Private open-ended fund companies (OFCs) in Hong Kong are subject to regulation by the Securities and Futures Commission (SFC). The SFC has taken a streamlined approach to regulating private OFCs. (I) High degree of flexibility No investment restrictions: Pursuant to the SFC’s revised Code on Open-Ended Fund Companies (OFC Code) all investment restrictions for private OFCs have been removed ...
The internet may be global, but enforcement is always local—and there are plenty of (expensive) ways to find out the wrong way that you should have been doing something where you might not expect it. A typical example is the legal requirement to appoint an EU data protection representative if you’re not based in the EU, or a UK representative if you’re not based in the UK ...
Trimble Inc. v. PerDiemCo LLC, Appeal No. 2019-2164 (Fed. Cir. May 12, 2021) In this week’s Case of the Week, the Federal Circuit revisited its decision in Red Wing Shoe Co. v. Hockerson-Halberstadt, Inc., 148 F.3d 1355 (Fed. Cir. 1998), often cited for the proposition that a patentee does not subject itself to personal jurisdiction in a forum merely by sending correspondence asserting patent infringement by a resident of the forum ...
Preface On 26 April 2021, the Futures Law of the People’s Republic of China (Draft for Consultation) (“Futures Law (Draft)”) was deliberated at the 28th Meeting of the 13th Standing Committee of the National People’s Congress, and was later issued for public consultation on 29 April 2021, receiving keen, widespread interest of the domestic futures industry and the over-the-counter (“OTC”) derivatives market ...
The Court of Appeal has unanimously held that a tenant’s statutory declarations given to landlords were valid even though they did not specify the precise term commencement date of the leases to be contracted out. Landlords will be relieved that the Court of Appeal did not adopt an overly legalistic and commercially impractical interpretation of the contracting-out requirements ...
Stepmother's Day exists, although it is probably not widely celebrated. Most people are probably not aware that there is a Stepmother’s Day, which falls this year on 16 May 2021. It is marked one week after International Mother’s Day, which differs from our British version. Many families are unlikely to celebrate Stepmother’s Day and there may be good reason for that ...
For those of us in the dispute resolution world in construction, one cultural trait that is seen with nearly all contractors is a strong sense to do the job right. Most businesses are small, and closely held. And most contractors carry significant pride in their work product and in keeping their clients happy. That character extends not only to work in progress, but also to resolution of issues related to the work after it is complete ...
Recently,companies that offer platforms for the purchase of shares in foreign companies (“investment tech” or “wealth tech”)to Nigerians have been in a tussle with the Securities and Exchange Commission, Nigeria (“SEC”) over their business activities ...
Recently, several African startups have been making positive impact in their communities leading to a number ofcountriesenactingor planning to establish a Startup Act. In this article, our Oluwapelumi Omoniyi examines the benefits of a Startup legislation and considers if Nigeria’s nascent startup ecosystem needs a startup Act ...
On May 12, Schwabe collaborated with Moss Adams to host a virtual roundtable that explored legal realities around owning and operating a hemp business in Oregon. Schwabe attorneys Lisa Schaures and Joe Hobson were joined by Jacob Crabtree of Columbia Hemp Trading Company, Sunny Summers of the Oregon Department of Agriculture, and Ryan Kuenzi of Moss Adams. Our panelists discussed the evolving nature of the hemp industry at the state and federal level in Oregon ...
Living in Uncertain Times More than a year has passed since our lives were turned upside by the outbreak of COVID-19. Across the globe, millions of people have succumbed to the virus and countless businesses have collapsed. In Thailand, although the loss of life has been relatively low, the pandemic has devastated the country’s economy ...
The Federal Supreme Court of Brazil concluded the judgment of the lawsuit claiming the unconstitutionality of the sole paragraph of article 40, of the Industrial Property Law, referring to the minimum term of validity of patents in Brazil ...
Below, you will find the issue of our Banking and Finance and Capital Markets newsletter for the 1st quarter of 2021, which compiles the most significant news in this area. BANKING AND FINANCE I. Banco de Portugal Banco de Portugal press release on the countercyclical capital buffer for the 2nd quarter of 2021. The countercyclical capital buffer percentage in force from 1 April 2021 will remain at 0% of the total amount of exposures (link) ...
For Mental Health Awareness Week, Caroline Watson, head of Shoosmiths Family Law team, offers practical advice on looking after your emotional wellbeing if you’re going through a divorce or a separation. When someone close to you dies, it’s generally accepted that there are five stages of grief: shock, denial, anger, bargaining, depression and acceptance. Some psychiatrists say that the emotional stages of a relationship breakdown are the same ...
The Superintendence of the Environment, by means of Exempt Resolution No. 805/2021 (E.R. 805), dated April 8, 2021 and published in the Official Gazette on May 7, 2021, has specified the content of the reports to be submitted by the tire Management Systems. Purpose E.R ...
The Competition Commission has published an invitation to comment on its amended guidelines on small merger notification. The guidelines extend the notification of small mergers to those taking place in digital markets, where at least one of the stipulated criteria is met ...
Cap Export, LLC v. Zinus, Inc., Appeal No. 2020-2087 (Fed. Cir. May 5, 2021) The Federal Circuit issued a single precedential patent case this week. The district court set aside a judgement and injunction originally in favor of Zinus and against Cap Export, pursuant to Rule 60(b)(3), in light of apparently fraudulent testimony offered by a critical witness. In a rare decision addressing Rule 60, the Federal Circuit affirmed ...
South Africans’ recent celebration of Freedom Day signalled 27 years of democracy. Through democracy, our Constitution further brought us rights and obligations to guide our rainbow nation, including freedom of expression and environmental rights to protect our environment, health and well-being while focusing on the sustainability of our environment. Although clothing serves a function and a need, for many, luxury clothing is the gold standard of self-expression and success ...
Factual background The taxpayer, Dr Leung, was a medical doctor employed by the Hospital Authority (“HA”). Part of the conditions of his employment was that he was required to be ‘on call’ on certain days including Sundays and public holidays. When ‘on call’, he was obligated, among other things, to be within the physical proximity of the hospital, to be ready to render medical services if the need arose, and to abstain from drinking alcohol ...
Open banking is an emerging financial services model that focuses on the portability and open availability of customer data held by financial institutions. It involves opening up banking systems, particularly customer data, to third parties to allow them provide services directly to customers ...
On 30 April 2021, the State-owned Assets Supervision and Administration Commission of the State Council (“SASAC”) issued the Circular on Matters Related to Further Strengthening the Administration of Financial Derivatives Businesses (《关于进一步加强金融衍生业务管理有关事项的通知》), which follows SASAC's earlier issuance of a circular on the same topic on 13 January 2020 (namely, the Circular on Matters Related to Effectively Strengthening the Administration of Financial Derivatives Businesses (《关于切实加强金融衍生
Dispute ResolutionThreshold to Commence Winding Up Proceedings RaisedBy the Federal Government Gazette Notification No. 4159 dated 22 March 2021, the amount of indebtedness required to commence winding up proceedings under section 466(1)(a) has been fixed at RM50,000.00 with effect from 1 April 2021.This means that a creditor may only commence winding-up proceedings against a debtor company where the debtor company has failed to satisfy a debt owed to the creditor exceeding RM50,000 ...
