On 30 September 2024, China's State Council announced the finalizedRegulation for theAdministration of Network Data Security(《网络数据安全管理条例》, "Network Data Regulation"), which will take effect on 1 January 2025. This regulation provides a framework for personal information (PI) protection, cross-border data transfers, network data security management and the responsibilities of internet platform providers ...
Working time’ for National Minimum Wage (NMW) purposes can cause a real headache for employers and the case law in this area continues to develop as (travel) time moves on. The National Minimum Wage Regulations 2015 (SI 2015/621) (NMW Regulations 2015) define various types of ‘work’ which includes ‘time work’ ...
On the 7 October 2024, the Financial Conduct Authority (‘FCA’) published a ‘Dear CEO letter’ to Payment Service Providers (‘PSPs’) impacted by the mandatory reimbursement requirements for victims of authorised push payment fraud (‘APP’) ...
Jersey investment funds – autumn 2024 update Jersey Financial Services Commission - Recent changes to the Jersey Private Fund Guide On 2 July 2024, following a collaboration with the Jersey funds industry, the Jersey Financial Services Commission (“JFSC”) published an updated version of the Jersey Private Fund Guide (“JPF Guide”) with the goal of improving the Jersey Private Fund (“JPF”) regime (see here) ...
Bermuda investment funds – autumn 2024 update Bermuda Monetary Authority Investment Fund statistics (Q2 2024) Bermuda continues to consolidate its status as a leading international financial centre with growth in the investment funds sector during Q2 2024. The Bermuda Monetary Authority (the “BMA”) has published its Q2 2024 Investment Fund Statistics (see here), which indicate an increase in both the total number of funds and the net asset value (NAV) of those funds ...
British Virgin Islands investment funds - autumn 2024 update British Virgin Islands Financial Services Commission statistics Q2 2024 The British Virgin Islands (the “BVI”) Financial Services Commission (“FSC”) has published its Statistical Bulletin for Q2 2024 (see here, with ‘Investment Business’ statistics at page 17 and ‘Funds’ statistics at page 18) identifying progress made in different sectors of the Financial Services industry, including
Guernsey investment funds – autumn 2024 update Guernsey funds statistics The Guernsey Financial Services Commission (“GFSC”) has published its Investment Statistics Summary for Q2 2024 (see here). The full statistics can be viewed here, but the key statistics are as follows: Guernsey funds The total net asset value of Guernsey funds at the end of the quarter was £295.7 billion, an increase over the quarter of £3.2 billion (+1.1%) ...
Cayman Islands investment funds – autumn 2024 update Beneficial ownership for Cayman Islands Monetary Authority (“CIMA”) registered funds – updated requirements On 31 July 2024, the Cayman Islands Beneficial Ownership Transparency Act, 2023 (“BO Act”) and the accompanying Beneficial Ownership Transparency Regulations, 2024 (“BO Regulations”) were brought into force (see here for the BO Act, and here for the BO Regulations) ...
Tine Renate Granlund has core expertise in real estate, construction law, and dispute resolution/litigation. She assists contractors at all stages of property development projects – from problem-solving in the early phase, drafting contracts, and handling challenges along the way to disputes that may arise subsequently ...
This article is part of our EU AI Act series which explores the effect of the AI Act across various industries and sectors. Artificial Intelligence (AI) has revolutionized various industries, garnering considerable hype and widespread discussion. As AI technologies continue to evolve, their integration into various industries has profound implications, particularly for the labour market ...
In our eighth article in the series focusing on the risk of discrimination in the workplace, we consider the protected characteristic of disability, the common issues that arise and what employers can do to avoid discrimination claims. What is disability discrimination? Disability discrimination occurs where a job applicant or employee is treated less favourably because of their disability ...
Under 35 U.S.C. § 101, patent claims may be challenged if they are found to be directed to patent ineligible subject matter, such as laws of nature, natural phenomena, products of nature or abstract ideas. On September 9, 2024, in Contour IP Holding LLC v. GoPro, Inc., the United States Court of Appeals for the Federal Circuit provided additional clarity with respect to the application of § 101 ...
