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Sustainability Reporting: To What End?
TSMP Law Corporation, October 2019

Activists and government leaders are sounding the death knell for our planet unless something is done about climate change. But while sustainability is important, sustainability reporting may not be the answer.In a headline-hogging speech at the UN last month, 16-year-old environmental activist Greta Thunberg berated politicians and business people for doing too little to arrest climate change, ruining the globe for future generations.High-profile scandals back up her claim...

Proposed New Rules Implementing CFIUS Reforms
Dinsmore & Shohl LLP, October 2019

CFIUS inbound investment national security review expanding to certain non-controlling foreign investments in critical technology, critical infrastructure, and sensitive personal data, as well as to certain real estate transactions.  The U.S. Treasury Department published proposed rules in the Federal Register on Sept. 24, 2019, concerning changes to the review process for foreign investment conducted by the Committee on Foreign Investment in the United States (CFIUS)...

The Private Equity, Venture Capital, and Start-up Ecosystem in the UAE: Recent Developments
Afridi & Angell, September 2019

In the lead up to the Expo 2020, the UAE government has taken a number of measures to promote economic diversification, foster growth, and stimulate the region’s innovation environment. The government’s push to develop the private equity, venture capital, and start-up eco-system is a central component of this agenda...

Panama Seeks to Adopt a Framework Law for Public-Private Partnerships
Morgan & Morgan, September 2019

For the past few decades, Panama has established public-private partnerships (“PPPs”) in projects as diverse as toll roads, water treatment plants, ports, telecommunications networks and the generation and distribution of electricity...

Top 5 Challenges with Employee Share Option Plan (ESOP) Implementation and How to Conquer Them
BoardRoom Limited, September 2019

    Employee Share Option Plans or Employee Stock Ownership Plans (ESOP) are gaining popularity in today’s market. The driving force behind this is a competition for top talent and the need to incentivise and or boost productivity among our workforce, not to mention incentivise and reward staff for staying with your company long term...

The Hong Kong Protests – Could This Happen in Singapore?
TSMP Law Corporation, September 2019

The two financial centres have long been considered twins, but where do the similarities end and the differences begin? Hong Kong, now entering its 15th week of protests, has been filled with increasingly incendiary rhetoric and escalating violence. This past weekend saw protesters lighting fires at an MTR station entrance, just outside the uber-luxe Bulgari boutique in Central...

Kochhar & Co. - Indian Company Law Update - July-August 2019
Kochhar & Co. Advocates & Legal Consultants, September 2019

MCA UPDATE – JULY 2019 What When Summary 1. Notification of Ministry of Corporate Affairs (“MCA”) with regards to filing / verification of KYC details of the directors 25.07.2019 The Ministry of Corporate Affairs (“MCA”) has notified the Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019...

Indian Corporate Law and FEMA Update – June - July 2019
Kochhar & Co. Advocates & Legal Consultants, September 2019

What When Summary 1. Online reporting for filing of Annual Return on Foreign Liabilities and Assets (FLA Return) by Indian Companies 28.06...

CalSavers State-Sponsored Retirement Plan Has Officially Launched
Hanson Bridgett LLP, September 2019

As of July 1, 2019, registration officially opened for CalSavers, California's new retirement savings program, formerly known as Secure Choice. CalSavers is a mandatory state-sponsored program for private sector and nonprofit workers whose employers do not offer a retirement plan. Under CalSavers, eligible employers with five or more employees must register with the California State Treasurer’s office as a participating employer in CalSavers...

What’s in a Name?
TSMP Law Corporation, September 2019

A rose, said Shakespeare, by any other name would smell as sweet. But while the Bard may know his flowers, he clearly was no expert on branding Apples.   Rodrigo Duterte, the Filipino president, would like to change his country’s moniker “because the Philippines is named after King Phillip”. He appears to be eager to distance his nation from its colonial past, the said monarch being a 16th century ruler of Spain...

The Chargeback of the Salvadoran Consumer Law
Consortium Legal - El Salvador, August 2019

As of August 7th, 2018, the amendments of the Consumer Protection Law (CPL), which includes for the first time, the consumer protection in the field of electronic commerce (e-commerce), taking that as the contracting process or the goods, services and commercial information trading through data communication webs...

CalPERS Announces New Fees for Section 218 Agreements
Hanson Bridgett LLP, August 2019

CalPERS Announces New Administrative Fees for Section 218 Agreements The California Public Employees' Retirement System (CalPERS), the California State Social Security Administrator (SSSA), announced in July that it will begin charging new administrative fees to public agencies for Section 218 Agreements to pay the cost of administering the SSSA program...

California Supreme Court Potentially Slows Down the Expansion of the Legal Cannabis Market
Hanson Bridgett LLP, August 2019

In Union of Medical Marijuana Patients v. City of San Diego, the California Supreme Court unanimously held that the City of San Diego failed to analyze the potential environmental impacts of its medical marijuana dispensary law. While the main issue in this case was the definition of a project under the California Environmental Quality Act (CEQA), the ruling has important ramifications for the legal cannabis market as a whole...

