The Internet is a growing medium in the marketing of funds in Hong Kong. However, its use as a distribution channel for funds in Hong Kong is still relatively low. This chapter describes the rules applicable to the use of the Internet in marketing and distributing hedge funds in Hong Kong.There are different considerations for funds authorized by the Securities and Futures Commission (SFC) and for unauthorized funds ...
The United States Supreme Court's recent decision in Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc. et al. is one of the most important securities law decisions handed down by the Supreme Court in many years. It establishes new guidelines in cases where investors seek to hold third parties (such as vendors, as well as attorneys or accountants) liable for participating in securities fraud ...
At the beginning of this year the Supreme Court delivered a decision of principle interest regarding a computer software distributor’s right to severance pay (case no. T 930-06). Through the decision, the court has clarified that the Commercial Agency Act (1991:352) ( “Agency Act”) can be applied analogously to marketing and collecting of orders for computer software, despite the fact that computer software does not constitute goods under the act ...
Are Municipality has been ordered by the European Commission to reclaim the unlawful state aid which the municipality paid to Konsum in Jämtland? The Commission’s decision underlines the importance of governmental authorities, municipalities and county councils monitoring the provisions on state aid in business transactions involving private players ...
In the autumn of 2007, the rules in the Environmental Code on liability for environmental damage in the form of pollution were made more stringent. The changes were due to the EC directive on environmental liability (1). The liability of businesses operators and property owners has thus become more extensive. Amendments have, inter alia, been made to chapter 10 of the Environmental Code ...
The last years have revealed significant divergences between the Romanian Competition Council and the High Court of Cassation and Justice regarding certain merger notification aspects. A recent High Court of Cassation and Justice decision seems however to indicate a potential reconciliation of the positions of the two authorities.The Competition Law no ...
Three separate bids are expected to be submitted to rescue Northern Rock ahead of today's government-imposed deadline.Following a series of government interventions, the chancellor is keen on a private sector rescue for the bank, which has already received £25 billion worth of loans from the Bank of England ...
DALLAS – The Texas Court of Criminal Appeals has reversed and vacated the convictions of two indigent Mexican nationals who have spent the last 12 years in prison on life sentences for the Aug. 6, 1996 killing of a convenience store clerk in the Texas Panhandle ...
What It Means: After 339 days of hearings over five years, and at a cost of almost $30 million, a court in British Columbia has expressed its opinion that the Tsilhqot'in Nation has aboriginal title to approximately 2,000 square kilometres of land, but stopped short of making that opinion legally binding by granting a declaration of aboriginal title ...
On Nov. 20, 2007, the Department of Homeland Security (DHS) officially published “Appendix A” of the Chemical Facility Anti-Terrorism Standards (CFATS) in the Federal Register. This comes as part of the DHS’s ongoing efforts to ensure the adequate security of chemical facilities in the United States. Appendix A, which is an addendum to 6 C.F.R. § 27, identifies over 300 chemicals perceived by the DHS to create a significant threat to human life or health if mishandled ...
On certified questions from the United States District Court for the District of New Hampshire, the New Hampshire Supreme Court has decided that New Hampshire will allocate liability for long-tail environmental claims pro rata by years and limits among triggered policies. See EnergyNorth Natural Gas, Inc. v. Certain Underwriters at Lloyd’s, No. 2006-745 (N.H. Oct. 18, 2007). BackgroundEnergyNorth Natural Gas, Inc ...
Minnesota Federal Court finds no coverage under technology errors and omissions policy because claims did not arise out of a “Wrongful Act” as defined in the policy ...
There is a distinct (and dynamic) overlap between competition law and intellectual property rights, no more evident than from the European Commission's investigations into, and the European Court's judgement in, Microsoft. In a similar vein, the Commission is investigating each of Qualcomm and Rambus for potential abuses of a dominant position (through the allegedly unlawful exploitation of IP rights) in the standard setting arena. No doubt buoyed by U.S ...
The Environmental Liability Directive aims to establish a common framework of environmental liability across the EU to prevent and remedy certain types of environmental damage. The framework is based on the “polluter pays principle”. The implementation date for member states was 30 April 2007. Ireland has not complied with this transposition date and will not have transposed it as a current estimate until early 2008 ...
At long last, the Government's proposals in relation to the development of a Single Equality Bill have been released for consultation. The proposals stem from the work of the Discrimination Law Review that was established in February 2005 to consider the existing framework of discrimination legislation and to develop proposals aimed at harmonising and simplifying the current law ...
The development of online markets continues to pose challenges for legislators, who must balance the protection of IP rights owners with protecting traders against anti-competitive behaviour. Trademarks and copyright are particularly vulnerable to infringement on the Internet ...
The promotion of research, development and innovation (R&D&I) has been identified as a key obligation by both the European Union as well as it member states in recent years ...
In recent weeks, hefty fines for data breaches have been issued in the United Kingdom and Greece. Surprisingly, these fines have not been levied by data protection authorities, but by other regulators with overlapping jurisdiction over data security. The authors, from Hunton & Williams, write that data protection enforcement in Europe appears to be entering a new phase ...
WiMax, Worldwide Interoperability for Microwave Access, is a new product developing in Chile that promises to revolutionise Internet access. WiMax allows high speed transmission of data and multimedia services (e.g., the Internet and videos) from laptops, cell phones and other portable devices from distances greater than was possible with previous technologies. According to some preliminary tests, WiMax equipment can reach up to 40 km in open spaces ...
Currently Romania’s market is characterized by the implementation of two seemingly opposite sets of actions, one aimed at ensuring Romania’s transition to the market economy and the achievement of economic growth, while the other is targeting the environmental protection through promotion of energy efficiency and use of renewable energy sources for electricity generation ...
Much has been made of the e-communication provisions set out in the new Companies Act 2006. However, less is known of a piece of legislation which came into force on 1 January 2007, the Companies (Registrar, Languages and Trading Disclosures) Regulations 2006, which affect the electronic communications of every company and limited liability partnership in the UK ...
On February 27 British Columbia issued “The BC Energy Plan: A Vision for Clean Energy Leadership” (Energy Plan 2007). The document is an extensive statement of provincial energy policy, and a roadmap for future government action in BC’s energy sector ...
Each time we give up a bit of information about ourselves to the Government, we give up some of our freedom. For the more the Government or any institution knows about us, the more power it has over us. When the Government knows all of our secrets we stand naked before official power.” [Introductory remarks of Senator Sam Ervin on S3418, Legislative History of the Privacy Act of 1974 ...
Immediate access to the latest data is essential for business. The Internet and other networks ensure that data are readily accessible. But easy access to data carries with it certain risks, including the risk of unauthorised access. According to research by Gartner in 2006, 80 percent of companies will have suffered an application security incident by 2009 ...
