AELEX is the exclusive contributor to the Nigerian Chapter of The Legal 500 (Legalease): Franchise and Licensing Country Comparative Guides. The country specific Guide provides a pragmatic overview of how businesses can set up franchises and also license their technology and intellectual property rights in Nigeria. The Guide was authored by our Davidson Oturu,Tiwalola Osazuwa and Kofoworola Oyegunle. Please click here to read the Guide ...
INTRODUCTION There are several government agencies regulating various sectors of the Nigerian economy. Most of these regulatory agencies are creation of statutes which usually specify their functions, powers and general mode of operations. While some of these agencies are responsible for sensitising the citizens about government policies,[1]a good number are charged with the task of enforcing policies, programmes and laws enacted by the Government ...
The current crisis caused by the COVID-19 pandemic has already caused, and will continue to cause, significant liquidity problems for some businesses. Companies whose financial difficulties threaten their very existence will have to restructure in order to avoid bankruptcy, either by availing themselves of the protection of the Companies' Creditors Arrangement Act1 (the "CCAA") or by using the proposal mechanism of the Bankruptcy and Insolvency Act2 (the "BIA") ...
Effective Oct. 15, 2020[1], the Committee on Foreign Investment in the United States’ (CFIUS) mandatory filing requirement will shift from a critical technology[2], industry-specific focus to one focused on export controls. It will focus on whether the U.S. regulatory authorization would be required to export the target U.S. business’ critical technology to the foreign person party to the transaction, including certain parties in the foreign person’s ownership chain ...
On Oct. 8, 2020 the SEC issued a joint statement on additional Form CRS guidance regarding firms’ disciplinary history. The statement was released in tandem with several new FAQs, which help clarify firms’ disclosure obligations as they relate to disciplinary history. The update guidance comes in response to the SEC’s early review of firms’ Form CRS filings ...
Law 58/2020 of 31 August implements into Portuguese law Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. It enshrines in the Portuguese legal framework a first approach to the regulation of entities that engage in activities with virtual assets ...
The Board of Governors of the Federal Reserve System (the “Fed”), the Office of the Comptroller of the Currency (the “OCC”), and the Federal Deposit Insurance Corporation (the “FDIC”) each have regulations implementing the Change in Bank Control Act (12 U.S.C ...
Join us for a special opportunity to hear directly from the CFPB about mortgage servicing in the COVID-19 era. On October 14 from 2:00-3:00 p.m. ET, Bradley hosted a Q&A session with Allison Brown of the CFPB's Office of Supervision Policy to discuss the CFPB’s supervisory expectations as the industry grapples with CARES implementation and other challenges arising from the coronavirus crisis ...
Since the 1960s, the United Stated Securities and Exchange Commission (SEC or Commission) has implemented several “Guides” for business disclosure by certain SEC registrants involved in banking, oil and gas, real estate, insurance, and mining activities ...
On October 8, Treasury issued a new Interim Final Rule Re Additional Revisions to Loan Forgiveness and Loan Review Procedures Interim Final Rules (new IFR), along with a new Loan Forgiveness Application Form 3508S and Instructions for the new Form, addressing applications for forgiveness of PPP loans of $50,000 or less. Links to the new IFR, the new Form 3508S, and the new Instructions for Form 3508S are set out below ...
The electronic commerce industry is expected to expand by five to seven percent in the coming years while the streaming services business is also expected to exponentially grow, with more and more Filipinos opting to do their transactions online, as well as accessing Internet-based content and entertainment. Philippine authorities are inevitably focusing their regulatory gaze on these enterprises. A ...
The Arendt Weekly Update is a newsletter designed to give you the insight you need without overloading your mailbox. It lists the latest news, topical webinars, training courses and more ...
To combat the economic consequences of the COVID-19 pandemic, the government approved Decree-Law 10-J/2020 of March 26 (the “Decree-Law”). The Decree-Law established a set of economic measures to protect liquidity and treasury, and in this document, we focus on the financing moratorium ...
What Happened: The US warns victims of ransomware and companies facilitating ransomware payments of potential Office of Foreign Assets Control (“OFAC”) violations in light of rising ransomware attacks. The Bottom Line: Individuals and companies risk potential civil penalties based on strict liability if a ransomware payment involves a person or entity on OFAC’s Specially Designated Nationals and Blocked Persons List (“SDN List”) ...
On October 7, the Consumer Financial Protection Bureau (CFPB) took steps to clarify its interpretation of how settlement service providers may comply with the “no kickback” and “unearned fee” provisions of Section 8 of the Real Estate Settlement Procedures Act (RESPA) by promulgating a new set of Frequently Asked Questions (FAQs). The FAQs provided several concrete examples to shed light on what activities are allowed under those provisions ...
The functioning of the World Wide Web is in many ways dependent on the use of hyperlinks. Many of those hyperlinks refer to works protected by copyright. In his recent Opinion, Advocate General Szpunar has considered which kinds of hyperlinks should be regarded as a communication to the public that require the copyright holder’s prior authorisation ...
This is to inform you that the Resolution of the Government of the Russian Federation dated October 01, 2020 No. 1587, has extended the moratorium on bankruptcy of companies, at the request of their creditors, until January 07, 2021. In this regard, we would like to draw your attention to the key provisions related to the moratorium regime and its extension. Moratorium – the first results ...
The COVID-19 pandemic has been not only causing major social upheaval but disrupting business development and the economy as well. Nevertheless, since last March, we have seen many developments and new projects involving self-driving vehicles (SDV). Here is an overview ...
The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 23, Series of 2020 (CDV Circular), dated August 18, 2020, which provides a regulatory framework for the creation and operation of Corporate Debt Vehicles (CDV). The circular aims to alleviate the adverse economic effects of the COVID-19 pandemic on large corporations and medium-sized enterprises by giving them another mode of raising capital through the intermediation of a mutual fund. 1 ...
Over-indebted companies still exempted from filing duty until 31 December 2020COVID-19-affected companies to benefit from easier access to protective shield proceedings and preventive restructuring schemes/ regimes as from 1 January 2021 Two German legislative initiatives taken in September 2020 will have an immediate impact on the options available to restructure a business under German law: DUTY TO FILE FOR INSOLVENCY RE-INSTATED FOR ILLIQUID COMPANIES AS OF 1 OCTOBER 2020; SUSPENSIO
As seen in Bank Director From lobby closures to Paycheck Protection Program loans, the COVID-19 pandemic has thrown a lot at banks and other financial services providers during this pandemic. One more item to add to the list is the Families First Coronavirus Response Act (FFCRA) ...
So, you want to start a hemp company in Alabama. You have your big idea and a business plan ready, but you begin to wonder whether you should be thinking about any legal issues as you get your company off the ground. That’s where we come in. Bradley’s Cannabis Industry team has a deep understanding of the many unique legal and business issues that impact hemp companies in Alabama and beyond ...
