Contents Legal and Enforcement Framework Blockchain Market Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? As a matter of policy, Jersey has chosen not to regulate
Contents Legal and Enforcement Framework Blockchain Market Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? The primary regulatory regime to consider in the Cayman
Contents Legal and Enforcement Frameworks Blockchain Market Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? Fintech legislation and guidance notes: The British Virgin Island
Contents Legal and Enforcement Framework Blockchain Markets Cryptocurrencies Smart Contracts Data and Privacy Cybersecurity Intellectual Property Trends and Predictions Tips and Traps Legal and Enforcement Framework What general regulatory regimes and issues should blockchain developers consider when building the governance framework for the operation of blockchain/distributed ledger technology protocols? Bermuda has a digital asset sector specific legal and regulatory re
The European Parliament gave its final approval to the Markets in Crypto-Assets Regulation (‘MiCA’) on 20 April 2023. The regulation forms part of the EU’s broader digital financial package whose aim is to encourage the use of fintech while ensuring consumer protection and financial stability across the EU. MiCA is the first harmonised EU framework for regulating crypto-assets and is applicable across Member States without national transposition ...
The Central Bank of Myanmar (“CBM”) published Directive No. 8/2023 on 24 March 2023 regarding further extension of the amended formula for calculating the liquidity ratio of banks in Myanmar (“Directive”). To look at this historically, the CBM had published several directives between 2020 and 2021 regarding calculation of liquidity ratio and aspects related thereto. We have briefly summarized them as under: In this Directive, CBM notes that pursuant to Directive No ...
The month of March 2023 has brought with it a new legislative Act to amend the Financial Markets Act (Chapter 345 of the Laws of Malta) and to provide for other matters ancillary or consequential thereto in the form of Act No. IX of 2023. This Act was passed by the House of Representatives on the 8th of March and assented to by the President on the 14th of March ...
With the COVID-19 Public Health Emergency (PHE) set to end on May 11, 2023, federal agencies have published FAQs explaining how the end of the PHE will affect previously extended deadlines relating to COBRA, HIPAA special enrollment, and claims and appeals under group health plans. This article provides (i) a recap of the deadlines, (ii) rules of thumb for determining the deadlines, and (iii) tables more specifically addressing some of the most common deadlines that arise ...
This article looks at some of the trends we have seen in the use of interest rate benchmarks in the mid-market since the cessation of LIBOR, with a focus on sterling loans in the UK mid-market. We said a final goodbye to sterling LIBOR over a year ago, and in that time our team has acted on over £2bn worth of facilities. As we look back on the last 12 months’ worth of transactions, some trends are emerging ...
As of 17 April 2023 new creditors winding up petitions can be presented in accordance with the Insolvency (Amendment) Rules (NI) 2023. This means that the restrictions faced by creditors in filing winding up petitions will be lifted, and ultimately more companies will be open to pursual. The introduction of the Insolvency (Amendment) Rules (NI) 2023 on 13th March 2023 was awaited by practitioners, businesses and creditors ...
What is the Retained EU Law (Revocation and Reform) Bill? Many UK consumer laws originate from European law. Following the UK’s departure from the EU, the government wanted to provide legal continuity and certainty and to allow consumers to retain the benefit of such EU derived laws. This was achieved through Retained EU law, a form of domestic law, that was created to preserve the law of the UK following Brexit ...
“I’ve been involved in ESG and sustainability for over 20 years and in the last few years the focus has increased significantly,” says Rich Hall, Head of Sustainability at leading accountancy and professional services firm RSM, on the shift in perception of ESG-related risk within corporate organisations. “Even before the pandemic, we were beginning to see more commentary on ESG issues, mainly centred around the environmental side ...
Shoosmiths has launched ESG 360, a free online compliance audit tool to enable organisations to understand their Environmental, Social and Governance (ESG) performance. ESG 360 users receive a personalised report providing red, amber or green ratings in relation to various elements of ESG compliance performance, alongside commentary and suggestions for improvement. Built around an online questionnaire, ESG 360 allows users to assess their general ESG performance or focus on specific aspects ...
In early March, Georgia's Access to Medical Cannabis Commission finally adopted rules governing the state's low-THC oil industry. As businesses navigate this new landscape, legal questions will inevitably pop up. And lawyers, being trained to answer them, will want to address their clients' questions. But a ruling from the Georgia Supreme Court means that Georgia lawyers generally cannot ethically advise participants in this new program ...
We are pleased to issue our fourth edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to Investment Services and Asset Management, Company Service Providers, Insurance Undertakings, and Insurance Intermediaries ...
On March 31, 2023, Governor Andy Beshear signed Senate Bill 47 making medical marijuana use and sale legal in Kentucky, effective January 1, 2025. [i] Kentucky now joins at least 37 other states that have legalized medical marijuana. The newest piece of legislation comes on the heels of Governor Beshear signing two executive orders related to cannabis in November of 2022 ...
Borrowers who go through the process of obtaining an FHA-insured multifamily loan generally come to the same conclusion: the juice is worth the squeeze. At the end of the day, they get to enjoy a unique blend of benefits (35 or 40-year mortgage term, below market interest rate, etc.) that simply can’t be replicated with a conventional loan. One FHA benefit that’s been getting a lot of attention lately is loan assumption ...
On March 28, the Minister of Labour introduced Bill 19, an Act respecting the regulation of work by children (the ?Bill?), which establishes in particular a minimum working age of 14 and a maximum number of hours of work for children subject to compulsory school attendance. This Bill is presented in the wake of massive and noticeable entry of young workers into the market in the context of shortage of unskilled workers exacerbated by the COVID-19 pandemic ...
Contents Please click on the links below to jump to the relevant section: Overview FAQ 1: Are SPV trustees in scope? FAQ 2: What about SPVs that aren’t trustees? Do you need to have a “customer” or “third party” to be in scope? FAQ 3: I do have “customers” or “third parties” ...
On the 2nd of February 2023, the European Insurance and Occupational Pensions Authority (hereinafter referred to as “EIOPA”) published a Supervisory Statement on the use of governance arrangements in third countries to perform functions or activities (hereinafter referred to as the “Statement”) ...
Americans have increasingly accepted meat and dairy alternatives as staples in their daily diets. For example, recent market research shows that two out of every five U.S. consumers plan to purchase plant-based meat products in 2023. The prevalence of these forms of alternative protein has set the stage for a semantic — and potentially paradigm-shifting — dispute over the very meaning of the terms "meat," "milk" and "dairy ...
Earlier this year, the government announced its support for the passing of the Workers (Predictable Terms and Conditions) Bill. Should it become law, the Bill is set to bring huge change for tens of millions of employees in the UK who do not currently have a statutory right to request a predictable working pattern ...
