Contrary to Anglo-Saxon and Northern European countries, French financial institutions have not used asset based lending, both because French security law was perceived as debtor friendly in insolvency proceedings and because French banks usually lend against balance sheets.In the context of credit restrictions, the French government was challenged to foster a reform aimed at facilitating the mobilisation of assets, in particularby SMEs, which have no credit rating ...
The French State guarantee of 300 billion euros scheme to secure loans granted by banks to companies affected by the Coronavirus pandemic. This was set up by Amendment to the French budget law for 2020 dated 23 March 2020[1] (completed by two arretés dated 23 March 2020 and 17 April 2020 and modified by the second amendment to the budget law dated 25 April 2020[2]) is already a success ...
On February 13, 2020, in Frlekin v. Apple, Inc., No. S243805 (Cal. 2/13/2020), the California Supreme Court determined that Apple employees must be paid for time spent waiting for and undergoing exit bag searches. Although Apple does not require its employees to bring bags to work, the Court concluded that the search time amounts to time under which the employees are under Apple's "control," as that term is defined in the California Wage Orders ...
In commercial real estate transactions, time is money, execution is everything and projects generally do not move forward without a mortgage loan. Lenders and their counsel should view a project as if the lender is the eventual buyer, owner and seller. For developers, considering the transaction from a lender’s point of view can save them considerable time and money and expedite loan closing ...
Early on the morning of June 13, 2017, over one hundred federal agents raided facilities across southern California belonging to behavioral health provider Sovereign Heath. The agents provided search warrants indicating that they were seeking evidence of fraudulent billing and kickbacks ...
The Supreme Court of Appeal decision in the matter of Pather v Financial Services Board concerns a challenge to the jurisdiction of the Enforcement Committee of the Financial Services Board (“FSB”) to deal with market abuse, specifically in this case publishing false statements that resulted in an overstatement of the performance of their company. The two appellants were Maslamony Pather and Ah-Vest Ltd (formerly All Joy Foods Ltd) ...
On January 19, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here and here. The original deadline for comments on the proposed rule was March 20. On March 6, the FTC announced it is extending the deadline to submit comments to April 19. As of March 9, a total of 16,965 comments (8,848 electronically) have been received on the proposed rule ...
HSR Notice Thresholds Have Increased. On January 26, 2023, the Federal Trade Commission (FTC) announced its revised annual threshold that determines whether companies may be required to notify federal antitrust authorities about a proposed merger or acquisition due to the size and value of the transaction. The Hart-Scott-Rodino (HSR) Antitrust Improvements Act (Section 7A of the Clayton Act) requires parties to certain mergers and acquisitions to notify the FTC and U.S ...
Expanding its ability to detect and pursue security incidents, the Federal Trade Commission (FTC) finalized an amendment to the Safeguards Rule[1] on October 27, 2023 requiring non-banking financial institutions to report certain data breaches. By extending this data privacy protection to customers of all financial institutions, this amendment demands fintech firms across the country revisit their cybersecurity and incident-response policies. I ...
For several years, pursuant to the Food Drug and Cosmetic Act and Federal Trade Commission Act,[i] the Food and Drug Administration (FDA) and Federal Trade Commission (FTC) have issued joint warning letters to CBD companies alleging labeling claims they made are false or misleading. According to the agencies, the claims being made by these CBD companies include assertions that their CBD products will treat or cure serious health conditions ...
Classification as a security is an omnipresent concern for issuers of digital assets. When offering or selling securities in the United States, securities must either be registered or exempt from registration ...
Litigation and Dispute Resolution Group, Kochhar & Co. Delhi Health and safety are everyone’s priority today as COVID-19’s unprecedented impact continues to grow each day. Needless to say, the outbreak of Covid-19 has left its impact on litigation and arbitration in various ways, ranging from an increased use of remote hearings to general court closures, depending on the countries and institutions concerned ...
We are pleased to inform you that Ellen McGinnis and Erin England have co-authored a chapter in a book recently published in connection with the Fund Finance Association’s 2017 Global Fund Finance Symposium. Their chapter in the Global Legal Insights publication is titled “Historical Perspective and Evolution of Investor Issues in Subscription Financing – From Credit Analysis to Enforcement ...
Overview of fund investment advisory businessSecurities and fund investment advisory business is a basic capital markets intermediary service. Securities and fund investment advisory business currently comprises securities investment advisory business, fund investment advisory business, and securities research report issuing business ...
An increasing number of investment managers in Hong Kong are considering the adoption of the open-ended fund company (OFC) structure following announcements by the government of subsidy initiatives to cover 70% of expenses paid to local professional service providers for the establishment of OFCs and the re-domiciliation of funds as OFCs. As a key operator of an OFC, the investment manager should be well informed of its obligations and duties under the OFC regime ...
We are seeing renewed interest in these types of structures – particularly from fund managers who have not previously targeted Shariah investors - as (i) sovereign wealth funds, pension funds and HNW individuals from the Middle East and South East Asia diversify into alternative assets like private equity (PE), and (ii) traditional or "western" managers look to expand into the Shariah market by establishing bespoke feeder or parallel funds in Guernsey which offer a Shariah complian
It is a long held truth that businesses require more growth finance in times of economic recovery. Given the state of the economy on both a national and local level, now is the time to help Midlands based business owners and entrepreneurs. Recent figures from the British Bankers’ Association show that small businesses experienced a reduction in net lending in the first quarter this year, with repayments of existing debt exceeding new lending by £300 million ...
IRS Announcement 2017-15 provides relief to employees who have been adversely affected by the recent wildfires in Northern California by allowing them to take loans or distributions from retirement plans to alleviate hardships caused by the wildfires. The Announcement also provides relief from verification procedures required under retirement plans with respect to loans and hardship distributions ...
As a result of the COVID-19, employers are being forced to reduce the size of their workforces in order to keep costs down for the duration of the pandemic and perhaps beyond. Employers can choose to either furlough employees or lay them off; however, deciding which route is best requires an analysis of the employer’s situation, as well as the needs of the employees ...
On December 1, 2015, several amendments to the Federal Rules of Civil Procedure took effect. While some changes are rather minor, others are expected to have a significant impact on litigation in federal court. Lawyers have been talking about these amendments for years as they were developed, proposed, revised, and eventually approved, but comparatively little has been said about what the parties to litigation need to know. Three key takeaways are discussed below ...
In the latest in a series of amendments to Federal Law No. 11 of 1992 (the UAE Civil Procedure Law) the recently issued Cabinet Resolution No. 33 of 2020 (the Resolution) brings about some important changes to how matters will be litigated in the UAE courts. The Resolution amends certain provisions of the regulations to the UAE Civil Procedure Code introduced by Cabinet Resolution No ...
In a recent update to the suite of Homes England standard shared ownership leases, England’s Regulator of Social Housing sought to align rent reviews with social and affordable rent tenures. In the process, it may have created more work for sector participants ...
