Since April 2018, the Minimum Energy Efficiency Standard (MEES) has prohibited landlords from renting commercial properties that do not meet certain environmental standards ...
The King's Speech 2023 unveiled an ambitious vision for the future of transportation - heralding a new era of self-driving vehicles in the UK. The speech introduced a comprehensive plan to integrate autonomous vehicles into daily lives, as part of the government's commitment to advancing transportation technology. The proposed Automated Vehicles Bill will provide the Department for Transport with the necessary authority to certify the safety of driverless vehicles ...
The U.S. Government Accountability Office's recently issued annual bid protest report is noteworthy because it shows that 31% of bid protests were sustained — more than double the rate for prior years— and that protesters received some form of relief from the procuring agency in more than half of the protests filed with the GAO in fiscal year 2023 ...
India Business Law Journal Article Published on November 6, 2023 Our annual ‘State of the Legal Market’ survey finds that AI, specialist firms, discerning clients and the paired trends of fragmentation and consolidation are preoccupying the legal community. Katherine Abraham reports Big changes are afoot in the Indian legal landscape with the arrival of foreign firms and the integration of artificial intelligence (AI) technology ...
A recent data protection fine highlights the risks of getting a few key things wrong. Fines for large data security breaches always grab press attention, however a recent €600,000 fine from the French data protection regulator (the CNIL) brings into sharp focus the risks for businesses when they get a few key things wrong without any catastrophic failures amongst them ...
Our present time is in constant evolution and Artificial Intelligence (AI) has demonstrated its ability to revolutionize entire industries and improve our quality of life in many aspects. In our global interconnectedness, it is a reality that organizations are already working on implementing AI for various purposes, including improving processes and the way they do business ...
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The BVI has established itself as a leading offshore finance centre that is resilient, agile and innovative in the
Contents Government attitude and definition Cryptocurrency regulation Sales regulation Taxation Money transmission laws and anti-money laundering requirements Promotion and testing Ownership and licensing requirements Mining Border restrictions and declaration Reporting requirements Estate planning and testamentary succession Government attitude and definition The Cayman Islands is a leading global financial centre and has developed a reputation as one of the world’s most
Contents Please click on the links below to jump to the relevant section: Government attitude and definition Cryptocurrency regulation Digital Asset Business Act Scope of the DABA Licensing requirement Application process Criteria to be met by licensees Continuing obligations of licence holders BMA’s supervision and enforcement powers Digital Asset Issuance Act Scope of DAIA Authorisation requirements Authorisation criteria Ongoing obligations BMA’s supervis
Following the route set out in the ongoing constitutional process and taking into consideration the draft prepared by the Expert Commission and the amendments presented during the respective discussion in the Joint Commission, the Constitutional Council approved yesterday, the Preliminary Draft of the New Constitution ...
Historically, the jurisdictions of choice for this US$1.2 trillion market have been the Cayman Islands and Ireland ...
Although this is a developing area, many billions of assets under management have already been tokenised. High profile managers such as Franklin Templeton, Abrdn, KKR, Mitsui and Hamilton Lane have already launched tokenised products. Tokenised assets nonetheless still represent a tiny percentage of the funds industry. We expect this area to grow exponentially in the coming years. What is tokenisation? Tokenisation is the digital representation of 'traditional' financial assets (e.g ...
At Halloween, we look at whether data protection laws protect doorstep trick-or-treaters and how technologies such as CCTV and smart doorbells can be used lawfully under data protection law. Along with the ghosts and goblins, bands of happy revellers may be preparing to roam the streets this Halloween to get their seasonal sweet fix armed with nothing more than a pumpkin lantern and hopeful smile ...
At the end of last week, the FT published a guest article on quantum computing. For those unfamiliar with quantum computing, it is the technology that will be capable of harnessing the powers of quantum mechanics to solve problems which are too complex for ‘classical’ computers (the computers of today). Classical computing employs streams of electrical impulses to encode information: an electrical impulse may be only 1 or 0 (i.e. on or off) – a classical 'bit’ ...
In the second instalment of The Fintech Times' ‘Where to Relocate’ series, we turn the spotlight to the Cayman Islands as a VASP-friendly jurisdiction. Situated in the Caribbean, the Cayman Islands offer a unique blend of regulatory excellence, technological innovation, and a commitment to fostering the growth of digital assets ...
Only five months after its first reading on 17 May 2023, the future is already in doubt for key aspects of the Renters (Reform) Bill. The changes proposed by the Bill include the abolition of ‘no fault’ evictions under section 21 of the Housing Act 1988, meaning that landlords would be required to rely on the more combative section 8 process ...
The Product Security and Telecommunications Infrastructure Act 2022 (PSTIA) received Royal Assent on December 6, 2022. The PSTIA makes various changes to the Electronic Communications Code (the Code) – however, its intended effects are only being felt piecemeal, as its provisions are being slowly brought into force through secondary legislation. Ss ...
Clearview AI has escaped punishment in the UK for its global facial recognition database. The reasons why are crucial and will potentially affect the future of privacy for everyone in the UK. Alongside Cambridge Analytica, Clearview AI has emerged as probably the best-known maverick of data analytics based on recent reports. It has been fined by data protection regulators around the world, including in the UK, for developing what regulators consider unlawful facial recognition technology ...
Earlier in the year, we reported on the government’s announcement of increases to visa and nationality fees. These increases to application fees came into force on 4 October 2023, other than the substantial increase to the Immigration Health Surcharge (IHS) which was expected to come ‘later in the autumn’ ...
Corporate status A foundation company is a body corporate with a legal personality distinct from its members, directors and other connected persons. As foundation companies are governed by the Companies Act (Revised), except where it is inconsistent with the Foundation Company Act (2017), they benefit from an extensive body of case law and are well recognised in other jurisdictions ...
SyCipLaw's Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for August. The August 2023 issue covers the following tax issues: 1. May the ruling in the 2011 case of Commissioner of Internal Revenue v ...
