On May 30, 2024, the Comptroller General of the Republic (“Comptroller”) approved Supreme Decree No. 70 (“Decree”), which amends, mainly, (i) the Supreme Decree No. 62, of 2006, of the Ministry of Economy, Development and Reconstruction (“DS 62”), which approves the Regulation of Power Transfers between Generating Companies established in the General Law of Electric Services, and (ii) the Supreme Decree No ...
On 3 May 2024, the Court of Session upheld the Scottish Ministers’ decision to refuse Miller Homes Ltd planning permission for 250 houses in West Calder. The decision is the first occasion on which the Court has considered Policy 16 of the NPF4 (Quality Homes) and confirms the approach to be adopted when considering applications for development of unallocated housing sites in the absence of an adopted local development plan postdating NPF4 ...
When the Second Payment Services Directive1 (‘PSD2’) replaced the First Payment Service Directive, the European Union (‘EU’) introduced the requirement of Strong Customer Authentication (‘SCA’). SCA enhances the security of electronic payments through additional layers of authentication with the aim to mitigate payment fraud ...
The Digital Markets, Competition and Consumers Bill (the Bill) completed the legislative process and received Royal Assent on 24 May 2024 and is now law. The changes introduced by the Bill include better protection for consumers in relation to subscription contracts, regulation of fake reviews, the display of ecommerce pricing information (to avoid ‘drip pricing’) and enhanced enforcement measures (including GDPR style fines) against non-compliant traders ...
With its January opinion in Raymond James & Associates Inc. v. Jalbert, the U.S. Court of Appeals for the Fifth Circuit held that the bankruptcy debtor's indemnification obligations were discharged by the confirmed plan because the indemnified party failed to speak up ...
Our Energy practice group has been following the progress of the legislative project which aims to clarify the requirements and processes for offshore wind power in the Finnish exclusive economic zone ("EEZ"). On 23 May 2024, the Finnish Ministry of Economic Affairs and Employment ("Ministry") held a third stakeholder meeting to inform and discuss in detail the draft government proposal, which has just been submitted for consultation ...
On April 12, 2024, the China Securities Regulatory Committee ("CSRC") released a public consultation draft of theProvisions on Program Trading Management in Securities Markets (for Trial Implementation)(《证券市场程序化交易管理规定（试行）（征求意见稿）》, the "Draft Provisions") ...
Finland and Sweden secure key arms procurement under EU security exemption The Finnish Defence Forces Logistics Command has finalized a framework agreement with the Swedish Defence Materiel Agency and Finnish arms manufacturer Sako Oy. This agreement – critical for the enhancement of both nations’ military capabilities – bypasses conventional public procurement procedures, invoking Article 346(1)(b) of the Treaty on the Functioning of the European Union (TFEU) ...
A General Election will be held on 4 July 2024. In this article, Sarah Jenkins considers what that might mean for the pensions industry What does the General Election mean for pensions? It has been a busy time for the pensions industry of late - a new policy, consultation or legislation seemingly appeared each month. However, the pensions plates are not the only ones which the Government has been spinning, and much of the planned pension reform has not yet made it to the statute books ...
The Automated Vehicles Act has received Royal Assent after a smooth and quick passage through parliament. In this article, Ben Gardner outlines what organisations in the sector can expect to happen next. What is the Automated Vehicles Act? The Act lays the foundations for the future deployment of automated vehicles on public roads ...
Did the United States Supreme Court upend specific jurisdiction in Ford Motor Co. v. Montana Eighth Judicial District Court, 141 S. Ct. 1017 (2021)? Not quite. But the Court did rule for the first time that due process does not require a causal link between the defendant’s activities in the forum and the alleged injury to the plaintiff. This case calls into question decades of precedent in the U.S. Court of Appeals for the First Circuit suggesting otherwise ...
A guide to structured finance and securitisation in Jersey Carey Olsen is a market leader in structured finance and securitisation in Jersey. Clients of the structured finance and securitisation team include issuers, trustees, companies and global investment banks who we advise on the full range of structured finance and securitisation transactions ...
Carey Olsen advises on launch of FSN Capital's Innovative Compass Fund This Compass Fund utilises the same core processes as FSN flagship mid-cap funds, with the latest being the €1.8 billion FSN Capital VI launched in 2021. However, Compass tailors its investment approach and value creation model specifically for smaller companies ...
Carey Olsen advises Shanta Gold on £156.1 million takeover by Saturn Resources Limited The transaction saw Saturn Resources increase its offer from 13.5 pence per share to 14.85 pence per share in order to secure the required support of Shanta shareholders, resulting in the acquisition being approved by more than 80% of the Shanta shareholders who voted at the shareholder meeting to approve the scheme ...
Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section 401(a)(9) (“Required Minimum Distributions” or “RMDs”). The changes related to the RMD ‘10-Year Rule’ (summarized in greater detail below) have proven to be particularly difficult to interpret ...
The United States is on the verge of one of the biggest, if not the biggest, transformations to marijuana policy in the last 50 years. According to an Associated Press report, the Drug Enforcement Administration (DEA) is expected to reschedule marijuana from a Schedule I drug to a Schedule III drug under the Controlled Substances Act (CSA) ...
In July 2023, the World Seafood Center opened its new facility at Oslo Airport, the world’s largest refrigerated terminal for handling of fresh seafood. Large quantities of seafood are being exported from Norway every day from this terminal ...
Bank Accounts were reinstated after Bank failed to give justified reasons for termination under AML/CFT obligations. 1. Facts of the Case APS Bank p.l.c ...
On the 29th of April 2024, the European Banking Authority (the ‘EBA’) published an opinion (the ‘Opinion’) in which it assesses payment fraud data and identifies new types and patterns of payment fraud while developing proposals to mitigate them. In this second Payments Insight we highlight some of the most important key considerations emerging from the EBA’s Opinion ...
On April 15, 2024, the Department of Justice released its “Criminal Division’s Pilot Program on Voluntary Self-Disclosures for Individuals.” Similar in many ways to programs introduced earlier this year by the U.S ...
On April 23, 2024, the Federal Trade Commission (“FTC”) voted to issue a final rule banning non-compete provisions in most industries in the United States (“Final Rule”). Dinsmore attorneys were quick to publish the details and impact of the Final Rule, which is available here. This supplement focuses on the impact of the Final Rule on the healthcare industry ...
In an opinion written in under 1,000 words, Florida's Fourth District Court of Appeal put foreclosure cases across Florida in jeopardy in Desbrunes v. U.S. Bank National Association in February ...
Two Montréal landmarks have proudly hosted some of the city?s most memorable sporting events. The Olympic Stadium and the IGA Stadium (Figures 1 and 2), which have been and remain quintessential in our sporting history, are in need of renovations so that sports fans can continue to ?raise the roof? for years to come. Figure 1: The Olympic Stadium: A prominent feature of the Montréal skyline. Figure 2: The National Bank Open at the IGA stadium ...
