The government’s push to drive down net migration figures has been well documented. 2024 will see a raft of changes aimed at reducing this figure from the 745,000 that was recorded for 2022. Whilst there is no doubt that the changes will result in reduced migration, it will also make things more difficult for sectors that rely on the sponsorship system to fill vacancies in areas where there are skills shortages in the resident labour market ...
Muted voices: can beneficiaries of a STAR trust be empowered to play "devil's advocate" In In the Matter of the G Trust[1] the Grand Court of the Cayman Islands was asked by the trustee of a Cayman STAR trust to give directions in relation to the question of who should participate, and in what capacity, in an application for rectification of a deed supplemental to the trust (the "rectification application") ...
Succession of digital assets in Guernsey What are digital assets? The term "digital assets" does not yet have a legal definition in Guernsey but it can broadly be understood to mean any asset that is represented digitally or electronically.[1] Digital assets include: cryptocurrencies; NFTs; social media accounts; photos, audio files and video stored in the cloud; reward cards/loyalty programmes; online bank accounts; email accounts; eBooks; websites ...
Flexibility in Bermuda trusts afforded by Section 47 What is Section 47 Section 47 of Bermuda’s Trustee Act 1975 provides trustees of Bermuda trusts with a very useful and flexible tool for varying trusts in the absence of the necessary power either in the trust instrument or otherwise under the relevant legislation. Trusts not governed by Bermuda law can be migrated to Bermuda to take advantage of section 47 and, in such cases, it may be desirable to appoint new trustees in Bermuda ...
Expanding its ability to detect and pursue security incidents, the Federal Trade Commission (FTC) finalized an amendment to the Safeguards Rule[1] on October 27, 2023 requiring non-banking financial institutions to report certain data breaches. By extending this data privacy protection to customers of all financial institutions, this amendment demands fintech firms across the country revisit their cybersecurity and incident-response policies. I ...
Last month, special counsel Robert Hur issued a report detailing his reasons for declining to charge President Joe Biden for retaining classified documents from Biden's time as vice president. Regardless of one's views on its conclusions and underlying rationale, at least some of the report's significance results from the rare glimpse it provides into prosecutorial decision making. The report was delivered pursuant to special counsel regulations, but the U.S ...
This article serves as an overview of our nation’s veteran population in order to better serve them. To accomplish this, it is important to understand who is considered a veteran and the composition of our veteran population and their needs. Under Title 38 of the Code of Federal Regulations, a veteran is defined as “a person who served in the active military, naval, air, or space service, and who was discharged or released therefrom under conditions other than dishonorable ...
At any hour, your company is vulnerable to cybercriminals aiming to cripple your operations. The repercussions are vast, from productivity loss to compromising sensitive information, which erodes trust with customers and employees alike. The financial toll and reputational harm can be severe and lasting. Whether facing a widespread assault or a precise strike, these attacks are escalating in frequency, sophistication and financial impact ...
The use of AI systems and chatbots by employees and employers is gaining more and more foothold at workplaces. It is relevant for the employer to be aware of the regulation applicable to employees' use of AI systems and chatbots and to ensure that the employer's own use of AI systems takes place within the applicable regulation in terms of employment and personal data law. Use of AI Systems by Employees AI systems and chatbots are useful tools for employees ...
Following chancellor Jeremy Hunt’s Spring Budget speech made on 6 March 2024, legal experts at law firm Shoosmiths share their views on the announcements ...
Carey Olsen advises XBTO Global on acquisition of Stablehouse and XBTO International Stablehouse is a digital asset custody and trading platform that helps institutions mitigate risk with security, insolvency remote protection and regulatory compliance, and its combined acquisition together with XBTO International by XBTO Global allows the group to provide integrated and comprehensive digital asset services through a single platform ...
Carey Olsen advises certain sellers in GFL Environmental's secondary offering The selling shareholders, which included BC Partners, GIC, Ontario Teachers' Pension Plan Board, Poole Private Capital, LLC, and entities affiliated with HPS Investment Partners, LLC, collectively agreed to sell 21,000,000 subordinate voting shares at the public offering price of US$34.45 per share in a fully underwritten secondary transaction. RBC Capital Markets, LLC and RBC Dominion Securities Inc ...
Previous European data protection laws only covered controllers of personal data. From 2018 processors can be fined and pay compensation for data breaches in their own right. Is this happening, and what can we learn about managing data processing risks? Looking at GDPR enforcement in the UK and EU, you would be forgiven for thinking that new liabilities for data processors since the advent of the General Data Protection Regulation in 2018 has not made much difference ...
As digital platforms continue to dominate, the gig economy provides jobs that enable flexible working. This article seeks to explore the recent state of play regarding gig-economy working in the UK, and how employers can comply with their obligations. What is the gig-economy? The gig-economy reflects the labour market in which typically short-term jobs are carried out over digital platforms by individuals who can fit such work around their other commitments ...
Quebec is a fertile ground for class actions, with over 550 active cases and between 50 to 100 applications for authorization filed each year. While 2023 marked the fifth anniversary of the ?new? class action division: what is there to watch in 2024? Read on to find out. Opioids and the State: Sanis Health v ...
Russian State Labour Inspectorate (GIT): An employer may impose disciplinary sanction on an employee for disclosing a colleague's salary GIT received a question whether an employer can punish an employee who, ****without the consent**** of a colleague, ****disclosed their salary**** ...
The Department for Transport today announced that design work on the £1.75 billion Midlands Rail Hub can commence with an injection of £123 million. The Midlands Rail Hub project is poised to transform rail connectivity in the heart of England, promising significant benefits for commuters and travellers alike. This is a comprehensive upgrade project that aims to enhance rail services across the Midlands region ...
You may already be aware of a new federal law called the Corporate Transparency Act (the CTA), which became effective on January 1, 2024. The CTA was enacted as part of the National Defense Authorization Act and mandates that certain business entities (“Reporting Companies”) report identifying information to the Financial Crimes Enforcement Network (FinCEN) ...