USTR Announces List 4 Tariffs on $300B Imports from China While Continuing to Accept Exclusion Requests for List 3 Tariffs
Dinsmore & Shohl LLP, August 2019

The U.S.-China trade dispute escalated yet again as the Office of the U.S. Trade Representative (USTR) announced a fourth round of tariffs of 10 percent on an estimated $300 billion of goods imported from China not already subject to Section 301 tariffs.  At the same time, the USTR continues to accept List 3 exclusion requests and is working to complete review of List 1 and List 2 exclusion requests. 1. USTR Announces Section 301 Tariffs on $300B of U.S...

NCUA Issues New Guidance to Credit Unions Which Permits Hemp Banking
Dinsmore & Shohl LLP, August 2019

On August 19, 2019, the chairman of the National Credit Union Association issued a letter with guidance to all credit unions.  Prior to August 19, hemp businesses had difficulty locating banks or other entities that would permit them to conduct normal merchant banking activities. That issue has, in part, been addressed by this letter of guidance. Questions remain, however, regarding many merchant services and whether FinCEN will issue a similar guidance...

The IRS is Coming for Your Cryptocurrency
Hanson Bridgett LLP, August 2019

Over the summer of 2019, the IRS significantly increased its efforts to police the taxation of Bitcoin, Ethereum, and other similar cryptocurrencies. On July 26, 2019, the IRS announced that it had begun sending letters to taxpayers who potentially failed to pay cryptocurrency taxes associated with digital currency transactions or failed to properly report those transactions. By the end of August, the IRS anticipates that it will have sent over 10,000 letters to taxpayers...

Bureau of Cannabis Control Publishes New Distributor Fact Sheets
Hanson Bridgett LLP, August 2019

The Bureau of Cannabis Control recently published two new fact sheets on its website as a resource for industry stakeholders, licensees, and the general public. The facts sheet help everyone better understand the different responsibilities of the cannabis distributor (Type 11) and the cannabis distributor transport only (Type 13) licensee by providing a list of required procedures and guidelines for various distribution activities...

Regulations on Accounting Records for Offshore Companies
Morgan & Morgan, August 2019

In order to comply with the international guidelines regarding corporate transparency, the government of Panama enacted Law 52 of October 27, 2016 in the Official Gazette, which establishes the obligation for Panamanian companies and other entities to maintain accounting records, financial records and supporting documentation of all transactions that took place during the last five (5) years, so that their financial status can be easily determined with reasonable accuracy...

SCA Issues Guidelines for Financial Institutions on Anti-Money Laundering
Afridi & Angell, August 2019

The past year has been a busy one for AML compliance in the UAE. In October 2018, Federal Decree-Law 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations (AML Law) came into force. It contained features recommended by the Financial Action Task Force (FATF), and brought UAE laws in line with international AML standards...

Conventional Thinking
TSMP Law Corporation, August 2019

The Singapore Convention cements the Lion City’s reputation as a dispute resolution hub, making mediation easier to enforce globally. Clients who come to see me about commercial disputes often ask for the same thing: fast resolution. I tell them that there are two tried-and-tested ways to resolve financial claims. First, you can litigate in court and have a judge make a legal ruling on the dispute, in the full gaze of the public...

5 Reasons Why Your Business Needs Accounting Services
BoardRoom Limited, August 2019

Accounting is one of the essential functions your business requires for robust financial management. However, many business owners still opt to handle their accounts in-house. This not only takes up their valuable time but also heightens the risk of compliance issues that could cost their business in the long run. 30% of Singapore start-ups fail within the first three years, and poor financial management is one of the principal causes...

Transfer of Shares in a Private Company: Misstep from the Supreme Court
ENSafrica, August 2019

  It is standard practice that for a share transfer in a private limited liability company to be effective, the transferor and transferee must execute a share transfer form, pay stamp duty on it and present it to the company for registration, together with the related share certificate, if any. The Ugandan Companies Act, 2012 prohibits the transfer of shares unless a proper instrument of transfer has been delivered to the company...

Rwanda has been Admitted as a Member of the OECD Development Centre
ENSafrica, August 2019

  On 20 May 2019, Rwanda was admitted as a member of the Organization for Economic Co-operation and Development (“OECD”) Development Centre, becoming the first East African country to join the Development Centre. Founded in 1961, the OECD Development Centre is an independent platform that enables developed economies to interact, share knowledge and have policy dialogues with developing economies...

The Advertising Regulatory Board: No One-Trick Pony
ENSafrica, August 2019

  We recently reported on a ruling of the new advertising authority in South Africa, the Advertising Regulatory Board (“ARB”). The dealt with the issue of misleading advertising. In this article, we’ll look at three more rulings that make it clear that the ARB deals with a range of important issues...

South Africa: Time to Elect IP
ENSafrica, August 2019

  South Africa recently held its general national election and the result was a win for the incumbent African National Congress (ANC) party. The election was fought against a backdrop of massive unemployment and a stagnant economy. During the course of the election, there was considerable focus on the issue of property rights and particularly, the possible expropriation of immovable property, especially farms...

 

 

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