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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

MALTA - ICOs THE NEW LEGISLATION

August 2018 - TMT ( Technology, Media & Telecoms). Legal Developments by Kinanis LLC.

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A. INTRODUCTION

Initial Coin Offering, known as “ICO”, is a relatively new phenomenon that has quickly become the main player in the Financial Services and Crowdfunding industries, as well as being the key subject of discussion in the Blockchain communities. In essence, it is one of the most advanced methods of raising finance from the public and is becoming increasingly popular to fundraise start-ups.

While all jurisdictions are shying away from regulating this industry, Malta has recently introduced a specific regulatory framework for ICOs and has become the first jurisdiction worldwide to regulate ICOs and Blockchain Technology.

This publication in fact seeks to give an overview of the recent laws and regulations relating to ICOs.

MALTA - VIRTUAL FINANCIAL ASSET SERVICES THE NEW LEGISLATION

August 2018 - Finance. Legal Developments by Kinanis LLC.

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A. INTRODUCTION

Blockchain technology has revolutionized the way of doing business globally. In fact, similar to Investment Services, a number of ancillary business activities are now connected to the industry, ejecting the Blockchain technology to endless fields of everyday life.

Instead of shying away from the technological challenge, the Maltese government has adopted legislation that regulates the offering of certain services (known as Virtual Financial Asset Services) to cryptocurrencies, which includes the operation of platforms to exchange such cryptocurrencies, portfolio management and providing investment advice amongst others. This makes Malta a pioneer in this sector and offers legal certainty, to such an extent that following such a commitment from the Government, crypto-giants are already relocating to Malta, seeking to benefit from a regulated environment and a beneficial tax rate.

Employers face claims by MBIE for holiday pay non-compliance

August 2018 - Employment. Legal Developments by Bell Gully.

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The widespread problems relating to compliance with the Holidays Act 2003 have recently hit the headlines again.  

Insider trading laws - clarity for the market

August 2018 - Corporate and commercial. Legal Developments by Bell Gully.

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​New regulations will finally clarify that in most cases insider trading rules do not apply to a new issue of financial products.

OIO residential land amendments delayed

August 2018 - Real estate. Legal Developments by Bell Gully.

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The date for the Select Committee to report to Parliament on the Overseas Investment Amendment Bill (the Bill) has been extended to 21 June 2018. The Select Committee's report was previously anticipated on 31 May 2018. This delay is unsurprising given the substantial number of submissions to the Select Committee, and it is encouraging to see the Select Committee taking more time to work through the potential unintended consequences for businesses from the Bill. 

Australian class action reform: implications for New Zealand

August 2018 - Litigation & Dispute Resolution. Legal Developments by Bell Gully.

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On 31 May 2018, the Australian Law Reform Commission (ALRC) released a discussion paper​​ as part of its inquiry into class action proceedings and third-party litigation funders.

Zero Carbon Bill update: discussion document seeks public feedback

August 2018 - Projects, Energy & Natural Resources. Legal Developments by Bell Gully.

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Public consultation that could have far-reaching implications for business is underway on the Government's proposed Zero Carbon Bill, following the release of a Discussion Document by the Ministry for the Environment. There is currently no draft bill; the Discussion Document seeks feedback on key questions of policy and systems architecture that will underpin the legislative regime. This is an early opportunity for those affected to have their say on the Government's approach to some fundamental questions as it seeks to transition New Zealand to a net zero emissions economy. Consultation closes at 5pm on 19 July 2018.

New leniency for foreign buyers in Overseas Investment Act overhaul but redraft raises fresh issues

July 2018 - Employment. Legal Developments by Bell Gully.

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A select committee report on changes to overseas investment rules has proposed relaxing some of the planned restrictions on foreign buyers which could have hindered development, but the amendments raise a number of new issues that require close examination.

Cautious Optimism on 100 per cent Foreign Ownership

July 2018 - Corporate & Commercial. Legal Developments by Afridi & Angell.

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Recent media reports have suggested that 100 per cent foreign ownership of companies in the UAE will now be permitted. The reports are based on a government press release regarding a UAE Federal Cabinet (Cabinet) meeting held on 20 May 2018.

Double tax agreement interpretation in the spotlight again – Court of Appeal reverses foreign tax

July 2018 - Litigation & Dispute Resolution. Legal Developments by Bell Gully.

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​​​The correct interpretation of New Zealand's double tax agreements (DTAs) is once again in the spotlight after a recent Court of Appeal decision treats them in the same way as private contracts. Previously, local and international rulings suggested the international context and purposes of ​such treaties should be taken into account.​