AML/ATF and Sanctions The Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008 require the Bermuda regulated sector and relevant persons to put in place policies and procedures in order to prevent activities related to money laundering and terrorist financing and to apply enhanced customer due diligence to high-risk jurisdictions ...
We are pleased to introduce our 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 and Asset Management. Our first Regulatory Compliance Quarterly Update can be found here ...
This article explores the importance of protecting your cryptocurrency investment by having access to the ‘private key’. Without it, you are not really in control of that cryptocurrency and can’t prove you are the true ‘owner’ of it. Crypto, cryptocurrencies, NFTs, blockchain – exciting, enticing, and quickly becoming a favoured source of investment ...
August 1, 2022: Emi Rowse Igusa has joined Kudun and Partners as a partner launching a brand new Japan Practice to cater to the burgeoning Japanese legal needs in Thailand. She is a specialist in commercial litigation and international arbitration and has represented numerous clients in arbitration cases under the ICC, LCIA, SIAC and TAI rules ...
In light of the sanctions imposed, ALRUD experts have prepared an Overview of Russian Counter-Sanctions measures that have been taken in response to the actions of unfriendly countries since 24 February 2022. The overview focuses on: Russian counter-sanctions measures Liability Prospects for foreign business Recent trends in litigation and arbitration Assumptions and limitations The review is updated on an ongoing basis. Follow the link to learn more ...
Daniil Lozovsky, Senior Attorney of the Competition/Antitrust Practice, and Grigory Viktorov, Junior Attorney of Competition/Antitrust Practice prepared an article “The new foreign direct investments regime in Russia” in Mergers & Acquisitions Expert Guide 2022 published by the Corporate LiveWire magazine. The article is aimed at informing the readers on the new FDI regime, the corresponding legal basis and the related matters ...
On July 28, 2022, the Michigan Supreme Court determined that employers are prohibited from discriminating against employees based upon sexual orientation. The Elliott-Larsen Civil Rights Act (ELCRA), MCL 37.2101 et seq., prohibits employers from discriminating against employees or applicants on the basis of "religion, race, color, national origin, age, sex, height, weight, or marital status." MCL 37.2202(1) ...
As we reported earlier, the Canadian government published proposed amendments to the Patent Rules in July 2021, to further streamline Canadian patent examination to pave the way for a future patent term adjustment (PTA) system in Canada as per the Canada-United States-Mexico Agreement (CUSMA), as well as to bring Canadian practice in line with the new Patent Cooperation Treaty (PCT) ST.26 sequence listing standard ...
Merger control is an integral part of competition law. The Norwegian Competition Authority (NCA) enforces the Norwegian merger control rules. Notification to the NCA is compulsory before closing and implementing all mergers and acquisitions that bring about a structural «change of control» in the market and exceed the national turnover thresholds ...
BUSINESS TODAY LOOKS NOTHING LIKE it did prepandemic. Every industry has experienced a shakeup in how organizations are managed, operated and shaped. COVID-19-driven pivots, the groundswell of demand for social change and continuous uncertainty has led to a long-overdue shift in business priorities. Chief among those is the need to drive innovation, which has never been more essential to success ...
Kudun and Partners represented Yong Concrete Public Company Limited, one of the largest manufacturers and distributors of precast and ready-mixed concrete products in central and western Thailand, with respect to its IPO with a market capitalization of THB 1.7 billion (approx. USD 47.15 million). At the opening of this first trading day, the company received an 80% increase in its IPO subscription price from THB 2.50 per share to THB 4.50 per share ...
The overturning of Roe v. Wade, combined with a largely unknown workers' compensation case presented to the U.S. Supreme Court — for which certiorari was recently denied — reveal the Biden administration's position on cannabis: The Biden administration doesn't care about cannabis issues ...
There is increasing interest in integrating renewable energy sources into the power grid in the United States. In particular, interest in offshore wind development is growing rapidly. Shortly after taking office, President Biden issued an executive order stating his goal to double offshore wind production by 2030.[1] With leases for offshore wind projects on the East Coast currently being issued, and the construction of two projects already approved, several others are likely to follow soon ...
