On October 11 of this year, the Chamber of Deputies approved in the third constitutional procedure the amendments proposed by the Senate to the bill that strengthens the financial system and its infrastructure (the "Bill"). These improvements relate to five general issues, which we examine below: Repurchase agreements market (REPOs) The REPO market in Chile has not had the expected development due to uncertainties in the applicable insolvency legislation ...
The UAE recently enacted Federal Decree Law 15 of 2023 (theAmendment) making certain changes to the provisions of the law governing arbitration, Federal Law 6 of 2018 (theArbitration Law). These changes are consistent with the UAE’s forward-looking approach to arbitration. Some of the key amendments are highlighted below ...
For a long time, socialising at work was synonymous with drinking alcohol, but in recent times we have seen this trend start to shift. This is positive news for employers who risk social events centred around alcohol inadvertently isolating those to choose not to drink. With minimal alternatives available in the past, some employees have felt a certain pressure to drink at events to ‘keep up’ with colleagues ...
Last week was filled with noteworthy developments in the cryptocurrency industry, Rachel Wolcott of Thomson Reuters Regulatory Intelligence has spotlighted two important articles. The first article focuses on Binance's compliance with the UK Financial Conduct Authority's (FCA) new financial promotion rules, while the second delves into HTX (formerly known as Huobi) and its status on the Seychelles corporate register of crypto exchanges. Let's take a closer look at these significant events ...
After a public consultation process, on October 11, 2023, the Financial Market Commission ("FMC") issued the new General Rule No. 498 (“NCG 498”), that regulates the complementary activities that may be developed by bank or non-bank payment card operators ("Operators”) ...
Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in sanctions, specifically, those sanctions being imposed against Russia ...
On the 1st of September 2023, Legal Notice 208 of 2023 was published in the Supplement to the Government Gazette by the title of the Financial Collateral Arrangements (Amendment) Regulations (hereinafter referred to as the “Amendment Regulations”) ...
Introduction In 2023, where do we stand in terms of liability where smart products are concerned? The rules governing product liability set out in the Civil Code of Québec were introduced early in the 20th century in response to the industrial revolution and the growing number of workplace accidents attributable to tool failures ...
On June 22, 2023, the federal government significantly expanded the reporting requirements for certain so-called avoidance transactions, in particular with respect to termination agreements.1 The new rules will make it easier for the Canada Revenue Agency (CRA) to detect certain avoidance schemes, conduct tax audits and issue notices of assessment and penalties more quickly when warranted ...
In the case 44/2023/ISB delivered on 6th October 2023, the applicant, a majority shareholder in a company requested the Civil Court (Commercial Section) to fix a date for an extraordinary general meeting of the company under Art 132(1) of the Companies Act in an attempt to remove two directors from the Board of Directors without adequately proposing replacements ...
The new commercial transactions law (Federal Decree Law 50/2022), which abrogated Federal Law 18/1993, has significantly reduced the period of limitation for initiating action relating to commercial transactions between ‘merchants’ from ten years to five years. Application of the new commercial transactions law The new commercial transactions law applies to merchants and all forms of commercial activities ...
If you have been doing business with entities in the European Union, chances are that you have struggled to figure out how to transfer data from the EU to the US without running afoul of the General Data Protection Regulation (GDPR). You are not alone. The EU and US have struggled to create “adequate” safeguards for the transfer of personal data since 2000. The first set of guidelines, the Safe Harbor Privacy Principles, was adopted in 2000 ...
On 25 September 2023, in conjunction with the Prudential Regulation Authority, the Financial Conduct Authority published a consultation paper on diversity and inclusion in the financial sector. The proposals include measures to ‘support healthy work cultures, reduce groupthink and unlock talent’, in order to support the competitiveness of the UK’s financial services sector ...
The Department of Justice (DOJ) hopes to incentivize timely disclosure of misconduct uncovered during the M&A process with the announcement of a Department-wide Safe Harbor policy on October 4, 2023. The policy, which applies across the entire DOJ, shields companies from criminal prosecution for misconduct they discover in companies they are acquiring or have recently acquired ...
Mamo TCV Advocates will once again be participating in MACE, the Malta Aviation Conference & Expo, taking place between the 11th and 12th of October, 2023 at the Hilton, Malta. Dr Nicholas Valenzia, Partner heading the Aviation & Shipping Practice Areas of the firm, Dr Joshua Chircop, Senior Associate, and Dr Aleandro Mifsud, Associate, will be attending the conference ...
As we navigate a rapidly changing digital landscape, upskilling our people continues to be a priority. In response, the innovators at MinterEllison developed Mintcoin, an internal crypto currency designed to reward participation in the firm’s Digital Academy program and innovation initiatives. We’re thrilled to announce that this initiative has secured MinterEllison a spot on the AFRs Most Innovative Companies list for 2023 ...
A year after auto-enrolment's 10th birthday the government gives the green light to changes which have the potential to extend to workplace pension savings initiative to more workers than ever before ...
Contents Cayman Islands wills Cayman Islands estate administration process Trusts as an alternative Advance healthcare directives Conclusion Cayman Islands wills A will directs how a person's (also known in this context as a “testator”) assets are to be dealt with on their death. and empowers the person’s chosen executors to administer their estate after their death so as to give effect to those wishes ...
Trusts are used as a structuring mechanism in a range of legal contexts including wealth and succession planning, pensions, philanthropy, investment funds and various other commercial settings ...
On 30 August 2023, the Beneficial Ownership Transparency Bill, 2023 (the Bill) was published, proposing several important changes to the beneficial ownership regime in the Cayman Islands. The Bill is intended to enhance the jurisdiction’s current beneficial ownership regime to ensure compliance with the recommendations of the Financial Action Task Force ...
