This creates a discretionary exemption regime similar to that in the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020. This is in addition to the list of class exemptions which the Commission has published in its Notice with respect to the disapplication of the requirement to hold a licence under section 40 of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 ...
The Ministry of Immigration and Population of the Republic of the Union of Myanmar has issued a notice that updates the application process to extend eBusiness Visas for foreigners working for companies or engaging in business in Myanmar. All such applications must be submitted in the name of a company that is duly incorporated and registered at the Directorate of Investment and Company Administration (“DICA”) and must have the signature of the director of the registered company ...
However, Fintech is actually just a new term for an old concept that dates back to ancient times. A case in point is the invention of paper in China in the 7th century, a major technological development that paved the way for paper currency, and eventually fiat currency. The development of the payment card systems in the 1950s (e.g ...
When one instructs a painter to draw a portrait (no matter how detailed the instructions may be) the painter will always have discretion in executing the final product. Likewise, in investment funds, the investment manager is instructed to invest according to various rules and timeframes which are detailed in the investment strategy as approved by the competent financial regulator, but there will still remain investment discretion on how the investment strategy is executed ...
SEC Commissioner Hester Peirce (“Peirce”) recently delivered an address on digital assets regulation at the Digital Assets at Duke Conference. The two-day meeting brought together regulators, academics, experts, policymakers, and other key stakeholders in the industry to discuss and debate the future of digital assets and distributed ledger technology (“DLT”) ...
For those engaged in the financial services sector, these seven letters often pave the way to difficult decisions, reprioritisation of projects and occasionally, an awkward shuffle in the seat. On receipt of their own Dear CEO letter from Unite the Union, I have no doubt that there has been a lot of awkward shuffling around the management tables at the FCA. The letter to Rikhil Rathi (CEO of the FCA) was sent on February 1 and it cannot make for comfortable reading ...
The impact that Artificial Intelligence (“AI”) is making on investment services has been the subject of a recent publication, dated 1st February 2023, which was issued by the European Securities and Markets Authority (“ESMA”) ...
On February 1, 2023, the China Securities Regulatory Commission ("CSRC") started soliciting public feedback on the draft Administrative Measures for the Registration of Initial Public Offerings ("Draft Administrative Measures") and other major rules of the registration-based share offering scheme ...
In the decision Beijing Judian Restaurant Co. Ltd. v. Wei Meng, 2022 FC 743, rendered by the Honourable Angela Furlanetto on May 18, 2022, the Federal Court clarified what constitutes bad faith in trademark law. Prior to the decision, the concept of bad faith in relation to trademarks was interpreted rather cautiously in Canadian jurisprudence. Background Beijing Judian Restaurant Co. Ltd ...
The idea of achieving purpose alongside profit has been part of the business world for centuries, but the importance placed on it has reached new heights in recent years. How can charities help? “In every corner of our lives and our country, civil society can be found ...
Instruction No. 2520 GDT on the Adjustment on the Implementation of Value Added Tax on E-Commerce Transactions (Instruction 2520) was issued by the General Department of Taxation (GDT) on the 24th of January 2023. Instruction 2520 repeals the earlier Instruction 20522 on the Implementation of Value Added Tax on E-Commerce that was issued on the 8th of December 2021 ...
1. Background and Rationale The Thai financial market has been revolutionized by rapid changes in technology, particularly, with the advent of distributed ledger technology (“DLT”) and digital assets in recent years. This has led to a surge of interest from traditional investors and corporate entities, both small and large, eager to participate in this dynamic market. These technologies have been driving financial innovation and progress ...
Your biometric data tells the tale of who you are in intricate detail. Often, your biometric data is used to verify your identity at work or school. Currently, Illinois has the most comprehensive biometric privacy law in the country with the Illinois Biometric Information Privacy Act. Maryland and Mississippi look to join Illinois in protecting their citizens’ biometric data ...
With cybersecurity risks increasing and evolving moving into 2023, the federal government is taking steps to help secure our cyber infrastructure. The recent passing of the 2023 omnibus spending agreement included additional funds for a variety of federal agencies in order to strengthen our cybersecurity apparatus. The Cybersecurity and Infrastructure Agency (“CISA”) received $1.3 billion for its cybersecurity programs. This is a $230 million increase over last year ...
The U.S. does not have a federal data privacy law. In the absence of an all-encompassing data privacy law, the U.S. has a myriad of individual state privacy laws. The significant state data privacy laws that are often used as models are the California Privacy Rights Act (which amends that California Consumer Privacy Act), the Virginia Consumer Data Privacy Act, the Colorado Privacy Act, and the Illinois Biometric Information Privacy Act ...
On January 20, 2023, Governor Glenn Youngkin announced that Amazon Web Services (“AWS”) plans to invest $35 billion by 2040 to establish multiple data center campuses across Virginia, pending legislative approval. Numerous localities in the Commonwealth are under consideration, and although none have been selected, residents in Northern Virginia have voiced concerns ...
This newsletter features a look into Finnish competition law developments and recent enforcement practice. 2023 starts with reforms in Finnish merger control Lower turnover thresholds enter into force Revised merger control turnover thresholds entered into force in Finland on 1 January 2023. The thresholds are applicable to all transactions signed on or after this date ...
General Trends – EU & international tax > Click here for more details 2022 was another year rich in tax developments in Luxembourg and Europe. In an exceptional economic and geopolitical context, the European institutions continued to launch and implement international tax initiatives ...
Rising interest rates, inflation, and a global economic slowdown create the perfect storm, pushing some companies into financial distress. These conditions can also create opportunities for investors to make strategic acquisitions of distressed assets ...
The importance of the UAE as a trading and consumer goods hub resulted in a protective approach of the authorities towards distributors and franchisees. The UAE Federal Law No. 18 of 1981 on Commercial Agencies (Old Law) was drafted with the intent of protecting the interests of UAE nationals (and companies wholly owned by UAE nationals), and was protective towards the interests of registered commercial agencies ...
