In May 2017, the Deutsche Bundestag adopted a draft law for the implementation of the Fourth European Union Anti-Money Laundering Directive, as well as to execute the new EU money transfer regulation, among others. This summer this new version of the German Anti-Money Laundering Act (GwG) became effective. There are a number of important changes
This month the Canadian Department of Finance released legislative proposals (Proposals) relating to tax planning using private corporations which will have far-reaching impact. In general, the Proposals will will eliminate most common income splitting strategies used by small businesses. If enacted, the new tax structure will apply in 2018. Under the current rules, certain adults
Ally Law member Kemp Strang, based in Sydney, Australia, has published a white paper on multi-lender financing, the arrangement by which two or more lenders agree to meet the financing requirements of a particular borrower or borrower group. While multi-lender financing has been widely used to meet the substantial capital requirements of large corporates, today it is becoming
The terms corporate governance and legal risk are much bandied about but hold different meanings for different people. Ally Law member firm Russell Kennedy of Australia notes that typical interpretations include: Minimising Liability – particularly steps to reduce liability and exposure. Accountability – improving accountability and transparency within organizations, particularly decision making. Risk management –
On March 1, 2017 the New York State Department of Financial Services’ (NY DFS) Cybersecurity Requirements for Financial Services Companies (the Regulations) went into effect. The Regulations apply to any entity or organization “operating under or required to operate under a license, registration, charter, certificate, permit, accreditation or similar authorization” under New York (United States) banking
Commentators are fundamentally limited to educated guesses regarding what a Trump presidency might mean for corporate regulation given that the president-elect has never held an elected office and appears to be nominating several cabinet officials without government experience. Based upon campaign comments about “disastrous” U.S. regulations, however, it seems clear the president-elect will takes steps
In 2016 the Malaysian Parliament passed the Companies Bill 2015 (Bill) which is expected to transform Malaysia’s corporate landscape by spurring entrepreneurship and deregulating certain aspects of corporate process. Inasmuch as the Malaysian government has yet to finalize new regulations, rules and guidelines implementing the Companies Bill 2015, the Bill itself is not yet effective
Laws, regulations, and procedures relating to real estate vary widely from country to country, state to state, and even county to county. In the United States, real estate law derives from ancient English principals, modified in different places by local needs as they evolved. Without intimate familiarity and experience with the regional requirements and peculiarities of
Kemp Strang, Ally Law member firm in Sydney, Australia, recently prevailed for its client in a contractual dispute in which Kemp Strang represented rugby league football player Jordan Latham against the Manly Warringah Sea Eagles (Manly) team. Latham played for Manly in 2014 and 2015. Prior to the commencement of the 2016 season, Latham’s manager received
Although most U.S. nonprofits are formed under the laws of their home state, it is common for experienced nonprofit attorneys to recommend a Delaware entity. Most U.S. and international practitioners are aware that a large number of U.S. incorporations take place in Delaware: as of last year, 66 percent of Fortune 500 companies were incorporated in
