The Markets in Crypto Assets Regulation (MiCA)1 provides the legal framework for digital asset services within the European Union. This regulation, detailed with its 149 articles and 6 annexes, mandates that entities wishing to provide digital asset services across the EU must secure authorisation in one of the EU Member States ...
On January 4, 2023, Law No. 21,521 was published, which promotes competition and financial inclusion through innovation and technology in the provision of financial services (“Fintech Law”). The Fintech Law introduces a series of legal amendments to various regulatory bodies, including Law No. 19,913, which creates the Financial Analysis Unit (“UAF”) and amends various provisions on money laundering (“Anti-Money Laundering Act”) ...
Shoosmiths’ FinTech partner, Luke Stubbs, was a speaker at the recent FinTech Week London Conference, participating in a panel discussion focused on international payments. FinTech Week London reflects the City's role as a FinTech hub and comprises a week of events culminating in a major conference, which Shoosmiths was proud to sponsor ...
Investments or acquisitions in convertible notes and options are now subject to the same approval requirements as investments or acquisitions in shares. The monetary thresholds applicable to private business investment have been raised with effect as of 1 January 2010 to total assets of the investee of A$231m and, for U.S. investors, A$1004m ...
As we informed you previously, on 19th June 2020, Federal Law No. 171-FZ, dated 8th June 2020, (“Law”) introducing some critical amendments, aimed at protection of the Russian-sanctioned entities, entered into force. These amendments were made to the Russian Arbitrazh Procedure Code, which governs litigation in state commercial courts. Please find a brief summary and analysis of this novel legislation at the following link ...
On August 6, 2020, the U.S. Court of Appeals for the First Circuit affirmed the conviction of Massachusetts gynecologist Rita Luthra for criminal HIPAA violations and obstructing a health care investigation. Although such HIPAA prosecutions are uncommon, the case underscores the risks health care providers and others run when handling protected patient information and when speaking with government investigators ...
The First Circuit recently held that complaints filed first under the False Claims Act’s first-to-file rule do not need to satisfy Federal Rule of Civil Procedure 9(b)’s particularity requirement. See United States ex rel. Heineman-Guta v. Guidant Corp., 2013 WL 2364172 (1st Cir. May 31, 2013) ...
The First Circuit recently reinstated part of a False Claims Act complaint against a drug-testing laboratory, and in so doing, may have limited the reach of the FCA’s public disclosure bar. In U.S. ex rel. Cunningham v. Millennium Labs. of Cal., Inc., 2013 WL 1490435 (1st Cir. April 12, 2013), the First Circuit held that the district court erred in dismissing the entire FCA complaint merely because the action was based in part on prior public disclosures ...
Recent statistics from London’s Commercial Court and major arbitration institutions confirm London’s reputation as an international hub for dispute resolution, with English law remaining the most popular choice for the resolution of international disputes ...
The National Security and Investment Act 2021 (NSIA) came into force on 4 January 2022. The UK’s Department for Business, Energy and Industrial Strategy (BEIS) published last month its first Annual Report on the NSIA in its first three months of operation. More on this can be found here ...
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There are two questionnaire forms on the Treasury: Form 3509 for for-profit borrowers and Form 3510 for non-profit borrowers ...
In what appears to be a first under the False Claims Act, a case based on flawed cybersecurity has been settled, for nearly $9 million. On July 31, 2019, the Attorney General of New York announced that, alongside the U.S. Department of Justice, New York, eighteen other states, and the District of Columbia have reached an $8.6 million settlement with Cisco Systems, Inc. (“Cisco”) over sales of surveillance video software allegedly vulnerable to hacking ...
The General Data Protection Regulation (GDPR) provides for a significant increase of the maximum possible fine for legal infringements compared to previous data protection legislation. Fines of up to 20 million euros or 4 percent of the worldwide annual turnover, whichever is higher, can be imposed (Art. 83 para. 5 GDPR). Yet, the first few months after the introduction of the GDPR in May 2018 were uneventful in this regard. That is now changing, however ...
For most of the last decade, creative plaintiffs attorneys and their clients — states, municipalities and environmental groups — have pushed novel, untested tort theories designed to hold energy companies, and sometimes, those same state and municipal interests, liable for climate change. Plaintiffs have concentrated their efforts in West Coast forums. But New York and Baltimore saw some action too. Florida, by and large, has avoided the fray. No longer ...
The largest U.S.-based for-profit multi- campus international university became the first benefit corporation to go public on February 1, 2017 raising $490 million. This is a significant financial event and shows that the financial markets are available to companies that combine a positive social and environmental purpose along with shareholder profit ...
Key Points As the State begins to open back up, COVID-19 employment related litigation also begins. Several trends have emerged. On an individual and class-wide basis, Plaintiffs cite disability discrimination, emotional distress, retaliation, reimbursement, public nuisance and WARN Act claims, among others ...
Barely a week ago on December 29, 2023, China's legislative body passed and President Xi Jinping signed into law the newly revised Company Law, effective from July 1, 2024 (the "New Law"). It makes a big splash to the business community for both the law's as-pillar significance, and the striking degree of revisions (over a quarter of provisions are involved with major changes) ...
The Autonomous Bus and Minibus Pilot Project 1 (the “Pilot Project”) came into effect in Quebec recently. The project provides guidelines for the regulated driving of the first autonomous vehicles on Quebec’s roads ...
Poland’s National Appeal Chamber (KIO) issued an order on 5 September 2016 of great practical significance, applying new procurement rules on the permissibility of appeals by contractors interested in bidding for public contracts below the EU thresholds ...
On 15 December 2016, Foxtel and a number of movie studios secured the first site blocking orders in Australia. The orders of Nicholas J of the Federal Court require the major Australian ISPs to block access to a number of infamous sources of illegal content, namely, The Pirate Bay, TorrentHound, IsoHunt, Torrentz and SolarMovie (Pirate Sites) ...
The new framework for assessing non-domestic property rateable values has been set out under the draft Non-Domestic Rating Bill, introduced to Parliament on 23 March 2023 – but only likely to take effect on or after 1 April 2024. As business rates policy is fully devolved, not all of these measures will apply in Wales. The more regular revaluations should keep rateable values closer to market reality ...
On 15 September 2021, the SFC issued a press release relating to the Consultation Conclusions (Conclusions) on proposals to amend its anti-money laundering and counter-financing of terrorism (AML/CFT) guidelines, approximately one year after the SFC issued the consultation paper (Consultation) on 18 September last year ...
[!<CDATA[ I have worked at two law firms and participated in dozens of interviews at both with associate candidates. Whether you are interviewing in person or remotely, there are questions for which you should always be prepared. In addition, there is information you should be ready to provide even if you are not asked for it directly. The following are the five things that I believe every law student should know before interviewing with a law firm. 1 ...
Reid Hoffman is an American-based venture capitalist, author and entrepreneur at Greylock Partners who is best known for being the co-creator of the social network, LinkedIn ...
