1. How do you foresee the evolving regulatory landscape in offshore jurisdictions impacting Asia-based clients in 2024, and what strategies is your firm considering to navigate these changes effectively? Anthony McKenzie (AM): Asia is the world's largest and most populated continent, comprised of many different economies, cultures and laws. The use of Cayman, BVI and Bermuda structures has a long track record throughout Asia and it is this familiarity which has contributed to their popularity ...
As the American press focuses on the dismantling of the Affordable Care Act, the wheels have been set in motion to implement new health care legislation that enjoys strong bipartisan support. The 21st Century Cures Act (the “Act”), signed by President Obama on December 13, addresses a broad range of health care priorities, including drug innovation, biomedical research, and mental health reform ...
January 2, 2024 By: Braeden Mansouri and Alicia Guerra The California Legislature’s laser focus on addressing the state housing crisis did not subside during the 2023 legislative session. While legislators proposed over 150 housing bills, only a fraction of those bills were approved by both chambers. Still, Governor Gavin Newsom signed 56 housing bills into law ...
Governor Wolf announced that 24 Pennsylvania counties will move from the red phase to the yellow phase of the reopening plan beginning at 12:01 a.m. Friday, May 8. The 24 counties announced today are: Bradford, Cameron, Centre, Clarion, Clearfield, Clinton, Crawford, Elk, Erie, Forest, Jefferson, Lawrence, Lycoming, McKean, Mercer, Montour, Northumberland, Potter, Snyder, Sullivan, Tioga, Union, Venango and Warren ...
The False Claims Act (FCA) was enacted to punish and deter fraud against the United States, and to recover moneys obtained through such fraud. Whether an alleged fraud was actually against the United States is a threshold question not posed in the typical FCA case, where allegations usually involve claims for payment submitted to the Army, Navy, Medicare, or other entity clearly part of the federal government. But some cases are not so clear ...
The glacial pace at which the federal government has implemented cannabis policy–particularly in light of the rapid evolution of cannabis laws at the state level–is at the same time predictable and frustrating to those seeking a measure of certainty ...
As U.S. hospitals and health clinics continue preparing for novel coronavirus (COVID-19) patient surges, federal regulatory agencies are developing resources to help health care providers comply with myriad regulatory requirements. In this context, the U.S ...
On April 1, 2019, the Health Resources and Services Administration (HRSA) launched a secure website that lists the maximum price drug manufacturers may charge 340B-covered entities for 340B-eligible drug purchases (the 340B Ceiling Price Site). Drug manufacturers and 340B-covered entities may access the 340B Ceiling Price Site through their HRSA Office of Pharmacy Affairs information system (the 340B OPAIS) account here: https://340bopais.hrsa ...
On June 15, 2022, the Supreme Court of the United States released its long-awaited decision in American Hospital Association v. Becerra in which it unanimously held that the United States Department of Health and Human Services (HHS) overstepped its statutory authority by cutting 340B-related reimbursement to hospitals ...
You may have heard something about GDPR lately and thought "Why should I care? It probably won't affect me or my business.” In reality, the implications of GDPR are far-reaching. The European Union’s General Data Protection Regulation (GDPR) is a set of regulations strengthening data privacy and protection laws for residents of the EU. The regulations take effect in just two months: May 25, to be exact ...
On 14 October 2022, the Minister of Finance, Enoch Godongwana, in terms of the Financial Intelligence Centre Act, 2001 (“FICA”) made amendments to the Money Laundering and Terrorist Financing Control Regulations, 2002, which will come into force on 14 November 2022. In terms of these amendments, the prescribed amount for reporting cash transactions under section 28 of FICA to the Financial Intelligence Centre has increased from ZAR24 999 to ZAR49 999.99 ...
On Oct. 22, 2012, the U.S. Court of Appeals for the Ninth Circuit ruled that the Bureau of Land Management and the U.S. Fish and Wildlife Service (FWS) violated the Endangered Species Act (ESA) by granting a right of way for the Ruby Pipeline project. Center for Biological Diversity v. Bureau of Land Management, No. 10-72356 (9th Cir. Oct. 22, 2012) ...
In United States v. United States ex rel. Thrower, No. 18-16408, on November 14, a panel of the Ninth Circuit gave a skeptical reception to the Department of Justice (DOJ) argument that the district court’s denial of the government’s motion to dismiss a False Claims Act (FCA) qui tam complaint against Academy Mortgage Corporation (Academy) invaded the government’s “prosecutorial discretion ...
When the 2019-2020 legislative session began, no one could have predicted what challenges Pennsylvania and the General Assembly would encounter with the outbreak of COVID-19. The rules changed to permit remote voting, and the plan for the session shifted to a focus on the response to COVID-19. The 12-month budget was replaced with a five-month budget to allow additional time to assess the financial damage ...
BackgroundIndustrial activities are of great importance to Europe’s financial wealth. Industrial emissions, however, cause environmental pollution and industrial emissions constitute a major part of Europe’s total emissions to air, water and soil. Consequently, there is a need for regulation of industrial operations at an EU level.In view hereof the so-called IPPC Directive (Integrated Pollution Prevention Control) was adopted in 1996 ...
On September 14, 2022, the Cyberspace Administration of China (the "CAC") released an exposure draft of the Decision on Amending the Cybersecurity Law of the People's Republic of China (Draft for Comment) (the "Draft") ...
In February 2020, just prior to the COVID-19 outbreak, the Small Business Reorganization Act of 2019 (Subchapter V) took effect.[1] Subchapter V amends Chapter 11 of the Bankruptcy Code to allow certain individuals and businesses with debts of less than $2,725,625 to file a streamlined Chapter 11 case with the goal to make small business bankruptcies faster and cheaper ...
February 2, 2023 By: Manuel Fishman In what may turn out to be a lesson on the limits of the application of equitable doctrines supporting rent relief in the face of good lease drafting, a California court of appeal panel in San Diego has taken a narrow view on the application of the doctrines of quiet enjoyment, frustration of purpose, impracticability and impossibility as a defense to the payment of rent under a lease following State and local closure orders issued in response to the COVID 1
There is no bespoke legislation dealing with “pre-pack” restructuring or sale of the business or assets of an insolvent British Virgin Islands (BVI) company, and in practice, as primarily a holding company jurisdiction pre-packs are not in high demand in the BVI ...
1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? There is no bespoke legislation dealing with “pre-pack” restructuring or sale of the business or assets of an insolvent Cayman Islands company ...
1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? Guernsey stands out against many offshore jurisdictions because it has a dedicated administration regime designed to facilitate corporate rescue. The procedure is broadly similar to that in the United Kingdom, albeit it has been simplified and tweaked to suit Guernsey’s finance industry ...
1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? Jersey does not have a formal administration regime and neither the Companies (Jersey) Law 1991 nor any other legislation provides for a specific rescue remedy equivalent or similar to administration. The one Jersey statutory route closest to administration is the remsie de biens ...
