Key Points Ninth Circuit reaffirms the “significant nexus” test for determining whether filling certain wetlands in 2007 violates the Clean Water Act The narrower test for determining the Clean Water Act’s jurisdiction under the 2020 Navigable Waters Protection Rule did not apply since it postdated the 2007 filling of the wetlands ...
‘Navigating the Fintech Revolution in Thailand’ is the indispensable must-read guide for fintech experts who want to stay up-to-date on all current and future fintech developments and successfully navigate the sector’s many challenges and pitfalls! In this edition, DFDL reports on the current state of fintech in Thailand from a legislative and policy perspective with an overview of the current and future fintech landscape ...
Despite the cannabis industry’s explosive growth, many financial institutions have been hesitant to transact with cannabis-related businesses given the ambiguity created by divergent state and federal cannabis laws. The SAFE Banking Act seeks to remove these ambiguities at the federal level and pave the way for more financial institutions to serve the cannabis industry ...
Water Law On August 20, 2021, the Deputy Director of the Division of Water Rights (Deputy Director) of the State Water Resources Control Board (State Water Board) issued water curtailment orders for the remainder of August and for all of September to approximately 4,500 water right holders in the Sacramento-San Joaquin Delta watershed (Delta Watershed). These curtailment orders affect post-1914, pre-1914, and riparian rights, though in different ways, as described further below ...
On August 20, 2021, the Personal Information Protection Law of the People’s Republic of China (the “PIPL”) was officially promulgated, which will come into effect on November 1, 2021. The PIPL will become the first systematic and comprehensive law in China that focuses on the protection of personal information ...
The freeze partnership is an often overlooked estate tax planning tool. Unlike more common estate tax planning vehicles, the freeze partnership is not a trust and, as the name implies, is a closely-held partnership, limited partnership or LLC (in this article, the term partnership will be used to refer to partnerships, limited partnerships and LLCs) ...
The Green and Sustainable Finance Cross-Agency Steering Group co-chaired by the HKMA and the SFC (Steering Group) announced on 15 July 2021 the next steps to advance its strategy to bolster Hong Kong’s position as a leader in green and sustainable finance and help transition the financial ecosystem towards carbon neutrality ...
On 20 July 2021, the Hong Kong Monetary Authority (HKMA) issued a draft guideline on climate risk management for consultation with the banking industry with comments due by 20 August 2021. The guideline includes expectations on governance, strategy, risk management and disclosure ...
In the recent US case of In Re Citibank August 11, 2020 Wire Transfers (Revlon), the New York federal court held that lenders in a syndicated loan were not obliged to return an erroneous payment made by the syndicated facility agent due to the ‘discharge for value’ principle, which operated as a successful defence to unjust enrichment (click here for the full decision) ...
Arbitration Rules 2021The Asian International Arbitration Centre (“AIAC”) launched its latest edition of the AIAC Arbitration Rules (“AIAC Rules”) on 1 August 2021. The AIAC Arbitration Rules 2021 (“2021 Rules”) streamline proceedings and embrace the needs of a fast evolving disputes climate ...
“We have to hurry, we have to get faster in the fight against climate change.” Those were the words of Angela Merkel, the German Chancellor, after surveying the devastation caused by record floods in western Germany in early July. Private transport is one of the world’s biggest sources of greenhouse gases, with emissions rising every year, and the transition to electric vehicles is fundamental in the fight against climate change ...
In an article published earlier this year, we discussed how the Prevention and Suppression of Money Laundering and Terrorist Financing Law, L.188(I)/2007 (the “AML Law”) was amended in order to harmonise domestic legislation with the 4th and 5th AML Directives (Directives (EU) 2015/849 and 2018/843 and how it introduced, for the first time, provision for the registration of Crypto-Asset Service Providers (“CASPS”) ...
Private equity investors in nursing homes should brace and prepare for an active near-term enforcement environment. Congressional skepticism of private equity involvement in healthcare, developments in False Claims Act cases and Department of Justice priorities all point towards increasing scrutiny of private equity investment in skilled nursing facilities ...
Water Law Effective August 19, 2021, emergency regulations were approved for water curtailment orders and related reporting requirements in the Sacramento-San Joaquin Delta watershed, defined as Hydrologic Unit Code level 4 Sacramento and level 4 San Joaquin subregions (Delta Watershed), as shown in the map below ...
On August 18 th , 2021, Law No. 21,362 (the “ Law ”) was published in the Official Gazette. The Law introduces several modifications to different other laws in connection with the labeling, advertisement, and sales of gluten free foodstuff products. Firstly, the Law modifies Law No. 20,606, commonly known as Labeling Law ...
On 10 August 2021, Hong Kong’s Securities and Futures Commission (SFC) published consultation conclusions on its proposals to (1) implement an investor identification regime at the trading level for the securities market in Hong Kong and (2) introduce an over-the-counter securities transactions reporting regime for shares listed on the Stock Exchange of Hong Kong (Conclusions). The original consultation paper is available here and the Conclusions are available here ...
Home Quarantine Now Possible for Ex-Patriates Imagine having the permission to work in a foreign country and yet being unable to do so as you are prohibited from entry. That has been the dilemma faced by many ex patriates who hold Employment Passes but have been unable to enter Malaysia due to the current restrictions in place ...
In our previous article (Cryptocurrency – The Future of Money), we provided an overview of the key ideas behind cryptocurrency. In this article, we look at how cryptocurrency and digital currency might impact the corporate banking and finance market ...
The Departments of Health and Human Services, Labor, and Treasury, and the Office of Personnel Management recently issued an Interim Final Rule (IFR) implementing portions of the No Surprises Act enacted in December 2020 ...
Banking & Finance The Central Bank of Malta Issues Directive 19 on the Use of Cheques and Bank Drafts Directive No 19 ‘on the Use of Cheques and Bank Drafts’ was issued by the Central Bank of Malta on 7th July 2021 with the aim of promoting safe and effective use of cheques and bank drafts drawn on Maltese banks and financial institutions ...
Under the GDPR, transfers of personal data are permitted without restriction to countries that the European Commission (the "EC") has assessed as providing an "adequate" standard of protection for personal data. The current list of countries considered "adequate" is Andorra, Argentina, Canada (for commercial organisations), Faroe Islands, Guernsey, Israel, Isle of Man, Japan, Jersey, New Zealand, Switzerland and Uruguay and the United Kingdom ...
Financial ServicesBank Negara Malaysia issues Policy Document on Reference Rate FrameworkThe policy document on Reference Rate Framework (“RRF PD”) was issued by Bank Negara Malaysia (“BNM”) on 11 August 2021 and will come into effect on 1 August 2022 ...
