An incoming Manco needs Guernsey Financial Services Commission (“GFSC”) consent to migrate to Guernsey as well as a licence to conduct fund management under the Protection of Investors (Bailiwick of Guernsey) Law 2020 (the “POI Law”). The fast track regime can be used to combine these two processes within 10 business days or alternatively the licencing of a newly incorporated Guernsey entity within 10 business days ...
How does Singapore's business environment make it an attractive location for foreign law firms? Anthony McKenzie: Singapore is considered a favourable destination for doing business due to its political stability, strong legal framework, well-regulated financial sector, competitive tax rates, excellent infrastructure and pro-business policies that attract foreign investment. It has a highly skilled and educated workforce with a strong emphasis on innovation and technological advancements ...
September 20, 2023 By: Michael Flynn The Financial Crimes Enforcement Network (“FinCEN”) has published a new Small Entity Compliance Guide (“Guide”) for compliance with the Beneficial Ownership Information Reporting Rule (“Reporting Rule”), 31 CFR 1010.380. The Guide may be found here ...
Shoosmiths explore the need for regulation in the evolving landscape of Web 3.0 and the Metaverse, focusing on recent approaches to regulating emerging technologies, and the importance of striking a balance between flexibility and effective safeguards. At a Web 3 ...
The International Organization of Securities Commissions (IOSCO) has published its policy recommendations for decentralised finance (DeFi) as a consultation paper. Responses are due by 19 October 2023 ...
Dinsmore attorney Ben Carnahan co-wrote the following article with Jeff Clawson for Cleveland Bar Association's publication, Bar Journal. Ben is a banking and financial services partner in the Firm's Cleveland office. Bankers, lawyers and business professionals all love a good high net worth client. But, not all of us can represent the fat cats all of the time, nor should we ...
The SEC Division of Examinations (the “Division”) issued a Risk Alert on September 6, 2023 that describes the Division’s risk-based approach for selecting advisers to examine and outlines the scope of areas to be examined ...
On September 11, 2023 the SEC announced settled Administrative Proceedings with nine investment advisers for advertising hypothetical performance to the general public on their websites without adopting and/or implementing policies and procedures required by the Marketing Rule. In addition, two of the investment advisers failed to maintain required copies of their advertisements ...
A JV is commonly defined as a combination of two or more parties (people or entities) that is formed to acquire or develop and own, lease, manage and sell one or more real estate assets. The JV typically has two categories of partners: the “operating partner” and one or more “capital partners.” JVs are frequently used by experienced real estate developers to obtain the capital they need for their projects ...
In its 2023 edition IFLR 1000 ranked Mamo TCV Advocates as a Tier 1 firm. In its review, IFLR noted the firm’s recognition in the financial and corporate space, due to its strong international practice and active participation in all areas of commercial law. More details can be found here ...
Decentralized Finance (DeFi) represents an emerging financial model that utilises distributed ledger technologies to provide functions like borrowing, investing, or trading digital assets, all without the need for conventional centralised intermediaries. Here is a quick update with what is occurring on the international stage ...
On August 28, 2023, Supreme Decree No. 61 (the "Regulation") was published in the Official Gazette, which approves the regulation of Law No. 21,349 on "Composition, Labeling and Marketing of Fertilizers and Biostimulants" (the "Law"). Content of the Regulation In general terms, the Regulation covers the following matters: Classification of fertilizers, biostimulants and blends, establishing requirements by class. Composition, quality parameters and labeling. Sampling and analysis ...
When does the directors' duty arise to consider creditors' interests in the face of insolvency if a liability is disputed? Hayley Capani and Kate Garcia consider the case of Hunt v Singh and conclude we still don't have all the answers. When the decision in Sequana was handed down, commentators expressed both disappointment and (dare we say it) joy that a clear test had not been laid down as to when the creditor duty arose ...
Blockchain litigation lead, Matt Green will be hosting our latest podcast series, 'In Early - The Crypto Podcast' - Listen to episode 19. Episode 19 features Jonny Fry the Crypto AM Influencer of the year 2022. With a wealth of knowledge in this sector, Jonny runs Digital Bytes, which creates and distributes a weekly roundup of the biggest stories in the world of digital assets, and is the CEO of Team Blockchain ...
According to Supreme Decree 12 dated June 8, 2020, issued by the Ministry of Environment ("DS 12/2020"), on September 16, 2023, collection and recovery goals and ancillary obligations for producers of containers and packaging (the "Producers") within the context of Law 20,920 ("EPR Law") will become enforceable. DS 12/2020 establishes, among others, the following obligations for the Producers: Register in the Pollutant Release and Transfer Register, and provide the information requested ...
PCC Issues Motu Proprio Merger Review Guidelines for Digital Markets On 21 August 2023, the Philippine Competition Commission (“PCC”) issued the Guidelines for the motu proprio review of Mergers and Acquisitions in Digital Markets (the “Guidelines”) to provide greater transparency and predictability over the PCC’s power of motu proprio review of mergers and acquisitions (M&As) within the digital market ...
With the objective of reducing the effects of climate change and guaranteeing access to energy in different latitudes, the figure of Energy Communities has been developed. These are legal organizations made up of a variety of partners that may include individuals, associations, small and medium-sized companies, government entities, among others. Climate change is a real existential threat that requires concrete and decisive action ...
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The new biodiversity net gain (BNG) requirements are set to come into force from November 2023. This will legally mandate securing a minimum 10 per cent biodiversity net gain from new commercial and residential developments in England, with a few exceptions. While the requirements - part of the Environment Act 2021 – will have financial and operational implications, the real estate industry has had several years to prepare for BNG ...
Activity levels in the residential development market remain lower than developers, lenders and other real estate professionals have become accustomed to over the last 15 years. With 14 base rate rises implemented by the Bank of England (BoE) in the last 18 months - now at 5.25% - the UK is currently subject to the highest base interest rate since 2008 ...
Blockchain litigation lead, Matt Green will be hosting our latest podcast series, 'In Early - The Crypto Podcast' - Listen to episode 18. This week Matt speaks to the man claiming two names - Dr Craig Wright and Satoshi Nakamoto ...
On August 23, 2023, the extracts from the minutes of the meeting of the Sub-commission of the Government Commission for Control over Foreign Investments in the Russian Federation No. 182/5 dated August 09, 2023, were published. (“Extracts No. 182/5”). The said Extracts No ...
General aspects The Chilean Agency for Economic Development (Corporación de Fomento de la Producción - "CORFO") has announced a series of amendments to its venture capital investment fund financing programs: Early Technological Stages Fund ("FET"), Early Stages Fund ("FT"), and Development and Growth Fund ("FC"). The most significant changes approved by CORFO are listed below, distinguishing between amendments common to all programs and those specific to each one ...
