Law

SEC, ICO, IRS, BSA – A Few of the Acronyms of Blockchain and Cryptocurrency Law (5)

By Edward Tolchin, Offit Kurman

Part 5: Anti-Money Laundering and the Crypto World

As long ago as 2013, FinCEN published guidance on transactions involving cryptocurrency, which FinCEN termed “virtual currency.” BSA regulates, generally, a financial institution’s “currency” transactions, but the BSA and its regulations define “currency” as fiat currency, not virtual currency. There is a subcategory of financial institutions, however, which extends coverage to a “money services business” (MSB), which includes an entity involved in the transmission of “currency … or other value that substitutes for currency.” Because any cryptocurrency, by definition, is a “value that substitutes for” fiat currency, FinCEN has been able to reach the blockchain/token world.

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Law

Doing Business in Italy? You can do it better with a ‘legality certificate’

By Marina Sonni, Bussoletti Nuzzo & Associati Avvocati

Since 2012, companies carrying their business in Italy can request and obtain from the Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato - AGCM) the attribution of the so‐called Legality Rating, an innovative tool based on incentives aimed to increase the competitiveness of companies by promoting ethically principles in corporate conduct (see article 5-ter, Decree-Law 1/2012, converted into Law 62/2012).

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Law

THE LAW FIRM AS A BUSINESS

By Dr Robin Leon Fritz, FPS

I. INTRODUCTION

Law firms today are businesses operating in a highly fragmented and intensely competitive environment. The market for legal services is a transparent one. Those interested in this market, potential future developments in the market and what firms need to do to successfully position themselves will find a large number of suitable publications. There is also a broad selection of consulting firms and training programs.

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Law

How to Prevent and Remedy Sexual Harassment in the Workplace (II)

By Katharine Batista, Offit Kurman

The Fourth Circuit has stated that its ‘cases have sought to distinguish between those situations that indeed present serious impediments to minority and female workers and those situations when human nature simply is not at its best.’ Ziskie v. Mineta, 547 F.3d 220 (4th Cir. 2008). If the highest federal courts struggle with the distinction, it’s not one you should take on after simply hearing a brief description of the alleged harassment.

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Law

Trademarks: Are They Worth Registering?

By David Greber, Offit Kurman

Businesses often use trademarks or service marks to market products or services that they offer. How do these businesses avoid being sued for infringing other ‘marks’ and prevent other businesses from using confusingly similar marks?

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Law

Preliminary agreements in Australia – are they enforceable?

By Andrew Lacey and Danyal Ibrahim, McCabes Lawyers Pty Limited

Preliminary agreements are common precursors to complex commercial contracts, and take the form of documents such as heads of agreement, letters of intent and memoranda of understanding, to name a few. They are also used in the context of conveyancing of properties, sale of business and supply of goods or services.

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Law

Process of harmonisation with the EU legislation in relation to mobbing and posting of workers

By Sanja Djukic and Tijana Milacic, Law Firm Sajic

In Bosnia and Herzegovina, a set of laws has been adopted in the last couple of years, bringing this legislation closer to the EU legislation. In that spirit the new Labour Law and the Law on Prohibition of Discrimination have been adopted, since this is one of the most sensitive areas due to the fact that it treats the rights of workers.

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Law

Changes to New Zealand Trust Law

By Bethan Boscher, Morrison Kent

New Zealand’s current trust law was enacted over 60 years ago. Like many other trust laws, few statutory updates have been made to it, with the trust law instead being developed through the Courts and common law. However, New Zealand trust law is in need of a revamp and a new trustee act is currently progressing through parliament, anticipated to be introduced over the next year. This new law is expected to bring welcome clarity for trustees, resulting in one of the most up-to-date trust laws globally, which is fundamental to the best administration of New Zealand trusts.

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Law

Sydney

Interns – to Pay or Not to Pay?

By Erin Kidd, McCabes

Employers need to understand the distinction between legitimate unpaid internships, which offer genuine work experience, and sham internships that exploit cheap (or free) labour, to ensure they do not fall foul of Australia’s workplace laws.

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