A Data Protection Impact Assessment (“DPIA”) is a process which helps employers to identify, analyse and minimise the data protection risks of a project. But when should employers be using a DPIA and what makes a DPIA effective? When should employers be using a DPIA? The Data Protection Act 2018 (the Act) states that a DPIA must be implemented before any processing is undertaken which is “likely to result in a high risk” to individuals ...
Insolvency that stems from the obligations assumed by a joint venture may concern any of the associates. Such proceeding, especially when it has an international dimension, requires a broader perspective on some of the requirements set forth by law with respect to the initiation and application of the proceeding. Through its effects on the debtor, creditors and on the socioeconomic environment in general, insolvency is more than a mere legal procedure ...
Recent proposed amendments to the rules of Strate, South Africa’s central securities depository (the “Strate Rules”) will effect a significant change to how uncertificated securities are pledged, but will not solve all of the problems that market participants hoped would be addressed ...
A rose, said Shakespeare, by any other name would smell as sweet. But while the Bard may know his flowers, he clearly was no expert on branding Apples. Rodrigo Duterte, the Filipino president, would like to change his country’s moniker “because the Philippines is named after King Phillip”. He appears to be eager to distance his nation from its colonial past, the said monarch being a 16th century ruler of Spain ...
At the end of Paris fashion week we look at the unexpected yet fascinating role of data analytics in the fashion industry. As one of the most important events in the fashion calendar, Paris Fashion Week, comes to a close, the catwalks remind us just how much we revere the creative, the inspirational, the artistic and the fluid ...
The COVID-19 pandemic has hit small businesses particularly hard. And, the Small Business Administration’s disaster loan program can offer many of those small businesses a lifeline. But, it can be daunting to know what relief is available (and for what purpose), who qualifies, and how to apply. This is what you need to know. The SBA has two types of disaster loan programs—one through banks and one directly from the SBA via the U.S. Treasury ...
On 15 April 2016, the Minister of Mineral Resources, Mosebenzi Zwane (the “Minister”), unexpectedly published the draft Reviewed Broad Based Black-Economic Empowerment Charter for the South African Mining and Minerals Industry, 2016 (“draft reviewed Mining Charter”). The timing of its publication means that the fate of the Chamber of Mines’ current High Court application now hangs in the balance ...
The Minister of Mineral Resources, Mosebenzi Zwane (the “Minister”) recently gazetted the Broad-Based Black Socio-Economic Empowerment Charter for the South African Mining and Minerals industry, 2017 (the “2017 Mining Charter”), which comes into effect on the date of publication ...
Margin ratchets are a concept that the banking and finance world are familiar with. Increasingly these are linked to ESG loans with both lender and borrower engagement. How do they work in practice, what are the benefits and what are the potential risks? Typically margin ratchets are linked to financial covenants – more often than not leverage – they incentivise borrowers to improve their financial health over the life of a loan ...
Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act” (sometimes referred to as the “Consolidated First D
Update: On September 16, 2021, the Final Rule on Borrower Appeals of Final SBA Loan Review Decisions was posted and became effective on September 14, 2021 (the “Final Rule”). The Final Rule applies to all appealable final SBA loan review decisions under the PPP and applies to all appeals filed after the effective date and to those appeals filed before the effective date for which a notice and order has not been made ...
Knowing what to expect when going into the sale process and teaming up with experienced advisors is critical to making the sale of your business the crowning achievement of all of your hard work. This article discusses several steps in certain business sales, using a hypothetical company named ABC Manufacturing, and provides tips for success at each stage ...
Extensive new powers to investigate and intervene in deals that could have national security concerns come into play this month, lenders and borrowers need to understand the implications now. The National Security and Investment Act (“the Act”) regime came into effect on 4 January 2022. It creates a new national security screening regime for corporate acquisitions in the UK. Certain aspects of the Act apply retrospectively from 12 November 2020 ...
The economic landscape continues to place mortgage customers under significant pressure. Following discussions between the Financial Conduct Authority (FCA) and some of the largest mortgage lenders in the UK, the Mortgage Charter was signed to address measures aimed at helping customers who may be struggling to meet their mortgage repayments amid the cost-of-living crisis ...
It was the age of wisdom, it was the age of incredulity. Blazing yellow sun. Lapping blue waves. Tanned beach bods and a palm tree’s silhouette swaying against an orange sky. Once ubiquitous, the California Fitness logo that hints at its fabulous lifestyle offering has vanished from Singapore. In its heyday “Cali”, as its legions of fans called it, was not merely a gym, it was a status symbol ...
“‘Papa! What’s money?’ Mr Dombey was in a difficulty. He would have liked to give him some explanation involving the terms circulating-medium, currency, depreciation of currency, paper, bullion, rates of exchange, value of precious metals in the market, and so forth; but looking down at the little chair, and seeing what a long way down it was, he answered: ‘Gold, and silver, and copper. Guineas, shillings, half-pence ...
The 2017 South African Budget Review, published on 22 February 2017, contained several statements (summarised below) that may be of interest to pension funds, their investment managers and administrators. Tax Preservation of benefits after reaching normal retirement dates: In 2014, amendments were made to the Income Tax Act, 1962 to allow individuals to elect to retire ...
1. Introduction Equinor’s pioneering «Hywind Tampen» project, set to become the biggest floating wind farm in the world and scheduled to commence construction in late 2022, will mark the first foray into offshore wind production in Norway. Further, the areas «Utsira Nord» (floating turbines) and «Sørlige Nordsjø II» (bottom fixed turbines), both in the North Sea, have as from 1 January 2021 been opened for development ...
In the Loop: With the Hanson Bridgett Government Group We’ve been getting lots of questions from public agencies about the General Data Protection Regulation—known as GDPR. GDPR is a new European Union privacy law that governs the processing of personal data about people residing in Europe. It just went into effect on May 25 ...
Hydrogen is seen by many as the fuel of the future, a substance that can provide heat through combustion, or electrical power from fuel cells, emitting only water in the process. Its potential usefulness, specifically its ability to replace fossil fuels without generating greenhouse gases, makes it the poster child for clean energy. There are various ways of producing hydrogen, but currently most of it is done in the most cost-efficient way, by steam reforming ...
