We are delighted to present the fourth edition of India Trade and Tax Scan, our monthly newsletter offering key updates, recent developments, and actionable insights in trade and taxation. This edition covers critical updates on Direct Tax, including changes to the ‘Vivad se Vishwas Scheme’, insights from the GST Council Meeting, significant judicial rulings, and global trade developments ...
Carey Olsen advises Digicel on sale of majority stake in Cricket Sporting Investments Ltd. Cricket Sporting Investments Ltd. is the holding company of CPL Limited, which is the operating entity behind the Caribbean Premier League ("CPL"). Founded in 2013, the CPL is the Caribbean's premier Twenty20 cricket competition ...
Our Technology Sector Group comments on upcoming trends and developments to expect in 2025 for the sector. 1. Artificial intelligence (AI) In 2025, AI will remain front and centre, as the hype of the last 18 months gives way to more widespread deployment of AI solutions across organisations – but with that will come increasing legal and compliance challenges ...
Tokenisation is the process of converting legal rights of a real-world-asset (“RWA”) into a digital token that is recorded on a decentralised ledger. Asset-referenced tokens (“ARTs”) can tokenise physical assets such as buildings and commodities; or intangible assets including bonds, equities, intellectual property, quarrying/mining rights or renewable energy credits. ARTs provide a decentralised and transparent way to manage and transfer ownership ...
Compliance with a key component of the EU’s Instant Payments Regulation (“IPR”) is mandatory as of the 9th of January 2025 ...
Regulation (EU) 2023/988 on general product safety (“EU GPSR”) came into force on 13 December 2024 with the aim of ensuring that all non-food consumer products, whether sold online or offline, on the EU market are safe. The EU GPSR, which replaced the General Product Safety Directive (“GPSD”) in the EU, serves as a “safety net” that catches and regulates the safety of consumer products in the absence of other specific rules ...
The Information Commissioner's Office has recently published ‘AI tools in recruitment audit outcomes report’ in which they issue a series of recommendations to AI developers and users to ensure job seekers are protected during the recruitment process ...
The EU Data Act will start to apply in September 2025. It has become clear that one of the most vexing issues in applying the Data Act to real-life scenarios may in fact be a very basic one: Understanding how the apparatus of roles of the Data Act works in practice, and how it interacts with parallel role definitions of other EU laws. We discuss some of these issues and proposed solutions in this brief article ...
A new netting law was published on 1 October 2024 as Federal Decree-Law No. 31 of 2024 on Netting (theNetting Law) and came into effect on 2 January 2025, repealing Federal Decree-Law 10 of 2018 on Netting (theOld Law). The Netting Law provides further clarification on both the legal recognition and enforceability of various financial contracts, and the ability to implement close-out netting (i.e ...
The export control system is intended to ensure that defence-related products, technology and services are only exported from Norway in accordance with Norwegian security and defence policy, and that exports of dual-use items do not contribute to the proliferation of weapons of mass destruction (nuclear, chemical and biological weapons) or their means of delivery ...
Extension of the Act’s scope to number-independent interpersonal communications services (NI-ICS) The new Act broadens the definition of an «electronic communications service» to encompass number-independent interpersonal communication services (NI-ICS). NI-ICS refers to person-to-person communications services that do not connect to numbers within a national or international number plan, nor facilitate communication with such numbers ...
The financing activity in the Norwegian market in 2024 has been positively affected by stable interest rates and inflation levels on a downward trajectory. The US, the EU and Sweden have started their planned interest rate cuts. Although the expectation at the start of the year was that the Norwegian Central Bank would cut interest rates in 2024, a strong labour market and a weak currency have resulted in zero interest rate cuts so far ...
The Committee on Foreign Investment in the United States (“CFIUS”) is a federal interagency committee that is responsible for reviewing certain transactions by foreign persons (governments, individuals and businesses), if they threaten or affect the national security of the United States. In layman’s terms, the CFIUS is a federal body that reviews transactions by non-Americans that might threaten the U.S.’s security ...
