Latest Briefings

Voluntary disclosures program update – The new normal

The Canada Revenue Agency voluntary disclosures program (VDP) has been around for decades. While the VDP has changed periodically, perhaps the most significant change occurred when the new Information Circular IC00-1R6, initially published on December 15, 2017, became effective on 1 March 2018.

Section 160 liability – Damis Properties Inc. v. The Queen

In Damis Properties Inc. v. The Queen, the Tax Court of Canada (TCC) found subsection 160(1) of the Income Tax Act inapplicable because the appellants and their former subsidiaries were dealing at arm’s length at the time of the transfer of the subject property. The TCC further concluded that, even if subsection 160(1) applied, the liability of the appellants under paragraph 160(1)(e) was nil because they gave fair market value consideration.

Private wealth – the potential for impact

“It is good to have money and the things money can buy, but its good too to check up once in a while and make sure you haven’t lost the things money can’t buy.” – George Lorimer

Nitrate neutrality

Developments on hold, trips to the High Court, nutrient credit schemes… Ever since a European Court of Justice ruling in November 2018, being nitrate neutral has caused headaches and blockages for developers and planners.

Bermuda: Three-day registration for special purpose insurers issuing bonds

Bermuda has always provided an efficient process for insurance submissions of all classes, with applications being approved in under two weeks. On 20 August 2021, the Bermuda Monetary Authority issued a notice announcing that enhancements have been made to allow further streamlining of the registration process for Restricted Special Purpose Insurers (“R-SPI”). Now, the licensing and registration processes of R-SPI registrants whose business model is to issue bonds (e.g. catastrophe bonds and mortgage bonds) will be consolidated and registrants can be fully registered within three business days.

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london

Mayer Brown and BCLP lead on sale of Morgan Stanley’s City HQ

Bryan Cave Leighton Paisner (BCLP) and Mayer Brown acted on Link REIT’s £383.6m acquisition of 25 Cabot Square in Canary Wharf. The acquisition of the 17-floor office complex, which houses Morgan Stanley’s HQ, marks the Hong Kong-based investment trust’s entry into Europe. Mayer Brown acted for Link, Asia’s largest real estate investment trust, led by […]

diversity

40 is the new 30 when it comes to diversity targets

Targets, particularly diversity ones, can be a tetchy issue for law firms. What do they actually achieve? And do we – as a global and successful law firm – need them at all? Whatever your opinion, the goals set by those in favour provide a handy snapshot into what the City wants to achieve. The […]

Roundtable: Remote investigations during Covid-19

The world of investigations relies upon in-depth scrutiny. Whether it be leafing through office documents, conducting forensic interviews or relying upon whistle blowers, an investigator’s physical presence on-site is often key to carving out the truth. However, the in-person part of investigations is largely on hold for the time being due to Covid-19, forcing individuals […]

FRC names new general counsel

The UK Financial Reporting Counsel (FRC) has recruited Financial Services Compensation Scheme veteran Alex Kuczynski as its new general counsel. Kuczynski previously served as chief corporate affairs officer at The Financial Services Compensation Scheme’s (FSCS), where he was also director of corporate affairs and a board director, before leaving the company earlier this year. At […]

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