Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal update for October 2022 ...
To raise sustainability practices and disclosures of listed issuers, Bursa Malaysia Securities Berhad has enhanced the sustainability reporting requirements in the Main Market Listing Requirements and the ACE Market Listing Requirements which was announced on 26 September 2022. Click here to read more. Feel free to contact our partner Lai Zhen Pik or associate Ng Kar Mun for any questions about this article or Corporate/M&A matters ...
Just as the world started to show signs of recovery from the pandemic and there was a glimpse of a promising economic boom, Russia invaded Ukraine. The wide-reaching effect of the war on society and business has meant that many of the challenges faced by the economy are real and the risks previously believed to be of low importance have been or will be actualized ...
The Office of the Personal Data Protection Committee (the “PDPA Committee”) published a draft regulation issued under the Personal Data Protection Act (2019) (the “PDPA”) relating to the cross-border transfer of personal data outside of Thailand (the “Draft Regulation”) on its website in September 2022 ...
Given the ubiquitous nature of end-user license agreements, terms of service, and similar agreements for websites and other software,[1] it is unsurprising that a company has filed a Petition for Certiorari with the Supreme Court this term (in Genius v. Google) asking the Court to consider the extent to which the Copyright Act preempts private contracts involving a promise not to copy digital content ...
The agreement on a new EU-U.S. data privacy framework between EU Commission President Ursula Von Der Leyen and U.S. President Joe Biden had already been announced on 25 March 2022 (for background, please refer to our previous article The EU-US Privacy Shield: Third Time’s a Charm? – Mamo TCV) ...
As we discussed in prior updates, on July 13, 2022, Christian Bruckner filed a lawsuit in the federal district court in Tampa, Florida, seeking to enjoin the Infrastructure Investment and Jobs Act’s set-aside of 10% (around $37 billion) of transportation funding for “small business concerns” owned and controlled by “socially and economically disadvantaged individuals ...
On October 28, 2022, the Department of Defense’s amendments to FAR 52.212-3 and FAR 52.219-1 became effective. These changes amended the Federal Acquisition Regulations to be in line with prior changes by the SBA to its mentor-protégé program, and recognize that a mentor-protégé joint venture qualifies for a socioeconomic program (8(a), HUBZone, WOSB, etc.) if one of the parties to the joint venture meets the associated requirements of the socioeconomic program ...
In Society of Composers, Authors and Music Publishers of Canada v. Entertainment Software Association1 (the ?SOCAN Decision?), the Supreme Court of Canada ruled on the obligation to pay a royalty for making a work available to the public on a server, where it can later be streamed or downloaded ...
Environmental, social and governance (ESG) reporting is a major and evolving regulatory area in Europe. Disclosures play a crucial role in helping the financial sector address climate change and sustainability. They are also being used to address issues such as poor workplace diversity and gender pay gaps. Several jurisdictions have introduced or plan to introduce measures dealing with ESG risks in supply chains ...
On 17 November 2022, the State Administration Council (“SAC”) enacted the Law Amending the 2022 Union Tax Law (“2022 UTL Amendment”). This law provides tax exemptions for Battery Electric Vehicles (“BEVs”) and increases the corporate income tax rate of companies engaged in the oil and gas exploration and production sector in Myanmar. We highlight below the major changes under this law: 1 ...
On the 12th of April 2021, the Malta Financial Services Authority (‘MFSA’) introduced the requirement for all collective investment schemes that are locally licensed or notified to submit a novel return, being the Annual Fund Return. Various amendments to the Annual Fund Return have been made as can be seen in the Circular issued by the MFSA on the 21st of December 2021, along with the updated Guidelines ...
Congratulations! You won your case in court and all the expense and hard work of the past few months, or years (not to mention the broken business relationships and sleepless nights along the way) might just have been worth it to experience this moment of jubilation ...
2022 saw the removal of all COVID-19 related restrictions. As we enter our first winter restriction free, we are likely to see a significant spike in COVID-19 cases in addition to other cold or flu viruses. So, what should employers do to manage this? It is imperative that employers consider what they can do to effectively manage COVID-19 within the workplace this winter and how best to protect their employees from associated risks ...
The Procedures reflect updates to the de-registration process for mutual funds and establish for the first time the de-registration process for private funds, which aim to create a streamlined and harmonised regime for regulated funds ...
On 11 November 2022, the China Banking and Insurance Regulatory Commission ("CBIRC") issued for public consultation a draft revision to the PRC Banking Supervision Law (the "Consultation Draft"). The current PRC Banking Supervision Law was first promulgated in February 2004 and was amended once in 2006 (the "Current Law") ...
The benefits of Guernsey as a fund domicile. Guernsey is one of the world’s largest offshore finance centres, with a thriving funds industry. Over 1,400 investment funds and sub-funds are currently administered in the island. The value of funds under management and administration in Guernsey as at the end of June 2021 is US$533 billion (up 24.4% in 12 months), based on the most recent available data published in The 27th annual Monterey Insight Guernsey Fund Report ...
On 18 November 2022, the People's Bank of China and the State Administration of Foreign Exchange ("SAFE") jointly promulgated the Provisions on Administration of Funds Invested in China's Bond Markets by Foreign Institutional Investors (《境外机构投资者投资中国债券市场资金管理规定》, the "New Rules") ...
The ICO’s long-awaited guidance on how organisations can manage transfers of UK data to receivers outside the UK has arrived. What does it say about the direction this government may want to take on data protection reform? It will take time for advisers and users to digest but it’s instructive to take an early tour and try to guess what will prove useful and what are the new bones of contention ...
This article first provides an overview of the current state of the crypto disputes landscape, which arises at a novel intersection of crypto, arbitration and insolvency. It then looks at the type of legal and practical factors that may be relevant to a creditor in deciding on a dispute strategy when faced with a financially distressed crypto company, including in the context of arbitration and liquidation proceedings ...
In conjunction with Malta Enterprise, Residency Malta Agency has launched a new residence programme for beneficiaries under the Malta Start-Up Residence Programme. Similar to the Nomad Residence Permit , the Malta Start-Up Residence Programme seeks to attract business-driven individuals to set up their new business venture in Malta ...
On November 9, 2022, the Financial Market Commission (“CMF”) published General Instruction No. 2,325 which updates the regulations on the prevention of money laundering, financing of terrorism and non-proliferation of weapons of mass destruction (“New Instruction”) applicable to: (i) banks (including their subsidiaries and support companies); (ii) savings and credit cooperatives; (iii) and payment card issuers ...
On 15 November 2022, the Secretary of the Department of Energy (“DOE”) signed DOE Department Circular (“DC”) No. 2022-11-0034 which amends the Implementing Rules and Regulations of Republic Act No. 9513 (otherwise known as the Renewable Energy Act of 2008). The amendment removes the nationality restrictions on the exploration, development, and utilization of renewable energy resources such as solar, wind, biomass, ocean or tidal energy ...
On November 18, 2022, Ekachai Chotpitayasunon and Kongkoch Yongsavasdikul, partners from Kudun and Partners, together with senior associate, Supatra Kerinsaguna and Warathorn Wongsawangsiri from Herbert Smith Freehills visited Bangkok University as guest lecturers to provide insights on the regulations governing public listed companies and the definition of initial public offering (IPO) and the processes involved in an IPO ...
