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Interpreting five key recommendations of the Independent Fan-Led Review of Football Governance
Shepherd and Wedderburn LLP, January 2022

  In May 2021, the UK Government commissioned an independent, fan-led review of football governance in England following three “crisis events”. The report has thus far received a varied reception. Some have welcomed its recommendations, and believe that they will bring about much needed reform of the current model of football governance...

Changes to the director disqualification regime – what directors need to know
Shepherd and Wedderburn LLP, January 2022

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021 received Royal Assent on 15 December 2021.  The Act implements changes to the Company Directors Disqualification Act 1986 (the CDDA). Importantly, it will allow the Insolvency Service to investigate the conduct of directors of dissolved companies.  What is the current position? The CDDA allows the Insolvency Service to investigate the conduct of directors of insolvent companies...

Transition plans: key to businesses achieving net zero
Shepherd and Wedderburn LLP, January 2022

 How will the UK become a Net Zero-aligned Financial Centre? Last month, the UK Government announced that the UK was to be the world’s first Net Zero-aligned Financial Centre. The Institute for Government defines “net zero” as “a balance between the amount of greenhouse gas emissions produced and the amount removed from the atmosphere”...

Year in Review 2021: EU, EEA and Competition Law
Simonsen Vogt Wiig AS, January 2022

The Supreme Court ended the «Google Ads» case saga The Supreme Court’s recent ruling (14 December 2021) in a case brought by several competing banks against Bank Norwegian ends a many-year-long saga concerning the use of competitors’ trademarks in search engine advertising. The competitors’ brought the case against Bank Norwegian before the Oslo City Court in 2017...

Oregon Supreme Court Holds Hydroelectric Water Rights Automatically Convert to Permanent Instream Water Rights after Five Years of Nonuse for Hydroelectric Purposes
Schwabe, Williamson & Wyatt, January 2022

The Oregon Supreme Court recently reversed a decision of the Oregon Court of Appeals and determined that the lease of a vested hydroelectric water right to the state for instream uses did not qualify as the “use of water under a hydroelectric water right” under Oregon Revised Statute 543A.305(3). WaterWatch v. Oregon Water Resources Department, 369 Or. 71 (2021) (hereafter referred to as Warm Springs Hydro, after intervenor respondent Warm Springs Hydro LLC)...

Chilean Financial Market Commission Opens Public Consultation on Regulation of Fees on Money Lending Operations
Carey, January 2022

In compliance with the mandate set forth in Article 19 ter of Law No. 18,010 (the "Money Lending Operations Act"), incorporated therein by Law No. 21...

Ministry of Finance's Press Release on Foreign Source Income and Stamp Duty on Contract Notes
Shearn Delamore & Co., January 2022

The Finance Bill 2021 has recently been passed in Parliament and gazetted on 31 December 2021 (“FA”). One of the FA amendments, which takes effect from 1 January 2022, is that only income arising from sources outside Malaysia and received in Malaysia by any person who is not tax-resident in Malaysia, would be tax exempt...

Eligible Uses of CARES Act Funds for Compliance and Management Expenses in 2022
Schwabe, Williamson & Wyatt, January 2022

Although the deadline for “incurring” CARES Act funds has passed, Alaska Native Corporations can still use CARES Act funds to pay for administrative and compliance related expenditures in 2022, including staff time spent administrating programs and CARES Act expenses incurred by December 31, 2022. According to U.S...

Eligible Uses of CARES Act Funds for Compliance and Management Expenses in 2022
Schwabe, Williamson & Wyatt, January 2022

Although the deadline for “incurring” CARES Act funds has passed, Alaska Native Corporations can still use CARES Act funds to pay for administrative and compliance related expenditures in 2022, including staff time spent administrating programs and CARES Act expenses incurred by December 31, 2022. According to U.S...

With a Heavy Heart, We Announce the Passing of Our Dear Friend, Al AuYeung
Schwabe, Williamson & Wyatt, January 2022

Although the deadline for “incurring” CARES Act funds has passed, Alaska Native Corporations can still use CARES Act funds to pay for administrative and compliance related expenditures in 2022, including staff time spent administrating programs and CARES Act expenses incurred by December 31, 2022. According to U.S...

Chilean Competition Agency Files First Interlocking Lawsuit
Carey, January 2022

On December 27, 2021, the Chilean Competition Agency, Fiscalía Nacional Económica (“FNE”), filed the first lawsuit with the Chilean Competition Court, Tribunal de Defensa de la Libre Competencia (“TDLC”), for an infringement of the horizontal interlocking prohibition established in Law Decree No. 211 of 1973 (“DL 211”), against Mr. Hernán Büchi, Banco de Chile, Consorcio Financiero S.A...

