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Financial services MIG updater
The purpose of MIG updater is to detail the latest UK and international financial services regulatory developments and to provide clients involved with market infrastructure with access to a group which focuses specifically on their area of business.
Personal Property Securities Act (PPSA) Legal Alert
The Personal Property Securities Act 2009 (C’th) (PPSA) is a new law about security interests in personal property which will apply Australia wide. The PPSA is already law, but will start on the “registration commencement time”, which is expected to be 1 or 2 May 2011.
Annual reports and the GIPA Act
On 28 August 2010, two new regulations commenced which affect the annual reporting obligations of government departments and statutory bodies in New South Wales.
Payments to employers - section 251 of the Pensions Act 2004
Before 6 April 2006, the trustees of occupational pension schemes were required to reduce any funding surplus in their pension schemes if it reached a certain level.
A total makeover of the Hong Kong insurance supervisory system?
As long ago as 2007/2008 amidst the financial tsunami, the Chief Executive of Hong Kong Special Administrative Region saw the need to establish an independent regulatory body to replace its Office of the Commissioner of Insurance (OCI).
Neuer Gesetzesentwurf zum Beschäftigtendatenschutz
Als allgemeine Regelung zum Schutz personenbezogener Daten von Beschäftigten sollte der am 01. 09. 2009 in Kraft getretene § 32 Bundesdatenschutzgesetz (BDSG) nur der erste Schritt eines umfassenderen Arbeitnehmerdatenschutzes sein. Als weiteren Schritt hat nun das Bundeskabinett am 25. 08. 2010 den Entwurf eines neuen Gesetzes zum Beschäftigtendatenschutz beschlossen.
Financial services updater
Financial services updater, our newsletter service that details the latest UK financial services regulatory developments.
Under scrutiny: UK Competition Act and property contracts
A new law, taking effect in the UK in April 2011, will for the first time apply the full force of competition law to restrictive covenants and clauses in UK property contracts – including shopping mall leases and property sales. Covenants and clauses which breach the rules will be void and unenforceable, and the parties may face other sanctions too. The new rules will apply to existing contracts which were signed before April 2011, as well as to new contracts.
Essential corporate news - week ending 3 September 2010
Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
United Kingdom and the Netherlands agreed on tax treatment of Dutch funds for mutual account
The competent authorities of the United Kingdom and the Netherlands reached a mutual agreement by way of a ‘Competent Authority Agreement’ on the application of the new tax treaty between the UK and the Netherlands to investors in so-called Dutch closed funds for mutual account (fonds voor gemene rekening) (hereafter FGR).