On 1 June 2021, HM Treasury announced that the current exemption for UCITS funds from the requirements of the Packaged Retail Investment and Insurance-based Products (PRIIPs) Regulation will be extended by five years to 31 December 2026. HM Treasury intends
International
EBA and ESMA publish provisional list of instruments and funds for the smallest investment firms under the Investment Firms Regulation
On 31 May 2021, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) jointly published a provisional list of additional instruments and funds that Member State competent authorities may allow to use as own funds for…
FSB seeks feedback on its proposals for quantitative targets for enhancing cross-border payments
On 31 May 2021, the Financial Stability Board (FSB) issued a consultative document regarding targets for addressing the four challenges of cross-border payments – cost, speed, transparency and access. The FSB explains that these targets are a foundational step in…
FCA updates webpage on how to apply for authorisation
On 1 June 2021, the FCA updated its webpage concerning how to apply for authorisation.
The FCA has added a new section titled “Change of legal status” which provides:
“If you change your firm’s legal status you will need to…
BEST MODE: Noncompliance with the Duty of Disclosure is Not an Option
When you apply for a patent in the United States, you have a legal duty to disclose prior art that could be used to reject your application — in essence, information that may be used against you by the examiner…
A Proposed Global Minimum Corporate Income Tax Rate
In mid-May, the Biden Administration officially threw its support behind a minimum global corporate income tax rate of at least 15%. The US proposal would be limited to the world’s 100 largest companies – those with revenues of over $20…
USTR Announces Section 301 Tariffs in Retaliation for Digital Service Taxes by Six Countries but Suspends Implementation While Negotiations Continue
On June 2, 2021, the office of the U.S. Trade Representative (USTR) announced the conclusion of its Section 301 investigations of Digital Service Taxes (DSTs) that have been adopted by Austria, India, Italy, Spain, Turkey and the United Kingdom. For…
Harris Bricken Recognized in Chambers USA 2021 Guide
Chambers and Partners, a London-headquartered research company that publishes detailed rankings of the world’s leading law firms and lawyers, recently named Harris Bricken one of the top cannabis law firms in the United States and singled out two of our…
The Disappearance of the Service Contract in Ocean Shipping and Resurgence of Ocean Tramp Practices
The below e-mail recently received by the author paints the picture we are seeing a thousand fold in the current ocean shipping marketplace in the inbound/outbound Asia trade lanes which underscores the serious disconnect currently between ocean common carriers and…
Is the failure to enhance shared parental leave pay discriminatory when adoption leave pay is enhanced?
In the case of Price v Powys County Council, the Employment Appeal Tribunal have upheld the tribunal’s decision that there is no sex discrimination where an employer pays a man on shared parental leave less than a woman on adoption…