Shortly after his administration began, President Biden signed Executive Order 13985, "Advancing Racial Equity and Support for Underserved Communities Through The Federal Government." In April 2022, in accordance with this Executive Order, the Equal Employment Opportunity Commission ("EEOC") released its "Equity Action Plan," which contains several items that may impact employers ...
In a class action lawsuit filed Monday in the United States District Court for the Northern District of California, Binance.US (Binance), a major cryptocurrency exchange, has been accused of misleading investors surrounding the Terra blockchain ecosystem. This is the first major court filing in the United States relating to Terra, whose UST and LUNC tokens crashed in May, wiping out around $40 billion in investor funds ...
June 13, 2022 By: Melissa Richards On June 9, 2022, the California Department of Financial Protection and Innovation (CA DFPI) issued its long awaited final regulations implementing SB 1235’s (2018) new early disclosure requirements on commercial financing offers equal to or less than $500,000. The CA DFPI regulations take effect December 9, 2022. The final regulations can be found at Title 10, Chapter 3 of the California Code of Regulations. The link to Chapter 3 is HERE ...
On the 25th of May 2022 the General Department of Taxation (“GDT”) issued Notification No. 10979 GDT on the “Required Documents to Support the Interest Charge on Related Party Loans” (“Notification 10979”). The key points to be taken from Notification 10979 are as follows: To ensure compliance with Prakas No. 986 MEF.P ...
In the recent case ofAslan v Stepanoski[1](the Aslan case), the Court of Appeal of New South Wales, Australia upheld a builder’s action suspending the performance of works over non-payment and denial of access to the site by the employer. The Court held that the contractor’s decision to suspend works was not a repudiatory conduct as he was entitled to do so under the contract ...
Dear valued clients, colleagues and friends, We are pleased to bring you the March 2022 Issue of our quarterly Newsletter, we hope that you will continue to find its contents of value to you ...
In September 2019 government announced a review of the system for children and young people with Special Educational Needs and Disabilities (SEND) in England. The current SEND regime introduced in 2014, is considered by many to be unfit for purpose, both in terms of accountability and consistent quality of support and adequate funding to local authorities to make the system work ...
By Bashir Ahmed, Saurbh Kothari and Dimple Soni 7 June 2022 Last year we had reported that the Federal Tax Authority (the FTA) has started to impose penalties on entities that have failed to submit their economic substance notifications by the set deadline of 30 June 2020 for the financial period ended on 31 December 2019, and the economic substance reports by the set deadline of 31 December 2020 for the financial period ended on 31 December 2019 ...
Invitation Dear Colleagues, ALRUD Law Firm is honoured to invite you to our webinar: "Labour Issues in Corporate Restructurings and Transactions during the Crisis Period" In these current challenging times, corporations face various difficulties that significantly influence their activities in Russia. Given the severe sanctions and technical issues caused by them, companies have been forced to find new business approaches ...
Mutual fund managers have long been important institutional investors in the capital markets. At present, there remain issues to be improved in the mutual fund industry, such as insufficient suitable professional capabilities, culture development weaknesses, and structural imbalances. In light of this, the China Securities Regulatory Commission has put forward the following guiding opinions to promote the developments of the mutual fund industry ...
WHAT IS OPEN BANKING? We had earlier delved into the concept of Open Banking and its regulatory framework in our articles accessiblehere[1]andhere[2].In summary, Open Banking is a system that grants third-party providers (TPPs) open access to consumer banking, transactions, and other financial data from banks and non-bank financial institutions(NBFIs) through the use of Application Programming Interface (API) ...
Shoosmiths recently sponsored Cornwall Insight’s Financing Net Zero webinar on ‘Unlocking battery storage revenues’. Here we provide a summary of the key takeaways from the webinar. Battery storage is developing at pace as a critical element of global net zero ambitions. Strong wholesale volatility and record high ancillary service prices have supported revenues for storage across the past year, boosting the business case for the technology ...
Financial Products and Services Consumer Protection Act On May 06, 2022, Republic Act (RA) No. 11765, or the Financial Products and Services Consumer Protection Act, was signed into law ...
Lauren Bowkett is a Principal Associate in the Financial Crime Team at Shoosmiths. Her expertise is in white collar crime and Proceeds of Crime Act (POCA) related matters, with specific knowledge in the restraint and seizure of cryptoassets ...
DFDL Myanmar’s Tax Team wishes to remind you: The deadline to file your annual tax returns is on 30 June! The submission deadline applies to all annual tax returns, specifically for Corporate Income Tax (“CIT”), Commercial Tax (“CT”), and the Personal Income Tax (“PIT”) Salary Statement for the financial year that ended 31 March 2022 (“FY 2021-2022”) ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has again earned outstanding rankings in IFLR1000 Banking and Finance 2022, the guide to the world’s leading financial and corporate law firms. The firm was cited in the following categories: Banking, Tier 1Project Finance, Tier 1 IFLR1000 remains the only international legal market research brand focused on ranking law firms and lawyers on the basis of financial and corporate transactional work ...
The Professional Investor Fund (PIF) supports the Government’s goal as it targets professional investors. The UK Government and the Financial Conduct Authority have engaged with proposals regarding PIFs. In 2020 the UK government announced a review of the UK funds regime and published a call for input ...
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”) ...
Familiarity Jersey company law is founded on the same underlying principles as English company law, and therefore Jersey companies are very familiar to people who are used to dealing with English companies On the flip-side, the additional flexibility that Jersey law permits makes it possible for a Jersey company to “look and feel” very similar to, for example, a Delaware company Flexibility on acquisition and throughout investment holding period Maintenance of capital:
With those operating in the living sector now facing the risk of older assets becoming stranded – obsolete to funders and residents - Liz Sweeney and Liana Di Ciacca examine the journey to retrofitting stock and embracing ESG. The use of sustainability linked loans grew rapidly in the real estate finance market during 2021 ...
INTRODUCTION Since its advent in 2008, cryptocurrency has been widely accepted internationally, as a viable means of investment. This is notwithstanding its volatility, as the world appears to be highly interested in the sale and purchase of digital assets. For example, bitcoin currently has about 14million in circulation.[1]Save for its volatile nature, and the period where its price drops, investors in the cryptocurrency space are often guaranteed of juicy returns ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has received Tier 1 rankings in “Patents” and “Copyrights/Trademarks” categories in the Philippines on Thomson Reuters’ Asian Legal Business (ALB) IP Rankings for 2022. ALB is a publication that provides insights on legal professionals throughout Asia and identifies and ranks top firms for intellectual property practice in Asia ...
