Charities face challenges on many fronts right now, but one silver lining to the cost-of-living crisis is the popularity of charity shops, especially among younger people. Today sees the launch of Charity Super.Mkt at the Brent Cross Shopping Centre in North London, a great illustration of necessity being the mother of invention, meeting the demand for sustainable fashion and bringing life back to vacant retail space. Charity Super ...
The UAE commercial agency regime has been a central pillar of commerce since the issuance of UAE Federal Law 18 of 1981 (the 1981 Law). While piecemeal amendments to the 1981 Law have been introduced from time to time, the UAE government has now issued UAE Federal Law 3 of 2022 concerning commercial agencies (the New Agencies Law) which repeals and replaces the 1981 Law in its entirety ...
“What’s in a name? That which we call a rose by any other name would smell just as sweet.” – William Shakespeare What’s in a name? From a Cambodian tax perspective, it would seem quite a lot. On the surface, Instruction 30408 “On the Implementation of Advance Tax on Dividend Distribution,” issued by the General Department of Taxation (GDT) on 14 December 2022 seems quite innocuous ...
Dr Nicholas Valenzia, head of the Shipping and Aviation Practice Area at the firm, was invited to speak at the National Aviation Conference which was organised by the Ministry for Transport, Infrastructure and Capital Projects on the 18th of January 2023 at the Phoenicia Hotel in Floriana. Dr Valenzia discussed the aircraft financing and leasing market in Malta and the challenges to enhancing sectorial capacity and improving socio-economic benefits ...
Contents Risk analysis in an evolving market Complex fund structures Typical structures in our jurisdictions Legal perspective Waiver of commitments Market risk Competition in the market Concentration risk Liquidity risk ESG risks Conclusion Risk analysis in an evolving market Despite being a relatively long-standing lending product, there have been limited public payment defaults by funds in the fund finance space ...
We are pleased to issue our third edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space ...
This inBrief highlights the different aspects of venture capital, animportant source of raising money for start-up companies which donot have access to capital markets. We discuss the different types ofventure financing through which start-ups can raise money andwhich are taken into account when assessing valuations ...
This is the second article in our series about sponsor licences. This article focuses on the effect of an acquisition on a sponsor licence. When selling or acquiring a company that already holds a sponsor licence, certain reporting duties will arise in relation to that transaction ...
This is the first of three articles in our series on sponsor licences. This article focuses on how to obtain a sponsor licence as a Start-up business. In the eyes of the Home Office, a Start-up is a company that has been operating or trading in the UK for less than 18 months on the date that they make a sponsor licence application ...
By choice or regulation, the future of the maritime industry bends toward decarbonization. The industry contributes (by one estimate) almost 3% of global greenhouse gas emissions and depends on one of the dirtiest energy sources, bunker fuel. But cleaner alternatives are on the horizon for everyone. Companies that commit to decarbonization early have an opportunity to drive change instead of reacting to it ...
Introduction On 22 December 2022, the Malta Financial Services Authority (‘MFSA’ or ‘the Authority’) issued a stakeholder consultation on the proposed establishment of a new framework for Notified Professional Investor Funds (‘NPIFs’). The NPIF framework proposal seeks to introduce a new fund structure, complementing the existing fund frameworks in Malta ...
On 2 January 2023, three pieces of federal legislation came into effect which, if implemented as envisaged, will arguably make the most significant changes to litigation in the on-shore Dubai Courts since the UAE was established ...
Following the Court of Justice of the European Union (the "CJEU") ruling which invalidated the "public access" feature of the Luxembourg Register of Beneficial Owners (the "RBE"), the Ministry of Justice required Luxembourg Business Registers (the "LBR") to immediately suspend all public access to the RBE pending the introduction of access rights more in line with the conclusions of the CJEU’s ruling ...
In response to the pandemic, the Canadian government launched in the spring of 2020 the Canada Emergency Wage Subsidy (the ?CEWS?), a program that provides employers with a subsidy based on the remuneration paid to their employees and income they lost during the pandemic. Section 125.7 of the Income Tax Act (the ?ITA?) sets out how the subsidy is to be calculated, and likely caused problems for those who had to interpret this ambiguous provision without supporting doctrine or jurisprudence ...
On January 19, 2023, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here. The deadline for comments on the proposed rule is March 20, 2023. Comments can be submitted online at Regulations.gov or in writing to Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex C), Washington, DC 20580 ...
On January 5, 2023 the SEC announced a settled Administrative Proceeding with Randy Robertson. Mr. Robertson previously served as the co-portfolio manager for the BlackRock Multi-Sector Income Trust (“BIT”). While serving as the co-portfolio manager for BIT, Mr. Robertson explored the possibility of a BlackRock investment opportunity regarding a potential secured lending investment relating to print and advertising expenses associated with film distribution. Mr ...
On January 16, 2023, the Commission for the Financial Market (“CMF”) announced the beginning of the implementation of Law No. 21,521, known as the “Fintech Law”, which will come into force on February 3, 2023. The entry into force of the Fintech Law is an extremely relevant milestone for the financial industry since, among other things, it establishes a regulatory framework for services based on Fintech technologies that were not regulated by our legislation ...
The Online Safety Bill is to be amended to include an offence for officers or senior managers of key tech companies who fail to comply with duties to protect children online. As currently drafted, the offence will apply to senior managers and officers (or those purporting to fulfil such functions) of "user-to-user services" (better known as social media sites, but they could include many online businesses, including forums, online gaming sites and cloud storage providers) ...
On November 22, 2022, the State Administration for Market Regulation ("SAMR") issued for public comments a draft revision to the Anti-Unfair Competition Law of the People's Republic of China (the "Draft Revision", the "AUCL"), which reflects the government's ongoing efforts against unregulated unfair competition activities emerging in tandem with fast-evolving market forces that continue to give rise to new business forms and models ...
Matters of cross-border company mobility are addressed at European Union level by means of Directive (EU) 2017/1132 (the “2017 Directive”) which provides for cross-border mergers and domestic divisions of public limited liability companies ...
On 19 October 2022, the Council of the EU announced that political agreement (the ‘Political Agreement’) had been reached with the EU Parliament on the review of the Regulation on European long-term investment funds (the ‘ELTIF Regulation’) ...
Overview On 4 November 2022, the Ministry of Commerce of Cambodia issued two new regulations, namely, Prakas 226 on the Formalities and Procedures of Inspection and Investigation under the Law on Competition (“Prakas 226”) and Prakas 227 on the Conditions and Procedures of Negotiated Settlement under the Law on Competition (“Prakas 227”) ...
