OTHER THINGS YOU MAY HAVE MISSED – OCTOBER 18

Panama Covid-19 update – another Sunday lockdown…another 638 cases (now over 124,000 total to date, but 101,041 “recovered”). Also another 7 fatalities. There are now 21,140 active cases, 107 in ICU and 654 in other wards.

18 October 2020

ARMS EMBARGO ON IRAN EXPIRES DESPITE US OPPOSITION

On 18 October, Al Jazeera reported that, despite opposition from the US, a long-standing conventional arms embargo imposed on Iran has expired in line with the terms of the landmark JCPOA deal.  The end of the embargo means Iran will legally be able to buy and sell conventional arms, including missiles, helicopters and tanks, and the Iranian foreign ministry said the country can now “procure any necessary arms and equipment from any source without any legal restrictions, and solely based on its defensive needs”.  In August, the US tabled a UN resolution to indefinitely extend the arms embargo, but it was rejected.

https://www.aljazeera.com/news/2020/10/18/arms-embargo-on-iran-expires-despite-us-opposition

PAKISTAN CUSTOMS SEIZES 75 SMUGGLED FALCONS AND HOUBARA BUSTARDS

On 18 October, the News International reported that the Anti-Smuggling Organisation of the Pakistan Customs has seized 75 birds of endangered species.  The raids were conducted after a tip-off of birds being exported illegally to foreign countries. 

https://www.thenews.com.pk/print/731012-customs-seizes-75-smuggled-falcons-houbara-bustards

SOUTH KOREA: FINANCIAL FRAUD SCANDAL INVOLVING A PRIVATE EQUITY INVESTMENT COMPANY

On 18 October, the Korea Herald reported that the case now involves a key suspect having claimed to have lobbied ranking prosecutors, one of whom is now part of the investigative team.  The article speaks of a rift between the prosecution and its oversight body, the Justice Ministry, which have been at odds over the reform issue as well as some politically sensitive cases.  The ministry had claimed that he probe by the Seoul Southern District Prosecutors’ Office into the Lime Asset Management’s hedge fund scam was “insufficient,” and that prosecutors had failed to properly look into the testimony of the suspect concerning the alleged illegal lobbying.

http://www.koreaherald.com/view.php

ENHANCING NUCLEAR REACTOR SECURITY

On 14 October, the Middlebury Institute reported on the European Nuclear Society meeting where research-reactor operators from across Europe and beyond to discuss the latest technical and policy developments.  The Society promotes the development of nuclear science and technology and the understanding of peaceful nuclear applications.  The meeting included a senior fellow of the Institute giving a presentation on “Current and Future Perceptions and Applications for Proliferation Resistance”.  A YouTube recording is available of a Zoom meeting of a proliferation resistance panel discussion.

https://nonproliferation.org/enhancing-nuclear-reactor-security/

UK: ACCOUNT FREEZING ORDERS

CMS Law has produced a briefing on Account Freezing Orders available under the Criminal Finances Act 2017.  It explains how one could be affected by an AFO and how to mitigate the risk.

https://www.cms-lawnow.com/publications/2020/10/account-freezing-orders-the-uks-quiet-revolution-in-white-collar-enforcement

10 TRADEMARK MYTHS AND HOW THEY CAN HURT YOUR BUSINESS

On 29 September, Williams Mullen in the US published an article on US trademark law.  It lists 10 “trademark myths” that may prove costly to a company, as well as recommendations to help evaluate potential trademark issues –

  • We cannot get sued for trademark infringement because we have a federal registration;
  • We can stop anyone from using our trademark because we have a federal registration;
  • Our name is a common or generic term, so we cannot get sued for trademark infringement;
  • We do not need to do anything else with our trademark once we register it;
  • The USPTO enforces my trademark for me;
  • Trademark applications are easy to file and registrations are easy to get;
  • Someone owns a trademark registration for the name I want to use, so I cannot use or register it;
  • I need a registration in order to “trademark” a mark (or acquire rights in it);
  • My mark is not identical to another’s mark, so I am safe from a claim of infringement; and
  •  I filed for the domain name or the business name incorporating my mark, so I am all set as far as trademark rights.

https://www.williamsmullen.com/news/ten-trademark-myths-and-how-they-can-hurt-your-business

HOW THE ‘DOMINANT PURPOSE’ TEST APPLIES IN PRACTICE

On 16 October, in the latest instalment of the Sports Direct series of decisions on privilege, this considers how the ‘dominant purpose’ test applies in practice and the importance of context for the High Court’s assessment of it.

https://www.clydeco.com/en/insights/2020/10/dominant-porpoise-sports-direct-get-the-dominant-p

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

AUSTRALIAN BARRISTER EMBROILED IN US LARGEST TAX EVASION CASE

On 18 October, the Sydney Morning Herald reported that Evatt Tamine, 56, a former Australian officer, who moved to Bermuda where he set up practice as a barrister in 1999 is at the centre of what law enforcement authorities claim is the largest ever tax evasion case in US history.  He is alleged to have created a complex network of offshore companies and trusts and utilised false paper trails to help Texan billionaire Robert T. “Bob” Brockman allegedly evade $2 billion.

https://www.smh.com.au/business/banking-and-finance/australian-barrister-embroiled-in-the-us-s-largest-tax-evasion-case-20201018-p56690.html

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

EURO PACIFIC BANK AND THE OPERATION ATLANTIS SWEEPING INTERNATIONAL TAX PROBE

On 18 October, The Age in Australia reported that Euro Pacific Bank, a Puerto Rico-based ban fronted by US financier and celebrity business commentator Peter Schiff, has been described as a “top tier” organised crime threat to Australia because of its suspected use by Australian and international organised crime syndicates.  It is alleged to be the target of Operation Atlantis, an international tax probe by the “J5”, a taskforce made up of the tax chiefs of Australia, the US, UK, the Netherlands and Canada that was set up after the Panama Papers leak.  The bank has been designated as an Australian Priority Organisation Target, which means that police suspect that it poses a grave organised crime threat to Australia and is the most serious classification by the Australian Criminal Intelligence Commission.

https://www.theage.com.au/national/westpac-mint-hundreds-of-australians-ensnared-in-global-tax-evasion-probe-20201015-p565la.html

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

APG RELEASES FIRST FOLLOW-UP AML/CFT REPORT ON PAKISTAN

On 18 October, Regulation Asia reported that the FATF-style regional body, the Asia-Pacific Group, says that Pakistan has been re-rated for technical compliance from ‘partially compliant’ to ‘compliant’ on FATF Recommendation 29 (FIU), due to improvements in information-sharing in the country, and is said to have made progress on FATF Recommendations 1 (assessing risks and applying a risk assessment approach).  Pakistan had requested re-ratings for Recommendations 1, 6, and 29, all rated ‘partially compliant’ in the mutual evaluation report published in October 2019.  Commenting on Pakistan’s terrorism financing risk assessment, the APG says that the assessments of risks associated with DNFBP and legal persons and legal arrangements are “very general in nature and appear to be based on limited data”, adding that it does not consider in detail known instances of terrorist organisations acquiring real estate and using it to raise funds.  Pakistan has raised a disagreement with the process, analysis and rating for Recommendation 6 (targeted financial sanctions related to terrorism and terrorist financing), but is said to be ‘compliant’ on just 2 FATF Recommendations, ‘largely compliant’ on 9, ‘partially compliant’ on 25, and ‘non-compliant’ on 4; and will remain in enhanced follow-up.

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I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y