As foreseen in our previous newsflash, the law on VAT grouping has officially been published, last Friday. The text – which provides for an entry into force on 31 July 2018 – modifies the general VAT Law. It now enables Luxembourg entities sharing financial, economic and organisational links to set up a VAT group, thus allowing them to […]
The Dutch pensions system has been under increasing stress since 2008. A sudden downturn on the financial markets and market interest rates held down artificially, together with rising life expectancy and strict solvency requirements, have produced some unpleasant financial surprises. So the question as to who is responsible or liable for the solvency shortfalls is […]
As a means of increasing innovation and investment, a growing number of countries around the world have introduced preferential tax treatment for research and development and intellectual activities. These regimes provide developed countries with an economic advantage in a highly competitive international tax landscape. In 2015, the OECD released BEPS Action 5 on Harmful Tax […]
The Royal Decree of 9 January 2018 on biobanks (Royal Decree), published in the Belgian Official Gazette on 5 February 2018 and implementing the Law of 19 December 2008 regarding the procurement and use of human substances destined for human medical applications or for scientific research purposes, is going to enter into force on 1 […]
On 26 July 2018, the Luxembourg tax authorities published a circular on specific tax aspects of virtual currencies. As it does not consider virtual currencies to be an actual currency, the circular clarifies that Luxembourg tax accounts cannot be prepared and taxable income cannot be reported in a virtual currency…
By Maria Connolly At the end of July, the Draft Registration of Overseas Entities Bill was published. The intention is that, from 2021, overseas entities wanting to deal in certain UK property will have to register in the overseas entities register (OER). Why will overseas entities have to register?
By Adrian Mansbridge As outlined in our previous articles covering what lies ahead for high rise regulation and the proposed ban on flammable cladding the legislative programme to implement the recommendations of the Hackitt review and to address broader concerns is already underway. However, as anticipated, political concerns have already led to these proposals being “beefed up”…
By Alex Towers With cybertheft and data breaches becoming an increasingly common occurrence, the need to rapidly and accurately identify fraud has driven the development of behavioural biometrics as a means to target automated attacks and suspicious transactions. However, for the technology to function, companies must amass libraries of biometric personal data to construct profiles…
By Rebecca MacCann What happens if you assign your right to litigate to a person or company that is unconnected to the event that creates the right to litigate? In the recent Supreme Court case of SPV Osus Ltd v HSBC Institutional Trust Services (Ireland) Limited & Ors  IESC 44, the Supreme Court held […]
By Pedro Simões Coelho, Ricardo Seabra Moura and Carlos Filipe Couto How is fund management regulated in your jurisdiction? Which authorities have primary responsibility for regulating funds, fund managers and those marketing funds?
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Clifford Chance corporate finance partner Alex Erasmus is to join a blockchain software company later this year as its new chief legal officer. London-based Erasmus will join the executive committee of Block.one in Hong Kong. Block.one is the software publisher behind open-source blockchain protocol EOSIO, which was launched in June 2018 and provides secure and […]
The Serious Fraud Office (SFO) has withdrawn the arrest warrant it had issued against the chief executive of the Eurasian Resources Group, in the latest development to the agency’s long-running investigation into its subsidiary company ENRC. Last month, the SFO announced that ERG’s CEO Benedikt Sobotka was wanted for alleged refusal to comply to an […]
Another magic circle partner is to join Latham & Watkins in London, as it sets its sights on winning work in the infrastructure M&A market. Allen & Overy partner Conrad Andersen, who was promoted in 2008, is to join Clifford Chance partner Brendan Moylan at the US firm. The latter’s move was revealed yesterday. While […]
Fieldfisher is to open a legal support centre in Belfast, years after firms such as Herbert Smith Freehills, Baker McKenzie and Allen & Overy made similar moves in the Northern Irish capital. Fieldfisher says it expects to house 125 personnel in Belfast within the next three years, with 14 people having already been recruited. The office […]
Allen & Overy (A&O) has announced its autumn 2018 trainee retention figures, with 80 per cent of its 46 qualifiers staying on. With a total intake of 46, 44 trainees applied to qualify, 40 of whom were offered newly qualified positions. Overall, 37 trainees accepted the offers. “This is a good result and one which […]
Clifford Chance’s infrastructure M&A head Brendan Moylan is leaving the firm for Latham & Watkins in a move that reunites him with his former magic circle colleagues. Latham aggressively hired from Clifford Chance’s private equity practice in 2013/14 when it took on David Walker, Kem Ihenacho and Tom Evans. The US firm was said to have been […]