, which are now required pursuant to H.B. 110, now codified as R.C. 3740 et. sec. Agencies providing skilled home health care, nonmedical home health/personal care services, and non-agency providers of nonmedical home health/personal care services will be required to be licensed starting October 1, 2022 ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
September 6, 2022 By: Michael Flynn* Continuing a recent trend, the CFPB has asserted that its oversight authority regarding unfair, deceptive, and abusive practices (UDAAP) to assert that certain digital marketers, including what it refers to as “Big Tech,” face potential UDAAP liability and oversight from the CFPB ...
In Butler-Sloss and Ors v Charity Commission for England and Wales and Anor,[1] the England and Wales High Court (the Court) blessed the charity trustees’ decision to adopt investment policies that restricted investments to those aligned with the charities’ purposes, thereby excluding many potential investments. In so doing, the Court provided clarification regarding Harries v Church Commissioners for England ...
On September 1st. 2022, amendments to the Federal Law 'On Advertising' of 13.03.2006 N 38-FZ (the 'Advertising Law') came into force. Now, advertisements on the Internet are subject to mandatory labeling and registration, which significantly complicates such advertising on the Internet, in Russia ('online advertisement'). In this regard, we present you an overview of the key changes, that companies need to take into account, when distributing online advertisements. Download the overview ...
What is the intention of the new regime? By replicating and improving upon successful asset holding structures adopted by fund managers in jurisdictions like Luxembourg, the QAHC regime is intended to bolster the UK funds industry by facilitating greater UK-based fund activities, amending certain aspects of the UK tax system which have hitherto made UK vehicles unattractive as asset holding companies ("AHCs") ...
Directors Publicly available names of directors In 2016, the BVI Business Companies Act, 2004 introduced a requirement for all BVI companies to file the names of directors with the Registrar of Corporate Affairs (the “Registrar”). To date, the contents of the private register of directors have not been available for inspection by the public ...
INVT SPE LLC v. Int’l Trade Comm’n, Appeal No. 2020-1903 (Fed. Cir. Aug. 31, 2022) In its only precedential patent case last week, the Federal Circuit issued a lengthy opinion that revolved around claims that are drawn to “capability,” particularly for computer-implemented claims ...
Mamo TCV Advocates shall be organising a series of webinars spanning over one week to provide insights on sustainable finance and related regulatory compliance obligations. The scope of these webinars is to highlight how the sustainability-related requirements are impacting the financial services sector from a regulatory standpoint. During the week, Mamo TCV Advocates will also be discussing employment and corporate social responsibility matters ...
