The president Correa sent to the National Assembly, the bill of law regarding Public Private Partnerships by the urgent procedure. A new governmental approach is starting to rise regarding private participation in sectors where the State became the sole protagonist ...
Lavery closely monitors new developments in consumer law and is committed to keeping the business community informed of the latest developments in this area of the law by regularly publishing newsletters dealing with new case law or legislative changes which may impact, influence, even transform practices in this area. The issue of accuracy in the advertising of prices by merchants is one which has received considerable attention ...
A few weeks ago now, "CBP" ("U.S. Customs and Border Protection") launched the new "C-TPAT" ("Custom-Trade Partnership Against Terrorism") Portal 2.0. For Canadian exporters who are members of C-TPAT, this requires that they bring themselves up to date without further delay so that they are in compliance on a timely basis with the new requirements and with the Portal's new method of operation ...
Since the Executive Decree N°1793 that was enacted in June of 2009, the investment regulations in Ecuador suffered a 180 degrees change. The limitations of classification to become a supplier to the state, and the mandatory authorization by the public entity for approving the transfer of the shares of the contractor to another company, limited the participation of foreign investors in the economy ...
Financial institutions are moving forward in their multidistrict litigation (“MDL”) lawsuit against Target following the company’s 2013 payment card breach. Last week, a Minnesota federal district court certified a class of approximately 9,000 banks and credit unions that issued payment cards affected by the breach. The ruling is the first to grant class certification in litigation following a payment card compromise.To read the full alert, click here ...
On 23 January 2015, the Supreme Court delivered a judgment concerning the moderation of an invalid non-competition clause in a business transfer agreement. This judgment arose after the Ghent Court of Appeal had refused to moderate a non-competition obligation lasting for period of 17 years.In line with previous case law, the clause was declared absolutely null and void and the Ghent Court of Appeal ruled that the clause could not be mitigated in any way ...
Although the deadline to transpose the Accounting Directive 2013/34/EU into Belgian law elapsed on 20 July 2015, the Belgian legislator failed to transpose the Accounting Directive on time. Nevertheless, Belgium’s Council of Ministers did approve a preliminary draft Act and a preliminary draft royal decree on 19 June. Subject to the Council of State’s further advice, it is likely that the transposition into Belgian law will take place in the coming months ...
In late August 2015, the Federal Trade Commission (“FTC”) announced a settlement with three investment funds managed by Third Point LLC (“Third Point”) for alleged violations of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) involving improper reliance on the “investment only exemption ...
The Fifth Circuit Court of Appeals recently affirmed a district court ruling regarding class certification in a securities class action, Ludlow, et al. v. BP, PLC, et al., stemming from the 2010 Deepwater Horizon explosion in the Gulf of Mexico. The opinion provides several important takeaways for securities class action litigation. To read the full alert, click here ...
Because of the demographic context, the rate of business transfers has been rising steadily in Quebec over the past few years. Whether unexpectedly or as part of a succession plan, certain key employees can show the potential and ambition to take over from the current owner. In this issue ofLavery Business, we look at a number of aspects that are of particular importance when a business is being transferred to its employees or managers ...
Introduction The Competition Commission of India (‘CCI’), has recently issued the Competition Commission of India (Competition Assessment of Legislations and Bills) Guidelines, 2015 (‘Guidelines’)[1]. The Guidelines will come into effect on 1 January 2016. This article intends to provide a brief overview of the Guidelines, as proposed by the CCI ...
The U.S. Securities and Exchange Commission recently adopted a final rule to implement Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to chief executive officer pay-ratio disclosures. Under the Final Rule, a public company must disclose the ratio of the annual total compensation of its chief executive officer to the median of the annual total compensation for all of that company’s other employees ...
TYPES OF LIMITED COMPANIES AND SHARES1. What are the main types of companies with limited liabilityand shareholders? Which is the most common? Which typedo foreign investors most commonly use?The most common types of companies that enjoy limited liabilityare the Sociedad Anónima (SAs) and the Sociedad deResponsabilidad Limitada (SRLs), and these are the main types ofcompanies with limited liability. Joint stock companies (Sociedaden Comandita por Acciones) are also common ...
This Q&A gives an overview of the key factors affecting inward investment, including information on the jurisdiction's legal system; key laws and regulatory authorities; investment restrictions; and details of international treaties, customs and monetary unions ...
As the US diplomatic relationship with Cuba continues on itspath of normalization and the possibility for increased economic opportunitiesfor US companies with the island increase with the potential further looseningof restrictions prohibiting engaging in business in Cuba, US businesses lookingat the Cuban market have begun taking steps to register their trademarks inCuba ...
In a continued effort to implement the policy changesannounced by President Obama on December 17,2014, OFAC and BIS have announced additional amendments tothe CACR and EAR, respectively, which will be published and effective on Monday,September 21, 2015.The regulatory changes discussed below are more in the lineof significant changes made to the regulations since December 17, 2014.Overall, the regulatory changes loosen restrictions on travel to and businessand investment in Cuba ...
With the enactment in May 2014 of the Organic Law for Strengthening and Optimization of the Corporate and Securities Sectors (OLSOCSS), the role of the Corporate, Securities, and Insurances Superintendence (CSIS) were modified. Previously, the CSIS has the assignment of approving ex ante all of the corporate acts that a company wanted to make. However, with the enactment of the OLSOCSS the CSIS went on to have only assignment of monitoring and have ex post control ...
In this article, we provide a brief overview of the most important new rules applicable to Hungarian data protection laws after 1 October 2015. BCRs accepted after 1 October 2015 Binding corporate rules (BCR) have so far not been recognized by Hungarian law and, thus, could not be used whenever personal data were transferred to a non-EEA country ...
In commemoration of the firm’s 70th anniversary, SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) produced a publication about the general guidelines in doing business in the Philippines. It aims to showcase the Philippines as an attractive venue for business ventures and to also guide the businessmen and lawyers alike in their business decision making ...
Environmental groups are attempting to enlist the U.S. Department of Commerce in their fight against fracking operations and climate change by petitioning DOC to ban natural gas exports under the Energy Policy and Conservation Act of 1975 (EPCA).To read the full alert, click here ...
The government's stated approach to transparency in the supply chain provisions is to strike a balance between improving transparency in the supply chain whilst ensuring that businesses take appropriate and proportionate action to tackle modern slavery. The government's response provides useful definitions which are encompassed within the term 'modern slavery' for the purposes of the Modern Slavery Act 2015 ...
On Monday, the Environmental Protection Agency (“EPA”) released its Clean Power Plan (“CPP”), the cornerstone of the Obama Administration’s multi-faceted regulatory approach to address climate change.1 The final rule is centered on reducing CO2 emissions from fossil fuel-fired power plants by 32 percent from 2005 levels by 2030 ...
Writer, Margaret Rouse, describes a social media policy as “a corporate code of conduct that provides guidelines for employees who post content on the internet, either as part of their job or as a private person”. Underestimating the significance of a sound social media policy may lead to dire consequences for an organisation ...
Ahead of the recent election it was no secret that the Conservatives wanted to see a cut in taxpayer support for the development of wind farms. What did come as a surprise was the recent announcement by the Westminster Department of Energy and Climate Change (DECC) that the main form of subsidy for wind farms would suddenly be closed in March 2016 ...
