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Han Kun Law Offices | March 2023

On March 24, 2023, The Stock Exchange of Hong Kong Limited ("HKEX") published its consultation conclusions ("Consultation Conclusions") regarding the proposed new listing regime for specialist technology companies ...

We previously provided an update regarding the enactment of a capital gains tax (the “Tax”) in the State of Washington (read about it here). In that article, we noted the Tax was subject to at least one lawsuit in Washington. That lawsuit resulted in the trial court striking down the Tax, which caused an appeal to the Washington State Supreme Court (the “Court”) ...

ENSafrica | March 2023

Ensuring the safety and security of funds is a top priority for financial institutions worldwide. To this end, the South African Government has put in place various regulations to guide the operations of financial institutions. We have written several articles on the recent changes to the Financial Intelligence Centre Act, 2001 (“FICA”) and the regulations promulgated under FICA ...

Makarim & Taira S. | March 2023

Following our previous Advisory on Indonesia’s long-awaited Law No. 27 of 2022 on Personal Data Protection (the “PDP Law”) (view the Advisory here), this Advisory focuses on the transfer of personal data from Indonesia to other countries (cross-border transfers). The PDP Law is binding on all parties that process or control personal data in or outside Indonesia with a legal impact in Indonesia or on Indonesian data subjects ...

Makarim & Taira S. | March 2023

The Government of Indonesia moves forward the development of Indonesia’s new capital city, namely Ibu Kota Nusantara (“IKN”) by issuing several underlying regulations to date in effort to encourage the participation of private sector in accelerating the infrastructure development of the IKN. One of them being the groundworks to implement the public-private partnerships in such development ...

Shoosmiths LLP | March 2023

Paul Carney and Craig Thomas explore the impact of the Chancellor's 2023 Spring Budget on the taxation of pensions in the UK. The Chancellor’s budget statement on 15 March caused many to be surprised and some to be perplexed ...

Shoosmiths LLP | March 2023

Beneficiaries of UK, USA or other non-EU state subsidies will have to notify the European Commission under a new regime when engaged in certain mergers & acquisition (M&A) transactions or tendering for certain EU public contracts.This notification obligation commences on 12 October 2023. The transaction cannot be completed or the procurement contract entered into, until consent has been received from the European Commission following notification ...

ENSafrica | March 2023

As businesses continue to operate in an increasingly globalised economy, the transfer of personal data across international borders has become a critical aspect of many operations. However, with the latest legislative changes from the EU, it has become more challenging to transfer data lawfully to third countries. By now, you may have had requests to amend your contracts with international counterparts ...

Carey Olsen | March 2023

Jersey offers a range of fund types and structures to suit the needs of sophisticated sponsors and investors including Jersey Private Funds, Notification Only Funds (also known as Eligible Investor Funds) and Collective Investment Funds (CIFs), such as Jersey Expert Funds and Jersey Listed Funds ...

Han Kun Law Offices | March 2023

With the full implementation of the New Filing Rules, in addition to the requirements for domestic enterprises to file with the CSRC within three (3) business days after the submission of overseas listing application documents, the New Filing Rules also clarify the requirements for the reporting or filing procedures for domestic enterprises after overseas offerings and listings, including the filing requirements for follow-on securities offerings or the development in multiple capital markets of

DFDL | March 2023

“An ounce of prevention is worth a pound of cure.” Benjamin Franklin For tax advisors, CFOs, and finance personnel throughout Cambodia, the last few weeks of March are typically extra stressful due to the 31 March deadline for filing annual Tax on Income (TOI) declarations with the General Department of Taxation (GDT). Cambodia’s tax system operates on the principle of self-assessment, meaning taxpayers declare and pay taxes based on their reading of tax regulations ...

DFDL | March 2023

The Royal Government of Cambodia has issued the Sub-Decree on Requirements and Procedures for Business Combinations dated 6 March 2023 (“Merger Sub-Decree”). The Merger Sub-Decree elaborates on the prohibition on anti-competitive business combinations set out in Article 11 of the Law on Competition. The Merger Sub-Decree was officially implemented on its signature date (of 6 March 2023) and will be enforced within 6 months of that date ...

