Dear valued clients, colleagues and friends, We are pleased to bring you the latest issue our quarterly Newsletter, we hope that you will continue to find its contents of value to you ...
Houst’s Restructuring Plan was sanctioned last week. It was notable because of its size, that is, the company is very small compared with the financial giants which have used the process so far - and because it used the cram-down facility to overrule HMRC in its status as a secondary preferential creditor ...
Even though Belgium is lagging behind when it comes to enacting specific legislation, companies doing business in Belgium should be aware of the risk of being held accountable for human rights violations or environmental pollution up or down their value chain. Human rights violations are a ‘hot’ topic and businesses are confronted with ethical challenges in this respect ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for July 2022. Financial Services On 30 June 2022, Bank Negara Malaysia issued a policy document on Bancassurance/Bancatakaful. The policy document shall come into effect on 1 January 2023 (except paragraphs 9.12 to 9.14 which have come into effect from 30 June 2022) ...
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INTRODUCTION Cryptocurrencies have been gaining momentum in recent years, notwithstanding various concerns and critiques about the use-case of cryptocurrencies. Cryptocurrencies are digital or virtual currencies built on the Blockchain, secured by cryptography and typically designed to operate as a medium of exchange. Cryptocurrencies had a bull run in 2021 with Bitcoin, the first cryptocurrency, rising from approximately USD7,000 in 2020 to an all-time high of approximately USD69,000 in 2021 ...
Prior to the Amendment Prior to the Amendment coming into effect, a person carrying out investment business in or from Bermuda was required to be licensed under the IBA unless they were excluded in accordance with the provisions the IBA or exempt pursuant to the Investment Business (Exemptions) Order 2004 (2004 Order). Investment business was defined in the IBA as the undertaking of a relevant activity (i.e. dealing or advising on) in respect of an investment (i.e ...
The Royal Decree No. 750 (B.E. 2565) issued under the Revenue Code regarding income tax exemption on investment in Thai startups (the “Royal Decree”) was recently published in the Government Gazette, in cases where the funding for the startups is provided directly or indirectly through Venture Capital (VC), Corporate Venture Capital (CVC), or private equity trust (PE Trust). This Royal Decree aims to unlock capital gains tax on investment in startups under the Royal Decree No ...
On June 1, 2022, the U.S. Environmental Protection Agency (EPA) issued a proposed rule that would modify its requirements for water quality certification under Clean Water Act (CWA) Section 401 (the “Proposed Rule”). The Proposed Rule would revise and replace the EPA’s water quality certification rule promulgated in 2020 (the “2020 Rule”) ...
Ohio Record-Retention Rules: How can banks defend themselves after purging account records that are essential to a future lawsuit? An Ohio customer walks into her local branch and demands access to the contents of her safe deposit box. She presents a key and a one-year lease, capable of annual renewal, from 2005. But the key not only fails to open the box – it does not even fit in the lock. And when you search for records of the lease, you find nothing ...
With its increasing population and urbanization, Thailand cannot escape from the mountains of solid waste generated in households and in communities across the country. The inappropriate disposal of solid wastes will cause serious ramifications which would be a national nightmare, such as air pollution, water pollution and contagious diseases. All of these issues are harmful not only in the environmental scale, but also in respect of the public health of each domestic sector ...
In conversation with... Our panel of experts - Nina Pindham of No.5 Chamber, Sam Grange and Will Thomas from Shoosmiths and Rhys Bradshaw from DLP Planning took a fresh look at the new "Planning" Bill and gave us their thoughts. There are many questions that many have about the new ‘Planning’ bill... Is this the final Act for s ...
Further in their specialist series Chambers and Partners have launched this year’s guide for professional advisers to wealthy individuals and organisations, providing objective guidance on an international scale. The in-depth analysis covers trends within the private client market and has ranked the leading lawyers and law firms for international private wealth ...
Simonsen Vogt Wiig has lately experienced an exceptional increase in new transactions within the offshore supply market. The traditional corporate lending, real estate and shipping markets have also stayed strong with a high volume of transactions with both banks and an increasing number of alternative project-based funding sources ...
The Moveable Transactions (Scotland) Bill was recently introduced to the Scottish Parliament. The reforms in the Bill relate to assignation outright or for security purposes of broadly defined “claims” and to fixed security over corporeal (tangible) moveables and intellectual property - and the new fixed security regime is likely to be extended to shares and other incorporeal (intangible) moveables ...
In a recent article published in Risk & Insurance, WSG Member Andrea DeField, Partner at Hunton Andrews Kurth, provides insight on cyber captive options for businesses to manage growing cyber threats and exposure, as cyber coverage terms are tightening and policy rates continue to increase. Cyber Captives 101: Is Self-Insuring the Right Risk Mitigation Choice for Your Business? Cyber coverage is tightening ...
Bill 96 ? An Act respecting French, the official and common language of Québec (the ?Act?) - was adopted on May 12, 2022 and assented to on June 1, 2022, its effective date. Certain provisions are already in force; for other provisions, a transitional period ranging from several months to three years will apply ...
Background Overseas investors’ participation in the China Inter-bank Bond Market (CIBM) has been steadily increasing in recent years due to the implementation of various opening-up regimes that allow access to the CIBM, such as the CIBM Direct, Bond Connect and QFI regimes, and the inclusion of China bonds in major international indices. At the end of 2021, overseas investors held RMB bonds of RMB 4 trillion, accounting for about 3.5% of the total market size of the CIBM ...
The essence of a service charge is that the landlord provides certain services and facilities for the benefit of the occupiers of a multi-let building and the occupiers collectively reimburse the landlord for those costs by paying a fair proportion of the costs of those services ...
An amendment to Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”) will be introduced to the Legislative Council for first reading on 6 July 20221, as the next step toward establishing a licensing regime for virtual asset service providers (“VASPs”) early next year ...
The regulations incoprorate requirements on occupational pension scheme trustees under at 2019 Competition and Markets Authority Order to carry out a tender process for fiduciary management services and set objectives for their investment consultants. The Occupational Pension Schemes (Governance and Registration) (Amendment) Regulations 2022 (Regulations) will come into force on 1 October ...
A summary of the key takeaways from a recent webinar on reducing scope 3 Sold Products emissions. Shoosmiths is delighted to be sponsoring United Nation Global Compact Network (UNGC) UK’s series of webinars on ‘Reducing Scope 3 Emissions’. The event featured guest speakers: Emma Watson, Net Zero Senior Manager, CDP & Science Based Targets initiative’s (SBTi); Mark Lancelott, Consulting Director, PA Consulting; and Emma Darroch, Responsible Business Manager, Sky ...
