In a recent landmark decision, the Singapore High Court has declared cryptocurrency as property that can be held in trust. The judgement was passed in the case of ByBit Fintech Ltd v Ho Kai Xin and others [2023] SGHC 199, making this the first instance where the Singapore courts have arrived at such a ruling….
In a significant move that aligns with global sustainability trends, the UK government announced on August 2, 2023 that it plans to establish company sustainability disclosure standards. The proposed standards will be in place by July 2024, with the aim of enhancing the comparability and value of reported information for investors. This initiative demonstrates the…
The United Nations Commission on International Trade Law (UNCITRAL) concluded its 56th session in Vienna, Austria on July 25, 2023. This influential conference brought together legal scholars and practitioners from around the globe to discuss and shape the future of international trade law. According to the information provided by legal updates publisher JD Supra, numerous…
The previous week’s litigation in London was marked by a flurry of legal activity. Law firm Hugh James instigated legal actions against Berrymans Lace Mawer LLP due to the guidance it provided to a medical group involved in a case over non-medical-grade silicone implants[1]. In more international news, Panasonic has lodged a patent claim against…
Last week, the legal scene in London was abuzz with several noteworthy cases. These included a dispute between Hugh James law firm and Berrymans Lace Mawer LLP, a patent claim by Panasonic against Chinese companies Xiaomi and Oppo, and collapsed law firm Carillion’s lawsuit against the U.K. government and three partners from PwC. Hugh James,…
Welcome to the August 2023 edition of The BR Privacy & Security Download, the digital newsletter dedicated to serving legal professionals with interest in privacy, security and data protection practices. This edition comes from the leading law firm, Blank Rome LLP. The detailed newsletter was expected to host an enlightening array of discussion points, legislative…
On July 19, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) granted a further extension for U.S. persons’ right to pursue action against collateral backing the Petróleos de Venezuela, S.A., more commonly known as PdVSA’s defaulted 2020 8.5% bonds. This decision was facilitated through General License (GL) 5L, a part…
The realm of corporate governance has been rife with key developments as of August 2023. In this summary, we will review and analyze the most notable movements, with a particular focus on their impact on corporations and law firms in the United Kingdom. For legal professionals seeking to stay abreast of such developments, clear and…
Forecasts suggest that more than 1 billion travelers headed to Europe will be impacted by the European Travel Information and Authorization System (ETIAS), anticipated to launch in 2024. This system, which requires non-European travelers, including those from the United States, to seek approval before proceeding with their travels, marks a significant change in policy for…
In the realm of operating in multiple jurisdictions, businesses grapple with the challenge of complying with pay equity regulations. Central to our discussion today are the similarities between the EU Pay Transparency Directive and a spectrum of state-level regulations and federal laws in the United States. The EU’s endeavor to ensure wage transparency seeks to…
In an intriguing turn of events in international litigation, the U.S. Supreme Court recently ruled in the case of Yegiazaryan v. Smagin (available for review here), offering a new approach for foreign plaintiffs looking to collect on arbitration awards in the U.S. By employing the Racketeer Influenced and Corrupt Organizations Act (RICO), it can indeed…
On July 26, 2023, a pivotal joint compliance note (“JCN”) was issued by the U.S. Departments of Justice, Treasury, and Commerce. The issuance of this JCN revolved around detailing the voluntary self-disclosure (“VSD”) policies concerning potential violations of U.S. sanctions regulations, export control laws, and others tied to national security. This latest development, as detailed…
The recent emergence of IFRS S1 and S2 Sustainability Disclosure Standards by the International Sustainability Standards Board (ISSB) has caused a significant shift in global sustainability discourse. ISSB, which was established by the IFRS Foundation (IFRS), launched what could be considered a worldwide baseline of disclosure standards to foster consistent and understandable notifications on risks…
Amid ongoing social unrest over a military coup that took place last week, the UK announced on Thursday that it would reduce the number of staff at its embassy in Niger. This move echoes the actions of other nations such as the United States and several European Union states, all of which have also chosen…
According to a recent report released by Human Rights Watch (HRW), Zimbabwe authorities have come under fire for their inability to guarantee a free and fair electoral process in the impending general election on August 23. The report emerged from a two-week-long investigation, involving interviews with representatives from the main opposition party, election observer groups,…
Artificial Intelligence (AI) is rapidly producing an increasing number of generative AI products that are becoming commercialized on the market. These offerings demand a balance between swift implementation, technical competencies, and significant financial and legal deliberations for corporates seeking to integrate these solutions into their existing systems. Technology providers are concurrently pushing the boundaries of…
A recent report by the Conflict Observatory flushed light upon a grievous issue. It exposed that Russia has instituted a series of laws to speed up the application process for Russian citizenship, while harshly penalizing individuals who did not apply for citizenship in Russian-occupied territories of Ukraine. The report was made public on Wednesday and…
The second day of the NILG (National Industry Liaison Group) 2023 National Conference continued the event’s momentum with treats of in-depth discussions and keynote addresses. This year’s conference held true to its reputation as the beacon of information for legal professionals in large corporations and top-notch law firms. First on the schedule was an interactive…
German authorities announced the arrest of a Syrian national on charges of war crimes and crimes against humanity, connected to a series of alleged offenses committed between 2012 and 2015. The suspect, known as ‘Ahmad H.,’ reportedly partook in extreme cases of torture, killings, and enslavement while operating as a member of a pro-government militia…
In an insightful discussion, Troutman Pepper White Collar and Legal Partner Cal Stein recently touched upon the role of the Racketeer Influenced and Corrupt Organizations Act (RICO) with regards to enforcing and collecting foreign arbitration awards. This conversation unfolds amidst a backdrop of increasing relevance and complexity in cross-border business and legal matters, warranting an…
In the world of corporate compliance, it’s not unusual to see names such as Tom Fox and Kristy Grant-Hart leading the conversation. These two top compliance commentators recently got together in a fray of fascinating dialogue on their program, 2 Gurus Talk Compliance, in an episode dedicated to exploring the intricacies of conducting ethical business…
In an unexpected turn of events, top-tier law firm Stewarts has suffered a significant 55% profit-per-equity-partner (PEP) drop, a notable contrast to the fortunes of the previous year. This unplanned occurrence goes against the upward profit trajectory that characterized the firm’s financial performance in 2022. Despite this downturn in PEP, the firm’s managing partner holds…
On July 26, the U.S. Department of Commerce, the Department of the Treasury, and the Department of Justice released an essential joint compliance notice, referred to as the “Compliance Notice.” This document updates and summarizes each agency’s stance on businesses’ voluntary self-disclosure of potential violations concerning sanctions, export controls, and other national security laws. According…
In recent years across the globe, the realm of immigration law has seen significant shifts and adjustments, a trend that continues well into 2023. Focused through the lens of the ongoing global pandemic, many changes are occurring in both mobility restrictions and ongoing closures. These are addressed in August 2023 Global Immigration Alert, provided by…
A federal judge in California has halted a Los Angeles tattoo ink dealer from selling ink bottles, amidst claims that the products bear too much resemblance to those of a New Jersey company. The dealer, who is the purveyor of the “Xtreme Ink” brand, has been criticized by the court for not mounting a stronger…