BigTech has kept information about advertising (who is seeing the adverts, who is clicking on the adverts...) largely in a safe under lock and key. This is about to change and advertising agencies could be a major beneficiary. Advertising agencies likely need to invest in capabilities to analyse huge volumes of data, or engage external advisors to do this work ...
Pensions analysis: On 16 December 2022, the Pensions Regulator (TPR) published its consultation on the new defined benefit (DB) funding code of practice together with a response to its first consultation and a consultation on its proposed twin track regulatory approach to assessing valuations including its proposed Fast Track design. Suzanne Burrell, partner at Shoosmiths examines the consultation and its implications ...
Contents Risk analysis in an evolving market Complex fund structures Typical structures in our jurisdictions Legal perspective Waiver of commitments Market risk Competition in the market Concentration risk Liquidity risk ESG risks Conclusion Risk analysis in an evolving market Despite being a relatively long-standing lending product, there have been limited public payment defaults by funds in the fund finance space ...
We are pleased to issue our third edition of the 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 ...
This is the second article in our series about sponsor licences. This article focuses on the effect of an acquisition on a sponsor licence. When selling or acquiring a company that already holds a sponsor licence, certain reporting duties will arise in relation to that transaction ...
As the stock exchange market in the country develops, in addition to the regular auction trading method, block trades or special crossings (via the NTM) are also permitted, whereby the buyer and seller of listed shares can directly negotiate and agree upon the conditions of their transaction ...
This is the first of three articles in our series on sponsor licences. This article focuses on how to obtain a sponsor licence as a Start-up business. In the eyes of the Home Office, a Start-up is a company that has been operating or trading in the UK for less than 18 months on the date that they make a sponsor licence application ...
On 2 January 2023, three pieces of federal legislation came into effect which, if implemented as envisaged, will arguably make the most significant changes to litigation in the on-shore Dubai Courts since the UAE was established ...
Introduction On 22 December 2022, the Malta Financial Services Authority (‘MFSA’ or ‘the Authority’) issued a stakeholder consultation on the proposed establishment of a new framework for Notified Professional Investor Funds (‘NPIFs’). The NPIF framework proposal seeks to introduce a new fund structure, complementing the existing fund frameworks in Malta ...
Gone are the days when marketing campaigns are relegated to just hard copy printed materials. They are more often than not found, promoted and run online, and increasingly through social media which offers a speedy and an efficient method of an organisation speaking to its audience. It also offers the audience the opportunity to like, share and comment on the campaign, providing a unique and ‘in the moment’ conversation between a business and its customers ...
Following the Court of Justice of the European Union (the "CJEU") ruling which invalidated the "public access" feature of the Luxembourg Register of Beneficial Owners (the "RBE"), the Ministry of Justice required Luxembourg Business Registers (the "LBR") to immediately suspend all public access to the RBE pending the introduction of access rights more in line with the conclusions of the CJEU’s ruling ...
On January 19, 2023, the Federal Trade Commission (FTC) published its proposed rule barring most non-compete agreements that would apply to employees. We previously summarized the proposed rule here. The deadline for comments on the proposed rule is March 20, 2023. Comments can be submitted online at Regulations.gov or in writing to Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex C), Washington, DC 20580 ...
On January 5, 2023 the SEC announced a settled Administrative Proceeding with Randy Robertson. Mr. Robertson previously served as the co-portfolio manager for the BlackRock Multi-Sector Income Trust (“BIT”). While serving as the co-portfolio manager for BIT, Mr. Robertson explored the possibility of a BlackRock investment opportunity regarding a potential secured lending investment relating to print and advertising expenses associated with film distribution. Mr ...
In response to the pandemic, the Canadian government launched in the spring of 2020 the Canada Emergency Wage Subsidy (the ?CEWS?), a program that provides employers with a subsidy based on the remuneration paid to their employees and income they lost during the pandemic. Section 125.7 of the Income Tax Act (the ?ITA?) sets out how the subsidy is to be calculated, and likely caused problems for those who had to interpret this ambiguous provision without supporting doctrine or jurisprudence ...
Yukuo Takenaka, President and CEO of Takenaka Partners LLC, was featured in an in-depth profile of the life of Paul Yonamine, CEO of Central Pacific Bank and Hawaii Business Magazine’s CEO of the Year for 2022. In his profile, Mr. Yonamine describes Mr. Takenaka, “as a charismatic business developer who remains his mentor today”. Mr ...
On January 16, 2023, the Commission for the Financial Market (“CMF”) announced the beginning of the implementation of Law No. 21,521, known as the “Fintech Law”, which will come into force on February 3, 2023. The entry into force of the Fintech Law is an extremely relevant milestone for the financial industry since, among other things, it establishes a regulatory framework for services based on Fintech technologies that were not regulated by our legislation ...
The Charity Commission has today (17 January) begun a public consultation on proposed new guidance for charities’ use of social media. It encourages charities to adopt a social media policy which is right for them. Social media presents charities with great opportunities to campaign and comment, to communicate the value they create and to fundraise. But these channels also present serious risks for charities ...
The Online Safety Bill is to be amended to include an offence for officers or senior managers of key tech companies who fail to comply with duties to protect children online. As currently drafted, the offence will apply to senior managers and officers (or those purporting to fulfil such functions) of "user-to-user services" (better known as social media sites, but they could include many online businesses, including forums, online gaming sites and cloud storage providers) ...
On November 22, 2022, the State Administration for Market Regulation ("SAMR") issued for public comments a draft revision to the Anti-Unfair Competition Law of the People's Republic of China (the "Draft Revision", the "AUCL"), which reflects the government's ongoing efforts against unregulated unfair competition activities emerging in tandem with fast-evolving market forces that continue to give rise to new business forms and models ...
Overview On 4 November 2022, the Ministry of Commerce of Cambodia issued two new regulations, namely, Prakas 226 on the Formalities and Procedures of Inspection and Investigation under the Law on Competition (“Prakas 226”) and Prakas 227 on the Conditions and Procedures of Negotiated Settlement under the Law on Competition (“Prakas 227”) ...
On 19 October 2022, the Council of the EU announced that political agreement (the ‘Political Agreement’) had been reached with the EU Parliament on the review of the Regulation on European long-term investment funds (the ‘ELTIF Regulation’) ...
Matters of cross-border company mobility are addressed at European Union level by means of Directive (EU) 2017/1132 (the “2017 Directive”) which provides for cross-border mergers and domestic divisions of public limited liability companies ...
This briefing sets out the key requirements of PIPA and the steps that your organisation can take to prepare for its implementation. PIPA coming into force PIPA was enacted in 2016 to regulate the use of personal information in Bermuda by individuals, companies, public authorities and other organisations ...
With the well-known challenges of the last ten months or so, market conditions deteriorated substantially over 2022 and the venture capital (VC) market became a far more challenging one in which to agree a valuation and raise money. While those challenges are not over, from speaking to VC clients and others, there's a cautious optimism that as 2023 progresses the market will slowly improve ...
