Overview On 4 November 2022, the Ministry of Commerce of Cambodia issued two new regulations, namely, Prakas 226 on the Formalities and Procedures of Inspection and Investigation under the Law on Competition (“Prakas 226”) and Prakas 227 on the Conditions and Procedures of Negotiated Settlement under the Law on Competition (“Prakas 227”) ...
The Digital Operational Resilience Act (“DORA”) is part of the Digital finance package adopted in 2020 by the EU Commission to further enable and support the potential of digital finance in terms of innovation and competition, while mitigating the risks arising from it. DORA enters into force on 16 January 2023 ...
On 19 October 2022, the Council of the EU announced that political agreement (the ‘Political Agreement’) had been reached with the EU Parliament on the review of the Regulation on European long-term investment funds (the ‘ELTIF Regulation’) ...
The Financial Executives Institute of the Philippines (FINEX) recently launched “Ethics: Enduring or Evolving?”, the second installment of the FINEX Ethics Committee's book project focused on ethical challenges and issues of ethics in business. It includes an article on “Digital Ethics and the Philippine Law” by SyCipLaw Senior Partner and TMT expert Rose Marie M. King-Dominguez. In the article, Ms ...
The U.S. Department of Justice’s Office of Legal Counsel recently released an advisory opinion[i] regarding Section 1461 of title 18 of the U.S. Code. In it, they write the “Comstock Act”[ii] does not prohibit the mailing of certain medications used to perform abortions where the sender does not believe the medications will be used unlawfully. This opinion comes in the wake of the U.S ...
Operating expenses (“OpEx”) and common area maintenance fees (“CAM”) are two important items in any commercial lease, but they are often overlooked after the decision is made on how to split up these fees. Typically, operating expenses are calculated and allocated based on a gross, modified gross, or triple net basis, with the tenant being responsible for a percentage of CAM based on the percentage of the total property they occupy ...
Ukraine is an EU candidate: Can we soon file patent applications for Ukraine at the European Patent Office? The European Council granted Ukraine EU candidate status on 23 June 2022. Will patents granted by the European Patent Office soon also apply in Ukraine? Not immediately, because on the one hand the candidate status legally creates neither rights nor obligations ...
The UK Advertising Standards Authority (ASA) has ruled that the marketing of an NFT of a Johan Cruyff goal was misleading. The one-of-a-kind non-fungible token (NFT), entitled “In a Way, Immortal”, depicts Cruyff’s flying kick for Barcelona against rivals Atlético Madrid which was dubbed “The Phantom Goal” and earned Cruyff the nickname the "flying Dutchman". The NFT was auctioned and eventually sold for a reported €550.000 at Sotheby's ...
Determining the correct rate of rent in a 1954 Act renewal can be a sticky subject at the best of times, not least when a rent-free period is thrown into the mix. Section 34 of the Act allows the Court to determine the level of rent due under the new lease, taking into account comparable evidence and applying certain disregards. Whilst s ...
As the Covid-19 Inquiry reaches Module 2 of its timeline and it turns its attention to the political and administrative decisions made at the height of the pandemic, Shoosmiths looks at the history of public inquiries to reflect on their purpose and effectiveness in preventing future mistakes of the same kind. Reviewing previous public inquiries may inform us about the likely trajectory of the Covid-19 Inquiry ...
On 16th December 2022 the Bankruptcy Master released an update which advised that the restriction on filing new creditors' winding up petitions is likely to be lifted in the new term. The court has advised that further information will be issued to legal practitioners in advance of the new guidance ...
It is a sad fact that the current economic crisis is causing many employers to consider cost saving measures like redundancies. But it can be difficult to know what amounts to a redundancy situation. We consider the legal definition and how it applies. What the law says Redundancy is a mechanism used by employers when a company needs to reduce the number of its employees. It is one of the five potentially fair reasons for which an employer can dismiss an employee ...
All registered charities with an annual income over £10,000 and all CIOs - charitable incorporated organisations - are required to complete and file online with the Charity Commission an Annual Return in a prescribed form within ten months of their financial year end. Just before Christmas, the Commission confirmed details of new and revised questions in the Annual Return ...
Broad scope of application The FSR targets any undertaking engaged in an economic activity in the internal market that has received a foreign subsidy distorting the internal market. A foreign subsidy is any financial contribution provided by a third country (non-EU Member State) which confers a benefit on an undertaking engaging in an economic activity in the internal market and which is limited to one or more undertakings or industries ...
January 10, 2023 By: Michael Flynn The Office of Information and Regulatory Affairs in the Office of Management and Budget has released the Fall 2022 Unified Agenda of Regulatory and Deregulatory Actions (Agenda) reports on the actions administrative agencies plan to issue in the near and long term. Included is the CFPB’s regulatory agenda for 2023. The CFPB agenda may be found HERE ...
In 2021, President Biden issued Executive Order 14026 to increase the minimum wage for federal government contractors to $15 per hour. On November 23, 2021, the Department of Labor (DOL) issued its final rule implementing Executive Order 14026. The rule requires any federal contractor to pay employees a minimum hourly wage of $15 and overtime wages for work beyond 40 hours per week. This wage is subject to yearly increases determined by DOL ...
Dionex Softron GmbH v. Agilent Techs., Inc., Appeal No. 21-2372 (Fed. Cir. Jan. 6, 2023) This week’s Case of the Week, the only precedential patent opinion issued by the Federal Circuit this week, focused primarily on the corroboration requirement for relevant dates of invention. The Court held there was sufficient evidence of a reduction to practice as of a given date, based primarily on corroboration of multiple witnesses, notwithstanding limited documentary evidence ...
We are pleased to bring you the latest legal updates for December 2022. Financial Service Technical Note No ...
Having experienced unprecedented levels of M&A activity in 2021 and the first half of 2022, followed by the market uncertainty of Q3 and Q4 of 2022, what can we expect from the M&A landscape in 2023? Here are some of our key predictions ...
“With the energy crisis likely to continue throughout 2023 and pressures on governments, businesses and individuals to take action to tackle climate change, I expect that, whilst government funding may be limited, there will be no shortage of capital for investment in clean energy projects ...
The year ahead will see a better resourced FCA announcing and implementing reform in many different markets. It will see a focus on protecting consumers in the current economic climate and a focus on understanding newer and faster paced markets, particularly those where consumer detriment is a real risk. In a written statement to Parliament on the 9 December 2022, the chancellor set out an ambitious list of reforms that, at any other time, the financial services sector would run towards ...
In recent months we have seen a significant rise in industrial action across multiple sectors, including public transport; postal workers; nursing and ambulance staff; university employees; Border Force staff and civil servants. Strikes look set to continue into 2023; the British Medical Association is currently balloting junior doctors on potential strike action for March 2023 and disruption is also likely to hit schools in Scotland as teacher strikes are planned for January 2023 ...
On January 4, 2023, Law No. 21,521 was published, which promotes competition and financial inclusion through innovation and technology in the provision of financial services (“Fintech Law”). The Fintech Law introduces a series of legal amendments to various regulatory bodies, including Law No. 19,913, which creates the Financial Analysis Unit (“UAF”) and amends various provisions on money laundering (“Anti-Money Laundering Act”) ...
On December 22, 2022 the Pennsylvania Department of Human Services (“Pennsylvania DHS”) issued a Medical Assistance Bulletin that will put 340B savings at risk in Pennsylvania. This bulletin intends to prohibit 340B Program covered entities and contract pharmacies from dispensing 340B medication to Pennsylvania Medicaid patients regardless of whether the patient is enrolled in fee-for-service or managed Medicaid ...
