The courts in busy art capitals of the world like London are often called upon to determine disputes over title, provenance, authenticity and attribution of valuable art and artefacts ...
Legislation and agencies 1 What are the main statutes and regulations relating to employment? The Labor Code of the Philippines (Presidential Decree No. 442, as amended) (the Labor Code) and the Omnibus Rules Implementing the Labor Code ...
View the PDF version of the August 2018 IP Beacon. Squarely Decided: The Fifth Circuit Sides with Spongebob On May 22, 2018, inViacom Int’l, Inc. v. IJR Captial Invs., LLC, 242 F. Supp.3d 563 (2017), the Fifth Circuit Court of Appeals upheld summary judgment in favor of Viacom International Inc. (Viacom) on its trademark infringement and unfair competition claims against IJR Capital Investments, LLC (IJR) ...
In North Midland Building Ltd v Cyden Homes Ltd, the Court of Appeal held that an express contractual term allowing an employer to levy liquidated damages for periods of concurrent delay took precedence over a common law principle known as the prevention principle. Background Cyden Homes Limited (CH) employed a contractor, North Midland Building Limited (NMB), to design and build a large house in the Midlands, under a JCT Design and Build construction contract ...
In order to implement Government Regulation No. 24 of 2018 which introduced an online system for processing and issuing certain business licenses (known as the Online Single Submission “OSS” system), earlier this year, the Investment Coordinating Board (“BKPM”) issued 2 new regulations on investment, ie BKPM Regulation No. 6 of 2018 on the Guidelines and Procedure for Capital Investment Licensing and Facilities (“Regulation 6/2018”) and Regulation No ...
The regulation on the national payment gateway has finally been issued. Bank Indonesia (“BI”), through its regulation No. 19/8/PBI/2017 (“PBI 19/8”) aims to establish national payment system interoperability by implementing switching interconnectivity. The following is a general overview of PBI 19/8 ...
The new MIACThe London Centre for International Arbitration (the “LCIA”) and the Government of Mauritius have come to a mutual agreement to terminate the joint venture that had led to the establishment of the LCIA-MIAC Arbitration Centre in Mauritius in 2011. The effective date of termination was 27 July 2018. The Mauritius International Arbitration Centre (the “MIAC”) will thereafter commence operations as an independent arbitration centre ...
The Israeli Securities Law was amended (Amendment No. 63) with a goal of turning the Tel-Aviv Stock Exchange (TASE) into a more competitive, efficient and profitable stock exchange, by outlining an ownership structure change of the TASE. The ownership structure change allows private investors, in addition to institutional investors, to acquire means of control over the TASE ...
In the recent budget exercise completed by the Bahamas Government, certain significant changes to the regime for Real Property Tax in The Bahamas were announced and have received a great deal of focus.It is important to take specific advice regarding the annual real property taxes which may be payable in respect of your property, how and when taxes should be paid, and the exemptions (if any) which might be available to you in respect of your property ...
The Internal Revenue Service has released a Private Letter Ruling ("PLR") allowing a plan sponsor to make contributions to employees' 401(k) accounts if the employees are repaying student loans. This is exciting news for employers sponsoring 401(k) plans who hope to attract and retain employees as student loan debt rises to unprecedented levels. The PLR confirmed that some student loan repayment programs linked to 401(k) employer contributions are acceptable ...
Earlier this year, the OJK issued a new regulation on financial digitalinnovation in financial services (“POJK 13/POJK.02/2018”). This is aregulatory sandbox version of the OJK (please see our Advisory on theregulatory sandbox of Bank Indonesia issued in 2017). Definitions According to POJK 13/POJK ...
It’s crazy. It’s real. It’s awry. A secretly, stupendously rich man falls in love with a poor girl. His mother declares her a gold-digger. Much gnashing of teeth ensues. Beyond its simple rom-com plot, however, the film Crazy Rich Asians has a less palatable aspect to its story: inequality and our apparent acceptance of it ...
