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’) ...
In recent years, a growing number of construc- tion companies have established employee stock ownership plans (ESOPs).1 The interest in an ESOP is often generated by the need for an exit strat- egy for one or more of the owners of a closely held business, a common scenario in the construction industry ...
Carey Olsen advises Sanctum FI LLP on launch of an Artificial Intelligence-powered investment fund FSHL aims to generate long-term capital growth through a diversified portfolio primarily consisting of equity securities and bonds. The investment strategy focuses on enhanced investment performance at low cost through evolving machine learning algorithms ...
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 ...
The Food Standards Agency (FSA) has launched a campaign highlighting the risks of food labelled as vegan to people with allergies. Research from the FSA has shown that 62% of consumers with an animal-based allergy were confident that products labelled as ‘vegan’ were safe to eat. The FSA says this confidence is incorrect and is putting people at risk ...
This edition covers various topics, starting with a focus on climate litigation, highlighting a significant victory against the Norwegian government by environmental organizations, including lawyers from the SVW team. The newsletter also discusses maritime arbitration in London and concerns over associated costs, as well as increased scrutiny on costs in Norwegian civil cases. Additionally, it provides updates on recent legislative amendments and judgments from the Norwegian Supreme Court ...
The Securities and Exchanges Commission (SEC) has announced a settled Administrative Proceeding with Senvest Management LLC (“Senvest”). Pursuant to the SEC issued Order, Senvest failed to maintain and preserve certain electronic communications and failed to enforce its code of ethics ...
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 ...
Company restoration - British Virgin Islands In this guide, we explain how a company that was incorporated or registered in the British Virgin Islands (company) can be restored to the BVI register of companies (register). In short, there are two restoration processes: (1) arrange for the company to be administratively restored (administrative restoration); or (2) apply for the company to be restored by a court order (court restoration) ...
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 ...
Watch the webinar video and study our key takeaway points from our latest webinar focused on avoiding illegal working and managing risk. Our 2024 webinar programme is focused on supporting HR teams to protect the employee brand proposition of the organisations they work for. Presented by our leading team of employment lawyers these sessions will equip you on how best to handle key risks that could undermine the organisation’s employee brand ...
Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which provide a flexible savings opportunity for non-highly compensated employees, can be added to certain defined contribution plans. New guidance regarding this option has been released, which may be of interest to employers and plan sponsors ...
Krogerus Disputes Day was held on 19 March at Little Finlandia. The popular event gathered dispute resolution and compliance experts to discuss about business disputes with distressed parties. We would like to thank all our speakers and guests for a great Disputes Day and interesting discussions! This year, Disputes Day's theme was Disputes and Distressed parties ...
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 ...
On March 26th, 2024, the President of the Republic enacted the Framework Law on Cybersecurity and Critical Information Infrastructure (the "Law"), after having been generally approved by the Chamber of Deputies, and the preventive control of constitutionality carried out by the Constitutional Court was concluded ...
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 ...
I. Introduction and overview of the issues Many lawsuits involve both covered and uncovered losses. In nearly every state, if a complaint alleges both covered and uncovered claims, the insurer is obligated to defend the entire suit. E.g., Liberty Mut. Fire Ins. Co. v. Copart of Conn., Inc., 75 F.4th 522, 529 (5th Cir. 2023) (Texas law); Buss v. Superior Court, 16 Cal.4th 35, 48, 939 P.2d 766 (1997); General Agents Ins. Co. of America, Inc. v. Midwest Sporting Goods Co., 215 Ill ...
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 ...
Our third article in the series focusing on discrimination in the workplace, covers the protected characteristic of sex (gender). We discuss the current legal position, planned changes and suggested best practice for employers. What is sex discrimination? Sex discrimination occurs when someone is treated unfairly due to their gender. In the UK, it has been illegal for some time (subject to certain exceptions) with the law now incorporated into the Equality Act 2010 ...
Serco Leisure have been issued with an enforcement notice by the UK Information Commissioner’s Office (ICO) for unlawfully processing their employees’ biometric data through facial recognition technology and fingerprint scanning. What can we learn from this? With a rise in remote working as the fallout from the COVID-19 pandemic continues, there has been a proliferation of workplace monitoring ...
