On 5 July 2021, the Hong Kong Securities and Futures Commission (SFC) issued a press release which announced that it has reprimanded and fined Mr Raymond Leung Tak Shing (Leung) HK$400,000 for failing to discharge his duties in relation to AML requirements as a member of a licensed firm’s senior management team ...
In a decision that will no doubt come as a great relief to the funds, banking, and asset management industries, the Court of Appeal ruled in Nomura Funds Plc v Collector of Stamp Revenue [2021] HKCA 1040 that a merger effected by way of the universal succession of the merged company (i.e., the surviving company) to the assets and liabilities of the merging company (i.e ...
In our previous article (Cryptocurrency – The Future of Money), we provided an overview of the key ideas behind cryptocurrency. In this article, we look at how cryptocurrency and digital currency might impact the corporate banking and finance market ...
Home Quarantine Now Possible for Ex-Patriates Imagine having the permission to work in a foreign country and yet being unable to do so as you are prohibited from entry. That has been the dilemma faced by many ex patriates who hold Employment Passes but have been unable to enter Malaysia due to the current restrictions in place ...
In our first part of this series, we provided a brief primer on patents. For the second part of our Intellectual Property series, we take a look at trademarks. Trademarks are not generally considered "technology", but the U.S. Patent and Trademark Office ("PTO") is charged with administering them along with patents. Certainly, technology startups must be aware of both of these types of Intellectual Property. The PTO provides a webpage with general information for the public ...
Key PointsThe Infrastructure Investment and Jobs Act (H.R. 3684) passed the Senate with a broad definition of "broker" to target cryptocurrency information reporting to the IRS.Absent amendment, the bill imposes obligations similar to IRS Form 1099-B on various technology providers in the crypto industry, even if they do not broker digital asset transactions and lack the necessary information to comply ...
Yesterday, the California Supreme Court issued an important ruling in a case that had the potential to profoundly affect how public entities budget and pay for publicly funded projects in California, Busker v. Wabtec Corp. (Cal., Aug. 16, 2021,No. S251135) __ Cal.5th __, 2021 WL 3612126 ...
Petunia Products, Inc. owns the BROW BOOST ® trademark, under which it sells a “Billion Dollar Brows” eyebrow primer and conditioner. Petunia recently asserted trademark infringement claims against a skin care products company, which Petunia alleges infringed on its BROW BOOST mark in connection with the name of its product that competes with Petunia’s product, and by using the hashtag #BROWBOOST on social media to promote its product ...
Banking & Finance The Central Bank of Malta Issues Directive 19 on the Use of Cheques and Bank Drafts Directive No 19 ‘on the Use of Cheques and Bank Drafts’ was issued by the Central Bank of Malta on 7th July 2021 with the aim of promoting safe and effective use of cheques and bank drafts drawn on Maltese banks and financial institutions ...
The manufacturer of the official facemask for the Brazilian Football Confederation filed a court action against an e-commerce company, accusing it of offering similar items allegedly manufactured by third parties. The manufacturer of the official facemask for the men’s and women’s teams of the Brazilian Football Confederation (CBF) filed a court action against an e-commerce company, accusing it of offering similar items allegedly manufactured by third parties ...
Under the GDPR, transfers of personal data are permitted without restriction to countries that the European Commission (the "EC") has assessed as providing an "adequate" standard of protection for personal data. The current list of countries considered "adequate" is Andorra, Argentina, Canada (for commercial organisations), Faroe Islands, Guernsey, Israel, Isle of Man, Japan, Jersey, New Zealand, Switzerland and Uruguay and the United Kingdom ...
PersonalWeb Technologies LLC v. Google LLC, Appeal Nos. 2020-1543, -1553, -1554 (Fed. Cir. Aug. 12, 2021) In this week’s Case of the Week, the Federal Circuit affirmed a district court’s judgment on the pleadings that the claims of three patents owned by appellant PersonalWeb were invalid as patent-ineligible under 35 U.S.C. § 101 ...
When I was a young lawyer working for the Norwegian Competition Authority, a complaint was received that gave rise to some amusement among the staff at the authority. The complainant argued that the Norwegian football club Viking FK’s signing of the half-decent footballer Ragnvald Soma from rivalling club SK Brann constituted an infringement of Norwegian competition law. Nowadays, competition law in football is no longer a laughing matter ...
In the 1940s writer and futurologist Isaac Asimov laid down his Three Laws of Robotics. We say it’s time for lawyers to do the same. A flourishing future is ours for the taking, provided we know how to grasp it. At Shoosmiths, we’ve been working on future-facing projects for a good few years now ...
On July 30, 2021, the Central Administrative Court rendered its verdict against, among others, the Director of Wattana District, Bangkok Metropolis; the Governor of Bangkok Metropolis; and the Governor of the Mass Rapid Transit Authority of Thailand, revoking all governmental authorizations with respect to the construction of Ashton Asoke Condominium Project ...
“We are both created and create. Why cannot our own creations also create?” What a week First we heard that a South African patent for an invention that lists artificial intelligence (“AI”) as its inventor had been issued, a world first. Then we heard that an Australian court had handed down a judgment allowing AI to be listed as the inventor of a corresponding patent in Australia ...
Superintendence Resolution Nº 000170-2021-MIGRACIONES, published last August 6, provides for the repeal of Superintendence Resolution Nº 000104-2020-MIGRACIONES (hereinafter, Resolution 104) and provides the following measures: Extension of term.-The term of temporary or resident migratory statuses granted from March 16, 2020, which expired during the validity of Resolution 104, is extended until the entry into force of this resolution ...
