Dear valued clients, colleagues and friends,We are pleased to bring you the latest legal updates for April 2022 ...
April 20, 2022 By: Arielle Seidman and Anthony Martin Automated and algorithmic decision-making tools have become run-of-the-mill in everything from loan and apartment applications to employment searches and university acceptances. Such tools provide increased efficiency, accuracy, and customer satisfaction for, among many others, banks and financial institutions ...
The pandemic has not slowed down the arrival of self-driving vehicles on our roads. This technological advancement is becoming more and more commonplace, giving rise to a need for deep reflection, especially in the automobile insurance industry ...
Until recently government enforcement and regulatory scrutiny of fraud and other misconduct relating to COVID-19 relief programs were generally limited to end recipients of the relief. These efforts have mostly been directed to fraud in connection with the Paycheck Protection Program, or PPP, a nearly $1 trillion business loan program administered by the U.S ...
The late 1990s to early 2000s were a time when the internet – still in its infancy – was akin to the wild-west; new, uncharted, and rapidly growing in usage and adoption. The accompanying excitement over this new technology fuelled a stock market bubble caused by untenable speculation on dot-com companies ...
On February 24, 2022, the Supreme People’s Court (“SPC”) issued its Decision on Revising the Interpretations of the Supreme People’s Court on the Specific Application of Law in the Trial of Criminal Cases involving Illegal Fundraising (Fa Shi [2022] No. 5, the “New Rules”) ...
On February 24, 2022, the Supreme People’s Court (“SPC”) issued its Decision on Revising the Interpretations of the Supreme People’s Court on the Specific Application of Law in the Trial of Criminal Cases involving Illegal Fundraising (Fa Shi [2022] No. 5, the “New Rules”) ...
On April 7, 2022, Finance Minister Chrystia Freeland tabled the federal government?s new budget for 2022. This budget includes several tax measures relevant to the mining industry in Canada. The Canadian federal government intends to provide $3.8 billion over eight years to implement Canada?s first critical minerals strategy ...
Kudun Sukhumananda , one of the founding partners of the firm and co-head of Corporate and M&A was invited to speak in an academic forum on “Legal Issues and Driving Innovation to Commerce” hosted by the Faculty of Law, Chulalongkorn University together with UTC, the university’s technology center ...
The Government of the Russian Federation has adopted Resolution No. 497 dated March 28, 2022, which es-tablishes a large-scale moratorium on bankruptcy from April 1. Meanwhile, earlier on March 9, 2022, the Fed-eral Tax Service had already decided to suspend the initiation of bankruptcy proceedings. In this newsletter, we will provide you with an analysis of the key provisions of the moratorium ...
On April 2, 2022, the China Securities Regulatory Commission (the “CSRC”) published the revised Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) (the “Draft Archives Rules”). The Draft Archives Rules is now open for public consultations until April 17, 2022 ...
On April 2, 2022, the China Securities Regulatory Commission (the “CSRC”) published the revised Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) (the “Draft Archives Rules”). The Draft Archives Rules is now open for public consultations until April 17, 2022 ...
On March 31, 2022, the Chilean Financial Market Commission ("CMF") published with immediate effect, the General Rule No. 468, which regulates the authorization process for commencement of operations of local General Fund Managers or "AGF" as they are known in Chile, and the minimum background information required by the authority for granting such authorization ("NCG 468") ...
The Department for Work and Pensions (DWP) has published its combined consultation on draft Regulations designed to improve accessibility of illiquid assets for defined contribution schemes. The Department for Work and Pensions (DWP) has published its combined consultation on draft Regulations designed to improve accessibility of illiquid assets for defined contribution schemes ...
In September 2021, the House of Representatives of the Philippines approved House Bill (HB) 7425 upon its third reading. HB 7425 seeks to impose a 12% value-added tax (VAT) on digital transactions in the Philippines ...
HM Treasury has recently published the outcome of its UK Prospectus Regime Review. The Review Outcome sets out important reforms to the UK prospectus regime for the public issuance of securities and admission to trading on capital markets, outlining the policy approach the UK Government will take following last year's Prospectus Regime Review consultation. This briefing note sets out the key measures confirmed by the UK Government in the Review Outcome ...
General information about legal enforcement Legal enforcement involves the securing and collection of monetary claims (and other claims) via the enforcement authorities. The general rules are set down in the Enforcement Act. The act sets out the conditions for securing and enforced settlement of monetary claims and governs the approach that must be taken in connection with this ...
Myanmar will this month re-open for international flight arrivals after a two-year ban and will restart online visa applications, citing a significant decrease in COVID-19 infections across the country. The decision to resume foreign flights was made in line with the latest COVID-19 restrictions issued by the Ministry of Health under the State Administration Council (“SAC”) and was announced as a measure to support the Myanmar economy ...
March 31, 2022 By: Michael Flynn In a March 28 speech, CFPB Director Rohit Chopra announced that the CFPB intends to enforce aggressively against large financial institutions that are repeat offenders, and will ask other federal regulators to take a similar approach. This will include utilizing stronger sanctions, even up to banning business practices, forcing divestiture of business lines, and working with state regulatory agencies to obtain license revocations where appropriate ...
March 31, 2022 By: Michael Flynn On March 16, 2022, the CFPB announced it will expand the scope of its enforcement activities regarding discrimination beyond the specific areas covered by ECOA, by applying the UDAAP unfair practices standard to discriminatory practices in all consumers financial segments ...
A huge number of global and national initiatives have been made to appropriately handle sustainability challenges, including the European Green Deal and the relating Taxonomy. Both mandatory regulations and voluntary principles have been (and will continue to be) initiated and implemented, to ensure or encourage that ESG considerations also are taken into account with respect to financing ...
Economic sanctions The sanctions imposed by the UK, European Union and US following the recent invasion of Ukraine by Russia target the Russian economy. Whilst Russia is the largest country in the world, in terms of the global economy it only made up 3.11% of Global GDP in 2020. The sanctions imposed however will still have wide ranging impacts on all areas of the global market, and can already be seen in dramatically rising energy prices ...
By Glenn Kangisser Shu Shu Wong March 11, 2022 Earlier this month, the English Commercial Court upheld an appeal from an arbitration in MUR Shipping BV v RTI Ltd [2022] EWHC 467 (Comm) that a “reasonable endeavours” requirement in a force majeure clause, invoked due to the impact of US sanctions on Russia, did not require the party claiming force majeure to accept non-contractual performance ...