Shepherd and Wedderburn reported 5% turnover growth to £62.2 million in the year to 30 April 2022. Net profits (before partner distributions) grew 3% to £26 million. In recognition of their commitment to the firm and its clients, in addition to the firm’s performance-related bonus scheme, colleagues will receive an exceptional bonus of 5% of annual salary ...
With the lifting of the restrictions on the presentation of winding up petitions, and the likely cash flow pressures caused by price inflation, it is widely anticipated that we will see an increase in the number of companies subject to winding up proceedings ...
Last month the Scottish Government published “Land Reform in a Net Zero Nation”, a consultation paper on a new Land Reform Bill. The paper sets out the proposals for the bill and seeks views on various related issues, including measures aimed at “large-scale holdings”, changes to subsidies, the introduction of a new type of agricultural tenancy, and transparency of land ownership ...
The inaugural Commonwealth Esports Championships and Commonwealth Esports Forum will be staged at the International Convention Centre in Birmingham on 6-7 August 2022. The championships are a result of the strategic partnership between the Global Esports Federation and the Commonwealth Games Federation, which was announced in May 2020 ...
The National Security and Investment Act 2021 (NSIA) came into force on 4 January 2022. The UK’s Department for Business, Energy and Industrial Strategy (BEIS) published last month its first Annual Report on the NSIA in its first three months of operation. More on this can be found here ...
Esports will this year feature in the Commonwealth Games for the first time. Alongside the Commonwealth Esports Championships, the Commonwealth Esports Forum will be held at the same venue on 5 August. The Forum will bring together thought leaders and idea creators to discuss business opportunities and current issues in the esports sector. Competitors and businesses will be travelling to the UK from around the world to participate in the Esports Championships and Forum ...
Under article 253(d) of the National Internal Revenue Code (NIRC), when an association, partnership or corporation commits an act or omission that violates the Tax Code, the penalty "shall be imposed on the partner, president, general manager, branch manager, treasurer, officer-in-charge, and the employees responsible for the violation". This means that any of the persons enumerated may be criminally prosecuted for the corporation or partnership's criminal act or omission under the code ...
PATENT CASE OF THE WEEK Thaler v. Vidal, Appeal No. 2021-2347 (Fed. Cir. Aug. 5, 2022) In its only precedential patent decision this week, the Federal Circuit answered a question that had long occupied the musings of law professors, students, and legal theorists everywhere: whether artificial intelligence software can be listed as an inventor on a patent application. It cannot ...
Tax treatment under Section 83 Internal Revenue Code (IRC) Section 83(a) states that if property is transferred to a person in connection with the performance of services, the fair market value of the property less the amount (if any) paid for such property is included in the taxpayer's gross income when the property becomes transferable or vests (i.e., no longer subject to a substantial risk of forfeiture) ...
The Feedback Statement on the final Corporate Governance Code (hereinafter referred to as the “CGC” or the “Code”), accompanying the publication of the final CGC dated 5th August 2022 outlines the feedback received from stakeholders and provides the MFSA’s way forward in response to the feedback it received. The CGC is a code issued by the MFSA intended to enhance the governance, culture and conduct of MFSA Authorised Entities ...
On August 5, 2022, in compliance with the mandate set forth in the new article 19 ter of the law 18,010, on money lending operations, the Financial Market Commission (“FMC”) published, , the General Rule No. 484, with the purpose of regulating the requirements, rules and conditions that the money lending operations granted by entities subject to its supervision or oversight must fulfil (the “GR 484”) ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) Partners Ricardo Ma. P.G. Ongkiko, Carlos Roberto Z. Lopez, John Christian A. Regalado, and Ma. Patricia B. Paz-Jacoba and Of Counsel Emmanuel M. Lombos have been cited in The Legal 500’s inaugural Arbitration Powerlist: Southeast Asia 2022. This edition of the Private Practice Powerlist, which draws on extensive research by The Legal 500, highlights the region’s leading arbitration lawyers. Mr ...
