With the Paradise papers leak in 2017 and the infamous Panama papers leak the year before, it has become increasingly more important to choose the right destination for offshore investment. It will require careful consideration, planning and skilful professional advice. It will also no doubt require a jurisdiction with a politically and economically stable environment, sound legislation, low tax (or zero tax), a solid banking framework and a discreet environment ...
In a continued effort to implement the policy changesannounced by President Obama on December 17,2014, OFAC and BIS have announced additional amendments tothe CACR and EAR, respectively, which will be published and effective on Monday,September 21, 2015.The regulatory changes discussed below are more in the lineof significant changes made to the regulations since December 17, 2014.Overall, the regulatory changes loosen restrictions on travel to and businessand investment in Cuba ...
Legal Notice 59 of 2021 has amended the annual leave provisions in the Organisation of Working Time Regulations (S.L. 452.87). With effect from the 1st of January 2021, the days of annual leave have been reduced from 27 days to 24 days but employees shall be entitled to an additional day of annual leave in respect of public or national holidays falling on a Saturday, Sunday or weekly day of rest ...
Respondents to Dykema's 2006 M&A survey generally maintain a positive outlook on the future of the U.S. mergers and acquisitions market. Responses were received from both company executives and their outside advisors. Survey respondents are looking toward strategic buyers as an increased presence in the coming year, but also forecast significant involvement by financial and foreign buyers ...
Ferdose al-Taie, Dallas-based senior counsel in Dykema’s Commercial Litigation group, authored the article “Anonymous Whistleblowers Make Millions for Reporting Their Own Companies to Federal Regulators,” forFOCUS, the quarterly newsletter of the Association of Corporate Counsel (ACC) South Central Texas Chapter. In the article, al-Taie shines a light on the ins and outs of Dodd-Frank Whistleblower awards and who is eligible for consideration ...
Last year, we reported on the important decision of the Royal Court of Jersey in April 2020 in Re Grundy [2020] JRC 071, which case our firm presented to the Royal Court and which demonstrated the flexibility of the remedies available under Jersey law where a successful application to set aside the exercise of a fiduciary power on grounds of mistake and/or inadequate deliberation is made (No re-writing history: the flexibility of Jersey’s remedies for mistake and inadequate deliber
May 31, 2023 By: Stephanie Shea The California Unruh Act (specifically, California Civil Code § 51) prohibits “all business establishments of every kind whatsoever” from discriminating based on citizenship or immigration status, among other things. That protection applies to all persons within the jurisdiction of California. At the federal level, (simply put,) the federal civil rights statute (specifically, 42 U.S.C. § 1981), prohibits alienage discrimination ...
An old adage is that history will repeat itself. In other words, all of this has happened before, and it will all happen again. Another banking crisis is upon us following the familiar cycle of financial deregulation. The failures of Silvergate, Silicon Valley, and Signature Banks provide an opportunity to learn and to act. From the early 1980s through the 1990s, Presidents and Congress worked together on “financial services modernization ...
Just weeks after the “implosion” of cryptocurrency exchange FTX, credit services provider BlockFi filed for Chapter 11 protection with the United States Bankruptcy Court for the District of New Jersey, indicating that it is burdened with billions of dollars of estimated liabilities and more than 100,000 creditors ...
The Securities and Futures Commission (SFC) issued a circular on 27 March 2020 reminding the industry of the importance of compliance with the suitability obligation. Deacons’ client alert, which you can access here provides a succinct summary of the sources of the suitability obligation and the SFC’s FAQs on the subject. The alert also drew attention to the sampling and monitoring obligations under FAQ 10, which are frequently overlooked ...
Another day, another failed colour trade mark application. But there may be some lessons to be learned from a recent Australian decision. The quest to monopolise colour goes on, and we have written on this topic on several occasions. In the latest Australian case on colour trade marks, Frucor Beverages Limited, manufacturer of an energy drink called V, applied to register the colour green as a trade mark for its energy drinks ...