Han Kun Law Offices | March 2023

On February 1, 2023, the China Securities Regulatory Commission ("CSRC") solicited public opinions on the Measures for Administration of the Registration-based Initial Public Offerings of Stocks (Draft for Comment) (《首次公开发行股票注册管理办法(征求意见稿)》) ...

Han Kun Law Offices | March 2023

For a long time, overseas listing of domestic enterprises has been one of the major ways for investment institutions to exit. The filing-based system for overseas offering and listing adopts a unified regulation pattern over direct overseas listing and indirect overseas listing, optimizes the original examination and approval procedures for direct overseas listing and full circulation, and meanwhile increases the filing requirements for indirect overseas listing ...

On January 19, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here and here. The original deadline for comments on the proposed rule was March 20. On March 6, the FTC announced it is extending the deadline to submit comments to April 19. As of March 9, a total of 16,965 comments (8,848 electronically) have been received on the proposed rule ...

Han Kun Law Offices | March 2023

  China Business Law Journal Published March 9, 2023 With the growing importance of environmental, social and corporate governance (ESG) and the high level of globalisation in capital and supply chains, the scope of ESG regulation is no longer confined to listed companies, the traditional targets ...

Carey | March 2023

On Tuesday, February 21, 2023, Decree Nº318/2022 of the Ministry of Foreign Affairs was published in the Official Gazette, enacting the "Comprehensive and Progressive Agreement for Trans-Pacific Partnership" (CPTPP), which has entered into force as of that date. The treaty seeks to promote the economic integration of the parties, generating a common framework for trade policy, government procurement, intellectual property, electronic commerce, investment, among others ...

Carey | March 2023

On Tuesday, February 21, 2023, Decree Nº318/2022 of the Ministry of Foreign Affairs was published in the Official Gazette, enacting the "Comprehensive and Progressive Agreement for Trans-Pacific Partnership" (CPTPP), which has entered into force as of that date. The treaty seeks to promote the economic integration of the parties, generating a common framework for trade policy, government procurement, intellectual property, electronic commerce, investment, among others ...

Carey | March 2023

18.71 Duty to establish procedures for the enforcement of IP rights The treaty establishes a duty to improve, streamline and simplify procedures aimed at preventing and prosecuting intellectual property infringements. 18.72 Presumptions regarding IP rights A duty is incorporated in order to extend to related rights the presumption of ownership already contemplated in our legislation for intellectual works ...

Carey | March 2023

Chapter 18 of the CPTPP devotes an entire section to copyright and related rights. In this regard, the Treaty regulates the following matters: Recognition of rights of reproduction, communication to the public, distribution and related rights ...

Shoosmiths LLP | March 2023

In this article we follow up on some current issues in the defined contribution (DC) sphere. In its corporate plan for 2022 to 2024, the Pensions Regulator (TPR) reasserted its commitment to defined contribution savers getting the pensions that they are entitled ...

Krogerus | March 2023

The proposal for the temporary Windfall Tax Act for enterprises operating in the electricity and fossil fuel sectors was approved by the Finnish Parliament on 27 February 2023 in an amended form. An overview of the Government's proposal can be found in our previous article on the subject. The Windfall Tax Act will be applied retroactively to the tax assessment of tax year 2023 ...

Han Kun Law Offices | March 2023

On December 30, 2022, the Asset Management Association of China ("AMAC") issued a consultation draft of the Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法 (征求意见稿)》) and the ancillary Guidelines No. 1-3 on private fund manager registration (collectively, the "Draft Rules"). On February 24, 2023, AMAC issued the updated Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法》) (the "Measures") and the ancillary Guidelines No. 1-3 (i.e ...

DFDL | March 2023

“It’s a dangerous business, Frodo, going out your door. You step onto the road, and if you don’t keep your feet, there’s no knowing where you might be swept off to.” — Bilbo Baggins For those embarking on the process of obtaining a Value Added Tax (VAT) refund in Cambodia – it may feel at times like a perilous journey ...

Han Kun Law Offices | February 2023

On February 24, 2023, The Stock Exchange of Hong Kong Limited ("HKEX") published a consultation paper (the "Consultation Paper"), which detailed the proposed amendments to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") following new filing rules for the overseas listing of domestic enterprises announced by the China Securities Regulatory Commission ("CSRC") on February 17, 2023 (the "New Filing Rules") ...

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