Episode 319 -- Deep Dive into SCG Plastics' $20 Million Settlement with OFAC for Violations of the Iran Sanctions Program
Jones Day Talks: Italy Embraces Foreign investment but Maintains Oversight
Jones Day Talks: Doing Deals Down Under: Australia's Foreign Direct Investment Regime
FCPA Compliance and Ethics Report-Episode 66-Visit with the FCPA Professor
Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued a decision earlier this year that had the effect of recognizing under Chapter 15 of the U.S. Bankruptcy Code an English Scheme of...more
Legal processes involving foreign entities in the Cayman Islands are governed by the civil procedure rules of the jurisdiction where the claim was filed. We strongly recommend that clients familiarize themselves with the...more
We are seeing an increasing number of enquiries from lenders and their advisors in respect of the practicalities of enforcement by receivers of English security granted by overseas entities. Real estate property transactions...more
One of the primary concerns for an organization that wants to start conducting business in a new country must be the laws of the specific country. Employment regulations vary widely from country to country and may be so...more
The Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal Assent on 26 October 2023, with the provisions of ECCTA to be brought in by secondary legislation in stages throughout 2024 and 2025....more
On 6 December, HMRC updated the section in its International Manual discussing the UK tax characterisation of overseas entities, and of Delaware (and other US) limited liability companies (LLCs) in particular (in INTM180000...more
What do overseas entitles dealing with UK property have to have on their radar right now? The main thing may well be complying with the updating duty under the Economic Crime (Transparency and Enforcement) Act 2022....more
The Economic Crime (Transparency and Enforcement) Act 2022 (the Act) requires overseas entities that own, or wish to acquire, certain real estate in the UK (a Qualifying Estate) to register with Companies House and to provide...more
The U.K. Prudential Regulation Authority is consulting on a proposed rule and policy changes relating to the establishment and maintenance of third-country branches and subsidiaries within ring-fenced banking groups. The...more
On 2 August 2023, the Register of Overseas Entities (ROE) update process went live. UK Companies House issued guidance on the requirements overseas entities will have to adhere to in their annual update of the ROE. Our...more
The deadline for registration as an Overseas Entity is fast approaching and by 31 January 2023, all qualifying overseas entities, who own freehold land or property in the UK (or leasehold land of more than seven years), must...more
In February 2022, the UK Government published the Corporate Transparency and Register Reform White Paper (the “White Paper”), which set out its plans to reform Companies House and increase the transparency of UK corporate...more
Overseas entities that own or lease UK real estate must register at Companies House by January 31, 2023. Failure to comply with the Act will expose the overseas entity and its officers to criminal sanctions and could...more
The Economic Crime (Transparency and Enforcement) Act 2022 (“Act”) introduces new measures to tackle illicit wealth in the UK property market. The Act is comprised of three parts and Part 1 of the Act (“Part 1”), which became...more
On 16 December 2022, the European Union (EU) adopted a ninth package of sanctions against Russia. These impose an asset freeze on almost 200 additional individuals and entities pursuant to Council Regulation No. 269/20141...more
On 15 December 2022 the United Kingdom announced its latest expansion of sanctions against Russia. New prohibitions were added relating to trust services, and professional and business services, and existing restrictions...more
On 22 September 2022, the U.K. government introduced the Economic Crime and Corporate Transparency Act 2022. The new bill is currently navigating its way through the U.K. Parliament and is likely to receive royal assent in...more
The UK government has proposed new registration requirements for foreign influence activities in the UK as part of its attempts to strengthen the resilience of the UK’s political system and democratic institutions against...more
The Economic Crime (Transparency and Enforcement) Act 2022 (the "ECTEA") has been introduced as part of the government’s strategy against overseas criminals who launder money through UK real estate...more
The Economic Crime (Transparency and Enforcement) Act 2022 (the “ECA”) came into force on 1 August 2022 and places new obligations on overseas entities holding real estate in the United Kingdom. Pursuant to the ECA, all...more
1. What is the new legislation? The Economic Crime (Transparency and Enforcement) Act 2022 (“the Act”) introduced a new Register of Overseas Entities (“the Register”) at Companies House for overseas entities which own...more
Welcome to the latest edition of Overriding Interest. Inside this issue: - New Joiners - Articles of Interest & Firm News - Events - Pro Bono Update - Case Reports ...more
On 1 August 2022, a new Register of Overseas Entities (ROE) was launched at Companies House pursuant to the Economic Crime (Transparency and Enforcement) Act 2022 (ECTEA). In a nutshell, any overseas entity wishing to buy,...more
Summary We have previously informed you about the new Economic Crime (Transparency and Enforcement) Act 2022 (ECTEA). During the summer (12 July 2022), the government announced that the new Register of Overseas Entities...more