Member Articles

  In a fascinating court case involving perhaps the best known players in the crytocurrency sector, old legal principles were used to try to solve a new problem. The claim relates to very substantial digital currency assets that Tulip Trading Limited (TTL) claimed it owned but is currently unable to control or use. Following what it says was a hack of computers at the home office of Dr Craig Wright, its primary owner, the company allegedly lost access to more than 111,000 bitcoins ...

On Nov. 30, 2020 the North American Securities Administrators Association (NASAA) announced that its membership voted to adopt a model rule to set parameters by which NASAA members could implement continuing education programs for investment adviser representatives (IARs) in their jurisdictions. Following is a summary of the provisions of the model rule ...

Introduction On 7 April 2022, the Department of Finance (DOF) issued Revenue Regulation (RR) No. 3-2022 to implement Republic Act (RA) No. 11635. RA No. 11635 provides for income tax on proprietary educational institutions and hospitals, which are non-profit organisations. RR No ...

  Angolan Central Bank (Banco Nacional de Angola, “BNA”) recently published Notice 10/22 of 6 April to update the scope of application of Notice 10/20 of 3 April on the granting credit to the real sector of the economy. The new Notice establishes (i) the terms and conditions applicable to the this type of credit, (ii) the minimum requirements in terms of number and total value and (iii) the treatment in the calculation of the reserve requirements ...

SmartAir, a social enterprise that educates the public about air pollution, has been shortlisted for the “Powered by Pro Bono Award” at this year’s TrustLaw Awards. This award highlights NGOs or social enterprises that have used pro bono legal advice to scale up their operations, improve the delivery of their social mission or pivot their activities to make a greater impact on the businesses and people they support ...

The Digital Commodity Exchange Act of 2022(DCEA), introduced by Republican representatives Glenn Thompson of Pennsylvania and Tom Emmer of Minnesota, along with Democratic representatives Darren Soto of Florida and Ro Khanna of California, would create a definition for “digital commodity” and allow the Commodity Futures Trading Commission (CFTC) to oversee companies issuing or letting people trade certain tokens, while having the Securities and Exchange Commission (SEC

The Securities and Exchange Commission (SEC) announced on May 3, 2022 the near doubling of the unit responsible for protecting investors in crypto markets and from cyber-related threats by allocating 20 additional positions to that team. The rebranded Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) (CACU), which is part of the Division of Enforcement, will now number 50 full-time professionals. “The U.S ...

The Financial Market Commission ("CMF") published on April 13, 2022, in effect as of July 12, 2022, the General Rule No. 472 that regulates the investment advisory services in Chile, specifically the requirements and procedures for registration, cancellation and suspension in the Registry of Investment Advisors (the "Registry") and the obligations to which such advisors will be subject to, including the requirements regarding the disclosure of information (“NCG 472”) ...

Last September, the AMF published its draft Regulation respecting complaint processing and dispute resolution in the financial sector (the ?Draft Regulation?). The consultation period for it ended on December 8, 2021. The AMF is currently reviewing the many comments it received. The Draft Regulation1 aims to harmonize and improve complaint processing in the financial sector by providing for new mechanisms to ensure prompt and efficient complaint processing, among other things ...