Le 16 décembre 2024, le ministère fédéral des Finances a publié l’Énoncé économique de l’automne de 2024 (l’« ÉÉA de 2024 »), lequel fait suite aux mesures annoncées précédemment par le gouvernement fédéral dans l’Énoncé...more
On December 16, 2024, the Department of Finance published the 2024 Fall Economic Statement (FES). The FES builds on the federal government’s earlier announcements in the 2023 Fall Economic Statement, as discussed in our...more
On 22 November 2024, the Department of Finance ("DoF") launched its public consultation on the exercise of the national discretions in Directive (EU) 2024/927 amending AIFMD (2011/61/EU) and the UCITS Directive (2009/65/EC),...more
On October 29, 2024, the Canada Revenue Agency (CRA) announced that bare trusts are once again exempt from filing the T3 Income Tax and Information Return (including Schedule 15 regarding beneficial ownership information of a...more
Le 12 août 2024, la ministre des Finances a lancé une consultation publique visant à recueillir des commentaires sur les mesures proposées afin de réviser le cadre réglementaire du Canada qui s’applique aux institutions...more
On August 12, 2024, the Department of Finance released its Consultation on Proposals to Strengthen Canada’s Financial Sector, the third phase of the federal government’s ongoing review of Canada’s financial institutions laws....more
On August 12, 2024, the Department of Finance launched a public consultation seeking views on proposed measures to update Canada’s regulatory framework for financial institutions. This consultation marks the third phase of...more
On May 30, 2024, the New York Department of Financial Services (DFS) published a press release and issued guidance to Virtual Currency Entities (VCEs) concerning the DFS’s expectations for the resolution of customer service...more
It is usually no surprise to companies operating in the financial services space that they may need a state license to make or service consumer loans. That is particularly true when the loans are highly regulated residential...more
Hosted by the Canadian Institute, the 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime returns for another exciting year. The event features carefully curated programming providing practical guidance...more
The Minister for Finance on 21 December 2023 published a Progress Update on the review underway of the funds sector in Ireland (the “Review”). As part of the Review, a public consultation took place over the summer with the...more
On January 3, the Idaho Department of Finance published a bulletin on proposed rule changes to Vol. 23-10 of the Idaho Administrative Bulletin, specifically to section 12.01.10 – Rules Pursuant to The Idaho Residential...more
A national study released in 2015 reported that “nearly half the residential purchases of over $5 million were made by shell companies rather than named people.”[ii] Because shell companies could often be formed without...more
On November 21, 2023, the Department of Finance of Canada released its Fall Economic Statement (the “Economic Statement”). The Economic Statement proposes updates to certain measures to grow Canada’s clean economy previously...more
On November 21, 2023, the Canadian Department of Finance (“Finance”) released its 2023 Fall Economic Statement (“FES 2023”). The focus of FES 2023 was on affordability measures, particularly with respect to housing. New...more
The Canadian Department of Finance introduced draft legislation in the 2023 Canadian Federal Budget (Budget 2023) to create employee ownership trusts (EOTs) to facilitate the transfer of a business to the employees of the...more
The Canadian Government released its Fall Economic Statement (“FES 2023”) on November 21, 2023 outlining the government’s fiscal update. FES 2023 focuses on housing, affordability, and fighting climate change. However, buried...more
On October 5, 2023, the Department of Finance (Canada) launched a public consultation as part of its periodic review of the key statutes governing federally-regulated financial institutions: the Bank Act, the Insurance...more
The New York City Department of Finance requires that properties receiving benefits under the Industrial Commercial Incentive Program (ICIP) file a Certificate of Continuing Use (CCU) to renew the real estate benefits for the...more
As an incentive to builders to create more rental housing units, the federal government has announced the effective elimination of the goods and services tax (GST) payable on newly constructed rental housing, such as...more
California employers, prepare for another state-wide minimum wage hike. Starting January 1, 2024, all California employers, regardless of size, must pay a minimum wage of at least $16 per hour. The increase came as a...more
The California Department of Finance recently notified the state's governor and legislative leaders that current economic conditions require an increase of the state's minimum wage from $15.50 per hour to $16 per hour for all...more
The Department of Finance (Finance) released draft tax legislation for public consultation on August 4, 2023, with a stated focus on promoting tax fairness and a clean economy. The most significant item released is the...more
On August 4, 2023, the Department of Finance of Canada released significant legislative proposals relating to the federal government’s proposed measures to grow Canada’s clean economy. The release includes the draft...more
On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank, Santa Clara, California (“SVB”) and subsequently appointed the Federal Deposit Insurance Corporation (“FDIC”) as...more