The following is a guest post by Guzman Ramírez  from Bergstein Abogados, an independent law firm in Uruguay. Uruguay offers a number of tax advantages to multinationals. This has become especially so in the wake of the substantial tax reforms which have taken place in Uruguay in the last few years, under which Uruguay has been excluded from OECD blacklists. View Full Post
Fourth Circuit Asked to Rule on Whether Mortgage Retroactively Incorporates Federal Servicing Requirements A recent appeal to the Fourth Circuit may shed light on whether Virginia borrowers can assert federal mortgage servicing requirements as a defense to foreclosure when the mortgage instrument pre-dates the federal requirement. In Stansbury v. Federal National Mortgage Association, borrower Hollie Stansbury argues that a 2011 consent order between her mortgage servicer and the Office of the Comptroller of Currency was incorporated into the mortgage contract as a condition precedent to foreclosure. View Full Post
The FCA regularly explores how technology can make its regulation more efficient. One of the ways it does this is through TechSprints that bring together financial services providers, technology companies and subject matter experts to explore technological innovations. In November 2017, one of these events developed a “proof of concept” which could potentially make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide. View Full Post
The Bank of England (BoE) has published its annual report on the supervision of financial market infrastructures (FMIs). In terms of future developments and priorities for 2018, the BoE has noted the following: supervisory priorities: the BoE will continue its FMI core assurance reviews, in particular with regard to IT resilience at payment systems and on financial risk models at central counterparties (CCP); FMI policy developments in 2018: an important area of work will be the UK’s withdrawal from the EU. View Full Post
Higherdelta Ltd was the owner of commercial properties including a restaurant in Scotland. Its company secretary, director and shareholder was also the owner of a portfolio of residential properties. The non-disclosure of prior events relating to the personal portfolio was held not to be relevant to underwriting the business policy. View Full Post
On February 14, 2018, the CFPB issued a Request for Information seeking comments on improvements to the CFPB’s supervision program and “how best to achieve meaningful burden reduction.” The CFPB is seeking comments from “all interested members of the public,” including supervised entities, companies supervised by other agencies, consumer advocates, and regulators. View Full Post
Hostile Bids on Ice: Canadian Hostile Bid Activity Trends Substantially Lower In May 2016, sweeping changes to the Canadian take-over bid regime came into effect.  The stated purpose of the new rules included the goal of rebalancing the dynamics between hostile bidders and target boards by extending the minimum bid period to 105 days, and mandating a 50% mandatory minimum tender condition and a ten-day extension once all bid conditions have been satisfied or waived.  View Full Post
In the fight for equal pay, which has spanned from the legal stage to the center stage, one Canadian company has decided to address the pay gap, at least temporarily, through dueling magazine cover prices. Maclean’s, a popular monthly Canadian news magazine that reports on current political affairs and pop culture, is asking men to pay 26 percent more for its February 2018 issue than women. View Full Post