07/16/2021
SEC Charges SPAC, Sponsor, Merger Target and CEOs for Misleading Disclosures
The SEC filed a separate litigated action against Kokorich.
Government Regulation
07/16/2021
ESMA Statement Warns on Payment for Order Flow
New ESMA guidance less strict than the established UK position on PFOF.
07/15/2021
Recent Updates of the Cayman Islands Economic Substance Regime bring certain partnerships into scope
This expansion of the regime’s scope necessitated amendments to certain key terms in the Schedule to the ES Act (e.g. broadening of the definitions of “entity” and “relevant entity”) and the addition of new terms.
07/15/2021
Tackling the Gender Pay Gap and Pay Transparency in Ireland
The changes will be introduced on a staggered basis, beginning with larger employers.
07/15/2021
Resealing of Foreign Grants of Probate in the British Virgin Islands
This means that where an individual held shares in a company incorporated in the BVI, the grant of representation will be required in order to deal with those company shares.
07/15/2021
Funds & Investment Management Update - Ireland and Luxembourg - Q2 2021
Other notable developments include the CSSF’s updated guidance on granting loans to the public and updates to its UCITS and AIFM FAQs, the publication of a Circular on remote working as well as further EU sustainable finance developments.
07/15/2021
European Commission announces new European green bond standard
The Taxonomy Regulation sets out a classification of economic activities as environmentally sustainable.
07/15/2021
New Legislation gives Guernsey Revenue Service new Powers and Extends FATCA/CRS Reporting
The Revenue Service will now have the power to enter any business premises to inspect the premises and any documents therein.
07/14/2021
Crowdfunding service providers excluded from investment services legislation in Cyprus
Legal persons providing crowdfunding services are now expressly excluded from the provisions of the Investment Services and Activities and Regulated Markets Law 2017, as amended.
07/14/2021
Court rules on validity and enforceability of time limitation clauses
In the case, MEC Dept of Transport KZN v Raubex KZN (Pty) Ltd and another, the Department of Transport for KwaZulu-Nata and construction company Raubex agreed a contract for routine road maintenance.
07/14/2021
Company directors of UK large public interest entities: watch your steps!
Company directors should also note that its aim is to reform corporate governance standards too.
07/14/2021
Irish court grants pan-EU preliminary injunction in trade mark dispute
The court issued a preliminary injunction in a ruling that builds on the Supreme Court decision in the case of Merck and Clonmel
07/13/2021
UK government announces further anti-pension scams plans
The government agreed with the committee that there should be more focus on the issue of ‘secondary scammers’
07/13/2021
UK court backs rights holder in ‘essential’ patent dispute
The law in respect of the doctrine of equivalents is evolving, and the courts have not yet had the opportunity to fully consider if, or how, it applies to the validity of a patent.
07/13/2021
G20 Agrees on Framework for Pillars One and Two and Targets 2023 Effective Date
The G20 agreement represents a political consensus on a substantial revision to global tax policy.
07/13/2021
BVI Guv okays bills to deter financial crime
The new amendment specifies that investment fund business doesn’t count toward “relevant activities.”
07/13/2021
Linklaters advises Republic of the Philippines on its largest bond offering
The Linklaters team was led by capital markets partner Amit Singh and supported by counsel Christian Felton and Xunming Lim, and US senior associate Jairo Carvalho Lamatina.
07/12/2021
Digital nomads: working inside the UK
If a business has permanent establishment in the UK, this will not just affect the corporate tax position but could also give rise to other compliance obligations.
07/12/2021
MALTA: Cabinet approves extension of commercial court’s competence
Government takes up suggestion made by judge Joseph Zammit McKeon
07/09/2021
Court refuses to sanction Part 26A restructuring plan
A restructuring plan under Part 26A of the UK’s Companies Act was proposed, under which the maturity date of the bonds would be extended, the capital amount due under the bonds would be reduced but the coupon would be increased.