In January 2019, a significant legal development surfaced in Luxembourg, marking a notable advancement in corporate transparency and accountability. A law was established that called for the formation of the Luxembourg Register of Beneficial Owners (Registre des Bénéficiaires Effectifs, or RBE). Its purpose was clear and decisive – to drive a higher level of disclosure…
In recent legal news, discussion is being held surrounding fresh developments on remote working and the implementation of a conventional termination process. The team at Hogan Lovells has given a brief revisit on the matter of remote work, now taking into account the characterization of a workplace accident during teleworking. They discuss the complexities of…
International ocean shipping has undergone several notable changes in the wake of the Ocean Shipping Reform Act of 2022 (OSRA). Enacted last year, the OSRA serves as a response from U.S. Congress to empower the Federal Maritime Commission (FMC), equipping it with the necessary authority to address particular ocean transportation vulnerabilities. These vulnerabilities became significantly…
In a recent decision that did not come as a total surprise, Judge J. Campbell Barker of the U.S. District Court for the Eastern District of Texas revoked the Consumer Financial Protection Bureau’s (CFPB) revised Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) exam manual. The contentious manual had introduced an innovative legal concept aimed…
The aftermath of the Spring 2023 bank failures, which sent shockwaves through the global market, has sparked an intense policy debate about the federal banking agencies’ responsibility and actions. A growing chorus of voices is questioning if enough was done to mitigate the disaster by these agencies. The heart of the controversy lies not only…
News from September 27, 2023, indicated the United States Department of Commerce’s Office of Antiboycott Compliance, a section within the Bureau of Industry and Security (“BIS”), delivering a relatively infrequent and striking enforcement action. The target of their strike was defense titan Pratt & Whitney (“P&W”) whom they charged with intentionally disregarding antiboycott regulations outlined…
In a recent conversation with geopolitical risk intelligence expert, Dr. Ian Oxnevad, critical insights about Russia and potential prospects for rebuilding Ukraine were elucidated. Dr. Oxnevad, in his capacity as the Director of Geopolitical Risk Intelligence at Infortal Worldwide, has built a reputation for his profound understanding of the global landscape, thanks to his academic…
On August 9, 2023, the U.S. Environmental Protection Agency (EPA) introduced an updated Air Emissions Reporting Rule (Updated AERR) with significant implications on myriad businesses. The comment period for the proposed AERR runs until October 18, 2023, presenting an opportunity for legal professionals and their corporations or firms to partake and potentially influence the trajectory…
Early indications from the Consumer Financial Protection Bureau (CFPB) suggest a pending expansion of the Fair Credit Reporting Act’s (FCRA) breadth, which could potentially affect numerous businesses previously outside its purview. The CFPB’s Director, Rohit Chopra, announced this development at a recent White House roundtable. According to Director Chopra, the CFPB plans to promulgate new…
It has been revealed that the IRS plans to implement artificial intelligence (AI) in its audit selection process, targeting high-income individuals, partnerships, and corporations. The announcement came as part of a broader initiative, funded by the Inflation Reduction Act, focusing on numerous subjects including cryptocurrencies, foreign bank account reporting (FBAR) compliance, and deceptive practices, among…
As antitrust cases against prominent tech giants continue to shape the forefront of legal discussions, the recently initiated case of the U.S. Department of Justice and multiple states against Google stands out. The tech giant is accused of unlawfully monopolizing the internet search and digital advertising landscapes. The case was opened in Washington on a…
In a momentous decision dated August 24, 2023 by the Bundesarbeitsgericht (BAG), Germany’s Federal Labor Court, the expectation of universal confidentiality in WhatsApp chats was scrutinized. The court was tasked with determining the extent to which comments made in private WhatsApp chat groups could constitute grounds for issuing an (extraordinary immediate) dismissal. This decision comes…
The much-anticipated Global 200 rankings for the world’s largest law firms are about to be unveiled. Law.com International’s editors are in the process of organizing a webinar to delve into the report’s findings. This upcoming analysis comes hot on the heels of an impressive round of results in 2022. The forthcoming report will explore prevailing…
International law firm Mayer Brown has welcomed Allison Lee as a new partner to its Hong Kong office, according to recent reports. Lee, who has a distinguished 15-year tenure with Debevoise & Plimpton, most recently served as its international counsel. Lee’s entry into Mayer Brown comes with a wealth of experience advising public and private…
In a significant ruling, a New York federal judge decided on Tuesday that the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is not required to disclose to a law firm the sanction-related information concerning charities that the U.S. government had associated with Hamas. The judge justified the decision, stating the OFAC had adequately…
Norton Rose Fulbright, leading global law firm, has selected esteemed class action litigator Jennifer Teskey as its new Canadian Managing Partner. Teskey will assume the role on January 1, taking over from current Managing Partner, Charles Hurdon. Teskey brings with her an impressive record of legal work, particularly in class action litigation. This move is…
In a recent judgment, the Dubai International Financial Centre (DIFC) Court of Appeal provided essential guidance on common issues that arise in construction disputes. The case in question is Panther Real Estate Development LLC v Modern Executive Systems Contracting LLC [2022] DIFC CA 016. Two central issues were addressed in this judgment: a) the implications…
In a recent episode of Private Market Talks, Kickstarter interviews Kevin Foley, the Global Head of Debt Capital Markets for J.P. Morgan, the world’s largest bank. This insightful conversation forms the start of the podcast’s second season. JD Supra offers a comprehensive dialogue overview. J.P. Morgan is a formidable force across financial markets, and with…
In today’s interconnected global business environment, relationship marketing has emerged as a crucial strategy for legal professionals seeking to grow and refine their practices. This is not just a fleeting trend, rather a shift towards a more sophisticated, strategic approach to relationship management that could be pivotal to the future of legal practice. As highlighted…
The upcoming changes to crypto marketing rules in the UK are set to come into effect from the 8th of October, 2023. Notably, these new rules will apply regardless of the location of the issuer, extending even to crypto businesses and issuers based outside of the UK. Starting from this date, anyone who makes a…
In an unprecedented move, P. Latombe, a Member of the French Parliament and a member of the French Data Protection Authority (CNIL)’s Commission, has initiated a request for annulment against the EU-US Data Privacy Framework (DPF). The petition took form on September 6, 2023, with proceedings directed to the Court of Justice of the European…
Effective June 2, 2023, a significant regulation update comes into effect which will alter federal contracts and solicitation requirements. All such contracts are required to include the Federal Acquisition Regulation (FAR) clause: FAR 52.204-27, titled “Prohibition on a ByteDance Covered Application”. This clause is a concrete implementation of Section 102 of Division R of the…
Legal professionals may be interested in a notice on future significant legislative development — the “Build America, Buy America” Act, also known as BABA, contained within the Infrastructure Investment and Jobs Act. Signed into law on November 15, 2021, by President Biden, the act is scheduled to become effective from October 23, 2023. The Infrastructure…
Highly esteemed attorney Gabriel Yomi Dabiri, having taken up the position of Office Managing Partner at international law firm Polsinelli, shares his insights into effective leadership in the legal industry. Dabiri asserts that the finest leaders he has encountered exhibit a quality of curiosity and the illness of presumption. Specifically, he warns against assuming greater…
Sanctions and the specific systems businesses have in place to ensure compliance are once again gaining attention. This renewed focus follows the recent guidance put forth by the UK Financial Conduct Authority. This surge in focus has implications not just for legal frameworks but also puts a spotlight on recent decisions from courts and various…