One of the proposals set out in the Green Paper concerns an investment obligation for streaming services. According to the proposal, streaming services are required to either invest directly in Norwegian films and series, or, if the services do not invest sufficiently in Norwegian content, contribute to the financing of such productions through financial contributions to the Norwegian Film Fund ...
Registrations for the Mamo TCV Advocates Sustainable Finance Week being held between the 24th and 28th October 2022 are now open. Please click here for the programme of events ...
By: Jack Darrington, Keven Rowe, and Landon Hardcastle Under a new Utah law, most providers of commercial financing or factors which are located in Utah or who lend to a Utah resident are required to register as a commercial financing provider with the Utah Department of Financial Institutions. Additionally, certain disclosures are required before engaging in most transactions. To some extent, the law mirrors Truth in Lending type acts passed in New York and California ...
As a matter of important update that may impact potential and scheduled transactions in Russia, please be advised that on 8th of September 2022 the President of the Russian Federation has signed Decree No. 618 “On Special Procedure for Consummation (Execution) of Certain Types of Transactions (Operations) between Certain Persons” (“Decree No. 618”). Decree No ...
The strategy for the application of Portugal 2030 was designed around five main objectives of the European Union1: a smarter, greener, more connected, more social Europe that is closer to its citizens. At the national level, these strategic objectives of the European Union are embodied in four thematic agendas of the Portugal 2030 strategy2 ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
In Butler-Sloss and Ors v Charity Commission for England and Wales and Anor,[1] the England and Wales High Court (the Court) blessed the charity trustees’ decision to adopt investment policies that restricted investments to those aligned with the charities’ purposes, thereby excluding many potential investments. In so doing, the Court provided clarification regarding Harries v Church Commissioners for England ...
What is the intention of the new regime? By replicating and improving upon successful asset holding structures adopted by fund managers in jurisdictions like Luxembourg, the QAHC regime is intended to bolster the UK funds industry by facilitating greater UK-based fund activities, amending certain aspects of the UK tax system which have hitherto made UK vehicles unattractive as asset holding companies ("AHCs") ...
As we begin 2022, the renewable energy industry in the United States has much for which to be thankful: A strong demand for clean power, increasing recognition of the need for an accelerated energy transition, and a thriving, successful base of developers and contractors working toward this common goal ...
Mamo TCV Advocates shall be organising a series of webinars spanning over one week to provide insights on sustainable finance and related regulatory compliance obligations. The scope of these webinars is to highlight how the sustainability-related requirements are impacting the financial services sector from a regulatory standpoint. During the week, Mamo TCV Advocates will also be discussing employment and corporate social responsibility matters ...
On July 21, 2022, the Department of Land Conservation and Development (DLCD) adopted the Climate-Friendly and Equitable Communities (CFEC) rules. DLCD then filed the permanent CFEC rules with the Oregon Secretary of State on August 17, which are now in effect. To note, the rules are still up for appeal; on a petition for judicial review, the Court of Appeals could declare a rule invalid ...
Dear valued clients, colleagues and friends, Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) announced on 15 August 2022 that it will be launching the Voluntary Carbon Market (“VCM”) exchange by the end of 2022 to enable companies to purchase voluntary carbon credits from climate friendly projects and solutions, to offset their carbon emission footprint and to meet their voluntary climate goals ...
On the 12 August 2022, the MFSA has issued a Circular to inform the financial services industry of the launch of a new standardised template (“Annex AX26: Source of Wealth and Source of funds self-declaration form”) to be used with immediate effect when submitting a statement of source of wealth and source of funds ...
The draft diploma on the simplification of licenses and procedures for companies in the environmental area was submitted to public consultation on the 3rd of August (the “Proposal”). The Proposal contains measures mainly in the environmental area, but also measures with a transversal impact, applicable to the administrative activity and public authorities (e.g., the certification mechanism for tacit approvals) ...
All entities (free zone limited liability companies and branch offices) registered under the jurisdiction of Dubai Development Authority (DDA) are required to file their most recent audited financial statements along with a summary sheet (to be generated through their AXS portal account) on or before 31 October 2022. Entities are required to make these filings through their respective AXS portal accounts ...
All entities (free zone limited liability companies and branch offices) registered under the jurisdiction of Dubai Development Authority (DDA) are required to file their most recent audited financial statements along with a summary sheet (to be generated through their AXS portal account) on or before 31 October 2022. Entities are required to make these filings through their respective AXS portal accounts ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for August 2022. Financial Services Securities Commission Malaysia Issues Consultation Paper on Proposed Regulatory Framework for Technology Risk Management by Capital Market Entities Islamic Financial Services (Minimum Amount of Capital Funds or Surplus of Assets Over Liabilities) (Licensed Person) (Amendment) (No ...
August 19, 2022 By: Gwenneth O’Hara, Jonathan Kendrick, Mercedes Martin, and Aaron Elster Over the next decade, the United States, through enactment of the Inflation Reduction Act of 2022 (IRA), is primed to make a $369 billion investment in clean energy and climate change programs ...
August 18, 2022 By: Peter McGaw and John Epperson By now, readers likely are familiar with the series of “retail hazardous waste” enforcement actions being brought across the state of California. For several years, various retailers have been targeted for coordinated, state-wide enforcement by local District Attorneys based on undisclosed, behind-the-scenes “dumpster audits.” These businesses are then accused of disposing of hazardous waste in their trash ...
August 17, 2022 By: Gwenneth O’Hara, Nora Sheriff and Christopher Parker President Biden signed the Inflation Reduction Act of 2022 (HR 5376) (the Act) into law on August 16, 2022. This update provides a high level overview of the Act’s incentives for the energy sector. We have published a separate update regarding the Act’s energy storage incentives. The Act provides $750 billion for a range of issues, including $400 billion for energy and climate ...
