The story of the Captain Tom Foundation reinforces the basic point that a charity should not be established for the purpose of making money for private gain, even if that would not be the only reason for setting one up. For those of us who have been sitting in a tin can far above the world, by way of a brief recap in April 2020 Captain Tom inspired the nation, completing the challenge of walking 100 laps of his garden whilst recovering from illness and in tribute to the NHS ...
In this edition, we offer a diverse range of content: First, we present an update on an upcoming case before the Supreme Court concerning section 36 of the Contracts Act. We will also provide some insights from a recent Supreme Court ruling on the insurance condition regarding sudden and unforeseen physical damage. Additionally, we discuss significant takeaways from the appeals judgment in the Dutch Shell case ...
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against enforcement of the Corporate Transparency Act (“CTA”).[1] The CTA, and its Reporting Rule, were set to require approximately 32.6 million existing reporting companies to file beneficial ownership information (“BOI”) reports with FinCEN by January 1, 2025 ...
Bermuda Insurance Litigation Guide 2025 (Chambers) Contents Rules governing insurer disputes Jurisdiction and choice of law Arbitration and insurance disputes Coverage disputes Claims against insureds Insurers’ recovery rights Impact of macroeconomic factors Emerging risks Significant legislative and regulatory developments 1 Rules governing insurer disputes 1 ...
Carey Olsen's FinTech practice ranked Band 1 in Chambers 2025 guide The firm's Bermuda and Jersey FinTech practices have retained their Band 1 position, as have partners Steven Rees Davies (Bermuda), Chris Duncan (Cayman Islands) and Christopher Griffin (Jersey). Steven Rees Davies is praised in the guide as being "able to understand FinTech regulatory detail beyond the words that are written and from the client's perspective" ...
The Office of the Small Business Commissioner has announced the New Fair Payment Code. This is now open for businesses to apply to the new Code and it replaces the Prompt Payment Code which was introduced in 2015. Following on from our article on Payment Terms in Supply Chains (Payment Terms – what are the current rules and those coming down the track), we now have clarity on what is included in the new Fair Payment Code ...
The European Blockchain Sandbox (the ‘Sandbox’) is a pan-European dialogue between innovators who come up with particularly interesting, original and useful applications for blockchain technology, and the relevant regulatory authorities that would be involved in such a project. The Sandbox is running from 2023 to 2026 and each year is supporting 20 use cases on the European Blockchain Services Infrastructure (EBSI) ...
Stay up-to-date with the ****latest developments in labour law related to employee remuneration****. These updates are essential for ensuring accurate payroll calculations, particularly in cases of employment termination, and for aligning local regulations with current legal requirements. New Minimum Wage Effective January 1, 2025, a revised minimum wage for a standard monthly work schedule will come into force ...
Hot on the heels of the Non-Domestic Rating Act 2023 coming into force, the new government announced preliminary steps in its Autumn Budget to reform the business rates system. The key changes introduced by the Act, combined with the proposals outlined in the Budget, are set to have a major impact on businesses in the coming years ...
SyCipLaw has contributed the Philippine chapter in the latest edition of The Legal 500: International Arbitration Comparative Guide. Senior Partner and Head of Litigation Department Ricardo Ma. P.G. Ongkiko co-authored the chapter with Partners Anthony W. Dee, John Christian Joy A. Regalado, and Ma. Patricia B. Paz-Jacoba ...
Siri comes to us from her role as a private practice lawyer at Legal in Stavanger. With more than two decades of experience as a corporate lawyer, she has worked with major international entities in the oil and gas sector, including Aker Solutions, Subsea 7, Aibel, and Archer. Additionally, Siri led the contracts and legal department for Acergy’s Asia and Middle East region in Singapore for a period ...
Family offices which choose to manage their global investments from Malta have been given a new legal exemption through a recent amendment in the applicable investment services rulebook of the Malta Financial Services Authority (“MFSA”). On the 27th of November 2024, the MFSA issued a circular titled “Establishment of Single Family Offices in Malta” ...
Crypto currencies (also known as crypto assets) have seen rapid development since Bitcoin's emergence during the financial crisis in 2008. Due to their anonymity and privacy, crypto currencies are widely used for illegal and criminal activities and serve as a tool to evade judicial accountability. In response to the increasingly frequent criminal cases involving crypto currency, Chinese governments grapple with the complexities of judicial disposal at both policy and practice levels ...
The presidential and congressional campaigns brought considerable disagreement on a number of platform issues that were constantly in the daily news cycle. Each brings their potential political polarization, yet we heard less about economic development incentives that often bring bipartisan support. Many of these vehicles lead to accomplishing the common goals of stimulating economic development and community revitalization ...
Enforcement priorities frequently change with administrations, but the recent presidential election may produce a sea change for corporations. Over the last four years, the Department of Justice (DOJ) has focused on corporate financial misconduct and created incentive programs to encourage whistleblowing. This strategy builds on the civil False Claims Act (FCA), which includes a qui tam provision allowing private citizens to sue on behalf of the government and share in any recovery ...
Carey Olsen lawyers recognised in IFLR1000 2024 Caribbean rankings Among those featured, Carey Olsen has seven individuals considered to be 'Highly Regarded', one 'Rising Star Partner', three 'Notable Practitioners' and three 'Rising Stars' ...
SyCipLaw has shared its insights in Conventus Law's Special Report on "Navigating Business Ventures in the Philippines: Your Questions Answered." The special report, authored by Senior Partner and Corporate Services Department Head Imelda A. Manguiat and Associate Leo Francis F ...
There are more than 35 compliance companies duly registered and regulated by the Panamanian Superintendence of Non-Financial Regulated Subjects. To help eradicate from our country the crimes of corruption, tax evasion and money laundering, to improve our international image as a financial center and to get out of the grey listings of the EU and OECD, among other reasons, a new industry has been formed, generating qualified and highly specialized jobs: the regulated compliance companies ...
Metro Bank PLC was fined £16,675,200 (after a 30% discount) by the Financial Conduct Authority for failings in its transaction monitoring systems and controls. The FCA found that the bank’s failures led to the risk it was inadvertently being used for the purposes of financial crime. Key facts: Metro Bank PLC implemented an Automated Transaction Monitoring System (“ATMS”) to monitor customer transactions ...
Our final article in this series discussing different protected characteristics and the discrimination claims they give rise to, focuses on age, how employers can fall foul of the law and the steps they need to take to avoid age discrimination claims. What is age discrimination? The Equality Act 2010 prohibits both direct and indirect age discrimination, as well as age related harassment and victimisation ...
Blockchain 2024 - Bermuda (Legal 500) 1. Please provide a high-level overview of the blockchain market in your jurisdiction ...
November 15, 2024 By: Artin Betpera, Christina Morgan and David Liu I. Introduction Any business operating a website needs to be aware of the proliferation of lawsuits targeting websites which use any type of customer tracking technology. While advantageous to the business in its marketing efforts, the data collection subjects the business to potential liability ...
The question of who bears the loss suffered as a result of a business email compromise was answered by the Western Cape division of the High Court in the recent judgment ofGripper & Company (Pty) Ltd v Ganedhi Trading Enterprises CC. Background Facts Gripper & Company (Pty) Limited (“Gripper”) and Ganedhi Trading Enterprises CC (“Ganedhi”) have been dealing with each other since 2014 ...
Essential facts: state of mind and accessory liability for company directors At first instance and before the Court of Appeal, the Claimant, Lifestyle, successfully argued that the defendant company and two of its directors were jointly liable for trade mark infringement, and the directors had been ordered to account for profits made by them in connection with the company's infringements ...
