The countdown to the next stage of the Minimum Energy Efficiency Standard (MEES) is on. All let commercial property will be subject to MEES from April 2023. This extension of the scheme should be viewed in the context of a growing commitment to ESG within the real estate industry and many property owners and occupiers having developed ESG policies which will drive improvements to the energy rating of their properties ...
The Malta Business Registry has published a notice informing the public of a key change to its online website company register portal. Access by the general public to the beneficial ownership details of companies registered with the Malta Business Registry has been removed following a judgement of the Court of Justice of the European Union ...
In a circular dated the 15th of November 2022, the Malta Financial Services Authority (“MFSA”) confirmed that electronic signatures which are done with a ‘qualified electronic signature’ shall be accepted by the MFSA ...
“In view of the associated risks, it has been decided that, with immediate effect, entities regulated by the Reserve Bank shall not deal in VCs or provide services for facilitating any person or entity in dealing with or settling VCs ...
Dear valued clients, colleagues and friends, The Firm successfully defended the prominent e-commerce platform operator, Shopee Mobile Malaysia Sdn Bhd, in a suit filed by A & M Beauty Wellness Sdn Bhd after a full trial on matters pertaining to trademark infringement, unlawful interference of trade and obligation to disclose users’ data. Click here to read more ...
On 5 October 2022, Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) announced the establishment of the Malaysia International Islamic Financial Centre (MIFC) Leadership Council. The Council serves as a platform to provide industry stewardship in enhancing Malaysia's proposition as a global marketplace and an international gateway for Islamic finance ...
The Firm acted for a corporate licensed Moneylender in an appeal against the High Court decision in Summerhay Development Sdn Bhd v Ivory Ascent Sdn Bhd (2020 1 LNS 1491 and 2020 MLJU 1549) and was successful in overturning the High Court decision in J-02(NCvC)(A)-1095-08/2020. The Court of Appeal’s decision was subsequently affirmed by the Federal Court and the borrower’s motion for leave to appeal was dismissed by the Federal Court (08(f)-415-09/2021(J)) ...
At the forefront of digital revolutionisation Malaysia has launched the DE Rantau programme aimed specifically towards the digital nomad. The programme was launched on 1 October 2022 and all applications received will be screened by the Malaysia Digital Economy Corporation (“MDEC”). Click here to read more. Should you have any enquiries, please contact Suganthi Singam at [email protected] or Chui Siew Xuan at [email protected] ...
November 29, 2022 By: Michael Flynn On October 31, 2022, Buchalter posted a Client Alert regarding the Small Business Administration’s (SBA) intent to lift its long-standing moratorium on adding more Small Business Lending Companies (SBLCs) that can make 7(a) program ...
The agreement on a new EU-U.S. data privacy framework between EU Commission President Ursula Von Der Leyen and U.S. President Joe Biden had already been announced on 25 March 2022 (for background, please refer to our previous article The EU-US Privacy Shield: Third Time’s a Charm? – Mamo TCV) ...
The Office of the Personal Data Protection Committee (the “PDPA Committee”) published a draft regulation issued under the Personal Data Protection Act (2019) (the “PDPA”) relating to the cross-border transfer of personal data outside of Thailand (the “Draft Regulation”) on its website in September 2022 ...
Employers subject to the personalized rate or retrospective rate regime know how important it is to control the costs related to occupational injury cases in order to limit the impact on their annual premiums. One way to attain this objective is to apply for a transfer of costs under section 326 of the Act Respecting Industrial Accidents and Occupational Diseases ...
In Society of Composers, Authors and Music Publishers of Canada v. Entertainment Software Association1 (the ?SOCAN Decision?), the Supreme Court of Canada ruled on the obligation to pay a royalty for making a work available to the public on a server, where it can later be streamed or downloaded ...
Environmental, social and governance (ESG) reporting is a major and evolving regulatory area in Europe. Disclosures play a crucial role in helping the financial sector address climate change and sustainability. They are also being used to address issues such as poor workplace diversity and gender pay gaps. Several jurisdictions have introduced or plan to introduce measures dealing with ESG risks in supply chains ...
Contactless payments offer a convenient and, where proper safeguards are introduced, significantly safer payment method. With projections that Contactless Payments will reach a global value of USD164 ...
On 17 November 2022, the State Administration Council (“SAC”) enacted the Law Amending the 2022 Union Tax Law (“2022 UTL Amendment”). This law provides tax exemptions for Battery Electric Vehicles (“BEVs”) and increases the corporate income tax rate of companies engaged in the oil and gas exploration and production sector in Myanmar. We highlight below the major changes under this law: 1 ...
On the 12th of April 2021, the Malta Financial Services Authority (‘MFSA’) introduced the requirement for all collective investment schemes that are locally licensed or notified to submit a novel return, being the Annual Fund Return. Various amendments to the Annual Fund Return have been made as can be seen in the Circular issued by the MFSA on the 21st of December 2021, along with the updated Guidelines ...
The Procedures reflect updates to the de-registration process for mutual funds and establish for the first time the de-registration process for private funds, which aim to create a streamlined and harmonised regime for regulated funds ...
The benefits of Guernsey as a fund domicile. Guernsey is one of the world’s largest offshore finance centres, with a thriving funds industry. Over 1,400 investment funds and sub-funds are currently administered in the island. The value of funds under management and administration in Guernsey as at the end of June 2021 is US$533 billion (up 24.4% in 12 months), based on the most recent available data published in The 27th annual Monterey Insight Guernsey Fund Report ...
On 11 November 2022, the China Banking and Insurance Regulatory Commission ("CBIRC") issued for public consultation a draft revision to the PRC Banking Supervision Law (the "Consultation Draft"). The current PRC Banking Supervision Law was first promulgated in February 2004 and was amended once in 2006 (the "Current Law") ...
The ICO’s long-awaited guidance on how organisations can manage transfers of UK data to receivers outside the UK has arrived. What does it say about the direction this government may want to take on data protection reform? It will take time for advisers and users to digest but it’s instructive to take an early tour and try to guess what will prove useful and what are the new bones of contention ...
While originally opened to great fanfare between 2017 and 2019, over the course of 2022 Shell has discreetly closed down all of its UK hydrogen filling stations, citing that "the prototype technology had reached the end of its life". This decision is perhaps not surprising, given the low volume of domestic fuel-cell electric vehicles (FCEVs) on UK roads ...
On November 21st 2022, Law No. 21,505 that promotes electric energy storage and electromobility (hereinafter, the "Law") was published, which is a relevant element for Chile to reach the goal of carbon neutrality by 2050. The Law, approved unanimously by the National Congress of Chile, promotes the participation of NCRE in the electric matrix, allowing its storage and avoiding the dumping of production ...
