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Requirements for “effective ownership” reporting are outlined in a final rule issued by the US Department of the Treasury

A final rule designating what types of legal entities will be required to report information about their beneficial ownership was recently issued by the US Treasury Department’s anti-money laundering unit. This government initiative is an attempt to uncover corrupt companies that are enjoying the benefit of anonymity. It is worth mentioning that the final rule …

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Drummond Advisors participates in the ABVCAP 2022 Congress

This event is the largest Venture Capital and Private Equity meeting in Latin America The attorney specializing in international operations and partner at Drummond Advisors, Pedro Drummond, will be one of the speakers at the ABVCAP 2022 Congress, which will take place on November 8 and 9 at the Belmond Hotel Copacabana Palace, in Rio …

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CVM announces cryptocoin guidance opinion

On October 11, 2022, CVM announced Guidance Opinion no. 40/22, named “Cryptocoins and Securities Market”, consolidating the understanding and guidance to rate cryptocoins as securities and providing the Agency performance limits and stock market cryptocoin standardization and inspection powers. According to CVM Chairman, João Pedro Nascimento: “The opinion is a recommendation and guidance to the …

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The House of Representatives approved a Legal Framework for the Electronic Games Industry

The House of Representatives approved the Bill (PL 2796/2021) that regulates the electronic games industry. Now, the proposal will be analyzed by the Senate. The Bill is an initiative of deputy Kim Kataguiri (UB-SP) and it was approved by the deputies in the form of a new text presented by the rapporteur, Darci de Matos …

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STF confirms maternity leave from hospital discharge of mother or baby

According to art. 392 of the CLT, the “pregnant employee is entitled to maternity leave of 120 days, without prejudice to employment and salary”. It is also worth noting that, according to the CLT, the removal would occur between the 28th day before delivery and the baby’s date of birth and, in the event of …

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Corporate Transparency Act: Reporting will have new requirements for most corporate organizations

Approved in 2020 as part of the money laundering act, the Corporate Transparency Act (CTA) has increased reporting coverage for most corporates in the US. The CTA emerges as a joint attempt by different government areas to combat money laundering and other illicit activities and align reporting requirements with international standards. The CTA fights against …

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Foreigners have expanded list of IR-exempt investment

Published on 09/22/2022, Provisional Measure No. 1137/2022 amends Law No. 11,312, of June 27, 2006, and provides for the reduction of tax rates on the income of beneficiaries residing or domiciled abroad. From this measure, the income tax rate related to certain investments is zeroed, if such investment is already taxed in the investor’s country …

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L Visa for a New Office – The importance of the US office’s size and location

By: Fabiana Guerra, Chris Costa and Louanni Ribeiro The L visa is an employment visa whose purpose is to allow the transfer of employees (specialist professionals, managers and executives) from a foreign company (for example Brazilian) to its affiliate in the USA, including when this affiliate was established less than a year ago or is …

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Flexibility and modernization in labor relations in Brazil according to the STF: Collective agreements and digital nomads

Collective bargaining, signed between union and company, whose main objective is to establish working conditions that meet the interests of companies and workers, had relevant updates with the advent of the Labor Reform, law 13,467/17, since we can currently observe a prevalence of the negotiated over the legislated, as already decided by the Federal Supreme …

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