Last week, 49 state attorneys general announced a $49.5 million settlement with Blackbaud, Inc. (Blackbaud) over the software company’s data-security practices and its response to a breach in 2020 that exposed the personal information of millions of individuals. Blackbaud provides software solutions to nonprofit organizations, including charities, schools and healthcare agencies, to help them connect with donors and manage data about their constituencies ...
The new commercial transactions law (Federal Decree Law 50/2022), which abrogated Federal Law 18/1993, has significantly reduced the period of limitation for initiating action relating to commercial transactions between ‘merchants’ from ten years to five years. Application of the new commercial transactions law The new commercial transactions law applies to merchants and all forms of commercial activities ...
On June 22, 2023, the federal government significantly expanded the reporting requirements for certain so-called avoidance transactions, in particular with respect to termination agreements.1 The new rules will make it easier for the Canada Revenue Agency (CRA) to detect certain avoidance schemes, conduct tax audits and issue notices of assessment and penalties more quickly when warranted ...
In the case 44/2023/ISB delivered on 6th October 2023, the applicant, a majority shareholder in a company requested the Civil Court (Commercial Section) to fix a date for an extraordinary general meeting of the company under Art 132(1) of the Companies Act in an attempt to remove two directors from the Board of Directors without adequately proposing replacements ...
Executive summary The Board overturned the Court of Appeal's decision, holding that an aggrieved shareholder who has agreed to have disputes amongst the shareholders resolved by way of arbitration, must first have such disputes that fall within the ambit of the arbitration agreement determined accordingly before the threshold question of whether the company should be wound up on just and equitable grounds to obtain alternative relief may be addressed ...
On 25 September 2023, in conjunction with the Prudential Regulation Authority, the Financial Conduct Authority published a consultation paper on diversity and inclusion in the financial sector. The proposals include measures to ‘support healthy work cultures, reduce groupthink and unlock talent’, in order to support the competitiveness of the UK’s financial services sector ...
If you have been doing business with entities in the European Union, chances are that you have struggled to figure out how to transfer data from the EU to the US without running afoul of the General Data Protection Regulation (GDPR). You are not alone. The EU and US have struggled to create “adequate” safeguards for the transfer of personal data since 2000. The first set of guidelines, the Safe Harbor Privacy Principles, was adopted in 2000 ...
The Department of Justice (DOJ) hopes to incentivize timely disclosure of misconduct uncovered during the M&A process with the announcement of a Department-wide Safe Harbor policy on October 4, 2023. The policy, which applies across the entire DOJ, shields companies from criminal prosecution for misconduct they discover in companies they are acquiring or have recently acquired ...
Mamo TCV Advocates will once again be participating in MACE, the Malta Aviation Conference & Expo, taking place between the 11th and 12th of October, 2023 at the Hilton, Malta. Dr Nicholas Valenzia, Partner heading the Aviation & Shipping Practice Areas of the firm, Dr Joshua Chircop, Senior Associate, and Dr Aleandro Mifsud, Associate, will be attending the conference ...
As we navigate a rapidly changing digital landscape, upskilling our people continues to be a priority. In response, the innovators at MinterEllison developed Mintcoin, an internal crypto currency designed to reward participation in the firm’s Digital Academy program and innovation initiatives. We’re thrilled to announce that this initiative has secured MinterEllison a spot on the AFRs Most Innovative Companies list for 2023 ...
World Mental Health Day is marked every year on 10 October to raise awareness about mental health issues around the world and to mobilise initiatives to support and protect everyone’s mental health. This year’s theme ‘mental health is a universal human right’ serves as a reminder that good mental health shouldn’t be considered a luxury; it’s a fundamental aspect of our wellbeing ...
A year after auto-enrolment's 10th birthday the government gives the green light to changes which have the potential to extend to workplace pension savings initiative to more workers than ever before ...
The Information Commissioner's Office (ICO) has recently issued updates to assist employers to deal with data subject access requests (DSARs) and workers’ health. Complaints on DSAR non-compliance against employers are on the rise. Between April 2022 and March 2023, the ICO received 15,848 complaints in relation to DSARs, resulting in penalties for organisations in breach ...
Contents Cayman Islands wills Cayman Islands estate administration process Trusts as an alternative Advance healthcare directives Conclusion Cayman Islands wills A will directs how a person's (also known in this context as a “testator”) assets are to be dealt with on their death. and empowers the person’s chosen executors to administer their estate after their death so as to give effect to those wishes ...
The regulatory landscape for AI, in the UK and beyond, is evolving rapidly, with proposed statutory regimes beginning to emerge from legislators across the globe (read more here). What, then, is the current position for employers? Overview of current regime There remains a notable gap when it comes to concrete principles of liability or accountability for AI-generated or -supported outcomes ...
The UK's recent advancements in AI governance have included the publication of an initial review by the UK's Competition and Markets Authority (CMA) regarding AI foundation models. The country’s antitrust watchdog has taken the lead in shaping certain principles, recognising the need to harness AI’s potential while avoiding the pitfalls of unchecked power in the hands of a few tech companies, at the expense of broader competition ...
Trusts are used as a structuring mechanism in a range of legal contexts including wealth and succession planning, pensions, philanthropy, investment funds and various other commercial settings ...
Jersey contracts are not subject to a general duty of good faith and mere silence, without more, cannot amount to a misrepresentation. These were some of the key outcomes of the Royal Court's decision in Hard Rock Limited and Anor v HRCKY Limited [2023] JRC 169. What happened? In 1999, Hard Rock sold to HRCKY the franchise rights to run a Hard Rock Café in the Cayman Islands. The franchise was initially a lucrative operation ...
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On 30 August 2023, the Beneficial Ownership Transparency Bill, 2023 (the Bill) was published, proposing several important changes to the beneficial ownership regime in the Cayman Islands. The Bill is intended to enhance the jurisdiction’s current beneficial ownership regime to ensure compliance with the recommendations of the Financial Action Task Force ...
The recent shock collapse of a number of organisations highlights the risk of non-payment in the current business landscape. It also demonstrates the importance of suppliers proactively protecting their interests and mitigating potential risks so that they are not vulnerable to financial losses as a result of a customer’s non-payment ...
S111A ERA 1996 allows an employer to conduct confidential discussions with an employee to agree terms for the employee’s exit. A decade on from the introduction of this provision, we consider its application in practice and why it remains underused ...
On September 28th, Law 21,614 of the Ministry of Labor and Social Security was published in the Official Gazette (hereinafter the “Law”), which establishes amendments to Law No.21,063, which Creates an Insurance for the Accompaniment of Children Suffering from Diseases as Indicated and Modifies the Labor Code for these purposes (hereinafter “SANNA Law”) ...
Legal professionals live in a world dominated by electronic messages. Most of us can name at least one colleague with carpal tunnel syndrome, a side effect of banging on a keyboard all day trying to stay afloat in an ocean of emails. Email, the default communication mode for professionals, brings all sorts of advantages that make it indispensable. It’s so ubiquitous that we often forget about other options for exchanging information, including the phone. But A.G ...
