Roskomnadzor (Russian Data Protection Authority) plans to make it easier for personal data subjects to revoke consent to the processing of personal data Roskomnadzor proposes making it possible to ****revoke consent**** to the processing of personal data “in one click” ...
On July 2, 2024, the Central Bank of Chile ("BCCh") amended Chapters III.J.1, III.J.1.1, III.J.1.3, and III.J.2 of the Compendium of Financial Regulations (the "Compendium") governing the issuance and operation of payment cards. These modifications aim to reformulate the regulations applicable to Payment Processing Service Providers ("PSP") and include two new business models that previously lacked regulation ...
The Corporate Sustainability Reporting Directive (CSRD), an EU regulatory framework which came into force in January 2023, will replace and enhance the Non-Financial Reporting Directive (NFRD), demanding a broader range of companies to disclose detailed data on environmental, social and governance (ESG) factors, in accordance with the European Sustainability Reporting Standards (“ESRS”) ...
Six Carey Olsen partners named top offshore lawyers by Asia Business Law Journal The list identifies outstanding offshore legal professionals based on extensive research conducted by ABLJ, with nominations made by in-house counsel and other business and legal professionals at a wide range of global companies and law firms across the world. Michael Hanson JP is Carey Olsen's group managing partner based in Bermuda ...
Back in February 2023, The British Private Equity and Venture Capital Association (BVCA) revised and relaunched its model documents for early-stage investments. The model documents are widely used throughout the growth company ecosystem in the UK and provide a basis for the constitutional arrangements of most privately held businesses backed by institutional growth capital at all stages - from seed to pre-IPO ...
In this article we look at some of the key factors that influenced deal term trends through analysing the many transactions Shoosmiths advised on over the last year. For the third successive year Shoosmiths remained the UK’s most active law firm advising on mergers and acquisitions (according to Experian MarketIQ), acting on over 400 deals worth over £7bn in 2023 ...
Greenwashing is a form of marketing that misrepresents a product, service or practice as having positive environmental effects,1 thereby misleading consumers and preventing them from making an informed purchasing decision.2 Several initiatives have been launched around the world to counter this practice. In California, a law requires business entities to disclose information in support of environmental claims ...
The Supreme Court has overturned the Chevron Doctrine–a four decade-old ruling that enabled Federal agencies, including the Internal Revenue Service (“IRS”), to interpret ambiguous laws passed by Congress, and to have such interpretations enjoy a significant degree of deference ...
Carey Olsen announces 12 senior promotions across the group Those promoted to counsel are: Nigel Smith (Litigation, Cayman Islands) Pierre Ali-Noor (Litigation, Jersey) Elizabeth Le Guillou (Trusts and Private Wealth, Jersey) Thomas MacAdie (Corporate, Jersey) Ashley Morrison (Corporate, Jersey) Those promoted to senior associate are: Daniel Long (Corporate, Guernsey) Edward Kelleher (Corporate, Jersey) Catriona Urquhart (Corporate, Jersey) Harry Hadjiyannis (Corporate, London
Shoosmiths’ Commercial Energy and Mobility partner, Chris Pritchett moderated a panel discussion on the progress towards net zero adoption in passenger vehicles at the recent SMMT International Automotive Summit 2024. An overarching theme applying to all sessions across the day was the industry roadmap for the transition to net zero ...
“The deference that Chevron requires of courts reviewing agency action cannot be squared with the [Administrative Procedures Act].”[1] The Administrative Procedures Act[2] (the “APA”) is a federal law that outlines the procedures that federal agencies must follow and provides federal courts with guidelines for reviewing the actions of these agencies ...
In a special report prepared with Conventus Law, SyCipLaw partner Ma. Patricia B. Paz-Jacoba and senior associate Ramon I. Rocha IV gave updates on the Philippines' enhanced Anti-Money Laundering (AML) enforcement framework, and provided insights for organizations looking to adopt a more proactive approach to AML compliance and risk management ...
