The State Bank of Vietnam (“SBV”) released a draft Circular on 11 May 2022 strengthening conditions for non-government guaranteed foreign loans (the “Draft Circular”) which aims to replace Circular No. 12/2014/TT-NHNN (the “Current Circular”). In the Draft Circular, the SBV indicates its intention to tighten control over foreign loans to address the risks on currency fluctuation and the national debt limit ...
In 2019, the Oregon Legislature passed House Bill 2001, which was aimed at providing more affordable housing to Oregonians. To achieve that goal, HB 2001 made it easier to build denser housing in residential zones by requiring medium-size cities to allow duplexes on each lot or parcel zoned for residential use that allows single-family homes ...
A summary of the key takeaways from a recent webinar on reducing scope 3 leased assets emissions. Shoosmiths is delighted to be sponsoring United Nation Global Compact Network (UNGC) UK’s series of webinars on ‘Reducing Scope 3 Emissions’ ...
Shortly after his administration began, President Biden signed Executive Order 13985, "Advancing Racial Equity and Support for Underserved Communities Through The Federal Government." In April 2022, in accordance with this Executive Order, the Equal Employment Opportunity Commission ("EEOC") released its "Equity Action Plan," which contains several items that may impact employers ...
While Oregon has enjoyed a relatively mild spring, summer is right around the corner—and with it comes the risks of extreme heat and wildfires. Although Oregon Occupational Safety and Health Administration (Oregon OSHA) previously issued guidance for employers to protect their employees from these risks, the agency recently adopted formal rules related to exposure to heat and wildfire smoke ...
In a class action lawsuit filed Monday in the United States District Court for the Northern District of California, Binance.US (Binance), a major cryptocurrency exchange, has been accused of misleading investors surrounding the Terra blockchain ecosystem. This is the first major court filing in the United States relating to Terra, whose UST and LUNC tokens crashed in May, wiping out around $40 billion in investor funds ...
On the 25th of May 2022 the General Department of Taxation (“GDT”) issued Notification No. 10979 GDT on the “Required Documents to Support the Interest Charge on Related Party Loans” (“Notification 10979”). The key points to be taken from Notification 10979 are as follows: To ensure compliance with Prakas No. 986 MEF.P ...
June 13, 2022 By: Melissa Richards On June 9, 2022, the California Department of Financial Protection and Innovation (CA DFPI) issued its long awaited final regulations implementing SB 1235’s (2018) new early disclosure requirements on commercial financing offers equal to or less than $500,000. The CA DFPI regulations take effect December 9, 2022. The final regulations can be found at Title 10, Chapter 3 of the California Code of Regulations. The link to Chapter 3 is HERE ...
In this recent article published in Engineering News, WSG Member Mihlali Sitefane, Senior Associate at ENSafrica, provides insightful information on the importance of renewable energy project developers paying closer attention to stakeholder management to avoid pitfalls ...
The U.S. EPA proposed a new rule under the Clean Water Act reversing the Trump Administration’s rule for water quality certifications under section 401 of the Act. Section 401 provides states and tribes with authority to protect waters within their jurisdiction from pollutant discharges originating from federally-licensed or -permitted projects ...
Mutual fund managers have long been important institutional investors in the capital markets. At present, there remain issues to be improved in the mutual fund industry, such as insufficient suitable professional capabilities, culture development weaknesses, and structural imbalances. In light of this, the China Securities Regulatory Commission has put forward the following guiding opinions to promote the developments of the mutual fund industry ...
In September 2019 government announced a review of the system for children and young people with Special Educational Needs and Disabilities (SEND) in England. The current SEND regime introduced in 2014, is considered by many to be unfit for purpose, both in terms of accountability and consistent quality of support and adequate funding to local authorities to make the system work ...
WHAT IS OPEN BANKING? We had earlier delved into the concept of Open Banking and its regulatory framework in our articles accessiblehere[1]andhere[2].In summary, Open Banking is a system that grants third-party providers (TPPs) open access to consumer banking, transactions, and other financial data from banks and non-bank financial institutions(NBFIs) through the use of Application Programming Interface (API) ...
Arbitration provisions are becoming more common in construction contracts, but a recent court decision reveals that enforcing these provisions requires more than just placing them in a contract. Contractors, especially those seeking to arbitrate claims involving multiple property owners or an entire homeowner or condominium association, must sufficiently establish that enough of the property owners agreed to arbitrate their claims. Mattamy Florida LLC .v ...
Much recent attention has been on Florida’s Governor Ron DeSantis’ signing of extensive property insurance law changes in Florida. But on May 26, the governor also signed Senate Bill 4. While SB 4 primarily deals with condominium inspections and safety, the bill also changes part of the state law that enacts and governs Florida’s Building Code and changes the amount of a roof that must be brought up to current codes in the event of damage and repair ...
New Florida Statute Changes Building Code Requirements for Roof Repairs In May, Florida’s legislature met for a special session to address issues with property insurance claims and rates within the state ...
Financial Products and Services Consumer Protection Act On May 06, 2022, Republic Act (RA) No. 11765, or the Financial Products and Services Consumer Protection Act, was signed into law ...
Shoosmiths recently sponsored Cornwall Insight’s Financing Net Zero webinar on ‘Unlocking battery storage revenues’. Here we provide a summary of the key takeaways from the webinar. Battery storage is developing at pace as a critical element of global net zero ambitions. Strong wholesale volatility and record high ancillary service prices have supported revenues for storage across the past year, boosting the business case for the technology ...
A summary of the key takeaways from a recent webinar on reducing scope 3 waste-related emissions. Shoosmiths is delighted to be sponsoring United Nation Global Compact Network (UNGC) UK’s series of webinars on ‘Reducing Scope 3 Emissions’ ...
Lauren Bowkett is a Principal Associate in the Financial Crime Team at Shoosmiths. Her expertise is in white collar crime and Proceeds of Crime Act (POCA) related matters, with specific knowledge in the restraint and seizure of cryptoassets ...
