As a response to the financial tensions triggered by the dissemination of Covid-19, the ChileanCentral Bank (BCCh) has announced a series of measures aimed at granting liquidity to theeconomy, support the flow of credit and the conveyance of the monetary policy. A core component of these measures is that of a Credit Facility Conditioned to the Increase inPlacements (FCIC) ...
The Chilean Central Bank increased the upper thresholds for the investment in alternative assets by Pension Funds type A, B, C, and D, with the purpose of “promoting the diversification of Pension Funds' portfolios, granting them access to a better combination of risk and return ”. In the case of Pension Funds type E, the former limit was kept ...
On October 27, the Ministry of Science presented what will be the first National Artificial Intelligence Policy containing the strategic guidelines to be followed by the country over the next 10 years with the aim of empowering people in the use and development of Artificial Intelligence (AI) tools and participating in the debate on their legal, ethical, social, and economic consequences ...
With the purposes of expediting the registration and management of trademarks worldwide, on November 27th, 2020, the Executive filed a bill to approve the incorporation of Chile into the "Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks" (the "Madrid Protocol") ...
On December 31, 2021, The Chilean Ministry of Public Works published one of the last calls for bids before closing 2021, corresponding to the modernization and improvement of the current Route 68. The 140.7 km project will connect the municipalities of Santiago, Valparaíso and Viña del Mar and has a budget of approximately US $ 1.2 billion - the highest amount ever in a call for bids under Sebastián Piñera's administration ...
FATCA is a United States Act that requires US persons, including individuals who live outside the United States, to report their financial accounts held outside of the US, and requires foreign financial institutions (“FFIs“) to report information regarding their US clients to the US Internal Revenue Service (“US IRS”). FATCA was meant to combat offshore tax evasion and to recoup federal tax revenues ...
I OVERVIEW The private equity industry has continued to develop in Chile but at rates lower than in previous years. Growth rates of 2.1 per cent for the year ended 31 December 2015 and an expected rate of 1.6 per cent for the year ended 31 December 2016 have certainly affected the investment activity generally. Chile continues to offer, however, an attractive business environment and a stable legal framework ...
For parents, the child maintenance system can seem a vast and complicated system of ropes and pulleys for something they expect should be straightforward. But remember, the Child Maintenance Service (“CMS”), formerly known as the Child Support Agency, is a huge machine with a vast caseload. This unfortunately means that the system does not always work as it should. To help parents, we have set out our top tips for dealing with child maintenance below. 1 ...
Due to massive inspections and new sanitary requirements, ALRUD’s experts from Labour and Employment practice have prepared this material for HR directors, compliance officers and heads of legal departments, on the preparation of the company, for inspection of the Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing (Rospotrebnadzor): Checklist: Preparing the company for inspection of Rospotrebnadzor in Russia ...
In connection with the changes to the migration law that came into force on 29 December 2021, ALRUD presents below the new checklist. This checklist will be useful for foreign nationals, company managers, HR directors, Compliance officers, as well as heads of legal departments and other persons interested in or responsible for hiring foreign workers in Russia ...
Employers are now confronted with the next COVID-19 challenge: safely bringing employees back to work. The recent federal guidelines for “Opening Up America Again” specifically refer to recommended practices for employers ...
Does the recent High Court decision in Butler-Sloss and Others -v- The Charity Commission and the Attorney General change the law on how charity trustees should approach investing their funds? The short answer is “no”. The decision is a reinterpretation of the 30-year-old decision in the Bishop of Oxford case for our modern world and a reinstatement of the fundamental duty of charity trustees to act in the best interests of their charities’ purposes ...
In recent years the Charity Commission has concentrated on its statutory objective to increase public trust and confidence in charities and many in the charity sector consider it has dwelt unduly on the negatives. However the Commission has four other objectives set out in the Charities Act 2011 and we now see more attention paid to promoting compliance by charity trustees with their legal obligations and the effective use of charitable resources ...
The Charity Commission enjoys a range of protective powers under the Charities Act 2011. This note looks at the conditions that must be met before the Commission may exercise those powers, with a specific focus on the powers contained in s76 of the Act ...
The Charities Act 2022 is being introduced in phases. From June 2023 trustees will have greater flexibility over how they procure advice to ensure the terms on which they dispose of a charity’s interests in land are the best that can reasonably be obtained. Voluntary Service Overseas is one of the latest major charities to scale down its office space as it responds to the long-term changes resulting from Covid-19 ...
Charities face challenges on many fronts right now, but one silver lining to the cost-of-living crisis is the popularity of charity shops, especially among younger people. Today sees the launch of Charity Super.Mkt at the Brent Cross Shopping Centre in North London, a great illustration of necessity being the mother of invention, meeting the demand for sustainable fashion and bringing life back to vacant retail space. Charity Super ...
“Who steals my purse steals trash; ’tis something, nothing; ’twas mine, ’tis his, and has been slave to thousands; But he that filches from me my good name Robs me of that which not enriches him, And makes me poor indeed ...
The season of goodwill is upon us, with retailers and the press announcing Christmas charity partnerships to raise funds for good causes, but the cost-of-living crisis will still be with us in 2023. Charities are increasingly feeling a greater level of pressure to be the first line of defence as gaps in public services open up and they face a “triple threat” of increasing running costs (in particular, energy bills), rising service demand, and falling incomes ...
In the latest report published in December 2022 by the Fraud Advisory Panel in conjunction with BDO LLP, 100 UK based charities were surveyed. 69% said that they had experienced financial loss due to fraud. 58% said they believed that the risk of fraud will increase over the next 12 months ...
To mark Charity Fraud Awareness Week on 21 October Shoosmiths hosted a webinar with Jonathan Taylor, head of charities and care at Innovation Broking, entitled ‘Charity fraud and cybercrime: prevention and cure’. New figures show charities reported £8.6 million of lost funds in the last financial year and more than 1,000 incidents of fraud to Action Fraud, but the true scale of fraud against charities is believed to be much higher ...
Good governance counts because without it a charity’s impact can be much diminished, but it is also important not to be overwhelmed by all the detail and to focus on what matters. There is a lot of guidance on governance for charities Someone once said, “With proper governance, life will improve for all ...
A summary of the key takeaways from a recent webinar Charities legal and regulatory preview. "Prevention rather than cure: understand and embrace the quiet revolution in charity regulation" Not our words, but those of the Chief Executive of the Charity Commission back in April when she spoke of the potential of My Charity Commission Account being rolled out for all charity trustees ...
The Charities Bill has been a long time coming. More than ten years ago the Law Commission set out to undertake a targeted review of areas of charity law identified as causing uncertainty and carrying a disproportionate regulatory or administrative burden ...
