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K2 Integrity

FATF Highlights Importance Of Conducting VA/VASP National Risk Assessments In Latest Targeted Update Report

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FATF’s latest Targeted Update Report on Implementation of the FATF Standards on VAs and VASPs stresses that many jurisdictions continue to struggle with the fundamentals of virtual asset regulation, including undertaking risk...more

White & Case LLP

The Delaware General Assembly to the Rescue: Proposed Legislative Fixes to Uncertainty Created by Three Significant Delaware...

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Summary - On March 28, 2024 the Council of the Corporation Law Section of the Delaware State Bar Association released a set of proposed amendments to the Delaware General Corporation Law (the "DGCL"). The proposed...more

Wilson Sonsini Goodrich & Rosati

Recent Delaware Law Developments and Proposed Legislative Responses

The last several months have marked an extremely busy time in Delaware corporate law, with regard to decisions out of the Delaware courts, proposed legislative responses, and shifting market practices. In recent weeks in...more

Skadden, Arps, Slate, Meagher & Flom LLP

Broad Reforms to China’s Company Law Will Affect Most PRC Companies

On December 29, 2023, China enacted the amended Company Law of the People’s Republic of China (Amended PRC Company Law), which will come into effect on July 1, 2024. These are some of the most significant changes to the laws...more

Goodwin

Sunset on (some) Stamp Taxes: HMRC confirms 1.5% charge on issuance and capital raising transfers to depositary receipt and...

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HM Revenue & Customs (“HMRC”) has published a policy paper, accompanied by draft legislation, which confirms the removal of the 1.5% charge to stamp duty and stamp duty reserve tax (“SDRT”) on the issuance of UK shares into...more

A&O Shearman

New UK 'failure to prevent' fraud corporate criminal offence

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A draft ‘failure to prevent fraud’ corporate criminal offence will render large companies liable for fraud committed by their associates. We consider the draft offence and implications for businesses....more

A&O Shearman

New UK 'failure to prevent' fraud corporate criminal offence published - Update 9/6/2023

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A draft ‘failure to prevent fraud’ corporate criminal offence will render large companies liable for fraud committed by their associates. We consider the draft offence and implications for businesses....more

Conyers

Amendments to the BVI Civil Procedure Rules Series – Part Four

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The Revised Eastern Caribbean Supreme Court Civil Procedure Rules (the “Revised CPR”) come into force on 31 July 2023, and with them a significant change to the rules which govern service of proceedings on foreign defendants...more

Fenwick & West LLP

ESG Reporting for Private Companies

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As we have noted in our previous report, environmental, social and governance (ESG) issues have garnered significant attention from a variety of stakeholders, resulting in increased reporting by many companies. While much of...more

ArentFox Schiff

Pending PBM-Reform Legislation on Capitol Hill

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Below is a table of currently pending PBM (Pharmacy Benefit Manager)-reform legislation, featuring brief descriptions, links to the texts, and additional information about each bill. We have highlighted significant bills,...more

Allen Matkins

Nevada Enacts Changes To Stockholder Inspection Statute

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As mentioned earlier this week, Nevada's regular legislative session ended on June 6.  During the session, the legislature enacted, and the Governor approved,  AB 126  which makes numerous changes to Nevada's business entity...more

Pillsbury Winthrop Shaw Pittman LLP

Congressional Action on AI Takes Major Step Forward

Senate Majority Leader Chuck Schumer (D-NY) proposed a new framework to guide future artificial intelligence legislation and regulation, and other members of Congress are also considering legislation to address AI concerns. ...more

Bennett Jones LLP

Employee Ownership Trusts—A Useful Tool for Employee Business Ownership?

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There is a growing international movement to increase employee ownership of businesses. Some jurisdictions such as the United Kingdom and the United States have developed tax rules and incentives to facilitate business...more

King & Spalding

Bipartisan Senators Seek Stakeholder Input to Draft Legislation to Address Health Care Workforce Shortage

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On February 16, 2023, the Senate Health, Education, Labor, and Pensions (HELP) Committee held a hearing concerning the current health care workforce shortage. On March 2, 2023, Chairman Sanders and Ranking Member Cassidy of...more

White & Case LLP

The INDEX Act: A challenge to the voting influence of institutional investors that may yield unintended consequences

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The Act's supporters say it would shift voting power from large investment advisers to individual investors, but the reality could be far more complex - The INDEX Act arrives at a moment of increasing resistance to ESG...more

Allen Matkins

Bill Would Urgently Remove Limitation On Virtual Shareholder Meetings And Allow Utopian Meetings

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The last sentence of California Corporations Code Section 600(e) imposes a significant limitation on the ability of California corporations to hold virtual-only meetings...more

McDermott Will & Emery

Ministerial Draft for the Introduction of the Virtual Annual General Meeting

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Up to now, the virtual Annual General Meeting has been a provisional solution due to the exceptional situation caused by the pandemic, with an end date of August 31, 2022 set in the so-called COVID-19 Act. The German Federal...more

Nossaman LLP

California Begins to Question the “Friendly PC” Model

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Bill SB 642 is currently under consideration by the California State Legislature and would, if enacted, severely restrict use of the Stock Restriction Agreement and similar arrangements used in the “Friendly PC” model. ...more

Conyers

Heads Will Roll: Cayman’s Proposed Amendment to the Companies Act (2021 Revision) Would Abolish Headcount Test

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M&A lawyers can let out two cheers for the Companies (Amendment) Bill 2021 (“Bill”) which was recently gazetted in the Cayman Islands. If enacted in its current form Bill will, amongst other things , abolish the...more

McDermott Will & Emery

Mexican Federal Government Submits Proposed 2022 Economic Plan

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Last month, the Mexican federal government sent the proposed 2022 Economic Plan (the Proposal) to the Congress of the Union, which includes the 2022 Federal Budget, as well as the 2022 Revenue Law (Ley de Ingresos) and...more

Buchalter

Corporate Practice of Medicine on Steroids

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At a time when many are questioning the continued utility and viability of the corporate practice of medicine ban, California may be doubling down. On May 3, 2021, the California Senate Health Committee approved SB-642, the...more

Perkins Coie

Arizona DEQ Proposes Final Contours and Draft Legislation for Surface Water Protection Program

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The Arizona Department of Environmental Quality updated stakeholders on December 15, 2020, regarding the final elements of its proposed state Surface Water Protection Program and solicited feedback on the draft legislation...more

Fenwick & West LLP

California’s Proposed AB 979 Requires Public Company Boards to Include Racial and Ethnic Diversity Information

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ISS Asks Companies for Similar Diversity Disclosures - California lawmakers have proposed legislation mandating that public companies headquartered in the state appoint board members from underrepresented communities. AB...more

Proskauer - Law and the Workplace

New York State Advances Bill That Would Allow Liens Against Employers For Unpaid Wage Claims

The New York state legislature has passed a bill that would allow employees making certain claims for unpaid wages to obtain a lien against their employers’ property for the value of the claim, inclusive of liquidated...more

Allen Matkins

California Gender Equity Quota Bill Advances

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An effort by several California legislators to impose gender quotas on publicly held corporations will be heard next week by the Banking and Financial Institutions Committee. SB 826, as amended on April 3, will apply to both...more

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