On 30 January 2020, the World Health Organisation (WHO) declared the outbreak of the new coronavirus, (subsequently renamed as COVID-19), “a public health emergency of international concern”. Various unprecedented and draconian measures were imposed by the PRC Government and other governments around the world, namely, a city lockdown, travel restrictions and bans, extension of the Lunar New Year holidays, mandatory quarantine orders, border closures, etc ...
The Hong Kong Monetary Authority (“HKMA”) released a technical whitepaper on CBDC on 4th October 2021 “e-HKD: A technical perspective” (“Whitepaper”). The HKMA announced its “Fintech 2025” strategy in June this year, one part of which is to strengthen research work into CBDC with a view to future-proofing Hong Kong in terms of CBDC readiness ...
On 5 July 2021, the Hong Kong Securities and Futures Commission (SFC) issued a press release which announced that it has reprimanded and fined Mr Raymond Leung Tak Shing (Leung) HK$400,000 for failing to discharge his duties in relation to AML requirements as a member of a licensed firm’s senior management team ...
On 24 June 2020, the Securities and Futures Commission (SFC) published its latest Annual Report, covering the 12-month period to 31 March 2020. As in previous years, the report provides a useful summary of what the SFC has done over the past year particularly in terms of achieving its publicly stated goals and providing insight into its priorities moving forward ...
OSHA has released its long-awaited emergency rule requiring the COVID-19 vaccine or weekly testing for many employers. With compliance deadlines coming up, Bradley is here to help employers navigate this new rule to stay in compliance. While we monitor the outcome of judicial review of OSHA’s ETS, we suggest taking the following steps to prepare your workplace for compliance with the new vaccine or test mandate: Develop a policy. Educate employees ...
This past December 12, the Mexican congress finally approved a constitutional energy reform (the “Energy Reform”). As of today, the required majority of state congresses have also ratified it. What now remains is a declaration from the Permanent Commission of the Mexican congress, which is expected shortly ...
On March 27, 2020, President Donald Trump signed into law the third major coronavirus-related legislation in the last several weeks – the Coronavirus Aid, Relief, and Economic Security (CARES) Act – in response to the pandemic and resulting economic crisis. The CARES Act includes substantial federal spending and loan commitments that will benefit individuals and businesses. But that is not all ...
The United Arab Emirates (UAE), a sought-after destination by foreign businesses for establishing their regional offices, consists of multiple jurisdictions for incorporation/establishment of entities. Each Emirate of the UAE has its own licensing authority and, additionally, there are more than 40 free zones in the UAE. Each Emirate and each free zone can be regarded as a separate jurisdiction for the incorporation and establishment of entities ...
Although a federal court recently ruled that the United States Federal Trade Commission (the “FTC”) has the authority to regulate data security practices, a clinical testing laboratory is arguing that the FTC’s regulatory authority does not extend to entities covered by the Health Insurance Portability and Accountability Act (“HIPAA”) ...
October 6, 2021 By: Jennifer Guerrero While a remote work environment can provide many benefits to all of the parties involved, it also can present significant challenges for organizations that need to remain Healthcare Insurance Portability and Accountability Act (HIPAA) and Health Information Technology for Economic and Clinical Health Act (HITECH) compliant ...
China began legislating the protection of human genetic resources in 1998, at which time the Ministry of Science and Technology (MOST) and the Ministry of Health jointly formulated the Interim Measures for Administration of Human Genetic Resources; however, there had been no corresponding implementing rules to implement it in practice ...
On May 9, 2022, National Medical Products Administration (NMPA) issued for public comments a draft revision (the “Draft Revision”) to the Regulations for the Implementation of the Drug Administration Law of the People’s Republic of China (the “Regulations”). The public comment period ends on June 6, 2022. The Regulations were last revised and became effective in March 2019 ...
HIGHLIGHTS OF UNION BUDGET 2022-2023 Key Indirect Tax Proposals Special Economic Zones Act to be replaced Special Economic Zones Act is set to be replaced with a new legislation, under which Customs administration would be IT driven, and a Customs National Portal would be set up for this purpose. This is being done to encourage paperless processing and ease of doing business ...
HIGHLIGHTS OF UNION BUDGET 2022-2023 Key Direct Tax Proposals Personal Taxation Tax rates, TDS rates, Standard deduction and relief for savings etc. remain unchanged. Rates of surcharge have been rationalized in case of Long - term capital gain other than listed shares, and for Cooperative societies. Medical relief provided by employers or any other person in relation to COVID-19 will be exempt from F.Y. 2019-20 onwards ...
The article was first published in Invest Romania, November 2006 issue.The Bill for amending Company Law no. 31/1990 as subsequently modified,supplemented and republished (the “Company Law Bill”) was approved by the Senate on 30August 2006 and is currently at the Chamber of Deputies commissions undergoing a fast-trackapproval process ...
Dear Ladies and Gentlemen, In 2020, Articles 248.1 and 248.2 of the Russian Arbitrazh (State Commercial) Procedure Code (“APC RF”) took effect to provide additional judicial protection for Russians due to foreign sanctions (restrictive measures). We have addressed these ****new statutes****, ****their initial application by Russian courts****, as well as the precedent-setting Russian Supreme Court ruling in the ****Uraltransmash v. PESA**** case in our previous newsletters ...
Last week, the House Republicans unveiled their highly anticipated plan for tax reform. Although clients should not rush into planning based on the House plan, it is important to be aware of potential changes in the tax code. In particular, business owners and individual high net worth clients should be prepared for the adverse and beneficial aspects of the proposed plan because the plan is intended to be effective for tax years beginning January 1, 2018 ...
On November 22, 2022, the State Administration for Market Regulation ("SAMR") issued for public comments a draft revision to the Anti-Unfair Competition Law of the People's Republic of China (the "Draft Revision", the "AUCL"), which reflects the government's ongoing efforts against unregulated unfair competition activities emerging in tandem with fast-evolving market forces that continue to give rise to new business forms and models ...
On October 23, 2021, a second draft amendment to the Anti-Monopoly Law of the People’s Republic of China (the “Draft Amendment”) was issued for public comments following its review at the 31st meeting of Standing Committee of the 13th National People’s Congress (the “NPC”, the Chinese legislature). The public comment period ends on November 11, 2021 ...
On April 7, 2022, the State Council announced its Decision on Amending and Annulling Certain Administrative Regulations (State Council Decree No. 752; the “Decision”), which will take effect on May 1, 2022 ...
On 25 May 2010, the Government issued a new List of Business Activities which are Closed and Business Activities which are Open for Investment with certain Requirements (the Negative List), which became effective as of the same date.The new Negative List revokes and replaces the Negative List of 2007, and also introduces some new concepts ...
The refinancing policies for listed companies on the Shanghai and Shenzhen Stock Exchanges will be revised as a part of the full implementation of the registration-based stock issuance system reform, in addition to the reform of the IPO-related rules ...
On April 1, 2020, the U.S. Department of Labor (“DOL”) issued a temporary rule regarding the implementation of the emergency paid sick leave and Expanded Family and Medical Leave (“EFMLA”) requirements established by the recently enacted Families First Coronavirus Response Act (“FFCRA”). The DOL temporary rule covers significant ground in terms of delineating workers’ and employers’ rights and responsibilities under the FFCRA ...
European Commission imposes fines of €302m on participants What does this mean for you? The decision The European Commission has imposed fines totalling just over €300 million on the participants in a cartel involving the supply of underground and submarine high voltage power cables for important high voltage power cable projects in the EEA (including large infrastructure and renewable energy projects such as offshore wind farms) ...
