Compliance Perspectives: Due Diligence and Ultimate Beneficial Ownership (UBO)
Axiom Law: BigLaw's Friend or Enemy?
Personal goodwill refers to the reputation, relationships, and other intangible assets directly attributable to an individual professional rather than the business entity itself. It is especially relevant for professional...more
Changes to the beneficial ownership regime took effect on 31 July 2024 and enforcement relating to the new requirements is suspended until early 2025. Many entities that previously had few or no obligations will have to...more
With so much focus on the regulatory treatment (and mistreatment) of blockchain related businesses, the benefits of commercial legal certainty for choosing a country or territory as a home of choice for these businesses is...more
24 In this article, we delve into the intricacies of valuing individual legal entities as part of a legal entity rationalization, exploring some of the key considerations that must be considered to prepare a robust and...more
The legislation allows decentralized autonomous organizations to gain legal entity status and operate within the bounds of applicable law. ...more
Isn’t it interesting that success is built into business succession. Still, most US companies do not have a business succession plan in place. What is business succession planning and how does it enhance your own success and...more
Heads of legal entities, founders (participants) of legal entities, individual entrepreneurs, and their spouses are now obligated to submit declarations on assets and liabilities as of 1 January. The obligation to submit...more
As of Jan. 1, 2024, wide-reaching new regulations require many businesses and corporate entities created or registered to do business in the United States to report information regarding their owners, officers and other...more
Pursuant to the adoption of comprehensive revisions to the U.S. anti-money laundering statutes as part of the Defense Appropriations Act of 2021 (the “Defense Act”), on September 30, 2022, the Financial Crimes Enforcement...more
Key Points - The Corporate Transparency Act (the “CTA”), implemented primarily through a rule published by FinCEN on September 30, 2022, the Beneficial Ownership Information Reporting Rule (“BOIR Rule”), becomes effective...more
The Background: On November 15, 2023, the Temporary Fast-Track Liquidation Transparency Act (Tijdelijke Wet Transparantie Turboliquidatie) (the "Act") came into force in the Netherlands, temporarily changing certain statutory...more
Determining the TBU at the start of the social elections process. The 2024 social elections are scheduled for 13-26 May, when workers will elect their representatives on the works council and the health and safety...more
Beginning on January 1, 2024, many U.S. legal entities and foreign entities registered to do business in the U.S. will be required to report information about themselves, their beneficial owners, and their company applicants...more
On July 26, 2023, the CFTC approved a proposal to amend the margin regulations for uncleared swaps (the “Proposed Amendments”). The Proposed Amendments, if finalized, would relieve registered swap dealers and major swap...more
The Arkansas General Assembly adjourned from its 94th Regular Session on May 1, 2023, starting a 90-day clock until acts passed by the General Assembly become the law of Arkansas. Business owners, professionals and...more
Before founders can kick-start operations, bring in customers, or engage investors, they are advised to create a legal entity to pursue such milestones. Establishing a legal entity serves several key purposes: the founder can...more
New crypto legislation is skiing down Utah’s silicon slopes. On March 13, 2023, the Utah Decentralized Autonomous Organizations Act was signed into law, taking effect on January 1, 2024. While other states such as...more
For Americans and other foreign residents, Mexico is a very attractive country to live and work, because of its weather, rich culture, delicious food, friendly locals, and cost of living. And in an increasingly global...more
Seven years ago, Ethereum launched and became the predominant blockchain for developers to build decentralized applications powered by smart contracts (dApps). By leveraging Ethereum's smart-contract compatibility, developers...more
On May 2, 2022, a putative class action was filed against a decentralized autonomous organization (DAO) and its members seeking to recover $55 million in cryptocurrency losses stolen during a hack into the DAO’s decentralized...more
Pursuant to the adoption of comprehensive revisions to the U.S. anti-money laundering statutes as part of the Defense Appropriations Act of 2021 (the “Defense Act”), on December 8, 2021, the Financial Crimes Enforcement...more
The unprecedented speed of the collapse of the former Afghan central government is a humanitarian tragedy. The magnitude of which is rightfully distracting from the immediate near-term and long-term legal issues that those...more
While streaming has taken off as a new entertainment vertical, particularly during the pandemic, streamers face many challenges. When streamers take time off from their regular broadcast schedules, they lose viewers and...more
Insurers whose mix of assets and liabilities might make it attractive to split into a “good bank” and “bad bank” should monitor a recent model law passed by an influential body of state legislators. On May 3, the National...more
A recent procurement made me think of The Who song (you guessed it!) “Who Are You”. It also reminded me that it may be worthwhile to remind contractors about some of the basic rules of bidding (or, as I like to call them,...more