Although the concept of a limited liability company has been around since 1977 when Wyoming enacted a limited liability company act, the popularity of the limited liability company has primarily grown during the last 15 years. In August 1994, the Uniform Limited Liability Company Act was adopted by the National Conference of Commissioners in an effort to create more uniformity among state limited liability company legislation ...
In light of the recent Adjusted Alert Level 4 restrictions, the TERS has officially been extended once again for certain affected employees. The new claim period is from 16 March 2021 to 25 July 2021. Applications for the extended TERS benefit opened on 19 July 2021 and payments are due to commence from 26 July 2021 ...
There has been a growing expectation that in order to fill the COVID sized hole in the Treasury's finances focus and ultimately action would be brought to bear on pension tax relief across defined benefit and defined contribution pension schemes. However, "Tax Day" has seen cuts to higher rate tax relief fail to materialise ...
The amendment to the Anti-Crisis Act includes proposals drafted by the Office of Competition and Consumer Protection (UOKiK), intended to increase the financial security of households, ensure access to vital goods and services, and combat price speculation and unjustified increases ...
The States of Guernsey has voted on what types of individual beliefs may benefit from legal protection from discrimination. The vote (by a majority of 20 to 16) concluded that the incoming anti-discrimination ordinance (the Ordinance) will provide protection from discrimination on the grounds of religious belief only. States' members rejected the proposition that the Ordinance should offer protection from discrimination on the grounds of non-religious philosophical beliefs ...
On 11 June 2020, the Discrimination Legislation (Miscellaneous Amendments) Bill 2018 (Bill) was passed at the Legislative Council. The Bill introduced amendments to Hong Kong’s four anti-discrimination legislations, namely the Sex Discrimination Ordinance (SDO), the Disability Discrimination Ordinance (DDO), the Family Status Discrimination Ordinance (FSDO), and the Race Discrimination Ordinance (RDO) (Amendments) ...
Introduction On June 24, 2022, the 13th NPC Standing Committee adopted an amendment to the Anti-monopoly Law at its 35th meeting, following the submission of a second deliberation draft on June 21, 2022. The amendment will enter into force on August 1, 2022 ...
Introduction The NPC Standing Committee on June 24, 2022 enacted the Amended Anti-monopoly Law, which entered into force on August 1, 2022 (the “amended Anti-monopoly Law”). This is the first time the Anti-monopoly Law has been amended since its promulgation nearly 15 years ago and is the legislative outcome of a four-year endeavor by China’s lawmakers since the revision work was formally planned in 2018 by the Anti-monopoly Commission of the State Council ...
The new issue of Legal Insight magazine includes a timely article by Anastasia Kayukova, Senior Associate at ALRUD Law Firm, and Anastasia Sidorenko, Junior Associate at ALRUD Law Firm. It is dedicated to the difficulties of determining the criteria, by which the FAS of Russia (Federal Antimonopoly Service) assesses the need to approve transactions related to the acquisition of “de facto” control rights ...
Competition authority imposes fines on ViktoriaOil and Vital, the leading producers of cooking oil in Serbia. The authority stated in its decision that the two companies entered into a joint production agreement that featured restrictive provisions. In particular, the authority claims that the provisions effected the exchange of information and joint production and sales in a way that led to increased prices to end consumers ...
In view of the current and imminent economic challenges, many companies are asking to what extent cooperation and concerted practices with competitors are able to ensure the supply of goods, thus cushioning the threat of an economic downturn. While the antitrust authorities have been keeping quiet on this issue for some time, several official statements have now been issued which we would like to comment on briefly below ...
Comprehensive regulation of antitrust and unfair competition activities was established in Taiwan when the Fair Trade Act came into effect in 1992 (as amended, the ¡§Fair Trade Act¡¨). The regulatory framework is similar to civil law systems such as those used in Germany and Japan. Over the past 12 years, the Fair Trade Act has been amended three times, the most recent amendments being made after Taiwan¡¦s accession to the World Trade Organization in 2002 and taking effect in 2003 ...