Courts Begin Interpreting New Due Diligence Requirements For Trustees Before Filing Preference Actions, Pratt's Journal of Bankruptcy Law
Hunton Andrews Kurth LLP, January 2022

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Courts Begin Interpreting New Due Diligence Requirements For Trustees Before Filing Preference Actions, Pratt's Journal of Bankruptcy Law
Hunton Andrews Kurth LLP, January 2022

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Year in review 2021: Data Protection (GDPR)
Simonsen Vogt Wiig AS, December 2021

Record number of fines in 2021 At European level, a record number of fines have been issued during 2021 for violating the EU General Data Protection Regulation (GDPR). Since the GDPR entered into force in the EU on 25 May 2018, the supervisory authorities have imposed or notified fines in approx. 900 cases with an accumulated amount of approx. EUR 1.3 billion. As many as 500 of these cases are from 2021 with accumulated fines of as much as EUR 1...

Upcoming changes to employer right to work checks
Shoosmiths LLP, December 2021

The Home Office has announced changes to employer right to work checks, effective 6 April 2022 that all employers must be aware of. Carrying out right to work checks is an essential part of the recruitment process and it is important that employers are always up to date with any changes in this area.   At present, employers must ask new recruits for physical evidence of their right to work in the UK, such as a Biometric Residence Permit (BRP)...

Leveraging Fintechs and Big Data in a Fair Lending Focused 2022
Bradley Arant Boult Cummings LLP, December 2021

[!<CDATA[ Over the past decade, financial technology companies (fintechs) have been on the rise, disrupting all segments of the financial industry. Their innovative technology, swift adaptation to market trends, and ability to create personalized and efficient customer experiences enabled them to reshape the way we look at, use, and provide financial services...

New California Court of Appeal Decision Upholds Decisions Made By County Retirement System During Great Recession
Hanson Bridgett LLP, December 2021

After more than a decade of litigation, three appeals, and a two week bench trial, the Fifth District Court of Appeal (“DCA”) rejected claims by three retired members of a retirement system that a retirement board breached its fiduciary duties of loyalty and prudence to the retirement system’s members...

Thai Cabinet Passes New Draft Resolution Easing Restrictions on Cross-Border Transactions and Commercial Activities
DFDL, December 2021

On 23 November 2021 The Thai Cabinet passed a resolution permitting the amendment of Ministerial Regulation No. 13 (the “Regulation”) under the Exchange Control Act (1942) which relaxes a lot of the rules on cross-border transactions, online activities and e-commerce matters. The amendments, among other things, includes: Allowing permitted persons (business operators) to accept foreign currency via sources other than bank notes (i.e...

COVID-19 and Prevention of Future Death reports: What do they mean?
Shoosmiths LLP, December 2021

In this article we look at Prevention of Future Death reports (“PFDs”) issued by Coroners in England and Wales – specifically those which have been made in relation to deaths arising from or connected with the COVID-19 pandemic. We assess the significance of the reports and how they may relate to the COVID-19 public inquiry examining the government’s response to the pandemic...

Scottish labour shortage – Where next for employers? Part 2
Shoosmiths LLP, December 2021

Part 1 of this insight focused some of the current immigration routes for consideration by Scottish employers to mitigate the Scottish labour shortage. Part 2 of this insight explores some of the new routes expected to be opened up by Spring 2022. Innovation visas Global Business Mobility Route In spring 2022, the Home office is due to launch the new Global Business Mobility route...

Year in Review 2021: Banking and Finance
Simonsen Vogt Wiig AS, December 2021

We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors.  It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing...

Board Rules Contractor Entitled to Additional Costs After Government Unreasonably Refuses to Accept Equivalent Substitute
Bradley Arant Boult Cummings LLP, December 2021

In Appeal of Carothers Constr., Inc., the Armed Services Board of Contract Appeals (the “Board”) rejected the Government’s reliance on strict compliance with the material specifications for a 2 1/2″ thick roof deck product when the contractor proved the substitute 2″ thick roof deck was equivalent...

Retainage – Pay Attention, Mistakes Can be Very Costly
Bradley Arant Boult Cummings LLP, December 2021

Legislation about retainage has become common place as many states have adopted different limitations, requirements, and schemes.  A recent case in Tennessee is a good reminder that you must pay attention to all of the relevant state’s requirements. Failure to do so can be costly.  In Snake Steel, Inc. v. Holladay Construction Group, LLC, the Tennessee Supreme Court recently addressed Tennessee's retainage requirements...

OSHA Moves to Implement Large Employer ETS by January 10, 2022, After Sixth Circuit Lifts Stay
Schwabe, Williamson & Wyatt, December 2021

In November 2021, OSHA issued an Emergency Temporary Standard that applied to employers with 100 or more employees (the “ETS”). The ETS required those employers to either adopt a policy requiring their employees to be vaccinated against COVID-19 or adopt a masking and weekly testing regime that included removing employees who tested positive for COVID-19 from the workplace...

OSHA Moves to Implement Large Employer ETS by January 10, 2022, After Sixth Circuit Lifts Stay
Schwabe, Williamson & Wyatt, December 2021

In November 2021, OSHA issued an Emergency Temporary Standard that applied to employers with 100 or more employees (the “ETS”). The ETS required those employers to either adopt a policy requiring their employees to be vaccinated against COVID-19 or adopt a masking and weekly testing regime that included removing employees who tested positive for COVID-19 from the workplace...

 

 

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