Practice Industry: Corporate & Business, Financial Services
Shoosmiths LLP | May 2022

The proposed planning reforms in the Levelling Up and Regeneration Bill are many and varied. However, there are a number of themes that run through the proposals. Ambition The Levelling Up and Regeneration Bill aims to reverse geographical disparities between different parts of the United Kingdom by spreading opportunity more equally ...

When Neil Young wrote that “Southern change gonna come at last,” he wasn’t talking about cannabis— but he might as well have been in light of the recent and extraordinary developments in the cannabis industry in the southern United States ...

The Oregon Legislature adopted a bill in 2021 to ensure planned communities eliminate discriminatory language from their governing documents by the end of this year. House Bill 2534, which amends Oregon Revised Statutes (ORS) chapters 94 and 100, imposes a responsibility on homeowners associations and condominium associations to review their governing documents and remove certain discriminatory language ...

Shoosmiths LLP | May 2022

The Committee of Advertising Practice (CAP) has issued guidance on ads for cryptoassets following an increase in the number of Advertising Standards Authority (ASA) complaints about crypto ads. What are cryptoassets? Cryptoassets are defined by the Financial Conduct Authority (FCA) as: “cryptographically secured digital representations of value or contractual rights that use some type of distributed ledger technology (DLT) and can be transferred, stored or traded electronically ...

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Lavery Lawyers | May 2022

On May 13, 2021, the Quebec government introduced Bill 96 to amend the Charter of the French language (the ?Charter?) to strengthen the provisions regarding the use of French, particularly with respect to the language of commerce and business. This bill has been thoroughly reviewed in parliamentary committee and the committee tabled its report on April 26. In the current political context, it is expected that Bill 96 will be adopted in the coming months ...

  “ESG” is an acronym that is being used with growing frequency across the investment community. ESG stands for environmental, social, and governance criteria, which are increasingly used by socially conscious investors when deciding whether or not to invest in a company. Environmental criteria are effectively a company’s green credentials. Social criteria relate to the people the company works with and the community it serves ...

  In a fascinating court case involving perhaps the best known players in the crytocurrency sector, old legal principles were used to try to solve a new problem. The claim relates to very substantial digital currency assets that Tulip Trading Limited (TTL) claimed it owned but is currently unable to control or use. Following what it says was a hack of computers at the home office of Dr Craig Wright, its primary owner, the company allegedly lost access to more than 111,000 bitcoins ...

On April 26, 2022 the Division of Examinations of the United States Securities & Exchange Commission published a Risk Alert detailing investment adviser deficiencies related to Section 204A of the Advisers Act and Rule 204A-1 under the Advisers Act ...

On Nov. 30, 2020 the North American Securities Administrators Association (NASAA) announced that its membership voted to adopt a model rule to set parameters by which NASAA members could implement continuing education programs for investment adviser representatives (IARs) in their jurisdictions. Following is a summary of the provisions of the model rule ...

Introduction On 7 April 2022, the Department of Finance (DOF) issued Revenue Regulation (RR) No. 3-2022 to implement Republic Act (RA) No. 11635. RA No. 11635 provides for income tax on proprietary educational institutions and hospitals, which are non-profit organisations. RR No ...

PLMJ | May 2022

  Angolan Central Bank (Banco Nacional de Angola, “BNA”) recently published Notice 10/22 of 6 April to update the scope of application of Notice 10/20 of 3 April on the granting credit to the real sector of the economy. The new Notice establishes (i) the terms and conditions applicable to the this type of credit, (ii) the minimum requirements in terms of number and total value and (iii) the treatment in the calculation of the reserve requirements ...

PLMJ | May 2022

 Decree-Law 30-A/2022was published on 18 April to approve the exceptional measures intended to ensure the simplification of the procedures for producing energy from renewable sources. These measures came into force on 19 April and will be in force for a period of 2 years. These exceptional measures have been published by the Government in the current macroeconomic and geopolitical situation ...

Shoosmiths LLP | May 2022

Following the Grenfell Tower disaster, we have seen changes to how cladding is regulated in Scotland. The most recent change comes into force on 1 June 2022 in terms of the Building (Scotland) Amendment Regulations 2022. The Grenfell Tower disaster changed the lives of local residents and their families forever. It also brought the use of cladding and what lies beneath the external aesthetics of a building into sharp focus ...

Carey | May 2022

On March 15th, 2022, the new law of Guarantees and Integral Protection of Children and Adolescents came into force. The law establishes a guarantee and protection statute that makes possible the enjoyment and effective exercise of the rights of children and adolescents with emphasis on the human rights recognized by the Constitution, the Convention on the Rights of the Child and other international treaties ratified by Chile and in local legislation ...

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DFDL | May 2022

On 17 February 2022, the Royal Government of Cambodia issued the Sub-Decree on the Organization and Functioning of the Cambodia Competition Commission (“CCC“) (No. 37 ANKR.BK) (“Sub-Decree“). The Sub-Decree provides the structure and function for the Cambodia Competition Commission, the regulatory authority designated under the Law on Competition ...

Carey | May 2022

On April 21, 2022, a public consultation process on new access requirements and operating rules for the Formal Exchange Market was opened, in the context of the third stage of the modernization of the Central Bank's exchange regulations ...

The Digital Commodity Exchange Act of 2022(DCEA), introduced by Republican representatives Glenn Thompson of Pennsylvania and Tom Emmer of Minnesota, along with Democratic representatives Darren Soto of Florida and Ro Khanna of California, would create a definition for “digital commodity” and allow the Commodity Futures Trading Commission (CFTC) to oversee companies issuing or letting people trade certain tokens, while having the Securities and Exchange Commission (SEC

The Securities and Exchange Commission (SEC) announced on May 3, 2022 the near doubling of the unit responsible for protecting investors in crypto markets and from cyber-related threats by allocating 20 additional positions to that team. The rebranded Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) (CACU), which is part of the Division of Enforcement, will now number 50 full-time professionals. “The U.S ...

Carey | May 2022

The Financial Market Commission ("CMF") published on April 13, 2022, in effect as of July 12, 2022, the General Rule No. 472 that regulates the investment advisory services in Chile, specifically the requirements and procedures for registration, cancellation and suspension in the Registry of Investment Advisors (the "Registry") and the obligations to which such advisors will be subject to, including the requirements regarding the disclosure of information (“NCG 472”) ...

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Lavery Lawyers | May 2022

Last September, the AMF published its draft Regulation respecting complaint processing and dispute resolution in the financial sector (the ?Draft Regulation?). The consultation period for it ended on December 8, 2021. The AMF is currently reviewing the many comments it received. The Draft Regulation1 aims to harmonize and improve complaint processing in the financial sector by providing for new mechanisms to ensure prompt and efficient complaint processing, among other things ...

Governor Inslee’s March 24, 2022 signing of House Bill 1329 marks the introduction of changes to the Open Public Meetings Act (OPMA), the focus of which concerns public meetings’ accessibility and participation in the same. While the majority of these changes take effect at the fast approaching date of June 9, 2022, the Governor’s signing immediately implemented others ...

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