With the Jersey Financial Services Commission (JFSC) taking – and wanting to be seen to be taking – an increasingly robust approach with regulated firms, it is only natural for firms to ask what they can do to avoid a referral to the JFSC's Enforcement division and, if they are referred, what steps they can take to manage the risk of formal sanction.
This article summarises how most-favoured customer (MFC) clauses became a major competition law issue in Turkey, especially for large online platforms, and how the relevant case law has developed. It aims to provide a guide for classifying a range of MFC-like clauses and evaluating the competition law-related risks.
In recent years, environmental, social and governance investing has evolved into a financial industry megatrend – one that has been accelerated by the COVID-19 pandemic and shows no sign of slowing. This article examines this trend and considers how Guernsey positioned to build on its funds offering in this changing environment.
The US Department of Homeland Security has again postponed the deadline for compliance with the REAL ID Act 2005. Under the REAL ID Act, federal agencies may not accept state-issued driver's licences or ID cards for 'official purposes' – including clearance through Transport Security Administration security checkpoints at airports – unless those documents meet certain minimum requirements. The deadline extension is welcome news for US airlines and the US travel industry.
As e-scooters and e-bikes become more prolific in cities throughout the United States, associated litigation also becomes increasingly important. In an industry which is experiencing unprecedented growth yet seems to have a secured future, there are many factors to consider – from legislation and litigation to insurance and environmental impact.
This article focuses on three areas of employment law in Ireland that have seen recent significant developments: employment status and the gig economy (in particular, whether the UK Uber decision will have an impact in Ireland), collective bargaining arrangements and gender pay gap reporting.
Employers are facing many difficult and untested employment law issues as the United Kingdom rolls out its COVID-19 vaccination programme. These FAQs cover whether employers can make vaccination compulsory for employees, alternatives to a mandatory requirement, time off for vaccine appointments, handling vaccine objectors, data privacy concerns and other issues.
Brexit has given rise to a new opportunity for the Malta Ship Registry to consolidate its prominent global maritime flag position and may have a lasting positive impact in this respect. However, the uncertainties caused by Brexit are not the only reason why Malta is a popular flag choice; this article outlines some of the additional benefits.
The Home Office recently sent a voluntary survey to sponsors of workers to gather information about the time and cost associated with holding their sponsor licence. This will be used to assist the Home Office to design an improved sponsorship system for workers and to evaluate it once implemented. The proposed changes to the system are substantial and are aimed at streamlining and simplifying processes for sponsors, as well as delivering a faster process for bringing migrants to the United Kingdom.
The concept of limitation of a shipowner's liability is well known in maritime law and is generally the same across many maritime jurisdictions. However, the government's failure to ratify the Convention on Limitation of Liability for Maritime Claims 1976 and its Protocol of 1996, coupled with an unclear amendment to the regime set out by the Code of Navigation, suggests that Italy may have forgotten the importance of the limitation regime.
Swiss Transportation Safety Investigation Board investigators recently released a report on the crash of a vintage Junkers Ju 52 aircraft, operated by Ju-Air. The report found that the aircraft had stalled after the pilots navigated it in a high-risk manner into a narrow valley at a low altitude and a dangerously low airspeed with its centre of gravity out of limits. The investigation detailed a deficient safety culture that permeated every aspect of Ju-Air.
The Jerusalem Magistrates Court recently accepted a claim filed against the Israeli Aviation Authority (IAA) by a passenger who had been injured while colliding with another person at Ben-Gurion International Airport, which the IAA operated. The court ruled that the presence of ground stewards in the terminal – even if considered to be a high standard – could have prevented the collision between the plaintiff and the other person.
The Norwegian Confederation of Trade Unions and the Confederation of Norwegian Enterprise recently agreed to temporarily extend the interruption period for temporary lay-offs from six weeks to 10 weeks. This change will last until 30 September 2021 and makes it easier and less risky for employers to bring temporarily laid-off employees back to work.
Collective agreements have become a natural part of the Finnish working life and almost 90% of all Finnish employees are covered by such an agreement. However, the tide is shifting, with major employer federations withdrawing from negotiation tables. This raises the question of how employment relationships are organised in sectors that are not directly affected by existing collective agreements.
In April 2020 the termination ban and unilateral unpaid leave came into force, prohibiting employers from terminating any employment contract – regardless of whether it fell within the scope of the Labour Act – for three months as of the effective date of the law. The termination ban and unilateral unpaid leave have since been extended several times, most recently until 30 June 2021.
The Reserve Bank of India recently issued a discussion paper which proposes a significant overhaul of its approach to the regulation of non-banking financial companies (NBFCs), commonly referred to as 'shadow banks'. Recent events – in particular, defaults at certain storied NBFC groups and the effect thereof on the sector and financial markets as a whole – have brought the need to further tighten NBFC regulation into sharper focus.
The Court of First Instance of the High Court recently reviewed the legal principles that underpin the protection afforded to without prejudice communications. The court's decision makes it clear that for a communication to be without prejudice, there must be a dispute in existence, as well as a genuine attempt at settlement – an issue that a court determines applying an objective (reasonable person) test. Mere negotiation without more is not enough.
The Royal Court recently considered for the first time the blessing of a momentous decision of a court-appointed representative of minor and unborn beneficiaries of a trust to enter into a settlement agreement in respect of claims against the trust. While the decision to bless the decision of the representative of the minor and unborn beneficiaries was confined to the unusual facts of this case, this decision nonetheless establishes the circumstances (albeit limited) in which the court will bless such a decision.
This article considers a recent Court of Appeal judgment regarding the interpretation of a trust instrument. This case provides helpful clarification of the principles to be applied when interpreting Guernsey law trust instruments. The Court of Appeal also helpfully confirmed that the trustee was absolutely correct in this instance to seek the court's directions.
Buyers wishing to make a claim under contractual warranty provisions must comply with those provisions to the letter; sufficient and timely information is key. The case discussed in this article is a salutary reminder of the importance of complying with contractual warranty provisions and the difficulties of bringing a misrepresentation claim where warranties have superseded any pre-contractual discussions.