A new BIG GUARANTEE SCHEME was introduced in Slovakia in a form of (i) guarantees for bank loansand (ii) remissions of guarantee premiums as per new Temporary Framework for State aid recently adopted by the European Commission to support the economy in COVID-19 outbreak and via adoption of an amendment (the “Amendment”) to Act No. 67/2020 Coll ...
The Digital Economy Act 2017 introduces a new electronic communications code, intended to facilitate widespread connectivity and address some of the critical issues that currently beset the telecoms industry. The current electronic communications code was issued in 1984 and it was designed to facilitate the installation and maintenance of fixed line communications networks ...
Six months from now, companies, and equally so other employers, are expected to offer a cogent system for the receipt and settlement of reports regarding illegal or unethical practices. ‹‹“Minimal” may be sufficient and “maximal” may prove not to serve the purpose›› says Adriana I ...
The SEC’s Division of Enforcement is implementing a series of measures designed to enhance and encourage cooperation in its investigations and litigation and, the Division hopes, expedite the enforcement program. This project is referred to as the “Cooperation Initiative ...
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The Limited Partnership Fund Ordinance (LPFO), which provides for registration of eligible funds as limited partnership funds (LPFs) in Hong Kong, will come into operation on 31 August 2020. The enactment of the LPFO is a very welcome development, and is part the Hong Kong government’s stated aim to enhance the competitiveness of Hong Kong in becoming a preferred centre for international asset and wealth managers in Asia ...
For the first time, the Nasdaq has allowed common shares of a Canadian cannabis cultivator, Cronos Group Inc., to be cross-listed on the Nasdaq Global Market. This cross-listing for Cronos (TSX-V: MJN; Nasdaq: CRON) marks the first time a cannabis cultivator was allowed to list on any U.S. exchange. In 2015 and 2016, Nasdaq famously rejected the Colorado cannabis-focused social media company MassRoots Inc ...
Recently, the International Organization for Standardization (ISO) adopted a new set of voluntary standards, designated as ISO 37001, to assist organizations in their ongoing fight against bribery. As a result of recent increases in the enforcement of the U.S. Foreign Corrupt Practices Act of 1977 (FCPA) and, notwithstanding the guidance provided by the U.S. Department of Justice’s (DOJ) Resource Guide to the U.S ...
I’ve had a number of queries recently about agricultural tenancies where a partnership is the tenant rather than an individual. This can often give rise to problems and I thought that it would be worthwhile spending some time looking at some of the issues that can arise and how they might be resolved. First of all, in Scots law, a partnership is a separate legal person in its own right quite distinct from the individual partners in the partnership ...
Many businesses rely upon restrictive covenants with their employees. These include noncompete agreements, nonsolicitation agreements and confidentiality agreements. These agreements are intended to ensure that the investment a business makes in its employees, its customer relationships and confidential information are adequately protected. Recently, multiple new rules have been proposed that could see many of these agreements ruled unlawful and unenforceable in the United States ...
This is a summary of the Annual Report. Click here to access the full guide. The 2020 proxy season shareholder proposals were already submitted before the COVID-19 shadow loomed large over the season; however, such shadow likely impacted how shareholders voted on the proposals themselves, impacted business throughout 2020, and continues to jolt 2021 and the forthcoming 2021 proxy season ...
Summary The 2022 proxy season will continue to be affected by the aftershocks of the COVID-19 pandemic, and will be predominantly shaped by the landmark events of the 2021 proxy season, where ESG matters moved from unconventional to mainstream, and women held a historic amount of board seats of the Russell 3000 companies ...
With a new proxy season fast approaching, it’s time for public companies to do a deep download of key securities law updates and business developments of the past year so the company is positioned for success in 2018. Below is a review of the 2017 proxy season, along with a summary of new and anticipated changes that may impact reporting and disclosure requirements for the upcoming 2018 proxy season ...
Now that the holidays are in the rearview and business as usual has begun to pick up where it left off, it’s time for public companies to do a deep download of key securities law updates and business developments of the past year so they are positioned for success in 2019. Below is a review of the 2018 proxy season, along with a summary of new and anticipated changes that may impact reporting and disclosure requirements for the 2019 proxy season ...
A California federal judge issued an opinion on April 20, 2011, providing guidance on an important aspect of the anti-bribery provisions of the Foreign Corrupt Practices Act (“FCPA”) - who is considered a foreign official under the statute. In United States v. Noriega, District Judge A ...
On February 2, 2006, the Quebec Court of Appeal rendered an interesting judgement involving directors’ liabilities in the case of Johnson and Marcil v. André Arthur et al (500-09-012808-028), a lawsuit for slander ...
In 2019 at the World Economic Forum, Antonio Neri, CEO of Hewlett Packard said “Data is the new currency”. This analogy has become very popular because data is now considered one of the most valuablecommodities. In the European Union (EU), data protection is a fundamental right, and the General Data Protection Regulation (GDPR) which came into force on May 25th, 2018, isthe framework for protecting that right ...
In the recent case ofAslan v Stepanoski[1](the Aslan case), the Court of Appeal of New South Wales, Australia upheld a builder’s action suspending the performance of works over non-payment and denial of access to the site by the employer. The Court held that the contractor’s decision to suspend works was not a repudiatory conduct as he was entitled to do so under the contract ...
An interview with Michał Barłowski, the partner in charge of the Bankruptcy and Restructuring practices at Wardyński & Partners, about planned amendments to Poland’s Bankruptcy & Rehabilitation Law. Restructuring is an alternative to bankruptcy. So why do we hear so little about effective restructuring and so much about liquidating bankruptcies? Michał Barłowski: The reasons are many and have various sources ...
HMRC publishes updated guidance on termination fees and compensation payments and confirms the VAT treatment of dilapidations. On 7 February 2022, HMRC published Revenue & Customs Brief 2 (2022) (the 2022 Brief), its long-awaited updated guidance on early termination fees and compensation payments ...
The Parliament of Rwanda recently passed two key laws to counter money laundering, the financing of terrorism and the proliferation of weapons of mass destruction (“WMDs”), in an effort to strengthen and increase confidence in its financial system. Law No. 74/2019 of 29 January 2020 establishing the Financial Intelligence Centre (“Law No ...
Crowded release of new AML rules With the continuous development of onshore financial markets and the ever-intensifying requirements globally for anti-money laundering (“AML”), it has become increasingly imperative for China to improve its AML legal and regulatory frameworks to give further play to the role of AML in building up the modern financial system and deepening the two-way opening-up of the financial industry ...
Crowded release of new AML rules With the continuous development of onshore financial markets and the ever-intensifying requirements globally for anti-money laundering (“AML”), it has become increasingly imperative for China to improve its AML legal and regulatory frameworks to give further play to the role of AML in building up the modern financial system and deepening the two-way opening-up of the financial industry ...
On February 10, 2022, the Ministry of Industry and Information Technology (“MIIT”) issued a second draft of the Measures for Administration of Data Security in the Field of Industry and Informatization (for Trial Implementation) (Draft for Comment) (the “Measures”), which makes revisions to the first draft in response to public comments received following its issuance on September 30, 2021. This second draft opened for public comments until February 21, 2022 ...
