Even though Belgium is lagging behind when it comes to enacting specific legislation, companies doing business in Belgium should be aware of the risk of being held accountable for human rights violations or environmental pollution up or down their value chain. Human rights violations are a ‘hot’ topic and businesses are confronted with ethical challenges in this respect ...
Proposition 65 is a 1986 California right-to-know law requiring businesses to provide “clear and reasonable” warnings of potentially harmful exposures to chemicals appearing on the growing list maintained by California’s Office of Environmental Health Hazard Assessment (“OEHHA”) ...
Many banks formed holding companies in the late 1980s and 1990s. They had various reasons for doing this. Some formed a holding company to hold subsidiaries providing nonbank activities. Some used the holding company to reduce state taxes in states where banks are taxed differently. Some were acquisitive, and holding companies gave them more options in acquiring banks. Some thought the holding company would help improve the marketability of the stock ...
The Competition and Markets Authority (CMA) and Advertising Standards Authority (ASA) are increasing their scrutiny and enforcement of ‘green claims’ to protect consumers from 'greenwashing'. What are green claims? Green claims (also known as ‘environmental claims’ or ‘eco-friendly claims’) are claims that a product, service, or business provides a benefit or is less harmful to the environment ...
The Arendt Weekly Update is a newsletter designed to give you the insight you need without overloading your mailbox. It lists the latest news, topical webinars, training courses and more ...
This is a summary in which we have briefly described the main regulations issued so far in Argentina during the COVID-19 health emergency that affect or are related to fintech and digital banking activities ...
Quick Overview The ARRC released an updated version of its recommended LIBOR fallback language for USD LIBOR syndicated loans on June 30, 2020. Among other updates, the updated fallback language recommends a “Hardwired Approach” to effect LIBOR replacement and removes the previous alternative recommendation for an “Amendment Approach ...
Shareholders with a substantial interest in a listed company are required to disclose their shareholdings in order to improve market transparency, prevent insider trading, and facilitate informed investment decisions. In most countries in Asia, initial disclosure is required once a shareholder acquires an interest in 5% of a listed company’s voting shares. In Taiwan and Sri Lanka it is 10% ...
The Asia Cloud Computing Association (ACCA) has launched its new research report entitled “Asia’s Financial Services: Ready for the Cloud—A Report on FSI Regulations Impacting Cloud in Asia-Pacific Markets.” SyCipLaw Partner Rose Marie M. King-Dominguez with Senior Associate Ruben P. Acebedo II contributed the information on the Philippines ...
Contents Risk analysis in an evolving market Complex fund structures Typical structures in our jurisdictions Legal perspective Waiver of commitments Market risk Competition in the market Concentration risk Liquidity risk ESG risks Conclusion Risk analysis in an evolving market Despite being a relatively long-standing lending product, there have been limited public payment defaults by funds in the fund finance space ...
Assessing lender risk in fund finance markets 2024 (GLI chapter) Contents Risk analysis in an evolving market Complex Fund structures Typical structures in our jurisdictions Feeder vehicles Legal perspective Market risk Competition in the market Concentration risk Liquidity risk ESG risks Conclusion Acknowledgment Risk analysis in an evolving market Despite being a relatively long-standing lending product, there have been limited public payment defaults by f
Introduction The sphere of asset tracing and recovery, particularly the extent of tools available around the world, is rightly attracting more attention in cross-border fraud and investigations. This includes projects at the international level, such as UNCITRAL's ongoing efforts (for which the author acts as an expert), as well as attention being given in national legislatures around the world ...
Given the current economic climate, many employers are reformulating their businesses or are aiming to cut costs, which may give rise to more cases of proposed redundancies. We discuss how affected employees can best navigate these uncertain times. A redundancy situation is rarely welcomed by both employers and employees; they can represent financial hardship, both for employers struggling with profitability, and the inevitable direct impact on individual employees and their families ...
After two years of review, the Office of the Comptroller of the Currency (OCC) recently announced that it will begin accepting applications for special purpose national bank charters from financial technology (fintech) companies. The OCC’s announcement came hours after the Treasury Department endorsed the approach ...
Just over one year ago, new ATM regulations under the Americans with Disabilities Act (ADA) became enforceable. Since virtually the stroke of midnight on March 15, 2012, banks, credit unions and other ATM operators have been served with lawsuits alleging noncompliance with certain of those new ADA regulations, particularly those requiring auxiliary aids and services for ATM users who are blind or have low vision ...
An important update to Georgia’s statutory lien waiver laws will take effect on January 1, 2021. This summer, Georgia enacted an amendment to O.C.G.A. § 44-14-366 (the Lien Waiver Statute), that alters the form for interim and final lien waivers. The new statute makes it clear that lien waivers only waive lien or bond rights against the property and do not waive the right to file a lawsuit for non-payment or other related claims ...
IntroductionAs of 8 January 2009, Belgian listed companies and financial undertakings are required to have an audit committee. The Law of 17 December 2008 on the establishment of an audit committee in listed companies and financial undertakings (the “Law”) then enters into force ...
The TCEQ will hold an informational meeting today (August 31) from 9:30 A.M. until 3:00 P.M. (CST) to discuss the proposed changes to the air quality permit by rule and standard permit for oil and gas production facilities. TCEQ has proposed significant changes to both of these expedited air quality permitting authorizations that will make it more difficult to qualify for, and more complicated to comply with, the authorization ...
Australia has a complex system of taxation including a Federal income tax, capital gains tax and goods and services tax (GST) and eight separate State and Territory systems of duties and taxes. Tax planning is therefore important to maximise after-tax investor returns. The following guide sets out some high level issues to consider on a global M&A deal where the target is an Australian company or business or where downstream Australian subsidiaries are involved ...
The General Provisions referred to in Article 58 of the Law to Regulate Financial Technology Institutions (“Fintech Law”), Circular 12/2018 addressed to the Electronic Payment Funds, relative to the general provisions applicable to the operations of the Electronic Payment Funds and the General Provisions applicable to the Financial Technology Institutions (“Fintechs”), were published in the Federal Official Gazette (Diario Oficial de la Federación) on Septembe
On June 10, the Consumer Financial Protection Bureau (“CFPB”) issued a rule bringing non-bank automobile finance companies under its supervisory authority. Auto finance companies were already subject to the enforcement and regulatory authority of the CFPB, but under the new rule, certain auto finance companies are also subject to routine and cause-based examinations by the CFPB. The rule goes into effect on August 31 of this year ...
A year after auto-enrolment's 10th birthday the government gives the green light to changes which have the potential to extend to workplace pension savings initiative to more workers than ever before ...
The Superintendence of Finance of Colombia (SFC) introduced, by means of External Circular 035 of December 27th, 2019, the automatic authorization of collaboration agreements for the promotion of foreign financial services or products entered into by a local stock brokerage firm or a local financial corporation and a foreign financial entity provided they comply with the following requirements ...
New Law on Aviation In order to keep up with the development of the aviation industry in Indonesia, on 17 December 2008, the House of Representatives passed the Bill on Aviation. This Bill came in force on 12 January 2009 as Law No 1 of 2009 regarding Aviation (“Law 1”) ...
Changes to the rules relating to the use of red diesel will come into effect from April 1 2022 as a result of amendments to the Hydro Carbon Oil Duties Act 1979. The new rules set out a list of “excepted machines” which are allowed to use red diesel. A vehicle that is used for a purpose related to agriculture, aquatic farming, horticulture and forestry is allowed to use red diesel and can be used on the public road if the use is for one of those purposes ...
