On 16 May, a letter was signed by over 50 participants and groups from the digital asset industry. They sent it to the Speaker and Minority Leader of the U.S. House of Representatives, urging them to back a Bill (HR 4763, the Financial Innovation and Technology for the 21st Century Act or “FIT 21”). FIT 21 is expected to be debated and voted on this week ...
In the turmoil of adjusting and living day-to-day in this time of the COVID-19 virus, the public has become more attuned to the reality of the term “Supply Chain.” We are gaining a better appreciation that before products reach the consumer, an extensive network of shippers and transportation entities of all types and modes of commerce, as well as freight brokers and any other functions essential to the delivery cycle, are at play 24/7 ...
The advent of blank cheque company IPOs. Special Purpose Acquisition Companies (SPACs) have taken the corporate world by storm. These “blank cheque” shell companies, which raise funds in their initial public offerings (IPO) to invest in potential but as yet unidentified target businesses, have fuelled a listing frenzy in the US. SPAC IPOs have garnered US$87.9 billion in fundraising in the first three months of 2021, already exceeding last year’s total ...
The freeze partnership is an often overlooked estate tax planning tool. Unlike more common estate tax planning vehicles, the freeze partnership is not a trust and, as the name implies, is a closely-held partnership, limited partnership or LLC (in this article, the term partnership will be used to refer to partnerships, limited partnerships and LLCs) ...
There a number of reasons why Hong Kong banks freeze a customer’s bank account but this article is limited to exploring why Hong Kong banks may be required to do so for money laundering reasons. The money laundering offence in Hong Kong law The offence of “money laundering” is prosecuted in Hong Kong under section 25(1) of the Organized and Serious Crimes Ordinance, Cap. 455 (“OSCO”) ...
MMF Regulation: The European Parliament's Committee on Economic and Monetary Affairs (ECON) published its report (which includes the draft regulation) (dated 4 March 2015) on the proposed Regulation on Money Market Funds (MMF Regulation). The EU Parliament is scheduled to consider the legislative proposal on 27 to 30 April 2015. ESMA AIFMD Q&AESMA has published updated AIFMD Q&A with new reporting issues and some additional guidance on marketing ...
Earlier this year, the Inquiry regarding Procurement Services published its opinion "The future for the Procurement Assistance". The Inquiry’s mission is to propose how procurement assistance should be coordinated in order to increase competence, availability, consistency and visibility for procurement market participants ...
What is Fintech? The term fintech refers to the technologising of the financial industry. Fintech has become ever more recognized in the past few years, especially amidst COVID-19 in which demand for cashless payments and quick transactions have increased. Fintech exists in our daily lives from online banking to blockchain and to cryptocurrencies ...
Yesterday, Shoosmiths hosted an event by The Fashion Network titled ‘The Future of Social Commerce: Connecting Business with Community’. During this event we heard from fashion industry leaders on social commerce's transformative impact on fashion and FMCG ecommerce - in partnership with The Ecommerce Club ...
The role of the Millennial lawyers and the recent incorporation of Artificial Intelligence (“AI”) in law firms are current trending topics. As a 27-year old associate of a law firm based in Guatemala City, every time I read about AI and that global law firms are incorporating AI to their practice, I ask myself, will I be replaced by it (or IT) ...
The Paycheck Protection Program (the “PPP”) was passed into law by Congress as part of the CARES Act earlier this year in response to the COVID-19 pandemic. While considered a relative success at its intended goal of temporarily preserving jobs during the pendency of the pandemic, the PPP ended its initial run with tens of billions of dollars left on the table and frustrated borrowers and lenders because of opaque and frequently changing rules and regulations ...
The pandemic alongside a renewed focus on climate change following COP26 and the growing interest in ESG credentials are all contributing to a changing world of work ...
