Contents Government attitude and definition Cryptocurrency regulation Ongoing obligations Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition Bermuda has been recognised as a global leader in the regulation of blockchain and cryptocurrency-b
Contents Legal and Enforcement Framework Blockchain Markets Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? Bermuda has a digital asset sector specific legal and regulatory re
Contents Please click on the links below to jump to the relevant section: Legislation Relevant entities Relevant activities Tax residence requirements Guidance General requirements Directed and managed Core-income generating activities (CIGA) Premises Employees and personnel Expenditure Enhanced requirements Reduced requirements Outsourcing Enforcement authorities Reporting formalities Demonstrating compliance Penalties Recent developments Legal framework Legisl
The President characterised this initiative as one necessary to counter "a pandemic of the unvaccinated", stating, "This is not about freedom or personal choice. It’s about protecting yourself and those around you" ...
Bermuda investment funds update Q1 2024 Bermuda Monetary Authority Investment Fund Statistics (Q3 2023) Recent amendments to the funds regime highlight Bermuda’s commitment to a comprehensive and innovative approach to the underlying legislative framework applicable to funds and Bermuda’s status as a premier international financial centre ...
In summary, in most jurisdictions, trust assets will be more vulnerable to attack from a settlor’s creditors in the following scenarios: A settlor’s retention of dispositive powers (particularly positive powers e.g. powers to direct the trustee in contrast to a power to veto a trustee’s proposal) generally renders a trust more vulnerable to attack by creditors. Retaining powers to revoke the trust and/or a general power of appointment (i.e ...
Content Legal and enforcement framework Definitions Virtual currencies market Crossover with banking Technology Data security and cybersecurity Financial crime Consumer protection Competition Taxation Trends and predictions Tips and traps Legal and enforcement framework In broad terms, which legislative and regulatory provisions govern virtual currencies in your jurisdiction? Bermuda has a digital asset sector with a specific legal and regulatory regime that governs both the i
Bermudian lawyer Yan-Xia Rogers returns home to join Carey Olsen Yan-Xia will specialise in corporate and commercial law, advising clients on a range of cross-border transactions, mergers and acquisitions, and corporate governance matters. Having moved to London in 2020, Yan-Xia worked for a year as a paralegal at Broadgate Legal before training as a solicitor at Kennedys Law LLP in London, with a focus on regulatory, corporate, product liability law and insurance litigation ...
A key quality for a successful attorney, leader of an organization, claims professional or human resource professional requires effective negotiation skills to resolve conflict and disputes. Negotiating over 1,000 such disputes as an attorney and mediator has been a tremendous education on how to successfully resolve disputes and conflict ...
The tsunami of consolidation activity in the dental services industry has created remarkable financial opportunities for dentists and investors. Primarily, these opportunities play out in the form of Dental Services Organizations formed by entrepreneurial dentists and/or private financial interests through the acquisition of established, profitable practices ...
The following is a list of best practices applicable to the share class review process. This guide aims to provide helpful tips regarding the process of replacing an advisory client’s existing mutual fund share class with a lower-cost alternative, where it is identified that a replacement option exists and may be available for placement in the client’s account at the custodian. Review of share classes on a periodic basis ...
It is the rare construction project that is completed without any change in the work. In most sophisticated construction projects, the contractual mechanism for managing these changes involves the issuance of a change order. However, managing change orders is not something project teams are always well-trained on, which can cause issues for small and big contractors alike ...
Proposition 19, which was marketed as a provision to benefit homeowners who are over 55, the disabled, and wildfire/disaster victims, actually contained major property tax increases. The increased property taxes will be paid by children and grandchildren that receive California real estate (primary residences and all other properties) from their parents and grandparents ...
The Quebec Court of Appeal recently rendered a long-awaited decision in a consumer protection class action. On February 26th, the Court dismissed the main appeal and cross-appeal in Brault & Martineau Inc. vs. Riendeau(1) for the reasons for which were written by Justice Duval Hesler, which were endorsed by both Justice Gendreau and Justice Dal phond ...
The global financial crisis which began in 2008 elevated the prosecution of crimes affecting federally insured financial institutions to near the top of the Justice Department’s priority list. Directors and officers of those institutions, already under scrutiny from the regulators and law enforcement agencies traditionally charged with examining their actions (e.g ...
As of 1 January 2012, shareholders of listed companies will obtain more rights as aconsequence of the transposition of the EU Shareholders’ Rights Directive intoBelgian federal law. However, unlike the Directive, the new Belgian Act alsoallows non-listed companies, mainly on an optional basis, to apply theShareholders’ Rights Act. On 20 December 2010, the Shareholders’ Rights Act was ratified ...
On 25 February 2022, the High Court handed down its judgment in Corbin and King Ltd v AXA Insurance UK Plc [2022] EWHC 409 (Comm), giving further guidance on business interruption (BI) claims resulting from COVID-19 restrictions. However, permission has now been granted to appeal. The policyholder friendly judgment gives guidance on aggregation and the application of the Supreme Court’s causation reasoning to non-damage denial of access (NDDA) clauses ...
with the assistance of Robert La Rosa, student-at-lawOn October 28, 2010, Justice Yves Poirier of the Quebec Superior Court rendered a decision, which enforced the application of new section 54.1 of the Bankruptcy and Insolvency Act (hereinafter the “BIA”). The case, Aliments Möpure inc. (Avis d’intention et de proposition de) (“Möpure”), addressed the question of whether a creditor advancing an equity claim has the right to vote at creditors’ meetings ...
Bradley attorneys Aron Beezley and Nathaniel Greeson highlight the administrative bid protest landscape in New York given the state's abundant acquisition economy. New York state's budget is the second largest in the country, and with it, New York has some of the most developed state acquisition laws and procedures in the country. Accordingly, New York provides comparatively robust bid protest rights when it comes to state-level bid protests ...
On Friday, July 9, 2021, President Joe Biden signed an executive order directing various federal agencies to implement 72 specific actions intended broadly to increase competition in the American economy. The executive order is intended to impact a wide range of economic activity, including mergers and acquisitions, occupational licensing, anticompetitive behavior, and prices of medical devices and prescription drugs ...
Dinsmore partner of counsel Frank Mamat contributes columns and analysis about labor and employment topics for the Small Business Association of Michigan's newsletter and website. In this edition, Frank and Dinsmore attorney Erik Bradberry write about legislation proposed in Michigan that would change what defines an independent contractor ...
Advertising in the Federation of Bosnia & Hercegovina is regulated through a series of laws and regulations (example: Law on Consumer Protection of BiH, Law on Media, Law on Medical Products etc.), but with the new Law on Prohibited Advertising (Official Gazette of FBiH 101 / 16, the "Law"), which entered into force on 31.12 ...
The Law on Financial Operations On the 30th of December 2016, the application of the Law on Financial Operations (Law) will commence in the Federation of Bosnia and Herzegovina. The Law is intended to ensure the proper functioning of the internal market by introducing adequate and systematic risk management measures and solvency measures, as well as to promote the competitiveness of local commercial enterprises by legislating a culture of prompt payment ...
