On March 27, 2024 the Securities and Exchange Commission (“SEC”) adopted amendments to Rule 203A-2(e) under the Investment Advisers Act of 1940 (the “Advisers Act”). Rule 203A-2(e) provides an exemption from the prohibition on registration with the SEC that may otherwise affect certain internet based advisers seeking to register with the SEC. Rule 203A-2(e) is referred to as the Internet Adviser Exemption ...
A podcast series that explores privacy themes within some of the most well-known movies. In this episode, William Moore and Max Schrems discuss “The Social Network”. Whether you are a film buff, a privacy advocate, or simply curious about the intersection of storytelling and privacy, take a journey with us as we explore how the big screen tackles privacy ...
April 18, 2024 By: Leah Lively and Alexandra Shulman The Supreme Court of the United States issued an opinion on Wednesday, April 17, 2024, that will make it easier for employees to pursue discrimination claims against their employers based on job transfers or other non-pecuniary personnel decisions. In Muldrow v. City of St. Louis, Muldrow, a female police officer, alleged that she was transferred to a less desirable unit because a new supervisor preferred a male officer for the role ...
Guernsey insurance mergers and acquisitions (M&A) Our specialist insurance mergers and acquisitions (M&A) team have advised on a number of other high-profile insurance industry transactions, including: the sale of Humboldt Re by the Credit Suisse Pension Fund; the acquisition of Kelvin Re by Humboldt Re, and the subsequent merger to create Marco Re; the acquisition of Old Mutual Guernsey by Northstar Bermuda; the acquisition by Islands Insurance Group of Hepburns Insurance, incl
The Sexism in the City inquiry was set up to establish what progress has been made in tackling sexism in the financial services sector. We discuss the findings and offer advice for those in the sector trying to navigate the current regulatory landscape. The financial services industry is crucial to the UK economy. It employs more than 2 ...
It’s hard to keep up with the twists and turns of AI regulation at the best of times, but the suggestion this week that the UK Government may be looking again at its opposition to statutory AI regulation poses as many questions as it answers. It’s hard to keep up with the twists and turns of AI regulation at the best of times, but the suggestion this week that the UK Government may be looking again at its opposition to statutory AI regulation poses as many questions as it answers ...
The Online Safety Act 2023 (the "OSA") became law on 26 October 2023 and will affect over 100,000 organisations. Here, we focus specifically on the overlaps between the OSA and data protection legislation, outlining the synergies (and differences) in key areas, together with some practical tips. This firm has been a consistent source of commentary and practical guidance on the new Online Safety Act 2023 (the ‘OSA’) ...
Carey Olsen advises Beijing Energy International Holding Co. Ltd on $40 million green bond issuance On 2 April 2024, Beijing Energy International successfully issued the bond, featuring a term of two years and a historically low coupon rate of 2.70%. The issuance was oversubscribed by 3.04 times ...
2024 By: Melody Mohammadi Since their inception, the Fédération Internationale de Football Association (“FIFA”) in 1904 and the Union of European Football Associations (“UEFA”) in 1955, football’s most important governing bodies, have aimed to promote fairness and act as representative democracies over arguably the most international sport to date ...
April 12, 2024 By: Charles Whiteman and Daniel C. Silva Friendship only goes so far, at least in the case of the Los Angeles Dodgers’ baseball superstar Shohei Ohtani (“Ohtani”), and his former interpreter and de facto personal manger, Ippei Mizuhara (“Mizuhara”). On April 11, 2024, the U.S ...
Shoosmiths litigation team recently hosted a roundtable discussion with senior inhouse lawyers with clients in financial services, technology and the automotive sectors. In this discussion, each participant discussed their key takeaways from our recent Litigation risk 2024 report, their biggest concerns for the year ahead and identified some areas that need further exploration in 2025 and beyond. AI continues to create uncertainty making it a key litigation risk ...
The first quarter of 2024 was a busy time for regulatory action in the bank M&A space. Coming off a slow year for bank deal announcements in 2023, many bankers and bank advisors believed that 2024 would be a rebound year for bank combinations. Those expectations may be scaled back now that the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released proposed updates to their bank merger application rules and policies ...
On March 28, 2024, the Department of Finance Canada announced a one-year extension to the 15% Mineral Exploration Tax Credit (?METC?) available to investors in flow-through shares. The extension means that the METC will be effective until March 31, 2025. This announcement came at a time when uncertainty loomed over the industry and some stakeholders feared that the government would not renew the METC. Over time, this tax credit has become a key component of flow-through share financings ...
The Bitcoin ‘halving’ event is rapidly approaching, anticipated to occur around the 19th or 20th of April. Currently, there’s an unprecedented level of attention on Bitcoin due to this event. So, what exactly does ‘halving’ entail, and why is there such a buzz surrounding it? The term itself evokes the intrigue of a suspenseful horror film, one that could be straight out of a Stephen King story ...
On April 1, 2024, the U.S. Citizenship and Immigration Services (“USCIS”) announced that its initial registration selection process, commonly known as the H-1B lottery, is complete. This means the USCIS has selected enough initial registrations to meet its numerical limit for both the standard H-1B cap and the advanced degree exemption, often referred to as the “master’s cap ...
In a move aimed at protecting Americans’ data security, President Joe Biden signed Executive Order 14117 on “Preventing Access to Americans’ Bulk Sensitive Data and United States Government-Related Data by Countries of Concern” (the “Order”) ...
The Government is consulting on legislative changes to introduce greater flexibility to access surplus funds in defined benefit pension schemes. The Department for Work and Pensions (DWP) opened consultation further to publishing a paper entitled “Options for defined benefit schemes” on 23 February 2024 ...
Carey Olsen advises Preservation Capital Partners on closing of latest fund at €459 million With the closure of PCP Fund II, Preservation Capital Partners now manages approximately €1 billion in assets across its three operational funds. The Carey Olsen team advising Preservation Capital Partners comprised partner Andrew Boyce, senior associate Rachel de la Haye and associates Oliver Orton and Nicola D'Amico ...
April 2, 2024 By: Leah Lively and Alexandra Shulman On June 6, 2024, new amendments to Washington State’s noncompetition statute (RCW 49.62) will go into effect, which place further limitations on the use of noncompetition agreements in Washington. Substitute Senate Bill 5935 introduces several modifications to RCW 49.62 that Washington employers (and employers with Washington employees) should be aware of: Broader definition of “noncompetition covenant ...
