There are currently over 4000 (four thousand) cryptocurrencies in circulation and about 51,200,000 (fifty-one million, two hundred thousand) active traders of cryptocurrency around the world. With the proliferation of cryptocurrency and the associated technology that backs it, innovators have begun to take advantage of the multifunctional nature of cryptocurrency and have created products that could change or disrupt traditional banking and finance ...
In recent times, the financial market has been abuss with discussions about the potential benefits of real estate tokenisation. Several initiatives worldwide, such as Propchain in Dubai, Vave and Equisafe in France, Propellr, Inveniam Capital Partners, and Fluidity in the United States, as well as Elevated Returns in the United States and Thailand, have taken the bold step of launching tokenised real estate projects ...
November 17, 2023 By: Michael Flynn In an effort to promote “open banking” and reduce “sticky banking”, make it easier for consumers to compare their current financial institution to competitors, and to generally increase competition among financial institutions, on October 19, 2023, the CFPB proposed a new Personal Financial Data Rights Rule, which, if it becomes final, will likely take effect early in 2024 ...
The Central Bank of Ireland has today issued its feedback statement on Consultation Paper 85 dealing with loan originating qualifying investor alternative investment funds (QIAIFs). In the feedback statement the Central Bank has announced that it will allow for the authorisation of QIAIFs that originate loans from 1 October 2014. The Central Bank's AIF Rulebook is being updated to reflect this change ...
The Centers for Disease Control and Prevention has expanded the definition of close contact to now evaluate exposure cumulatively over a 24-hour period such that “15 cumulative minutes of exposure at a distance of 6 feet or less can be used as an operational definition for contact investigation,”[1] Because the newly expanded definition is not limited, it impacts many different industries (inclu
The current regime Under the current regime in the Cayman Islands, the only option for a company to obtain a moratorium on claims, and to benefit from what is often seen as necessary breathing room to explore a restructuring, is for a winding up petition to be issued against the company and for the company to be placed into provisional liquidation, with provisional liquidators (JPLs) appointed over the company on a light-touch basis with the mandate to explore a restructuring of the company&r
The economic substance requirements in the Cayman Islands, introduced by the International Tax Co-operation (Economic Substance) Act (as revised) (the “ES Act”) (Economic substance requirements in the Cayman Islands), have been extended to partnerships pursuant to the International Tax Co-operation (Economic Substance) (Amendment of Schedule) Regulations 2021, which came into force on 30 June 2021 ...
In an opinion written in under 1,000 words, Florida's Fourth District Court of Appeal put foreclosure cases across Florida in jeopardy in Desbrunes v. U.S. Bank National Association in February ...
On Dec. 16, 2009, U.S. Attorney General Eric Holder announced the terms of a deferred prosecution agreement reached with Credit Suisse AG to address prolonged and systematic violations of federal and state criminal law ...
Last week, President Trump signed two Legislative Acts – the Families First Coronavirus Response Act ("FFCRA") and the Coronavirus Aid, Relief, and Economic Security Act (CARES). Effective April 1, 2020, the FFCRA requires employers with more than 50 but fewer than 500 employees to provide emergency paid sick leave and expanded Family Medical Leave Act ("FMLA") leave to employees ...
The CARES Act provided historic, temporary relief to mortgage holders facing Covid-19-related financial troubles. R. Aaron Chastain, partner at Bradley Arant Boult Cummings LLP, looks at where mortgage lenders and servicers stand as the pandemic continues and federal agencies and state governments continue to adjust compliance requirements and rules ...
By: Jennifer Misetich March 26, 2024 On March 25, 2024, the California Supreme Court issued its decision in Huerta v. CSI Electrical Contractors, which provides certain clarity on nuanced wage and hour issues and the scope of the term “hours worked ...
On October 17, 2022, the California Court of Appeal, Fourth Appellate District, Division 3, issued a decision in Golf & Tennis Pro Shop, Inc. v. Superior Court holding that interrogatory responses containing a combination of unverified factual responses and objections only trigger the 45-day clock to bring a motion to compel when the responding party serves its subsequent verifications ...
Published in CEE Legal Matters “In terms of national politics, when it comes to Latvia, the word of the day is ‘stability,'“ says Raimonds Slaidins, Senior Partner at Ellex Klavins in Riga ...
On July 3, 2023, Ohio’s biennial budget bill[1] was signed into law by Governor Mike DeWine. In addition to major budget provisions, the bill also includes notable changes to Ohio’s Medical Marijuana Control Program (“MMCP”), the state program that regulates and licenses cultivators, processors, testing laboratories, dispensaries and medical marijuana cardholders. Beginning January 1, 2024, the MMCP will be under new management ...
After a rollercoaster of a ride, the Retained EU Law (Revocation and Reform) Bill has received Royal Assent and is now an Act of Parliament. From the initial proposal of an all-singing, all-dancing automatic revocation of thousands of retained EU laws by the end of this year, to a more restrained revocation of just under 600 irrelevant or redundant laws, the Bill will not deliver the big bang that it initially promised ...
In this new podcast series "The Brexit Bonfire", colleagues discuss key elements of the legislation ranging from what it is, how it could impact businesses and key things that businesses should be aware of. In our second episode of this series of podcasts, Michelle Craven-Faulkner and Lucie Green continue their discussion concerning the Brexit Freedoms Bill but this time they consider how the current proposals could impact on commercial contracts across the board ...
The U.S. EPA proposed a new rule under the Clean Water Act reversing the Trump Administration’s rule for water quality certifications under section 401 of the Act. Section 401 provides states and tribes with authority to protect waters within their jurisdiction from pollutant discharges originating from federally-licensed or -permitted projects ...
