Contents Introduction of US style LLCs to Jersey Proceeds of Crime Law changes, including AMLSPs HMRC guidance on the registration of JPUTs Update on arranging as an additional limb of investment business Introduction of US style LLCs to Jersey In September 2022 Jersey enacted legislation which permits the formation of US-style limited liability companies or LLCs in Jersey ...
Contents The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 Updates to Natural Capital Fund framework HMRC guidance on the registration of GPUTs Changes to Guernsey’s insolvency regime Consultation on “six directorship” exemption for directors The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCF Law”) came into partial force on 1 January 2023 and will c
When a union knocks on an employer's door, it can be a shock and awe experience for the unprepared employer. It is important for employers to understand their rights and obligations when dealing with unions to ensure that they make the right decisions for their business. And, like most things, an ounce of prevention is worth a pound or more of cure ...
When a union knocks on an employer's door, it can be a shock and awe experience for the unprepared employer. It is important for employers to understand their rights and obligations when dealing with unions to ensure that they make the right decisions for their business. And, like most things, an ounce of prevention is worth a pound or more of cure ...
Continuing with the HR Improve series for this year, this month we focus on effective performance management. Performance management is key to the success of individual employees and the organisations they work for. So why is it so hard to get it right? Performance management is a process between a manager and their direct reports to ensure the expected level of performance is achieved and maintained ...
Amidst the UK's labour shortage, there has been a rise in part-time working. Why is full-time employment falling out of favour and how can the Chancellor address this? It is well documented that the UK has a labour shortage. There is no agreed consensus on the cause of this shortage; with early retirement, post-pandemic economic inactivity and Brexit all floated as potential contributing factors ...
The Judicial Chamber on Economic Disputes of the Supreme Court of the Russian Federation has considered TrustForex LLC case (No. A40-167835/2021) concerning the essential issue of recovery of penalty for providing false representations while selling assets. We believe this case to be very important both for the court practice and for the business ...
Whistleblowing or simply put, the act of drawing attention to or complaining about perceived wrongdoing, misconduct, unethical activity within one’s organisation has been a topic of great relevance in the last few years. While there is no federal law relating to whistleblowing in the UAE, there have been significant legal developments in this area. The Dubai Law No ...
March 28, 2023 By: Nicolette A. Cohen[1] On September 29, 2022, the California Court of Appeal First Appellate District, in Honchariw v. FJM Private Mortgage Fund, LLC, held a private lender’s imposition of late charges and default interest constituted an unlawful penalty in contravention of the public policy set forth in California Civil Code Section 1671, reversing the trial court’s finding ...
Carey Olsen’s Singapore team has considered the first reported British Virgin Islands (BVI) case on the court’s jurisdiction to determine a just and equitable winding-up application when faced with an arbitration agreement between parties. The authors also examine the trend in the Cayman Islands and in Hong Kong on this issue ...
But what are the reasons for this? And what are the advantages of establishing a fund in Guernsey when compared to other jurisdictions? As the leading legal adviser to Guernsey’s investment funds sector by both number of funds advised and by assets, we believe that the following reasons help to explain Guernsey’s success and provide strong arguments for choosing Guernsey ...
Guernsey is a Crown Dependency. The Bailiwick of Guernsey (Guernsey, together with Herm, Sark, Alderney and the surrounding islets) is part of the British Isles but independent of the UK. It is neither a member nor an associate member of the European Union (the “EU”) and as such is classified das a third- country. Guernsey is therefore not required to comply with EU directives such as the Alternative Investment Fund Managers Directive (the “AIFMD”) ...
Starting from February 2022, the President of Russia has adopted several decrees restricting conclusion and performance of transactions involving foreign entities and individuals. In most cases such transactions now require approval from a special governmental commission. Today the Russian Ministry of Finance published draft law No ...
ALRUD experts have prepared this material for HR directors, compliance officers and heads of legal departments, detailing the obligatory and recommended actions that should be taken in the event of an occupational accident. The purpose of this step plan is to provide high-level guidance on how to protect the interests of affected employees, investigate occupational accidents and thus mitigate risks of administrative and criminal liability for the employer and its officers ...
In an effort to support women to stay in or return to the workplace, the Labour Party have recently announced new plans aimed at supporting the wellbeing of women in the workplace, particularly surrounding menopause. According to The Fawcett Society, a membership charity which campaigns for women’s rights, a staggering eight in ten women receive no support from employers for the menopause, with one in ten women stating that they had left a job due to their menopausal symptoms ...
We previously provided an update regarding the enactment of a capital gains tax (the “Tax”) in the State of Washington (read about it here). In that article, we noted the Tax was subject to at least one lawsuit in Washington. That lawsuit resulted in the trial court striking down the Tax, which caused an appeal to the Washington State Supreme Court (the “Court”) ...
Contents Introduction Bermuda British Virgin Islands Cayman Islands Guernsey Jersey Conclusion Introduction Carey Olsen, recently ranked in the FinTech sector by Chambers & Partners across each of its Bermuda, British Virgin Islands (BVI), Cayman Islands and Jersey offices (with a number of notable practitioners), continues to be a leader in the Fintech and digital/virtual asset sector, advising clients on the most novel and innovative crypto and blockchain projects ...
On 19 March 2023, the Labour Protection Act (No. 8) B.E. 2566 (2023) was published in the Royal Gazette, effectively amending the Thai Labour Protection Act B.E 2541 of 1998 (“LPA”) by adding Section 23/1 to provide the requirements for work-from-home or remote working arrangement ...
The Indonesian government recently introduced a new omnibus law to regulate the financial sector. Law No. 4 of 2023 on Financial Sector Development and Reinforcement (Pengembangan dan Penguatan Sektor Keuangan – “P2SK Law”) was enacted on 12 January 2023 ...
The Government of Indonesia moves forward the development of Indonesia’s new capital city, namely Ibu Kota Nusantara (“IKN”) by issuing several underlying regulations to date in effort to encourage the participation of private sector in accelerating the infrastructure development of the IKN. One of them being the groundworks to implement the public-private partnerships in such development ...
Ensuring the safety and security of funds is a top priority for financial institutions worldwide. To this end, the South African Government has put in place various regulations to guide the operations of financial institutions. We have written several articles on the recent changes to the Financial Intelligence Centre Act, 2001 (“FICA”) and the regulations promulgated under FICA ...
Cyber criminals have developed new ransomware techniques to improve the efficiency and profitability of their attacks. These include targeting large and high-value entities such as governments and the health care sector (also known as “big game hunting”), and the selling of user-friendly ransomware software kits (also known as ransomware as a service) ...
