Related briefings

Privacy Shield open for self-certification on Aug 1

On August 1 US organisations can finally begin to submit self-certification requests to the Department of Commerce under the new EU-US “Privacy Shield.” This opens a new era for the lawful transfer of personal data from the European Union westward across the Atlantic. The Commerce Department has published a practical guide, “How to Join Privacy Shield: Guide to Self-Certification,” […]

Brexit - Flag of European Union

Tax Issues around Brexit

Our European tax team recentlydelivered a breakfast seminar exploring the tax issues and challenges posed by the result of the EU Referendum. The team covered a range of issues, including: the European framework, including overview of the EU, EEA, Eurozone and other European groupings; the process of the UK’s withdrawal from the EU; and the […]

India shuts down Mauritius route

Time to rethink investment structures On May 10 the Indian government issued a press release announcing the signing of a protocol to amend the India-Mauritius tax treaty.1 As a result of these amendments, Mauritius tax residents will no longer be exempt from Indian capital gains tax on sales of shares of Indian resident companies that […]

Insurance: new assessment method for GSIIs

The International Association of Insurance Supervisors (“IAIS”) has published its updated assessment methodology for designating global systemically important insurers (“G-SIIs”) (the “Revised Methodology”). As part of the review cycle of the IAIS and following consultations in 2015 the Revised Methodology now comprises five phases and adopts absolute reference values for certain indicators. Additionally, the Revised Methodology incorporates a […]

Outlook in enforcement actions against foreign banks at the new NYDFS

By Matthew L. Biben, Courtney M. Dankworth, Eric R. Dinallo, Mary Beth Hogan, Gregory J. Lyons, David Sarratt, David G. Sewell, Harriet M. Antczak On June 15 Maria Vullo was confirmed as the new Superintendent of the New York State Department of Financial Services (“NYDFS”), solidifying the first permanent change in leadership at the agency. Since the departure last summer of […]

Latest Briefings

The economic substance requirements for Jersey partnerships

The Taxation (Partnerships – Economic Substance) (Jersey) Law 202- was lodged with the States Assembly on 18 May 2021 and, if passed, is expected to come into effect from 1 July 2021 (with a six month transition period to 1 January 2022 for partnerships established before 1 July 2021).

Tokenized copyrights: Linking an NFT to a copyright licence

In our last report on the NFT (Non-fungible tokens) self-experiment “Formulating a smart contract and minting an NFT”, we looked at what data is packed in a freshly minted NFT. In principle, it is possible to include an entire data set of an artwork (i.e. in our case the GIF) in an NFT and thus on the blockchain. We also pointed out that in our self-experiment we did not only link to the digital artwork but also attached a limited usage licence to the NFT (in the metadata; because otherwise the buyer of an NFT in general will not own any intellectual property respectively rights of exploitation or use to the artwork connected to the NFT).

Virtual Asset Service Providers become subject to registration requirements and AML/CTF obligations

On 23 April 2021, provisions of the Fifth Anti-Money Laundering Directive (5AMLD) were transposed into Irish Law by the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (CJA 2021), which amends the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (CJA 2010). Please see our recent briefing for analysis of changes introduced by 5AMLD: New Irish Anti-Money Laundering Rules.

Child maintenance: traps for the unwary

For parents, the child maintenance system can seem a vast and complicated system of ropes and pulleys for something they expect should be straightforward.

Recommended

Linklaters partner duo exit in rare magic circle switch

A Linklaters duo have left for a magic circle rival, The Lawyer can reveal, becoming partners in its City leveraged finance practice. Allen & Overy has hired Annette Kurdian and Robert Burt. Kurdian joined Linklaters in 2001 and became a partner in 2006. As part of her practice, she advises financial institutions and alternative credit […]

Quinn hires Hogan Lovells quartet for Miami launch

Quinn Emanuel Urquhart & Sullivan is opening an office in Miami with a 10-lawyer team, including a quartet from Hogan Lovells. The new office will be led by John O’Sullivan, who joins from Hogan Lovells, and Quinn’s Samuel Williamson who is relocating from New York. Also from Hogan Lovells are Jason Sternberg, who joins as […]

Munich Germany

Clifford Chance replenishes Munich office with Kirkland trio

Clifford Chance has hired a team from Kirkland & Ellis into its Munich office, months after the departure of two partners to Milbank. The magic circle firm has taken on private equity partners Volkmar Bruckner and Mark Aschenbrenner, who join alongside senior associate Samuel Frommelt. Bruckner has a long track record of representing private equity […]

High Court

Court of Appeal orders retrial after “inexcusable” wait for judgment

A retrial has been ordered in a case involving Natwest’s investment banking arm, after it took 19 months for the judgment to be handed down. In Natwest Markets and Another v Bilta (UK) and Ors, Court of Appeal judges criticised the wait and said a “delay of the magnitude in the present case, whatever the explanation may […]

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