Since our last edition, our team hosted a seminar regarding ad hoc and institutional arbitration. In this edition we present some of the key takeaways from this event. This edition also include an analysis of the use of limitation of liability clauses, based on guidelines set out in the most recent case law. Further we follow up on the latest climate litigation trends. We give you the details on the UK Supreme Court’s ruling concerning environmental impact assessments of combustion ...
Conflicting interpretations of the causation standard in two AKS-predicated False Claims Act cases in the District of Massachusetts, Teva and Regeneron, mirrored the circuit split on the issue and led to interlocutory appeals before the First Circuit. The court’s eventual decision could have a major impact on the national landscape around this high-stakes question ...
Malta has been a forerunner in regulating digital assets with the introduction of the Virtual Financial Assets Act, Chapter 590 of the Laws of Malta (the “VFA Act”) back in 2018. Following its approval in 2022 and publication in 2023, Regulation (EU) 2023/1114 of the European Parliament and Council on markets in crypto-assets (“MiCAR”) has an 18-month window to become fully enforceable by 30th December 2024 ...
Carey Olsen announces new executive leadership team Current group managing partner Alex Ohlsson, who has led the firm's international expansion and held a pivotal role in establishing Carey Olsen as one of the world's leading offshore law firms, is to become group chairman. He will succeed John Kelleher, a key player in the success of the firm, who has served more than 12 years in the role and will remain at Carey Olsen as a partner in the Jersey litigation team ...
Ban on foreign information security services from “unfriendly” jurisdictions Decree No. 250 of the Russian President dated 1 May 2022 “On Additional Measures to Ensure the Information Security of the Russian Federation” previously imposed restrictions on the ****use of foreign information security means**** ...
Carey Olsen promotes six lawyers to the partnership across Bermuda, Cayman Islands, Guernsey and Jersey offices The six promotions bring the total number of partners across the Carey Olsen group to 84. Carey Olsen group managing partner Alex Ohlsson said: "Congratulations to Michelle, Richard, Tim, Rachel, Andrew and Nienke on their thoroughly deserved promotions ...
The Board concluded that the NDPA does not have authority to impose coercive fines in ongoing cross-border cases. Only in exceptional cases may concerned data protection authorities, such as the NDPA, adopt provisional measures until three months on its own territory. The GDPR sets out that national powers, such as coercive fines, shall not impair the effective powers of the cooperation and consistency mechanism ...
The Automated Vehicles Act (the Act) outlines the safety requirements that manufacturers and operators of automated vehicles will need to meet in order to deploy their goods and services on UK roads. In this article Ben Gardner outlines the key safety areas that will need to be considered ...
Bill Gates said in a blog post: “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, get health care, and communicate with each other. Entire industries will reorient around it. Businesses will distinguish themselves by how well they use it ...
The latest YouGov election poll is predicting that we are likely to have a Labour government on 4 July and this brings uncertainty for the Private Equity (PE) industry, specifically around the carried interest regime.Historically, it seemed to be a forgone conclusion that the carried interest ‘loophole’ would be closed should Labour take control of parliament ...
In its Primary Market Bulletin 49 (PMB 49) (published in May 2024), the UK Financial Conduct Authority (FCA) issues a reminder to premium listed companies incorporated in the UK of their continuing disclosure obligations under the Listing Rules (LR). FCA issues reminders to listed companies on disclosure obligations The reminders emerged following a thematic 2023 review (the review) looking at disclosures made pursuant to LR 9.4 and LR 13 ...
Whilst the impact of the upcoming general election remains to be seen, the Government has recently proposed scrapping the Commercial Agents Regulations for new agency arrangements. Background The Commercial Agents (Council Directive) Regulations 1993 (CAR) implement the Commercial Agents Directive (86/653/EEC) (Directive) ...
Shoosmiths’ FinTech partner, Luke Stubbs, was a speaker at the recent FinTech Week London Conference, participating in a panel discussion focused on international payments. FinTech Week London reflects the City's role as a FinTech hub and comprises a week of events culminating in a major conference, which Shoosmiths was proud to sponsor ...
