The electronic commerce industry is expected to expand by five to seven percent in the coming years while the streaming services business is also expected to exponentially grow, with more and more Filipinos opting to do their transactions online, as well as accessing Internet-based content and entertainment. Philippine authorities are inevitably focusing their regulatory gaze on these enterprises. A ...
You are undertaking a project for a new business, a startup.You already have the financial/commercial side well thought-out, and have commissioned a designer to sketch a logo and design a corporate identity under the brand you have decided to use. You buy stationery, signs, business cards, among others ...
Since the 1960s, the United Stated Securities and Exchange Commission (SEC or Commission) has implemented several “Guides” for business disclosure by certain SEC registrants involved in banking, oil and gas, real estate, insurance, and mining activities ...
On October 8, Treasury issued a new Interim Final Rule Re Additional Revisions to Loan Forgiveness and Loan Review Procedures Interim Final Rules (new IFR), along with a new Loan Forgiveness Application Form 3508S and Instructions for the new Form, addressing applications for forgiveness of PPP loans of $50,000 or less. Links to the new IFR, the new Form 3508S, and the new Instructions for Form 3508S are set out below ...
On October 7, the Consumer Financial Protection Bureau (CFPB) took steps to clarify its interpretation of how settlement service providers may comply with the “no kickback” and “unearned fee” provisions of Section 8 of the Real Estate Settlement Procedures Act (RESPA) by promulgating a new set of Frequently Asked Questions (FAQs). The FAQs provided several concrete examples to shed light on what activities are allowed under those provisions ...
What Happened: The US warns victims of ransomware and companies facilitating ransomware payments of potential Office of Foreign Assets Control (“OFAC”) violations in light of rising ransomware attacks. The Bottom Line: Individuals and companies risk potential civil penalties based on strict liability if a ransomware payment involves a person or entity on OFAC’s Specially Designated Nationals and Blocked Persons List (“SDN List”) ...
To combat the economic consequences of the COVID-19 pandemic, the government approved Decree-Law 10-J/2020 of March 26 (the “Decree-Law”). The Decree-Law established a set of economic measures to protect liquidity and treasury, and in this document, we focus on the financing moratorium ...
The functioning of the World Wide Web is in many ways dependent on the use of hyperlinks. Many of those hyperlinks refer to works protected by copyright. In his recent Opinion, Advocate General Szpunar has considered which kinds of hyperlinks should be regarded as a communication to the public that require the copyright holder’s prior authorisation ...
This is to inform you that the Resolution of the Government of the Russian Federation dated October 01, 2020 No. 1587, has extended the moratorium on bankruptcy of companies, at the request of their creditors, until January 07, 2021. In this regard, we would like to draw your attention to the key provisions related to the moratorium regime and its extension. Moratorium – the first results ...
The COVID-19 pandemic has been not only causing major social upheaval but disrupting business development and the economy as well. Nevertheless, since last March, we have seen many developments and new projects involving self-driving vehicles (SDV). Here is an overview ...
Key Points Effective Jan. 1, 2021, most California employees — even those who work for very small businesses — will be entitled to 12 weeks of job-protected time off work under the CFRA for qualifying reasons. Qualifying reasons for leave are broadly defined to include caring for a family member — including grandparents, grandchildren, adult children and siblings — with a serious health condition ...
As seen in Bank Director From lobby closures to Paycheck Protection Program loans, the COVID-19 pandemic has thrown a lot at banks and other financial services providers during this pandemic. One more item to add to the list is the Families First Coronavirus Response Act (FFCRA) ...
So, you want to start a hemp company in Alabama. You have your big idea and a business plan ready, but you begin to wonder whether you should be thinking about any legal issues as you get your company off the ground. That’s where we come in. Bradley’s Cannabis Industry team has a deep understanding of the many unique legal and business issues that impact hemp companies in Alabama and beyond ...
Over-indebted companies still exempted from filing duty until 31 December 2020COVID-19-affected companies to benefit from easier access to protective shield proceedings and preventive restructuring schemes/ regimes as from 1 January 2021 Two German legislative initiatives taken in September 2020 will have an immediate impact on the options available to restructure a business under German law: DUTY TO FILE FOR INSOLVENCY RE-INSTATED FOR ILLIQUID COMPANIES AS OF 1 OCTOBER 2020; SUSPENSIO
The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 23, Series of 2020 (CDV Circular), dated August 18, 2020, which provides a regulatory framework for the creation and operation of Corporate Debt Vehicles (CDV). The circular aims to alleviate the adverse economic effects of the COVID-19 pandemic on large corporations and medium-sized enterprises by giving them another mode of raising capital through the intermediation of a mutual fund. 1 ...
Part 2 of this series is about data protection. In case of questions, please contact Zoltán Balázs Kovács. How do you secure data in the home office environment? What policies should be in place to secure data and devices? What does a data breach mean? Employers must comply with the principle of accountability and demonstrate compliance (including by way of applying proper internal policies). This is important also from the perspective of data security ...
An app that has captivated Generation Z with the ability to create and share videos has been dragged into the US-China power struggle, becoming its latest flashpoint. The current social media darling, TikTok, boasts 800 million active users. Reports value it at up to US$50 billion (S$68.4 billion). Considering that its Beijing-based app maker launched it worldwide only two years ago, that represents huge growth ...
The next state in our series exploring non-compete agreements is the Magnolia State, Mississippi. Unlike Texas and Louisiana, Mississippi’s noncompete laws are purely creatures of the common law. Mississippi has no statutory scheme in place governing covenants not to compete. For this chapter we are joined by my partners Justin Scott and Slates Veazey ...
This is to inform you that the Resolution of the Government of the Russian Federation dated October 01, 2020 No. 1587, has extended the moratorium on bankruptcy of companies, at the request of their credi-tors, until January 07, 2021. In this regard, we would like to draw your attention to the key provisions related to the moratorium re-gime and its extension. 1. Moratorium – the first results ...
SME Merger and Acquisition instruments exempt from stamp dutyThe Prime Minister announced that starting from 1 July 2020 until 30 June 2021, eligible SMEs will be exempted from paying stamp duty on instruments for Mergers & Acquisitions (“M&A instruments”), including Contracts or Agreements for sale or lease of properties (including land, building, machinery and equipment); Instrument of Transfer and Memorandum of Understanding; Loans or Financing Agreement; and First Tenancy
In this article, Lee Yuan Yao looks at the proposed disclosure requirements on beneficial ownership of shares in private companies under the proposed Companies (Amendment) Bill 2020.IntroductionOn 29 July 2020, the Companies Commission of Malaysia (“CCM”) released a consultative document seeking feedback on the proposed Companies (Amendment) Bill 2020 (“CA Bill 2020”) ...
THE POSITION BEFORE THE SEC STATEMENT The Security and Exchange Commission of Nigeria (the “SEC” or the “Commission”) on 14 September 2020, released their Statement on Digital Assets and their Classification and Treatment (the “Statement”) pursuant to the powers conferred on it by the Investment and Securities Act 2007[1](“ISA”) ...
Key Points Under the final regulations, the IRS can change the default rate of withholding applied to monthly pension or annuity payments simply by issuing new forms, instructions, or other guidance, rather than by having to issue new regulations. Plan administrators and annuity providers should consider making changes to their systems and processes to allow frequent changes to the default withholding rate for pension or annuity payments ...
