This newsletter features a look into Finnish competition law developments and recent enforcement practice. 2023 starts with reforms in Finnish merger control Lower turnover thresholds enter into force Revised merger control turnover thresholds entered into force in Finland on 1 January 2023. The thresholds are applicable to all transactions signed on or after this date ...
General Trends – EU & international tax > Click here for more details 2022 was another year rich in tax developments in Luxembourg and Europe. In an exceptional economic and geopolitical context, the European institutions continued to launch and implement international tax initiatives ...
Rising interest rates, inflation, and a global economic slowdown create the perfect storm, pushing some companies into financial distress. These conditions can also create opportunities for investors to make strategic acquisitions of distressed assets ...
The importance of the UAE as a trading and consumer goods hub resulted in a protective approach of the authorities towards distributors and franchisees. The UAE Federal Law No. 18 of 1981 on Commercial Agencies (Old Law) was drafted with the intent of protecting the interests of UAE nationals (and companies wholly owned by UAE nationals), and was protective towards the interests of registered commercial agencies ...
Canadian Lawyer By Tim Wilbur Cecilia Barnes knew from an early age she wanted to be in business. She entered law school so she could work with entrepreneurs and business executives. When Barnes looked for opportunities after graduating, she focused on working in-house. “I thought, I've taken all of these courses in business and trademark and copyright. So, any company is going to be so excited to have me ...
On the 27th of December 2022 the Accounting and Auditing Regulator (“ACAR”) issued a reminder regarding the submission obligations relating to the 2022 financial statements of enterprises in Cambodia. In summary enterprises that are not required to obtain an external independent audit of their 2022 financial statements are required to submit their 2022 financial statements to ACAR by the 15th of April 2023 ...
This is the third article in our series about sponsor licences. This article focuses on the effect of insolvency on a sponsor licence. Businesses are facing challenging times in the current economic downturn and insolvency is a real possibility for many, with 5,595 company insolvencies in the third quarter of 2022[1] alone. If a business is on the brink of insolvency this will potentially have an impact on any sponsorship licences held within the company group ...
Charities face challenges on many fronts right now, but one silver lining to the cost-of-living crisis is the popularity of charity shops, especially among younger people. Today sees the launch of Charity Super.Mkt at the Brent Cross Shopping Centre in North London, a great illustration of necessity being the mother of invention, meeting the demand for sustainable fashion and bringing life back to vacant retail space. Charity Super ...
This article looks at current trends and influences and how we expect them to impact the market in 2023. Whilst the market rebounded tremendously following COVID-19, it is now facing fresh challenges with rising interest rates, inflation and increased regulation featuring heavily on board room agendas. It was a slower end to 2022 compared to last year, but this unrest will no doubt present opportunities (as well as risks) in the coming year for lenders and businesses alike ...
“What’s in a name? That which we call a rose by any other name would smell just as sweet.” – William Shakespeare What’s in a name? From a Cambodian tax perspective, it would seem quite a lot. On the surface, Instruction 30408 “On the Implementation of Advance Tax on Dividend Distribution,” issued by the General Department of Taxation (GDT) on 14 December 2022 seems quite innocuous ...
Pensions analysis: On 16 December 2022, the Pensions Regulator (TPR) published its consultation on the new defined benefit (DB) funding code of practice together with a response to its first consultation and a consultation on its proposed twin track regulatory approach to assessing valuations including its proposed Fast Track design. Suzanne Burrell, partner at Shoosmiths examines the consultation and its implications ...
FinTech is important to the financial services sector in both India and the UK. A trade agreement could facilitate FinTech growth and deepen trade between the two countries. Kiran Desai, Head of Shoosmiths Brussels is joined by colleague Prakash Kerai to host Prashanth Ramdas of Khaitan & Co ...
Contents Risk analysis in an evolving market Complex fund structures Typical structures in our jurisdictions Legal perspective Waiver of commitments Market risk Competition in the market Concentration risk Liquidity risk ESG risks Conclusion Risk analysis in an evolving market Despite being a relatively long-standing lending product, there have been limited public payment defaults by funds in the fund finance space ...
The UAE commercial agency regime has been a central pillar of commerce since the issuance of UAE Federal Law 18 of 1981 (the 1981 Law). While piecemeal amendments to the 1981 Law have been introduced from time to time, the UAE government has now issued UAE Federal Law 3 of 2022 concerning commercial agencies (the New Agencies Law) which repeals and replaces the 1981 Law in its entirety ...
This inBrief highlights the different aspects of venture capital, animportant source of raising money for start-up companies which donot have access to capital markets. We discuss the different types ofventure financing through which start-ups can raise money andwhich are taken into account when assessing valuations ...
This is the second article in our series about sponsor licences. This article focuses on the effect of an acquisition on a sponsor licence. When selling or acquiring a company that already holds a sponsor licence, certain reporting duties will arise in relation to that transaction ...
We are pleased to issue our third edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space ...
This is the first of three articles in our series on sponsor licences. This article focuses on how to obtain a sponsor licence as a Start-up business. In the eyes of the Home Office, a Start-up is a company that has been operating or trading in the UK for less than 18 months on the date that they make a sponsor licence application ...
Introduction On 22 December 2022, the Malta Financial Services Authority (‘MFSA’ or ‘the Authority’) issued a stakeholder consultation on the proposed establishment of a new framework for Notified Professional Investor Funds (‘NPIFs’). The NPIF framework proposal seeks to introduce a new fund structure, complementing the existing fund frameworks in Malta ...
Introduction A convertible loan is considered a hybrid instrument as it is neither debt nor equity. Whether it is accounted for as debt or equity depends on the terms of the loan. Convertible loans typically carry interest and have a fixed maturity date, but other varieties also exist. Conversion is triggered by the lender, the borrower or automatically upon the occurrence of a trigger event. The conversion price is pre-agreed and can be fixed or subject to a pre-agreed pricing mechanism ...
On 2 January 2023, three pieces of federal legislation came into effect which, if implemented as envisaged, will arguably make the most significant changes to litigation in the on-shore Dubai Courts since the UAE was established ...
