The effective extension of the deadline to 31 July 2017 by the Guernsey tax authorities (which have vowed not to impose any penalties if CRS reporting and due diligence requirements are complied with on or before this second date) has given trustees additional time to complete their due diligence procedures, pull together the information to […]
Non-dom changes were withdrawn from the Finance Bill at the last minute earlier this year and are now anticipated to be introduced in a second Finance Bill after the summer Parliament break, with effect from 6 April 2017. The recent announcement impacts trustee clients and the families they look after, so it is important to […]
On 26 June 2017, as part of the UK’s implementation of the 4 Anti-Money Laundering Directive (4AMLD), the Beneficial Ownership Register for trusts went live. Although our trustee clients agree with the rationale for the register (i.e. combatting money laundering and terrorist financing), as with CRS reporting obligations there are some grey areas in respect […]
As stated in a previous article, the States of Guernsey had prepared a policy letter and draft legislation to impose, amongst other things, duty on transfers of shares in companies holding Guernsey real property. On 17 May those proposals were approved…
In the recent case of Hong Kong Foods Limited & Anr v Robin Hood Curry Limited & Anr  JRC 050, Sir Michael Birt, Commissioner, addressed a long-standing problem in Jersey contract law involving the nature of claims for misrepresentation. The Commissioner held that a standalone claim for innocent misrepresentation is recognised and that it […]
By Ben Sheppard The first change to England’s waste strategy since 2010, it represents an ambitious programme of reform which will shape the landscape for sustainability to 2030 and with some proposals looking as far ahead as 2050. Affecting the food, manufacturing and packaging sectors as well as the waste sector, key policies include the […]
By Stephen McGowan This month in summary Top Licensing Tip: Merry Christmas to all and to all a good night – Duty of care! Highlights of the City of Glasgow Licensing Board Licensing Statement Highlights of the Aberdeen City Licensing Board Policy Highlights of the new Edinburgh Licensing Policy Gambling Commission publishes new report on […]
By Patrick Shee The Briefing highlights some recent complaints which have come before the Ombudsmen. SIPP providers and financial advisors will benefit from reading our insights into how the Ombudsmen approach certain complaints and how best to apply those outcomes to their own businesses.
By Gergely Szalóki Factoring is an increasingly popular product of banks that appeals to corporate clients of whatever size as it provides liquidity to the clients and stable cash flow. The factoring is usually structured in a way that the vendors of the client do not receive information on the factoring, the bank stays in the background; […]
On 4 December 2018, the implementing Act PSD II (Implementatiewet herziene richtlijn betaaldiensten) was adopted by the Dutch Senate (Eerste Kamer) without further debate. The date of entry into force is not yet available. A Decree to further implement PSD II (Implementatiebesluit herziene richtlijn betaaldiensten) shall also follow.
This year, Maravela & Asociatii’s specialists contributed to two of World Bank’s Doing Business guides, namely: (i) Doing Business: Equal opportunities for all 2017, covering 190 economies, from Afghanistan to Zimbabwe and (ii) Doing Business in the European Union 2017: Bulgaria, Hungary and Romania, covering 22 cities in the aforementioned countries and regulations pertaining to […]
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Clifford Chance has launched a new innovation lab in Singapore to explore legal technology solutions with the input of startups, companies and academics. As part of the firm’s innovation and best delivery hub for Asia Pacific, the project called Create +65 aims to develop and test new technology by gathering players at various ends of the […]
Jones Day has made up 46 new partners globally in its latest promotions round, while London accounts for the majority of Cadwalader Wickersham & Taft’s new joiners. The majority of Jones Day’s new partners – 34 out of 46 – were made up in the US, with a smattering of partners making the grade in the […]
Fried Frank Harris Shriver & Jacobson and Dechert have fought off an appeal from White & Case upholding an earlier High Court decision in favour of Russian lender Sberbank. The appeal made by the International Bank of Azerbaijan (IBA) was unanimously dismissed by Lord Justices Lewison, Henderson and Baker, with White & Case now expected […]
Clifford Chance has pledged to engage other elite law firms in a bid to counter corruption, after the firm came under pressure for acting on a deal involving the son of Equatorial Guinea’s long-serving president. The firm confirmed it played a role in the sale of a private jet to Teodoro Obiang in 2006, with the magic […]
Centrica’s deputy general counsel Justine Campbell has been named as the company’s new legal head following the retirement of its longstanding chief Grant Dawson. Campbell joined Centrica in 2013 as general counsel of its British Gas business, before rising through the ranks to the role of Centrica’s general counsel for UK and Ireland and then […]