Tourism and event industries are suffering and it is expected that manufacturing enterprises will soon be affected as well. Short-time work can provide a remedy and reduce the economic consequences of the coronavirus for employers and employees ...
On September 8, the Canadian Department of Finance announced the signature of a memorandum of agreement (the "Agreement") between the provinces of British Columbia, Ontario, Saskatchewan and New Brunswick, and the federal government (the "Participating Jurisdictions") formalizing the terms and conditions of the Cooperative Capital Markets Regulatory System (the "Cooperative System"), a project to set up a national regulator for the Canadian securities industry ...
Whilst generational wealth from around the world has commonly been held, in some form, via Cayman trusts, the client base of the local trust industry has in recent years expanded greatly to include a wider range of global family offices, ultra-high-net-worth individuals, and entrepreneurs keen to take advantage of the modern and flexible options on offer ...
A creation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. Law 111-203 (“Dodd-Frank Act”), the Consumer Financial Protection Bureau (“CFPB”) is charged with regulating consumer lending activities of financial institutions and, in partnership with state attorneys general, enforcing numerous federal consumer protection laws ...
A creation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. Law 111-203 ("Dodd-Frank Act"), the Consumer Financial Protection Bureau ("CFPB") is charged with regulating consumer lending activities of financial institutions and, in partnership with state attorneys general, enforcing numerous federal consumer protection laws ...
We would like to inform you that today the President of the Russian Federation signed the Law dated April 28, 2023 No. 139-FZ significantly amending the Federal Law dated April 29, 2008 No. 57-FZ Federal Law “On Procedures for Foreign Investments in Companies having Strategic Importance for the National Security and Defense” (hereinafter – the “Strategic Investments Law”) ...
The federal agency now well-known as the Consumer Financial Protection Bureau was established by Congress in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The CFPB is a uniquely independent agency, shielded from the executive branch in a way that other agencies are not. Doing away with that independence has the potential to significantly alter the CFPB and its regulatory work ...
A share buyback essentially occurs when a company acquires some of its own shares through means other than by subscription. Such acquired shares are colloquially referred to as treasury shares and allow for flexibility with regards to the company’s capital structure since the sale thereof does not constitute an allotment or issue of shares and thus the restrictions imposed thereon do not apply ...
The Commission for the Financial Market (“CMF”), issued the General Rule No. 443, dated June 15, 2020 (the “NCG 443”), in order to establish the requirements to temporarily exempt from the presentation of certain documentation in the applications for registration of public offers of securities, and to permanently amend the General Rule No ...
The incorporation of the Law on Security Interests in El Salvador has the objective to create a registry for security interests, that is to say, the inscription of the security interests’ creation, modification, extension, termination and execution, as well as the publicity of these instruments. The Commercial Value that some brands have, plays a very important role and represents, for some entrepreneurs, a mechanism which enables them to access credits ...
Charities need many things to make a difference, including good people and sufficient funding, but effective leadership underpins everything and the recently refreshed Charity Governance Code is a valuable tool in striving to practise good governance ...
There are currently over 4000 (four thousand) cryptocurrencies in circulation and about 51,200,000 (fifty-one million, two hundred thousand) active traders of cryptocurrency around the world. With the proliferation of cryptocurrency and the associated technology that backs it, innovators have begun to take advantage of the multifunctional nature of cryptocurrency and have created products that could change or disrupt traditional banking and finance ...
In recent times, the financial market has been abuss with discussions about the potential benefits of real estate tokenisation. Several initiatives worldwide, such as Propchain in Dubai, Vave and Equisafe in France, Propellr, Inveniam Capital Partners, and Fluidity in the United States, as well as Elevated Returns in the United States and Thailand, have taken the bold step of launching tokenised real estate projects ...
November 17, 2023 By: Michael Flynn In an effort to promote “open banking” and reduce “sticky banking”, make it easier for consumers to compare their current financial institution to competitors, and to generally increase competition among financial institutions, on October 19, 2023, the CFPB proposed a new Personal Financial Data Rights Rule, which, if it becomes final, will likely take effect early in 2024 ...
The Central Bank of Ireland has today issued its feedback statement on Consultation Paper 85 dealing with loan originating qualifying investor alternative investment funds (QIAIFs). In the feedback statement the Central Bank has announced that it will allow for the authorisation of QIAIFs that originate loans from 1 October 2014. The Central Bank's AIF Rulebook is being updated to reflect this change ...
The economic substance requirements in the Cayman Islands, introduced by the International Tax Co-operation (Economic Substance) Act (as revised) (the “ES Act”) (Economic substance requirements in the Cayman Islands), have been extended to partnerships pursuant to the International Tax Co-operation (Economic Substance) (Amendment of Schedule) Regulations 2021, which came into force on 30 June 2021 ...
On Dec. 16, 2009, U.S. Attorney General Eric Holder announced the terms of a deferred prosecution agreement reached with Credit Suisse AG to address prolonged and systematic violations of federal and state criminal law ...
The CARES Act provided historic, temporary relief to mortgage holders facing Covid-19-related financial troubles. R. Aaron Chastain, partner at Bradley Arant Boult Cummings LLP, looks at where mortgage lenders and servicers stand as the pandemic continues and federal agencies and state governments continue to adjust compliance requirements and rules ...