Following the enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act, the Securities and Exchange Commission (SEC) has adopted an amendment to Rule 701(e) increasing the threshold amount of securities that can be sold during a 12-month period from $5 million to $10 million. Securities sold in excess of the threshold trigger enhanced disclosure obligations for the issuer ...
As we reported in our May 31, 2018 Alert, the California Legislature has been considering legislation to prevent joint powers authority (JPA) member agencies from contracting out of liability for the JPA's pension obligations ...
On September 10, 2018, the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valoresor “CNBV”) issued the general provisions applicable to Financial Technology Institutions (“FTIs”) (Disposiciones de Carácter General Aplicables a las Instituciones de Tecnología Financiera) (the “CNBV Provisions”), which, as of March 10, 2018, are regulated by the Law that Regulates Financial Technology Institutions
The General Provisions referred to in Article 58 of the Law to Regulate Financial Technology Institutions (“Fintech Law”), Circular 12/2018 addressed to the Electronic Payment Funds, relative to the general provisions applicable to the operations of the Electronic Payment Funds and the General Provisions applicable to the Financial Technology Institutions (“Fintechs”), were published in the Federal Official Gazette (Diario Oficial de la Federación) on Septembe
In EEOC v. BNSF Ry. Co., Case No. 16-35457 (9th Cir. Aug. 29, 2018), the Ninth Circuit held that an employer violates the Americans With Disabilities Act of 1990 ("ADA") by demanding that a job applicant with a perceived disability pay the cost of medical testing prior to being deemed eligible for employment. The employer offered an applicant a job as a Senior Patrol Officer on the condition that he satisfactorily complete a medical review ...
As we have written in a number of previous articles1, National Treasury, together with the Prudential Authority and the Financial Sector Conduct Authority, has recently rolled out various pieces of legislation to bring South Africa closer to compliance with its G20 commitment to regulate over-the-counter (“OTC”) derivatives in South Africa. Detailed requirements are now being harmonised, including through proposed amendments to existing legislation ...
Over the past year, South Africa has seen some significant changes impacting its commercial financial landscape. On the regulatory front, there has been an overhaul of the financial sector regulatory framework, including the implementation of the “twin peaks” model of regulation, comprising the Prudential Authority and the Financial Sector Conduct Authority (“FSCA”) ...
Morgan & Morgan opened its first offices in The Bahamas since 1991. We created MMG (Bahamas) Ltd. as a corporate service and later on, in 1996, founded MMG Bank & Trust Ltd., which started our financial unit´s successful path into the financial service industry ...
My time is short, so let me get to my subject without delay.I begin with a few observations on the Reality we face.First, the bad news - not all of it, just some of it; just four things that I regard as being among the more worrisome realities that confront us today.Firstly, in terms of aggregate dollar volume, we are a much smaller industry now than we were just a few years ago ...
It is fair to say that we are in an era of unprecedented multilateralism and convergence in tax matters. The Bahamas has already committed to the implementation of the Common Reporting Standard, having already signed onto the Multilateral Competent Authority Agreement and published its list of exchange partners with automatic exchanges that commence in September 2018 ...
Earlier this year, H.H. Sheikh Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai, issued Decree No. 28 of 2018 concerning the Acceptance of the Civil Petitions before Dubai Courts (the Decree). The Decree was issued by His Highness to address the procedures in filing appeals to the Court of Cassation. The Court of Cassation is the highest court in Dubai. Article No. 173 of Federal Law No ...
In the framework of a globalized world and social networks that are established as a measure of possible interest of economic, social and political groups, data protection regulations become more relevant ...
On September 20, 2018, the Department of Health and Human Services (HHS), Office for Civil Rights (OCR) announced settlements with three Boston hospitals for disclosing Protected Health Information (PHI) to ABC News documentary filmcrews.[i] In total, the hospitals paid OCR $999,000 to settle potential violations of the Health Insurance Portability and Accountability Act (HIPAA) Privacy Rule ...