With all the changes to the world of work that we have recently experienced and are continuing to experience, our webinar programme this year is focused on the future of work and in particular the hot topics HR teams are having to handle now in order to future proof their organisations. Our latest seminar focused on recruitment and retention ...
pMany development authorities and other economic or industrial development authorities in the State of Georgia (each, an “Authority”) offer “Economic Development and Incentive” programs for private companies which commit to make new capital investments that promote trade and commerce and provide new employment or retain existing employment ...
On March 15, 2006, the German Federal Cartel Office published a new Leniency Program, which replaces the previous Notice 68 of 2000. With this Program, the FCO offers cartel participants wishing to leave a cartel and cooperate with the FCO immunity from or reduction of fines. A summary of the new Program can be found at: http://www.worldservicesgroup.com/files/groups/1494_0330023908 ...
The German Federal Ministry of Justice and Consumer Protection (BMJV) has submitted its long-awaited proposal for a Corporate Sanctions Act (VerSanG). When corporate crimes are committed, it is making provisions for independently prosecuting the entire organization in addition to prosecuting single perpetrators ...
The GFMA recently provided its response to the Financial Stability Board’s (“FSB”) consultation paper (“the Paper”) titled Addressing The Regulatory, Supervisory And Oversight Challenges Raised By “Global Stablecoin” Arrangements. The GFMA put forward certain recommendations to support the implementation of global stablecoin (“GSC”) arrangements provided for in the Paper ...
There was an interesting article in a publication called TBO (Trademarks and Brands Online) entitled Fluid Trademarks: Keeping Them Watertight. As the title suggests, it deals with fluid trade marks. But what exactly are they? ‘Fluid trade marks’ isn’t some obscure way of describing trade marks that are used for beverages. The term rather refers to trade marks that vary in use. The article says that ‘fluid trademarks are those presented in an unconventional way.. ...
The Indonesian government has recently issued Government Regulation No. 3 of 2020 (“New GR”) amending Government Regulation No. 14 of 2018 (“GR 14/2018”) on Foreign Ownership in Insurance Companies, which came into effect on 20 January 2020 ...
On March 28, 2024, the Department of Finance Canada announced a one-year extension to the 15% Mineral Exploration Tax Credit (?METC?) available to investors in flow-through shares. The extension means that the METC will be effective until March 31, 2025. This announcement came at a time when uncertainty loomed over the industry and some stakeholders feared that the government would not renew the METC. Over time, this tax credit has become a key component of flow-through share financings ...
Dear Sirs, On June 1, 2010 the Government of the Russian Federation adopted amendments to the Decree of the Government of the Russian Federation on Establishing Value of Assets of Credit Organizations for the Purposes of Antimonopoly Control No.335 dated May 30, 2007 (hereinafter “Decree on Establishing Value of Assets of Credit Organizations”) ...
Earlier this month, Deputy Attorney General (DAG) Lisa Monaco delivered a shot across the bow to individuals responsible for corporate malfeasance, and the companies that protect them. On September 15, 2022, in a memorandum and in public remarks, she issued marching orders to federal prosecutors and a warning to corporate America. She made clear that the Department of Justice (DOJ) would seek and allocate significant resources to “prioritize and prosecute corporate crime ...
Covid-19 makes it difficult for shareholders and members to attend annual general meetings in limited liability companies and other legal forms of association. Shareholders might belong to a risk group or having difficulties to travel to the place where the meeting is held. A limited liability company or association may not refrain from holding the annual general meeting or to postpone further than the last permitted date (six months after the end of the financial year) ...
Advanced Personal Injury Law Course 2003
On 17 May 2016, the Competition Commission (the “Commission”) held a press conference to update all stakeholders on the Grocery Retail Market Inquiry (the “Inquiry”). The press conference introduced the Inquiry Panel (the “Panel”) and provided an opportunity for stakeholders in attendance to ask any questions to assist in clarifying the purpose of the Inquiry and what can be expected during the process. A summary of the press conference is set out below ...
