Member Articles

With the introduction of foundations as an alternative type of structure to companies, the trustee can be formed as a private trust foundations (“PTF”) instead of a PTC, offering increased choice to the client. To help guide this choice, this briefing note considers key issues relating to the establishment and use of a PTC or a PTF in the context of private wealth management. References to “PTVs” are to both PTCs and PTFs ...

In summary, in most jurisdictions, trust assets will be more vulnerable to attack from a settlor’s creditors in the following scenarios: A settlor’s retention of dispositive powers (particularly positive powers e.g. powers to direct the trustee in contrast to a power to veto a trustee’s proposal) generally renders a trust more vulnerable to attack by creditors. Retaining powers to revoke the trust and/or a general power of appointment (i.e ...

The U.S. Court of Appeals for the Fifth Circuit held in a 2-1 opinion that Congress’ delegation of legislative power to the Securities and Exchange Commission (the SEC) is unconstitutional because it fails to “provide an intelligible principle by which the SEC would exercise the delegated power.” The Fifth Circuit has called into question the legitimacy of the majority of the SEC’s enforcement operation, which occurs in front of administrative law judges (ALJs) ...

On April 29, 2022, the National Information Security Standardization Technical Committee issued for public comments a draft of the Technical Specifications for the Certification of Personal Information Cross-border Processing (the “Draft Specifications”) ...

The year 2021 was marked by several changes in Myanmar. The change in government, along with the COVID-19 crisis, led to significant legislative developments that may have not yet been tracked by legal experts and industry players ...

Local authorities will be given rights to let vacant high street premises under new powers contained in the Levelling Up and Regeneration Bill. Background The government wants to regenerate local high streets as part of its levelling up agenda. A key element of its proposals is to give local authorities the right to let vacant premises on their high streets following a rental auction process ...

In the light of the current geopolitical situation, including severe counter sanctions and restrictions imposed by the Russian Government, we would like to provide you with an update on the current IP regulation in Russia. Partial legalization of parallel imports On 29th March, the Russian government issued a Decree No ...

While architects and engineers take responsibility for the safety of the buildings they ‎design, they usually are not responsible for protecting the property or the people on-site during ‎construction. If a finished building falls because of improper design, the architects and engineers ‎who stamped the drawings will be the prime suspects for the failure ...

The Committee of Advertising Practice (CAP) has issued guidance on ads for cryptoassets following an increase in the number of Advertising Standards Authority (ASA) complaints about crypto ads. What are cryptoassets? Cryptoassets are defined by the Financial Conduct Authority (FCA) as: “cryptographically secured digital representations of value or contractual rights that use some type of distributed ledger technology (DLT) and can be transferred, stored or traded electronically ...

The COVID-19 Public Inquiry presents a key growth area for litigation in the medium to long term. Here, Matthew MacLachlan considers key litigation risks, potential parties and emerging themes ...

Dan Stowers, Partner and Lauren Bowkett, Principal Associate in the Regulation, Business Crime and Compliance Division explore the powers enacted under the new Economic Crime Act 2022 and what this means for those involved ...