Welcome to the new half-yearly review of Krogerus' highlights! In this newsletter, we will share recent case highlights, firm news and insights. Foreword As 2024 draws to a close, it has been a busy year at Krogerus, despite challenging market conditions and ongoing geopolitical uncertainties. While there is still a degree of darkness and uncertainty in the world, we are seeing positive signs in the transactional market, which often signal the start of economic recovery ...
On 2 February 2025, many businesses with commercial activities in the European Union must ensure their staff demonstrate a mandatory level of literacy in artificial intelligence (AI). For businesses without adequate provisions, Shoosmiths is here to help. Under Article 4 of the EU AI Act, anyone using an AI system for commercial activities in the EU (intentionally or otherwise) may fall within the scope of the regulation ...
We are pleased to share the third edition of India Trade and Tax Scan, our monthly newsletter offering key updates, recent developments, and practical insights in trade and taxation. This edition features updates on Direct Tax, including developments under the Black Money Act and amendments to Central Excise Rules by the CBIC, along with significant changes in Goods and Services Tax (GST), judicial rulings, and international trade insights ...
In an era of increasing data breaches and cyberattacks, businesses face mounting risks that can lead to financial, reputational, and operational damage. The cost of a data breach reached an average of $4.88 million in 2024, a 10 percent increase from the previous year ...
Implications of the Finance (2025 Budget) (Jersey) Law 202- for property transactions Stamp duty relief for group company transfers Perhaps the most welcome change is the long-overdue introduction of stamp duty relief for group company transfers of immovable property. To date, transactions between companies within the same corporate group have been subject to stamp duty at the full rates, disincentivising corporate property restructures ...
Acquisition by a Company of its own Shares The Companies (Guernsey) Law, 2008 (as amended) (the “Law”) permits a Guernsey Company to acquire its own shares. Listed companies may use this mechanism to return surplus cash to shareholders, to enhance earnings per share or net assets per share, or to adjust gearing ratios. Listed funds may wish to provide greater liquidity in their shares, especially if the market for their shares is relatively narrow ...
Carey Olsen advises MNRPF on £450 million longevity swap transfer The transaction, which will form part of MNPRF's investment portfolio, protects MNRPF against longevity risk and enhances security for MNRPF members. The Carey Olsen Guernsey corporate team advising on the transaction comprised partner Tony Lane and senior associate Arya Hashemi. Linklaters acted as onshore counsel for the trustee and Eversheds Sutherland acted as onshore counsel for MetLife ...
The United States Patent and Trademark Office (USPTO) has released its long-anticipated final rule on patent fee adjustments (“Final Rule”). Set to take effect January 19, 2025, these changes represent the most significant fee restructuring since 2020. The changes aim to generate sufficient revenue to recover the USPTO's operational costs, while promoting efficient patent prosecution practices. Here's what patent applicants and owners need to understand about the upcoming changes ...
Carey Olsen advises Keyex Limited on successful application for registration as a BVI VASP Keyex provides a platform for cryptocurrency exchange including buying, storing, trading and selling digital assets. Its registration is amongst the first to be approved under the VASP Act, which aims to position the BVI as a leading jurisdiction for digital asset innovation globally ...
The European Blockchain Sandbox (the ‘Sandbox’) is a pan-European dialogue between innovators who come up with particularly interesting, original and useful applications for blockchain technology, and the relevant regulatory authorities that would be involved in such a project. The Sandbox is running from 2023 to 2026 and each year is supporting 20 use cases on the European Blockchain Services Infrastructure (EBSI) ...
Family offices which choose to manage their global investments from Malta have been given a new legal exemption through a recent amendment in the applicable investment services rulebook of the Malta Financial Services Authority (“MFSA”). On the 27th of November 2024, the MFSA issued a circular titled “Establishment of Single Family Offices in Malta” ...
