News & Analysis as of September 21, 2024

European Union › Trustees

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Pensions: what's new this week - 11 March 2024

A&O Shearman on 3/11/2024

Welcome to your weekly update from the Allen & Overy Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. This week we cover the following topics: Spring Budget...more

Pensions: DC trustee agenda update - February 2024

A&O Shearman on 1/22/2024

Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings, and to support the legal update item on your next...more

Make No Mistake: Examining the Hastings-Bass Rule on Fiduciaries’ Mistakes Under Cayman Islands Law

Conyers on 5/10/2023

The Cayman Islands reformed its trust laws to provide a statutory mechanism by which ﬂawed decisions of trustees and other ﬁduciaries can be set aside on application to the court. The codiﬁcation of the Hastings‑Bass rule...more

International News: Spotlight on Tax

McDermott Will & Emery on 5/5/2022

INTRODUCTION TO US TAXATION OF NFTS - Despite Non Fungible Token (NFT) sales hitting nearly US$21 billion by the end of 2021, making NFTs almost as valuable as the global art market, they are currently completely ignored...more

Brexit’s Impact on UK-Based Charities

McDermott Will & Emery on 3/18/2021

The past year has hit many nonprofit organisations registered in England and Wales particularly hard because of both the COVID-19 pandemic and Brexit. Funding from European sources may have been reduced or withdrawn, and many...more

[Webinar] International Tax Transparency Update - November 18th, 3:00 pm GMT

McDermott Will & Emery on 11/16/2020

Our International Tax Transparency Update will cover DAC6, the UK’s Trust Registration Service and other global registration requirements that may be relevant for businesses. The importance of these requirements cannot be...more

Offshore Roundup

McDermott Will & Emery on 9/23/2020

Two Birds, One Stone: Addressing COO and DAC6 Risks in Tandem - UK Criminal Finances Act 2017 (CFA) and the EU Directive on Administrative Cooperation (DAC6) compliance matters are likely to come under increased scrutiny...more

[Webinar] Trust & Estate Controversy Virtual Forum | Offshore Roundup - September 24th, 12:00 pm - 1:00 pm EDT

McDermott Will & Emery on 9/22/2020

Sarah Gabbai, Nicholas Holland, Lynsey McIntyre and Ziva Robertson will discuss recent vital regulatory and jurisprudential developments for international fiduciaries. The panel will discuss: - Reporting obligations...more

2019 Year in Review: Securitization Litigation and Regulation

Cadwalader, Wickersham & Taft LLP on 1/30/2020

There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect. A...more

The General Data Protection Regulation (GDPR): action plan for pension scheme trustees - (revised March 2018)

Hogan Lovells on 3/12/2018

The European General Data Protection Regulation (GDPR) will apply directly in the UK from 25 May 2018, and will make some fundamental changes to the current requirements surrounding data protection. Key areas of change...more

HMRC's Online Register of Trusts: Why You May Need to Take Action Now

Womble Bond Dickinson on 1/31/2018

If you are the trustee of a non-UK trust which has UK assets or UK sources of income, you need to take action before 5 March 2018 or face potential civil and even criminal penalties. The EU's Fourth Anti-Money Laundering...more

In Principle: 10 Things Authorised Firms Need to Know for 2018 – The World of Financial Regulation as the UK Prepares to Exit the...

Akin Gump Strauss Hauer & Feld LLP on 1/25/2018

There is much for authorised firms to consider in the year ahead. Firms have been through the intensive period of the enactment of the second Markets in Financial Instruments Directive (MiFID II), but must now step up their...more

The UK Trust Register

McDermott Will & Emery on 10/16/2017

On 26 June 2017, the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Regulations) came into force, introducing new requirements for trustees. The Regulations...more

For your DC trustee agenda: current legal issues

A&O Shearman on 9/27/2017

Prepare for GDPR compliance UPDATED! - New data protection rules will apply from 25 May 2018 under the General Data Protection Regulation. GDPR preparation will be a significant issue, requiring a wide-ranging review of...more

The German Transparency Register is coming: New obligations for legal entities in Germany to disclose beneficial ownership...

Dechert LLP on 8/23/2017

Highlights - - Implementation of a public Transparency Register on beneficial ownership of legal entities. - Notification obligation applies to incorporated companies and certain other legal entities and arrangements;...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 7/18/2016

Federal Reserve Announces Extension of Conformance Period under Section 13 of the Bank Holding Company Act - On July 7, 2016, the Federal Reserve announced that it will extend until July 21, 2017 the conformance period...more

Corporate Trustees: how gross must negligence be?

Bryan Cave Leighton Paisner on 4/6/2016

Surprisingly, the distinction between negligence and gross negligence in English contract and trust law is unclear. On one view, reflected in the older cases, there is little or no difference at all....more

Court of Appeal case - of interest to Security Trustees

Bryan Cave Leighton Paisner on 3/16/2016

Including an unsecured creditor in an agreed payments waterfall does not by itself confer on that unsecured creditor the benefit of a mortgagee’s usual duties on enforcement of security, or a direct claim against the sale...more

The EU Court of Justice Brings to an End Odile Jacob’s Fight Against Lagardère’s Purchase of Vivendi Universal Publishing

McDermott Will & Emery on 2/1/2016

By its judgment of 28 January 2016 (C-514/14 P, Editions Odile Jacob SAS v Commission), the European Court of Justice (Court) upheld the General Court of the European Union’s (GCEU) ruling with respect to each of the grounds...more

UK Action Plan for Greater Transparency Relating to Company Ownership

McDermott Will & Emery on 6/24/2013

On 18 June 2013, the UK Government published a policy paper setting out the steps it proposes to take to implement the Financial Action Task Force’s revised standards on combating money laundering....more

Takeover Code Amendments Extend the Rights of Pension Scheme Trustees

Morgan Lewis on 4/30/2013

Amendments include new requirements regarding offerors' intentions, documents provided to trustees, trustees' opinions on offers, and publication of agreements between offerors and trustees....more

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