The Corporate Transparency Act imposes new reporting requirements on certain businesses as of January 1, 2024.

The Corporate Transparency Act is a federal law aimed at promoting transparency in the ownership of certain entities and preventing money laundering and illicit financial activities. Under this law, the entities described below must report certain information to the Financial Crimes Enforcement Network (FinCEN) regarding their Beneficial Owners and Company Applicant(s), as defined below. Who […]

Read more

China’s capital city is opening a robotaxi route to a major train station, startup Pony.ai says

This month, the city began allowing tests of robotaxis with human staff inside to run the 40-minute route between a major high-speed train station and a suburban area to its south. By the end of this year or early next year, that train station route will likely be fully driverless, with no human staff inside.

Read more

U.S. Whistleblower Program Expands to Non-U.S. Citizens

New Classes of Whistleblowers In December 2022, the U.S. Congress included the Anti-Money Laundering Whistleblower Improvement Act (‘AMLIA’) as part of the Omnibus Budget for that year.1 The Act introduces new incentivization measures to encourage reporting information about the financial crimes of money laundering and sanctions evasion. The Act includes drastic new measures to expand […]

Read more

Capital Gains Growing Pains

As of June 25, 2024, significant changes to the capital gains tax will impact many Canadian individuals, corporations and trusts. We understand the importance of staying ahead in the ever-evolving financial landscape – that’s why we’re dedicated to providing our clients with the resources they need to navigate these changes confidently. Whether you’re selling stocks, […]

Read more

How Has the 2024 Right to Work Checks Guidance Impacted the Care Sector?

Migrant workers are a crucial part of the care sector within England and Wales and with the increasing demand on social care due to the UK’s ageing population, migrant workers are likely to be an ever-increasing part of the sector. As such it is important to remain up to date with the recent changes to […]

Read more

Parallel Debt and Security Agent Concepts under Turkish Law

English law is commonly preferred by financial market participants due to well-established regulations and market practices in finance transactions such as project finance, syndicated loans, secured bond issuances. However, the legal system of our country which is a part of the continental European legal system, cannot find exact equivalents used by the English legal system, […]

Read more

The Ministry of Electronic and Information Technology Advisory on AI

The Ministry of Electronic and Information Technology (“MeitY”) issued an advisory on 1st March 2024, highlighting the failure of the intermediaries and their platforms to take up necessary due diligence as required under Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“Rules”) and suggested measures, as provided below, need to be undertaken […]

Read more

Processing Fee for Business LoansBank Must Refund Processing Fee After Berlin Court Ruling

An Immobiliengesellschaft (real estate company) paid around €39,000 in processing fees to a bank for taking out a loan. According to a decision by the Berlin Court of Appeal (Kammergericht Berlin) on October 30, 2023, the bank must refund the processing fee because the payment of these fees was not effectively agreed upon (Case No. […]

Read more