From the financial sector to the healthcare industry, and even the security business itself, hackers are creeping their way into business data systems and pilfering personal information. For financial institutions, security measures to prevent attacks are not foreign. Nor is the need for a response plan in case preventative measures fail ...
A recent decision of the Supreme Court of the United States may make it easier for borrowers to claim discrimination when denied a loan. In late June 2015, the Court addressed whether lawsuits brought under the Fair Housing Act (“FHA”)[1] required a plaintiff to show that the defendant intentionally discriminated against him or her. The Court held that the FHA does not require that ...
Although the Czech real estate market has recently witnessed several significant deals (see Attractive Real Estate Business in the Czech Republic), there is definitely still great potential in the Czech Republic for future investors. Correspondingly, according to the latest figures, it seems that even a forecast of a 6% price increase will be surpassed in 2015 ...
Lavery closely monitors the development of class actions dealing with consumer law and is committed to keeping the business community informed of the latest developments in this area of the law by regularly publishing newsletters dealing with new case law or legislative changes which may impact, influence, even transform the practices in this area. The courts of Quebec recently dealt with two issues of interest in the context of two class actions instituted by consumers ...
Intellectual property due diligence in an investment context Major changes enable registered charitable organizations to invest in limited partnership units INTELLECTUAL PROPERTY DUE DILIGENCE IN AN INVESTMENT CONTEXTEric Lavalléewith the collaboration ofCynthia Coutu, student-at-law A due diligence analysis of intellectual property right
Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in targeted activities to steal millions of dollars in unauthorized funds ...
Argentina has thwarted debt security holders’ attempts to collect on their bond default judgments stemming from the nation’s 2001 economic collapse and subsequent repayment moratorium.EM Ltd. and NML Capital, Ltd ...
Poland’s first clearinghouse for cash-free payments was established in 1990. In 1991 the first payment cards for individual clients were issued in Poland. The history of cash-free trade in this country now goes back over a quarter-century. But one of the key Polish regulations governing money—the Foreign Exchange Law—has not kept pace with the evolution of the forms in which money is used, but remains fixed in times when the dominant form of money was cash ...
The attorney-client privilege is a cornerstone of the legal practice. The privilege protects the confidentiality of communications between a client and an attorney from disclosure to a third party when the communications are intended to be confidential and the confidentiality is not waived ...
Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in targeted activities to steal millions of dollars in unauthorized funds ...
Headlines should read, “Congress and President Do Something Right!” On July 28, 2015, only one day after Congress passed the matter, the President signed into law an increase in Small Business Administration (“SBA”) lending, from $18.75 billion to $23.50 billion, for the 7(a) program. One common SBA lending program, 504, was not restricted, so loans for buying and developing real estate continued ...
Congress passed the Dodd-Frank Act in June and July 2010 with minimal Republican support, and it was signed by President Obama July 21, 2010. Since passing, Dodd-Frank has been hailed, depending on who answers, as salvation for our banking system or the death knell of community banking. The American Banker published a number of articles about this act in July 2015. Most were critical, highlighting the raised regulatory burden, which is huge ...
Q: You recently took the helm of Carolina Premier. What has been the biggest surprise to you in your new role as a CEO? What has been the biggest surprise about Carolina Premier?A: Well, bankers are known not to surprise well. I like to think that my previous roles, especially working closely with NewBridge Bank CEO Pressley Ridgill, prepared me for the role. That said, I believe the biggest surprise in the new role was how quickly issues came at you ...
The federal securities laws require public companies to make and keep detailed and accurate “books, records, and accounts.” One might assume that a securities law relating to books and records covers materials used in the preparation of financial statements. But in practice, the U.S. Securities and Exchange Commission applies a much broader definition that seems to encompass every piece of paper and data in a company’s possession ...
In a judgment rendered in the case of9210-6905 Québec Inc. (proposal of),1the Superior Court of Québec held that an interim receiver is not required to obtain a clearance certificate from the tax authorities before proceeding with the distribution of a debtor's property, and is not subject to personal liability for this reason ...
When not conducted carefully, internal investigations cancause more harm than good. Deciding to investigate a suspected problem is onlythe first of several key determinations. The responsible executive must planand execute the investigation deliberately to avoid self-inflicted harm. Anorganization can protect itself—while still conducting an investigation that isconfidential, full and fair—only by carefully thinking about how best touncover the alleged wrongdoing or compliance issues ...
The New England Patriots may play the first quarter of the 2015-16 season without quarterback Tom Brady, as he was suspended for failing to cooperate with an investigation related to footballs deflated below league standards being used in the 2014-15 season AFC championship game with the Indianapolis Colts ...
The May 2015 issue of the International Financial Law Review (IFLR) included an international briefing article by SyCipLaw partner Maria Jennifer Z. Barreto on “Electronic tax return controls.” The Philippine Bureau of Internal Revenue (BIR) recently required the mandatory use of electronic tax return forms by the non-electronic Filing and Payment System (non-eFPS) ...
When one thinks of resolving disputes in Serbia, the first thing that comes to mind is the long, costly, inefficient dispute before a court, in a dusty court-room in a socialist architecture grey building. Even though these conditions still are reality, Serbia is making efforts in recent years to achieve higher efficiency in resolving disputes through various types of judicial reform including arbitration as one of dispute resolution mechanisms ...
Ukrainian banking sector reform process promotes transparency and greater accountability. The ongoing geopolitical and economic turmoil in Ukraine, which started back in 2013, has revealed the multiple drawbacks of Ukrainian banks and the vulnerability of the country's banking system as a whole. This exposure has led to a major reform effort across the banking sector that remains ongoing, with one of the key focuses being efforts to increase the transparency of Ukrainian bank ownership ...
On 28 July 2015 the newly enacted “Law on Conversion” (the “Law”) which sets out the procedure for converting the right of use into ownership rights over construction land for a fee (the “Conversion”), will come in force. The Law outlines the rules for the Conversion procedure and specifies the particular list of entities that are eligible to file for the Conversion ...
Attractive Real Estate Business in the Czech Republic The Czech property market has developed considerably in recent decades and this optimistic trend continues. According to statistical figures, the volume of commercial investment during the last twelve months to Q1 2015 in the Czech Republic reached EUR 2.6 billion, representing 90.8 % increase ...
The U.S. Securities and Exchange Commission (the “SEC”) has issued Proposed Rules (the “Proposed Rules”) to implement Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, addressing what has been commonly referred to as “pay-versus-performance ...
On June 10, the Consumer Financial Protection Bureau (“CFPB”) issued a rule bringing non-bank automobile finance companies under its supervisory authority. Auto finance companies were already subject to the enforcement and regulatory authority of the CFPB, but under the new rule, certain auto finance companies are also subject to routine and cause-based examinations by the CFPB. The rule goes into effect on August 31 of this year ...
