A decision of the Court of Justice of the European Union (CJEU) in 2011 appeared to limit the options for large television companies seeking to prevent unlicensed viewing. It was held in that case, involving the Football Association Premier League Ltd, that the use of foreign decoders to broadcast Sky television in public places could not be prevented because of EU competition rules ...
As a British Overseas Territory with no direct taxes, the Turks and Caicos Islands (TCI) has been an attractive domicile for trust establishment by high-net-worth individuals and their advisers for many years. However, in the recent past, with the Government’s focus firmly on developing TCI’s enormously successful luxury tourism industry, the updating of TCI’s non-regulatory legislation in the field of financial services had been a little neglected ...
Deciding what happens to employees in a TUPE transfer where there is more than one transferee is never straightforward. However, developments in this area continue to add complexity to the situation, adding cost and uncertainty to employers. Recent developments In the recent case of McTear Contracts Ltd v Bennett & ors the EAT looked at a situation where there were two transferees in the context of a service provision change ...
Australia's Federal Court finds in favour of Nine newspapers against Ben Roberts-Smith. The judgement is a win for investigative journalism and the public’s right to know. Defence was lead by Peter Bartlett, MinterEllison. Nine newspapers’ victory in the Ben Roberts Smith vs Nine defamation case strengthens a core principle of journalism, and key tenant of democracy, which is the public’s right to know ...
In fact, the impact of the pandemic on private clients has been the opposite: many have experienced increases in their personal wealth that have been nothing short of startling. According to the Global Wealth Report published by Credit Suisse in June 2021, more than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic ...
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 ...
Definitions: "LCF Law" means The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022. "Notice" means the Guernsey Financial Services Commission's Notice with respect to the disapplication of the requirement to hold a licence under section 40 of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 ...
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In perhaps the last major legislative action under this presidential administration, on New Year’s Day 2021, Congress passed—over President Trump’s veto—what could be the most significant anti-money laundering (AML) statute since the Patriot Act of 2001, as part of the annual National Defense Appropriations Act (NDAA) ...
On March 30, 2020, the Department of the Treasury published guidelines and procedures for passenger and cargo air carriers (together, “Air Carriers”) seeking relief under the recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act ...
On January 17, 2013, the Treasury Department ("Treasury") and the Internal Revenue Service ("IRS") issued final regulations with respect to the Foreign Account Tax Compliance Act ("FATCA"). The legislation applies to payments to foreign financial institutions ("FFIs") and nonfinancial foreign entities ("NFFEs"). In general, FATCA requires certain persons making payments to FFIs and NFFEs to withhold 30 percent of any payment (a "Withholdable Payment") consisting of either (1) U.S ...
On April 2, 2020, the U.S. Department of the Treasury issued afinal borrower applicationand provided lenders with therequired datathe federal government will collect electronically to guarantee the loans. The lender application form requires the lender to certify they have gathered the requisite information from the applicant, as outlined in the updated borrower application form ...
On January 6, 2022, the U.S. Department of the Treasury issued a final rule on the use of Coronavirus State & Local Fiscal Recovery Funds (SLFRF) provided to state, local, and tribal governments pursuant to the American Rescue Plan (ARP). While the final rule largely includes the eligible uses of SLFRF funds described in the interim rule issued in May of 2021, the Treasury expanded and provided more detail on eligible uses ...
On January 6, 2022, the U.S. Department of the Treasury issued a final rule on the use of Coronavirus State & Local Fiscal Recovery Funds (SLFRF) provided to state, local, and tribal governments pursuant to the American Rescue Plan (ARP). While the final rule largely includes the eligible uses of SLFRF funds described in the interim rule issued in May of 2021, the Treasury expanded and provided more detail on eligible uses ...
On March 31, 2020, the Treasury Department and Small Business Administration (“SBA”) released initial guidance and a sample application form for the Paycheck Protection Program (“PPP”), the small business loan program established pursuant to theCoronavirus Aid, Relief, and Economic Security (“CARES”) Act signed by President Trump on March 27, 2020 ...
On May 13, 2020, the Department of the Treasury and the Internal Revenue Service (“IRS”) issued final regulations under Section 385 of the Internal Revenue Code (“Code”), T.D. 9897 (“Final Regulations”), which address the classification of certain related party debt as stock or equity for U.S. Federal income tax purposes ...
On April 9, 2020, the Board of Governors of the Federal Reserve System (the “Board”) announced the establishment of the Main Street Business Lending Program (“Main Street Loan Program”), an up to $600 billion lending program for mid-size businesses ...
[!<CDATA[ Article III standing is one of the most significant rubrics to determine a federal lawsuit’s justiciability. The Supreme Court significantly altered the standing calculus in TransUnion v. Ramirez, 141 S. Ct. 2190 (2021), particularly in putative class actions that allege bare statutory violations unaccompanied by actual harm ...
The Trans-Pacific Partnership (“TPP”) is a free-trade agreement among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States (the “TPP Members”). While, as reported, an agreement on the TPP was reached on October 5, 2015, each of the TPP Members must still enact the TPP. On November 5, 2015, the full text of the TPP trade agreement was released to the public for the first time ...
The Trans-Pacific Partnership, or TPP is a free-trade agreement among the members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.On Nov. 5, the full text of the TPP trade agreement was released to the public for the first time. While, as reported, an agreement on the TPP was reached Oct. 5, each of the members must still enact it.An important component is the chapter on investments, which protects investors ...
We are very excited to be supporting the UN Global Compact Network UK’s ‘Transitioning to a Net Zero’ webinar series ...
How will the UK become a Net Zero-aligned Financial Centre? Last month, the UK Government announced that the UK was to be the world’s first Net Zero-aligned Financial Centre. The Institute for Government defines “net zero” as “a balance between the amount of greenhouse gas emissions produced and the amount removed from the atmosphere” ...
