The Federal Housing Administration recently issued Mortgagee Letter 2022-23, establishing a new COVID-19 Home Equity Conversion Mortgage Property Charge Repayment Plan.[1] The COVID-19 HECM Property Charge Repayment Plan would aid HECM borrowers in covering costs associated with standard property charges. As a condition of their loan, HECM borrowers are required to pay property charges such as property taxes, insurance and homeowner association fees related to their mortgaged property ...
When is one a shareholder or member of a company? This issue was recently considered by the Supreme Court of Uganda in Matthew Rukikaire v Incafex Limited, which ruled that a person who has not fully paid up their shares may be considered a member and shareholder of a company with rights to full participation in the affairs of the company to the extent allowed by the types of shares they hold ...
Shipping & Transport, MalaysiaFactsApplicable legal principlesPlaintiff's argumentDefendant's argumentDecisionCommentThis article examines the basis for an order for a sale pendente lite of a vessel that was arrested by a sheriff in in remadmiralty proceedings as security for the plaintiff's claim.(1) FactsOn 19 November 2017 the defendant's vessel, Shi Pu 1, collided with the plaintiff's bulk vessel, Winning Loyalty ...
A change in administrations from Republican to Democratic usually ushers in increased enforcement, regulation and strategic initiatives. Most of the Trump regulations and initiatives will likely be scrapped where possible. They will be replaced by rules and guidance documents that have been held in abeyance during the previous administration, as well as numerous new initiatives ...
How can UK-based insurance companies providing cross-border insurance services to Hungary prepare for 1 January 2021 (i.e ...
The Covid-19 outbreak is not only a huge challenge for health care, but also has enormous consequences for the economy. Different sectors (such as the hospitality, tourism and transport sectors and many others) will not be able to overcome the difficult times that we are currently facing without public support. Many Member States have already adopted exceptional aid measures and many more will follow, but public support for undertakings must still comply with the EU State aid rules ...
The Corona crisis is not only a huge challenge for health care, but also the consequences for the economy will be enormous. Different sectors (such as the hospitality sector and the transport sector) will not be able to overcome the difficult times we are currently facing without public support ...
25 July marks World In Vitro Fertilisation (IVF) day (or World Embryologist Day) recognising the day in 1978 the first baby was born following successful IVF treatment. To mark the day, we ask what employers can do to support employees undertaking IVF. Background Louise Joy Brown was the first ever baby in the world to be born following IVF treatment ...
Brexit, the United Kingdom’s vote to leave the European Union, raises many questions and some are related to intellectual property issues. There are a few anticipated changes to IP rights due to Brexit. Here is a summary of some key issues, and what could happen next. Trademarks and Designs Proceduresfor treatment of EU trademarks will need to be an element of the negotiations for the UK in leaving the EU ...
President Trump signed the Families First Coronavirus Response Act (“FFCRA” or “the Act”) into law on March 18. The Act requires employers with fewer than 500 employees to provide their employees with paid sick leave and expanded Family and Medical Leave Act rights, subject to exceptions for certain healthcare providers, emergency responders, and businesses with fewer than 50 employees if compliance would jeopardize the business as a going concern ...
With virtual currencies such as Bitcoin becoming ever more popular and accessible, it is important that South African taxpayers carefully consider the tax and exchange control uncertainties that accompany the incorporation of these relatively new systems into businesses and/or investment portfolios. We highlight below some of the tax and exchange control consequences arising from transactions involving Bitcoin ...
What is changing with how prudential regulators view fintech partnerships? How is this affecting financial institutions TPRM programs? Prudential regulators appear to be acknowledging the role that fintech partnerships have in the marketplace, both to expand banking services to previous unbanked/underbanked populations, and to allow smaller, regional banks to develop new markets for their services ...
Are delivery obligations between businesses still to be fulfilled? In principle, commercial contracts and the rights and obligations contained therein remain legally binding, despite the official measures taken to prevent the spreading of COVID-19. However, in connection with travel contracts, the Austrian Supreme Court qualified the outbreak of the infectious disease SARS as a force majeure event that made it unreasonable to perform the contract ...
The government announced that as of 20th April 2020, masks (or alternative face protections) are mandatory when going outside (for authorised reasons only) when the required interpersonal minimum distance of 2 meters cannot be guaranteed. This measure is also applicable in the work environment. On 17th April 2020, a new grand-ducal regulation introducing a series of health and safety measures to fight against Covid-19 entered into force ...
CIVIL LITIGATION What are the effects of COVID-19 and the measures recently taken by the federal government on litigation proceedings? Will the civil courts remain in operation? As of 16 March 2020, a regulation amending the rules of procedure for courts of first and second instance will come into force. This regulation provides for a restriction of court services limited to the strict minimum ...
“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 ...
The rapid rise in COVID-19 infection rates and a shift to Adjusted Alert Level 4 in South Africa have heightened many employees’ fears and reluctance about physical work interactions, returning to and/or continuing to work in traditional workplaces. Employers must prepare to manage these concerns properly and be informed of their rights and obligations regarding remote working arrangements. The stakes have never been higher ...
as published in West Virginia Banker magazine, Winter 2022 In October 2022, the United States Court of Appeals for the Fifth Circuit ruled that the Consumer Financial Protection Bureau’s (CFPB) independent funding structure violates the U.S. Constitution’s Appropriations clause and the principle of separation of powers. The Dodd-Frank Act, passed in the wake of the 2008 financial crisis, provided that the CFPB would not be funded through Congressional appropriations ...
The UK political temperature is rising. With a General Election in the offing next year, and Labour now ahead in opinion polling, UK business would be wise to consider what a change in government could mean for employment law. A recent indication of Labour’s current thinking on employment policy was given by Deputy Leader Angela Rayner, in her speech to the Trade Union Congress (TUC) on 12 September 2023 ...
As a result of the COVID-19 pandemic, many people have been forced to work from home and this has created new opportunities and very fertile ground for the emergence of cyber threats. Accordingly, on 29 April 2020, the Intermediaries Supervision Department of the Hong Kong Securities and Futures Commission (SFC) issued a circular (Circular) containing examples of controls and procedures firms can put in place to manage their cybersecurity risks ...
