In Nautilus, Inc. v. Biosig Instruments, Inc., issued on June 2, 2014, the Supreme Court established a new legal test to determine whether a patent claim satisfies the definiteness requirement of 35 U.S.C. Section 112 ...
A. Legal Framework. In the Republic of Panama, the operation of investment funds and the securities market in general is regulated by Decree-Law No. 1 of 8 of July of 1999 (as amended to date, the “Securities Act”) and the regulations issued by the SSM (the “Regulations”). The government entity that is in charge of the regulation and supervision of the securities market in Panama is the Superintendency of the Securities Market (the “SSM”) ...
The Sound Commercial Practices Guideline (the “Guideline”) published by the Autorité des marchés financiers (the “AMF”) in June 2013 and intended for insurers of persons or damages, holding companies controlled by an insurer, trust and savings companies or financial services cooperatives that are authorized by the AMF to conduct business in Quebec, including in particular those financial institutions governed by the statues of another province or country (collectively referred to hereaft
After two years of heated debate fuelled by a diplomatic scandal with the US, Brazil has enacted a groundbreaking bill of internet rights which will protect consumers and give added certainty to businesses. The government initially sought to stem the controversy related to the US government spying on Brazilian internet by proposing rules which would require all companies with operations in Brazil to keep their data stored within the country by setting up local servers ...
On June 2nd, 2014, President Michelle Bachelet entered a bill into Congress which seeks to modify Law N° 19.496 on the Protection of the Rights of Consumers (“CPA”). The message of the bill recognizes that the tools provided by the current legislation to address violations to the rights of consumers are not sufficiently efficient or dissuasive: in several cases it is less expensive for providers to pay a fine for breach of the CPA, than to comply with such regulation ...
The technology to “print” three dimensional objects with a 3D printer is not new, but as prices for the technology fall it becomes more readily available for private individuals. The possibilities that open up when individuals get access to 3D printers trigger the imagination, but the accompanying issues are not without complications. The technology, and the new areas of use to which it is put, also raises many questions, particularly regarding intellectual property rights ...
The Financial Services Authority (“OJK”) recently issued Circular Letter No. 2/SEOJK.07/2014 on Services and the Settlement of Complaints from Consumers of Financial Service Businesses (“Circular Letter”) to implement OJK Regulation No. 1/POJK.07/2013 on Consumer Protection in the Financial Services Sector (“Regulation”) ...
The Financial Services Authority (“OJK”) issued Regulation No.3/POJK.02/2014 on the Procedure for Collecting Fees charged by the Financial Service Authority (“OJK Regulation”) on 1 April 2014. The OJK Regulation provides guidelines for the OJK’s collection of fees from financial services institutions and financial services industry support professionals and their firms (Public Accounts, Public Assessors, Legal Consultants, Notaries, Actuaries) ...
Browsing the internet – even in a commercial context – does not require authorisation from the relevant copyright owners, says the EU’s top court. The Court of Justice of the European Union (CJEU) confirmed in its recent judgment in Public Relations Consultants Association Ltd (PRCA) v Newspaper Licensing Agency Ltd (NLA) and Others (Case C-360/13) that browsing the internet without a copyright owner’s authorisation does not infringe the owner’s copyright ...
The International Swaps and Derivatives Association, Inc. (“ISDA”) has published a form of amendment to the 1992 and 2002 ISDA Master Agreements intended to address continuing uncertainty regarding the condition precedent set forth in Section 2(a)(iii) of both such Master Agreements (“Section 2(a)(iii)”) ...
Although data protection laws globally are converging around a set of shared concerns, there is little prospect of their being harmonised. Ultimately, data protection and data privacy issues are rooted in local culture, and evolve in response to specific local challenges. In Europe, our data protection laws were a strong reaction against secret reporting by the state on its citizens that was widespread after the Second World War ...
