On Friday, September 8, the Maryland Cannabis Administration (MCA) Office of Social Equity released fresh information about its approaching initial licensing round. The update included details on their social equity verification portal, application timeframe and deadlines, and the count of licenses available for each county. Notably, the first round of licensing is limited solely to…
Following some postponement, Delaware’s governor has officially signed into law the state’s comprehensive data privacy law. This noteworthy development positions Delaware as the thirteenth state in the U.S. to institute such a law. This is the seventh law of its type that has been enacted in 2023, following similar legislation enacted in Iowa, Indiana, Tennessee,…
A collective of 50 human rights organizations has rung an alarm over the intensive humanitarian toll of the persisting conflict in Sudan, pressing upon the United Nations to adopt definitive measures. The group came forward with their statement while the United Nations Security Council had its meeting about the enduring situations in Sudan and South…
Internationally recognized law firm, Searcy Denney Scarola Barnhart & Shipley, is currently investigating claims related to the diabetes medication, Ozempic. Primarily known amongst medical professionals, Ozempic had recently entered the public consciousness due to media attention highlighting the drug’s weight loss benefits. However, despite its budding popularity, allegations of the drug instigating severe gastroparesis have…
In an effort to fortify national security through vigorous corporate enforcement, the US Department of Justice (DOJ) appears increasingly committed to prosecuting corporate crimes that have national security implications. This focus marks a defining characteristic of the DOJ’s work under the Biden Administration. The National Security Division (NSD) of the DOJ seems to be directing…
In recent times, the Securities and Exchange Commission (SEC) has become a determining factor in the operations of registered investment advisors. Regardless of the size or nature of operations, no investment advisor is immune to the scrutinous lens of an SEC examination. This event is not merely a possibility; it is a certain inevitability. Against…
Organizations across the globe are grappling with the rapidly evolving landscape of data privacy regulations. From the proliferation of state and federal laws within the United States to the international waters of directives such as the European Union’s General Data Protection Regulation (GDPR), businesses big and small face challenges in complying with a myriad of…
In recent years, Africa has emerged as a formidable player in the global market, bringing to the forefront an investment case that cannot be ignored. Its rapidly growing population and bustling economic activity are factors that make the continent exceptionally compelling for international investors and law firms. According to recent projections, Africa’s population, which currently…
The Joint Money Laundering Steering Group (JMLSG) of the United Kingdom has recently announced changes to its guidelines under Sector 22, specifically addressing cryptoasset exchange providers and custodian wallet providers. An additional inclusion to this revised guidance is Annex I, which sets out clear guidance on the U.K. Travel Rule for cryptoassets. Initially introduced under…
On September 7, 2023, the International Organisation of Securities Commissions (IOSCO) initiated a consultation on the policy proposals aimed at addressing market integrity and investor protection concerns in the realm of decentralized finance (DeFi). According to an update from Shearman & Sterling LLP, IOSCO is aiming to finalize these recommendations before the end of 2023…
In a significant development within the realm of data privacy international law, the European Commission gave official sanction to the EU-U.S. Data Privacy Framework (DPF) on July 10, 2023, by instituting an ‘adequacy decision’. In the context of the General Data Protection Regulation (GDPR), ‘adequacy decisions’ act as the primary legal instrument for the transfer…
Current events in the legal world suggest an increasing scrutiny on diversity, equity, and inclusion (DEI) commitments within law firms. These efforts, largely driven by a series of lawsuits initiated by Edward Blum, are creating a unique tension in the global legal landscape. Edward Blum, a noted anti-affirmative action activist, has been behind these lawsuits…
In an unprecedented move, Florida has passed Senate Bill 264 effecitvely restricting real estate ownership by individuals and entities from what it defines as “countries of concern”. The statute, due to go into effect on 1st July 2023, has led to a recent legal case where a Florida judge denied a summary judgment to block…
In response to the United Arab Emirates’ new corporate tax regime taking effect in financial years commencing on or after June 1, 2023, Clyde & Co has taken strategic action. The international law firm has enriched its team with the addition of a prominent tax expert, poised to navigate these regulatory changes. These measures seem…
Amnesty International and over 200 civil society organizations have urged governments participating in the 28th Conference of the Parties (COP28) to address the United Arab Emirates’ (UAE) human rights record and climate policies. COP28, an annual global conference to discuss climate policies, is scheduled to run from November 30 through December 12. The civil society…
Close to ten years ago, Mexico’s energy sector was opened up to private investment for the first time. Naturally, international companies saw the pump primed for new ventures. Among these was Swiss petrochemicals company Proman, who saw an opportunity to produce ammonia for fertilizer production in an agriculturally significant region of northwestern Mexico, leveraging Canadian…
Recently, the Washington Department of Ecology has announced the commencement of a rulemaking process to clarify a critical cost containment provision of the Climate Commitment Act (CCA). Figurehead in the state’s fight against carbon emissions, the CCA lays out the framework for Washington’s cap-and-trade program for carbon emissions. The upcoming rules target one unique aspect…
In an important judgement, the European Court of Justice has ruled in the Joined Cases C‑775/21 and C‑826/21, examining the implications of broadcasting background music and the related remuneration. The case particularly addressed the provision of physical facilities and sound equipment on board trains and aircraft, considering whether possession of technical means alone can constitute…
The Green Technical Advisory Group (GTAG), an entity guiding the UK government’s implementation of a UK Green Taxonomy, has recently released thorough advice for the upcoming legislation. Known for its primary task of helping in the development of the UK Green Taxonomy, the GTAG, which is chaired by the Green Finance Institute, have published four…
In the world of corporate law, being informed is key. That’s why many legal professionals turn to industry reports, like Foley & Lardner LLP’s Automotive Update, to stay ahead of the curve. This September, a highlighted event from the steady stream of news is the announcement that Foley & Lardner will host a half-day Automotive…
As a part of their 2023 Industry Outlook, international law firm Clark Hill PLC has provided detailed insights into the intricacies of Mexico’s automotive and manufacturing sector. This sector has been deemed crucial to the economic development and growth of the nation. A full analysis can be found at Clark Hill 2023 Automotive & Manufacturing…
Gibson Dunn & Crutcher LLP, a prominent international law firm, recently revised its criteria for diversity and inclusion scholarships. Prior mentions of these scholarships being awarded specifically to law students who identify as part of an underrepresented group have been excised from their official website. This decision seems to indicate a shift in how the…
In the face of growing concerns about cyber threats in the international business community, MGM Resorts (“MGM”) has confirmed a severe cyber-attack on its systems. The attack, which occurred on Sunday, September 10, 2023, required the corporation to halt operations at multiple Las Vegas hotels. As reported by Console and Associates, P.C. on JD Supra,…
In the ever-evolving, increasingly complex world of wealth management and financial planning, staying informed on the latest updates from legalities to AFRs (Applicable Federal Rates) and estate planning techniques is indispensable. This brief synopsis highlights some of the significant updates from September 2023. This month sees no change in the Section 7520 rate for use…
With respect to proposed legislation designed to rectify perceived loopholes in existing labour laws, regulatory eyes are keenly focused on the ‘Closing Loopholes Bill’. The bill is replete with measures that are squarely aimed at strengthening trade union representation and influence within the workplace. An interesting feature of the Bill is the mandated rights for…