October 3, 2024 By: Daniel Silva and David Wilson On September 6, 2024, Wynn Las Vegas (“Wynn LV”) agreed to forfeit over $130 million to resolve a criminal investigation into the gaming giant’s suspected violated federal anti-money laundering (“AML”) laws. Daniel Silva, a Buchalter Shareholder and former federal prosecutor, led the investigation from its inception in 2014 while working at the U.S. Attorney’s Office for the Southern District of California ...
A recent High Court decision has important implications for commercial real estate owners considering taking enforcement action against defaulting tenants, particularly during unprecedented situations or in connection with newly enacted legislation ...
While in power, the Nazis ruthlessly engineered the theft of hundreds of thousands of artworks and other cultural property from their victims.[1] During and after World War II, a significant number of these pieces made their way to museums, galleries and private collections in the U.S. This led to civil litigation in U.S. courts when the Nazis' victims and their heirs sought the restitution of these artworks ...
PROOF OF INCAPACITY: ANALYSIS OF CIUSSS DE L?OUEST-DE-L?LE-DE-MONTREAL (ST. MARY?S HOSPITAL CENTER) v. RC 1 Summary The authors comment on this decision rendered on September 20, 2024, in which the Court of Appeal ruled on the capacity to consent to care in the presence of a psychiatric disorder ...
Administration of Bermuda's Corporate Income Tax In August 2024, Bermuda’s Ministry of Finance published a public consultation paper setting out certain proposed compliance obligations for Bermuda corporate taxpayers including certain anticipated procedural requirements with respect to registration, tax return filings, and payment of taxes ...
Establishment of Bermuda’s Corporate Income Tax Agency Following the enactment of Bermuda’s Corporate Income Tax Act (the “CIT Act”) in December 2023, in July 2024, the Government of Bermuda passed the Corporate Income Tax Agency Act (the “Agency Act”) which, among other things, (i) establishes the Bermuda Corporate Income Tax Agency (the “Agency”); (ii) sets out the functions and powers of the Agency with respect to administration of the CIT Ac
Administration of Bermuda's Corporate Income Tax Act 2024 In August 2024, Bermuda’s Ministry of Finance published a public consultation paper setting out certain proposed compliance obligations for Bermuda corporate taxpayers including certain anticipated procedural requirements with respect to registration, tax return filings, and payment of taxes ...
In a long-awaited decision, the Pennsylvania Supreme Court has held that “direct physical loss” language in commercial property policies is not ambiguous and that COVID-related business-interruption claims do not trigger the insuring clause of these policies. Based on this ruling, business interruption claims filed for losses caused by pandemic-related closures are not covered under standard commercial property policies ...
The rules on the duration and termination of insurance contracts governed by Belgian law have often been found overly formalistic and complex, especially by consumers. Save for a few exceptions, the duration of non-life insurance contracts can, in principle, not exceed one year. Instead, such contracts are tacitly renewed for successive one-year periods, subject to a notice for termination or objection to the tacit renewal being made by one of the parties ...
September 30, 2024 By: Akana K. Ma A Changed Regulatory Environment - Companies who think that U.S. export controls and sanctions do not apply to their products and channels of trade should reassess that position. As an example, approximately US$1.1 billion in fines levied during the last 15 months by the U.S ...
Legislative regulation of platform employment and implications for business ****Platform employment**** is a relatively new sphere, which is just beginning to be regulated. In December 2023, Federal Law No. 565-FZ “On the Employment of the Population” was adopted, which for the first time introduced the concepts of ****“platform employment”**** and ****“self-employment”**** into the ****legal field**** ...
Licensing under the POI Law “Controlled investment business” Carrying on controlled investment business involves three elements: engaging in a “restricted activity”; which is in connection with a “controlled investment”; and which is done by way of business ...
