Regions

NEW RBI NORMS ON PREPAID PAYMENT INSTRUMENTS

The Reserve Bank of India (“RBI”) has issued various guidelines from time to time on issuance and operations of Prepaid Payment Instruments (“PPIs”) in India. PPIs are defined as payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities, etc., against the value stored on such instruments, and can be classified under three types viz. (i) Closed System PPIs, (ii) Semi-closed System PPIs, and (iii) Open System PPIs.

In view of the numerous technological innovations, progress in fintech and the use of PPIs growing at an exponential rate, RBI with the aim to foster innovation and competition, safety, security, and customer protection, has issued a fresh set of directions relating to issuance and operations of PPIs on October 11, 2017, in the form of RBI (Issuance and Operation of Prepaid Payment Instruments) Directions, 2017 (“Master Directions”). These Master Directions are applicable to PPI Issuers, System Providers, and System Participants, and are effective immediately. Existing authorised PPI issuers have, however, been allowed till December 31, 2017 to comply with the revised requirements (except where otherwise specified in the Directions).

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Trump Nominee Peter Robb Confirmed as NLRB General Counsel

The Senate has confirmed Peter B. Robb as the next General Counsel of the National Labor Relations Board (“NLRB” or “Board”).  Mr. Robb, a management side labor lawyer perhaps best known for his representation of the FAA during the 1981 air traffic controllers’ strike, will succeed Richard Griffith, Jr., who was appointed to his four year term by President Barrack Obama in 2013.

Although Mr. Griffin’s term concluded on October 31st, and the Senate sent Mr. Robb’s confirmation to the President for his signature, to date President Trump has not signed off, with the result that since November 1st, Deputy General Counsel Jennifer Abruzzo has been serving as Acting General Counsel.

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Talking Tax – Issue 103

Cases

Beneficiaries beware! Option to purchase property of an estate may attract duty

On 6 November 2017, in Watts v Chief Commissioner of State Revenue [2017] NSWCATAD 320, the NSW Civil and Administrative Tribunal (Tribunal) determined that the Taxpayer failed to satisfy the Tribunal that nominal duty of $50, rather than duty at normal rates, should be imposed on a transfer of land made pursuant to an option contained in the Will of a deceased person. Broadly, nominal duty is available for transfers of dutiable property made under or in conformity with a Will of a deceased person, or where the property is the subject of a trust for sale contained in a Will, and the transferee is a beneficiary under the Will.

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Appeals Court Enforces Arbitration Clause in Hyperlinked Terms & Conditions

In an important decision concerning the enforceability of an arbitration clause included in a mobile app’s Terms of Service, the federal appeals court in New York recently found that a reasonably prudent smartphone user would recognize that blue, underlined text within an Internet-linked app leads to another page where additional information can be found.

The U.S. Court of Appeals for the Second Circuit therefore held that a mobile app’s registration screen, notifying the user that by registering, he or she will be bound by the app’s “Terms of Service,” is sufficient to bind that user to a contractual arbitration provision included in those Terms of Service, reversing the district judge’s decision that determined such hyperlinked terms to be unenforceable.

Read more…

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Lawmakers Get One Step Closer To Reversing The NLRB’s Controversial Joint Employer Standard

The House of Representatives recently passed the Save Local Business Act (H.R. 3441), which marks an important step in the campaign to reverse the Board’s controversial loosening in Browning Ferris Industries of the long standing tests for determining whether two businesses are joint employers expansion and share bargaining obligations and liability for each other’s actions.  The measure seeks to protect businesses with staffing, franchise and other contractual relationships from liability and union bargaining obligations for another business’ workers unless one business exercises direct control over the employees of the other.

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Transformation Sweeping Advertising and Marketing: Influencer Marketing

It was an incredible three days in Chicago at the 39th Association of National Advertisers/Brand Activation Association Marketing Law Conference, “Breakthrough: Legal Strategies for Dynamic Businesses.” During yesterday morning’s general session, I gave a presentation titled “Transformation Sweeping Advertising and Marketing: Key Trends and Legal Developments,” exploring not only the trends and changes in the advertising and marketing ecosystem, but how lawyers can and are responding to keep pace with the industry and their business clients’ demands.  In the next series of posts, I will share some highlights from my presentation. Let’s dive into the first one…

Influencer marketing isn’t just the fastest channel for consumer acquisition – it’s also one of the most cost-effective.  Studies have shown that working … Continue Reading

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Thomas S. Fitzpatrick Recognized on Super Lawyers Top 100 List

Davis Malm recently announced that 23 of its attorneys were named to the list of 2017 Massachusetts Super Lawyers and Rising Stars. Additionally, Davis Malm shareholder Thomas S. Fitzpatrick was selected for inclusion in the Top 100 Super Lawyers list for Massachusetts-based attorneys.

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Davis Malm Adds Tax Abatement Shareholder Mark J. Witkin to Real Estate Practice

Davis Malm announces that Mark J. Witkin has joined the firm as a shareholder. Mr. Witkin focuses on matters involving real and personal property taxation. He advises public, private and nonprofit companies, investors, and individuals on a wide range of municipal taxation issues.

Mr. Witkin has extensive experience negotiating property assessments with municipal assessing authorities and valuation companies, real estate development municipal tax incentives, and payments in lieu of taxes for nonprofit, tax exempt entities. He litigates tax assessment appeals before the Massachusetts Appellate Tax Board and has participated in cases that have established precedent in the laws relating to real property taxation, including special use properties such as nursing homes and hotels.

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Davis Malm Adds Haritha D. Ambros to Business Law Practice

Davis Malm announces that Haritha D. Ambros has joined the firm as an associate. Ms. Ambros practices in the Business Law group and focuses on assisting emerging companies in corporate formation, financings, and related general commercial matters, including drafting and reviewing term sheets, investor rights agreements, board consents, and stock purchase agreements for private company financings.

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Court of Appeal Reduces Grossly Excessive Damages by 50%

In the case of Paul Gore (A Minor) v John Walsh and Darren Walsh the Court of Appeal significantly reduced damages and sent the case back to the High Court for the issue of liability to be retried.

The Court of Appeal considered that the sums of €25,000 awarded for pain and suffering to date and €25,000 for pain and suffering into the future were grossly excessive to the point where it constituted an error of law and must be set aside. Judge Irvine considered a scar on the plaintiff’s back to be at the very lowest end of the cosmetic injury spectrum and that the award was not proportionate when viewed in the context of awards commonly made in respect of other categories of personal injuries of a more significant nature. Of particular importance, was the fact that the award was not objectively reasonable in light of the common good and social conditions in the State.

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