We are pleased to issue our second edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space ...
We are pleased to issue our sixth edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space. In this issue, we focus on the sector specific and cross-sectoral regulatory updates relating to investment services, asset management, insurance undertakings, and insurance intermediaries ...
We are pleased to issue our third edition of the Regulatory Compliance Quarterly Updates. These updates are intended to keep Maltese regulated entities informed of regulatory changes and developments taking place in the local financial services space ...
July was a busy month for the FCA in publishing guidance, policy and rules which have a significant impact on a firm’s relationships with its senior managers and staff. On 30 June, and towards the beginning of the “crypto winter”, Sarah Pritchard, Executive Director of Markets at the FCA gave a speech to the City UK Annual Conference entitled “Finding Opportunity in a World of Uncertainty” ...
As the date draws closer for implementation of the Senior Manager and Certification Regime (SMCR) across asset management firms, HR’s attention is turning to the impact of the new regime on regulatory references ...
The Cabinet Office's Better Regulation Executive (BRE) is currently undertaking a review of penalties for businesses that fall foul of the law and business should ensure their views are heard. This spring, a consultation paper will be released which will be the final opportunity for stakeholders and interested parties to contribute to the review before it makes its recommendations to the Government in late 2006 ...
This article forms part of our ‘New How: Perspectives’ report: ‘Can real estate help solve the productivity puzzle?. To access this free report, please click the link below. We all know a happy engaged employee is a productive and successful employee. Unfortunately, the UK has one of the least engaged employee populations in Europe ...
With national governments scrambling to take measures in order to counter the Covid-19 pandemic, we are again confronted with the fact that a EU common policy in the healthcare field is quasi inexistent. This is equally so in respect of the pricing and reimbursement of medicines ...
Judgement of the Court of First Instance in case T-28/03 – Holcim (Deutschland) AG v. European Commission. By Decision 94/815/EC of 30 November 1994 the Commission ordered Alsen Breitenburg Zement- und Kalkwerke GmbH and Nordcement AG (in 1997 these companies merged to become Alsen AG, now Holcim (Deutschland) AG) (hereinafter the "Applicant" or "Applicants") to pay total fines of EUR 3.841 million for infringement of Article 85 of the EC Treaty ...
The Brexit Withdrawal Agreement negotiated between the European Union and the United Kingdom envisaged that during the United Kingdom's transitional period data protection legislation would have been treated in the same way as with the countries of the European Economic Area. This would have allowed a transfer of personal data from the European Union to the United Kingdom without additional measures to ensure adequate levels of data protection ...
On 7 April 2020, the Federal Ministry of Labour and Social Affairs, in agreement with the Federal Ministry of Health, adopted the Covid-19 Working Hours Regulation (hereinafter referred to as the Working Hours Regulation), which allows exceptions to the Working Hours Act for a limited period of time from 10 April 2020. 1 ...
Israeli and international organizations seeking to employ foreign workers in Israel, who are not residents or citizens of the country, in management positions or in positions requiring special expertise or training, are required to apply for a work permit. The work permit will then be issued for a “foreign expert” (B/1 permit) from the Population and Immigration Authority in Israel ...
Let’s be honest, it feels gloomy at the moment. The ramifications of 14 consecutive rate rises are now materialising – creating additional hurdles for those seeking funding and bringing developments forward. Rising borrowing costs will always put pressure on the living sector. However, the UK’s real estate industry is remarkably resilient ...
Born from the free movement provisions of the EU, and reflecting UK Government efficiency objectives, the procurement rules are aimed at ensuring equal treatment and opportunity when public authorities contract for works, goods and services by requiring, in broad terms, a publicised tender process. However, disgruntled bidders have not had a happy hunting ground when seeking to challenge a suspected defective procurement exercise before the courts ...
The rise of social media in recent years has had a significant impact on people's private lives and an increasing number of companies are now using social media for business purposes. However, the opportunities and advantages offered by social media platforms also represent its greatest challenges. Companies often forget that such services do not exist in a legal vacuum – the normal legal framework is still applicable ...
Beginning on January 1, 2017, the State Labour Inspectorate has begun checking presence of the information on results of special evaluation of working conditions on employers’ official websites. Employers shall post on their official websites information concerning results of performed evaluation and the list of proposed actions on improvement of employees’ working conditions ...
Whether remote hearings are desirable for civil proofs is controversial, but this account of a substantial proof in the Commercial Court suggests it was a positive experience The purpose of this article is to report on a recent proof before answer hearing that was conducted fully remotely, and to set out some tentative thoughts on the future of remote hearings based on that experience. This is not intended to suggest that what was done should be followed in all hearings ...
On December 8th, 2020, The President of the Russian Federation signed the Federal Law, introducing the new rules for remote work (hereinafter the “Law”). This Law will come into force from January 1st 2021. Here is a brief summary of new rules: i. New types of temporary remote work In accordance with current labour legislation, an employee and employer can conclude a remote employment contract only on a permanent basis ...
The removal of the Crown’s immunity from English planning law will make buying and developing such land much easier, says Shoosmiths’ planning law team. Crown Immunity dated back to the 1960s and included government departments such as the MOD, Her Majesty’s private estates, the Duchies of Lancaster and Cornwall and the Crown Estate Commissioners. In the past the Crown had only to consult with local planning authorities before carrying out development ...
Military action has made adjustments to the activities of the vast majority of companies in Ukraine. Unfortunately, for many employers, the issue of revising the terms of remuneration of staff in the direction of reduction has become relevant. The Law of Ukraine “On the Organization of Labor Relations in Martial Law” (the Law), which entered into force on March 24, reminded of the restriction of the constitutional right to work for the period of martial law ...
The future of agriculture in Scotland is at a pivotal point. The COVID-19 pandemic has highlighted the challenges faced by farmers and crofters who have worked tirelessly to ensure food production and land management continues at a time when other industries have been brought to a standstill ...
Following the latest government announcements, where do landlords and tenants stand in relation to the recovery of rent unpaid during the Coronavirus pandemic? The simple answer is there is a significant degree of uncertainty, and an awful lot of detail around the government’s proposals and that has yet to be resolved ...
RENT UPDATE COEFFICIENT FOR 2023 Law no. 19/2022 was published in Diário da República (Official Journal) on 21 October 2022 and, among other measures, it establishes the rent update coefficient for the calendar year of 2023. During the next year, the annual update coefficient for rents of the several types of leases, both urban and rural, established in article 24 of Law no. 6/2006 of 27 February, which approved the New Urban Lease Regime (NRAU), will not apply ...
