As we gear up for the UK Covid-19 Inquiry’s first full public hearing on 13 June, here is a reminder of what has been covered to date, followed by a list of issues to be covered within the scope of the first (Module 1) investigation. Inquiry to date the Inquiry was formally established by the Chair (Baroness Heather Hallett) on 28 June 2022, at which time the final Terms of Reference were published by the Government (UK COVID-19 Inquiry: terms of reference - GOV.UK (www.gov ...
Open Finance is becoming a pivotal element in the evolution of the European Union’s regulatory framework for payment services, most notably embodied in the anticipated Third Payment Services Directive (“PSD3”) ...
We recently reported1 on the Government Accountability Office's (GAO) decision in AttainX ...
The hemp industry's explosive growth following the 2018 Farm Bill has produced a number of consequences, some intended and many more almost certainly never considered by lawmakers. The development of THC acetate ester (THCO), a synthetic substance created from hemp, almost certainly falls within the latter category. Recently, THCO has gained substantial popularity. In a Feb ...
By: Christopher M. Mason "Amongst the flurry of other recent executive orders and administrative directives during his first 30 days in office, President Joseph R. Biden signed an executive order seeking to eliminate gender identity and sexual orientation discrimination, and various overlapping forms of discrimination on the basis of multiple protected classes, in federal government departments and agencies ...
Overview The Law on Trusts promulgated on 2 January 2019 provides the legal framework for the creation, registration and inspection of trusts in Cambodia. To facilitate the implementation of the Trust Law, the Trust Regulator on 3 November 2022 issued Prakas 051 on the Formalities and Procedure for Inspection of Trusts (“Prakas 051”). Prakas 051 applies to the inspection of activities and operations related to the trust sector in Cambodia ...
In the last few months, the UAE authorities have introduced a number of measures intended to increase the number of UAE nationals who are employed in the private sector. The Emirati Cadres Competitiveness Council (Nafis) program, originally established in 2016 with the aim of attracting UAE nationals to the private sector, has been reinvigorated ...
On May 9th, 2023, Law No.21,565 of the Ministry of Women and Gender Equity was published in the Official Gazette, which establishes a regime of protection and integral reparation for victims of femicide and femicide suicide and their families. The objective of this law is the creation and strengthening of effective and necessary actions by the State for the attention and integral reparation of the damage of the victims of femicide and femicide suicide ...
The Directorate of Investment and Company Administration (“DICA”) has issued an undated notice where it has listed the documents that all DICA registered companies are required to submit to DICA to obtain its approval to repatriate foreign currencies out of Myanmar (the “Notice”). We understand from the Notice that it applies only to DICA registered companies ...
Why is ESG of importance to charities when they already make such a positive difference to society? Because there is still much to be done about how charities undertake their valuable work, and many do not yet communicate to stakeholders all the things they do well, in a systematic and measurable way. And because two thirds of millennials consider the social and environmental commitments of an organisation when deciding where to work ...
SyCipLaw's Banking, Finance & Securities Department's Banking Bulletin for April 2023 features the latest issuances from theBangko Sentral ng Pilipinas(BSP or Central Bank of the Philippines), which includes the amendment of the miscellaneous rules on deposits and the issuance of rules on mediation and adjudication of financial consumer complaints: BSP Amends Miscellaneous Rules On Deposits On December 14, 2022, the BSP issued Circular No ...
The IDP is valid for 10 years (unless extended) and the States are required by law to keep it under review. The DPA was about to embark on a review in 2020 but this was put on hold due to the COVID-19 pandemic. Last year, the States approved an action to carry out a targeted review of the IDP between 2023 and 2025. The review The review commenced on 25 January 2023, and it focuses on amending certain policies to meet government priorities ...
The Digital Markets, Competition and Consumers Bill's granting of power to the Competition and Markets Authority to impose financial penalties has grabbed the headlines. The Government’s press release published alongside the Bill boasts that the CMA will be able to fine businesses up to 10% of their global turnover for mistreating customers ...
The recent sanction judgment gives important guidance on the way in which the court's discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own ...
On May 15, 2023, the Chilean Congress approved the Bill that systematizes Economic Crimes and Attempts against the Environment (the "Bill"). Thus, the Bill was sent to the President of the Republic for its enactment into law, subject to the preventive control to be carried out by the Constitutional Court ...
The government of Vietnam issued Decree No. 19/2023/ND-CP dated 28 April 2023 (“Decree 19”) to provide guidance for the Law on Anti-Money Laundering. Decree 19, effective as of its issuance date, includes the following: Details on Know Your Client (“KYC”) Decree 19 sets out the specific situations in which financial institutions must carry out KYC procedures ...
The South African banking and finance landscape is continually evolving, driven by changing regulations as well as emerging trends. Recent amendments to the Financial Intelligence Centre Act, 2001 (“FICA”) have brought about new obligations that trustees operating within the sector must be aware of ...
The Financial Market Commission ("FMC") has announced a process of consulting roundtables for the implementation of Law No. 21.521, known as the "Fintech Law" (Fintech in Spanish). Last May 15, an informative webinar was held where the CMF informed about the general guidelines for the operation of the consulting roundtables that will address aspects of the implementation of the Fintech Law. The FMC authority to carry out this process comes from Article 20 of Law No ...
In its recent judgement in Re Avanti Communications Ltd [2023] EWHC 940 (Ch) ('Avanti') the High Court decided that in some circumstances a charge can take effect as a fixed charge despite the chargor having some flexibility to dispose of assets without the consent of the charge holder. Background A charge expressed to be a fixed charge may be at risk of being re-characterised by a court as a floating charge if the charge holder fails to exercise sufficient control over the assets ...
As highlighted in our previous article, the Infected Blood Inquiry’s first interim report established considerable liabilities in relatively short order, recommending that £100,000 be paid “without delay” to victims and partners bereaved by infections transmitted by blood transfusions and blood products. Sir Brian Langstaff, former High Court judge and current Chair of the Infected Blood Inquiry, released his second interim report on 5 April 2023 ...
Although NFTs have existed for a number of years, and have changed the world of merchandise and art, it is worth considering how intellectual property (IP) rights interplay with this asset class. This article considers NFTs in their component parts with a view to understanding how IP law, and specifically the areas of copyright and trade marks, apply. What is an NFT? An NFT stands for non-fungible token and is a digital asset with a unique digital identifier, recorded on a blockchain ...
The government is pushing ahead with the establishment of a Responsible Actors Scheme (RAS) provided for under s.126 and 129 of the Building Safety Act 2022. The Scheme is initially aimed at major housebuilders and other large developers that have developed or refurbished multiple residential buildings that are known to have life-critical fire safety defects ...
By imposing the obligations, the regulation aims to end unfair practices and conduct which is harmful to competition and end users by the companies acting as gatekeepers in the online platform economy. Under the DMA, a firm will be considered as a designated gatekeeper if three criteria are met. First, the company must have a significant impact on the European market which is determined by the company’s turnover ...