SOMMAIRE Nominee in the context of litigationUse of a nominee by limited partnershi8ps and trusts for holding immovablesVoluntary registration for GST and QST purposes by a nomineeImmovables held by a nominee: issues with respect to consumption taxes NOMINEES IN THE CONTEXT OF LITIGATION Léa Maalouf In commercial matters, it frequently happens that two persons agree to hide their true intent from third parties and express such intent in a secret contract (or counter letter), while
The recent dynamic growth of virtual currencies presents the increasingly realistic chance of creation of an entirely new model of money and payment. Innovations allowing payments to be made at lightning speed, across state borders and outside of official payment systems, are appearing before our very eyes. Such payments are made without the involvement of banks or intermediaries, and often anonymously. This is a revolution not only for traditional payment systems, but also for the law ...
Many African brand owners will be familiar with the remedies that exist in cases of so-called ‘cybersquatting’. The brand owner who feels aggrieved by the fact that its trade mark has been registered as a domain name by a third party can lodge a complaint and request that the registration be cancelled or transferred to it. In the case of a .co.za registration, the complaint will be handled in accordance with the Alternative Dispute Resolution Regulations ...
The Securities and Exchange Commission (the “SEC”) recently published six new Compliance and Disclosure Interpretations (“C&DIs”) related to the verification process for accredited investors under Rule 506(c) of Regulation D. The C&DIs indicate that the SEC is strictly construing the income and net worth safe harbors for verification of a purchaser’s status as an accredited investor ...
On September 9, 2014, the Commodity Futures Trading Commission (the “CFTC”) issued CFTC Letter No. 14-116 (the “CFTC Letter”) providing exemptive relief allowing commodity pools to use general solicitation in certain types of private offerings, including offerings of private fund interests. The CFTC Letter is available here ...
GST/QST Election: Get Ready for 2015 Carolyne Corbeil and Emmanuel SalaGenerally, certain corporations or partnerships within a same group who are engaged exclusively in commercial activities, may make intra-group supplies of taxable goods or services without having to collect or remit the GST/QST otherwise applicable to such supplies ...
Last month, the North Carolina Supreme Court issued an important opinion for lenders in this state. The opinion reversed the North Carolina Court of Appeals’ decision in RL REGI N.C., LLC v. Lighthouse Cove, LLC, which found that a waiver of claims contained in a forbearance agreement could not waive a guarantor’s affirmative defense that a guaranty was obtained in violation of the Equal Credit Opportunity Act (ECOA). The Lighthouse Cove case involves a familiar story for many lenders ...
In the last week, the Securities and Exchange Commission has announced charges in two separate investigations related to its “Broken Windows” initiative, signaling that the Commission’s focus on what some may characterize as “minor violations” will continue ...
The Central Bank of Ireland has today issued its feedback statement on Consultation Paper 85 dealing with loan originating qualifying investor alternative investment funds (QIAIFs). In the feedback statement the Central Bank has announced that it will allow for the authorisation of QIAIFs that originate loans from 1 October 2014. The Central Bank's AIF Rulebook is being updated to reflect this change ...
The rise of social media in recent years has had a significant impact on people's private lives and an increasing number of companies are now using social media for business purposes. However, the opportunities and advantages offered by social media platforms also represent its greatest challenges. Companies often forget that such services do not exist in a legal vacuum – the normal legal framework is still applicable ...
It is a long held truth that businesses require more growth finance in times of economic recovery. Given the state of the economy on both a national and local level, now is the time to help Midlands based business owners and entrepreneurs. Recent figures from the British Bankers’ Association show that small businesses experienced a reduction in net lending in the first quarter this year, with repayments of existing debt exceeding new lending by £300 million ...
On September 19, 2014, the Supreme Court of Canada issued its ruling in the so called “banks’ cases”1, in the context of which consumers instituted class actions to recover the conversion fees charged on credit card transactions in foreign currencies by many institutions issuing such cards. The plaintiffs were maintaining that these charges were contravening the Consumer Protection Act (Quebec) (the “CPA”) ...
Aside from a passing reference to data protection in the Electronic Transactions Ordinance (see below), TCI has no data protection statute. However, a number of other areas of local law are applicable or, in the context of the advice sought, ought to be considered in relation to data protection, confidentiality and privacy matters. In that respect:- a. Data protection, privacy and confidentiality at common law TCI is a British Overseas Territory and is a common law jurisdiction ...
