RG Business – RG Magazines http://rgmags.com RG Magazines Mon, 01 Oct 2018 14:16:05 +0000 en-GB hourly 1 Ladies’ pant suit is back; men: brown is the new black http://rgmags.com/2018/08/ladies-pant-suit-is-back-men-brown-is-the-new-black/ http://rgmags.com/2018/08/ladies-pant-suit-is-back-men-brown-is-the-new-black/#respond Fri, 10 Aug 2018 03:01:18 +0000 http://rgmags.com/?p=6670 By: Lorraine Shailer, Head of Clothing and Home, Marks and Spencer Ladies: Pant suits have been a favourite for designers and street stylers for some time now. However the trend seems to pick up even more steam recently. Maybe it started as a nod to Hillary Clinton, but coupled with the likes of the #metoo movement and [...]

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By: Lorraine Shailer, Head of Clothing and Home, Marks and Spencer

Ladies:

Pant suits have been a favourite for designers and street stylers for some time now. However the trend seems to pick up even more steam recently. Maybe it started as a nod to Hillary Clinton, but coupled with the likes of the #metoo movement and the ever-increasing push to empower women, we have seen the trend dominate fashion pages and runways. The pant suit’s ability to combine power, style and femininity makes it a wardrobe must-have.

If you’re thinking the pant suit of the 2000s however, change your train of thought. Instead think 80s and broad shoulders, high waists and great tailoring. Wear with sneakers, heels or brogues, with a t-shirt, button down or blouse. Pant suits will take you to the office, through to dinner and the after party. Its versatility is what makes it a must-buy.

The Fall 2018 runways saw a slew of wild and wacky pant suit options, but if you want to keep it polished, smart, sophisticated, and office appropriate with an edge, go for a classic tailored pantsuit in either black, navy or grey or for the more brave opt for bold solids. Pastels are still in and pink or dusted blue look amazing as pantsuits. For boardroom ready choose a simple shirt for understated chic and pair with metallic shoes for added interest. For evening vibes throw your suit jacket over a dress adding some embellished flats for glamour. To keep it casual add a classic white tee to your tailored look, with some jewel toned accessories to add a flash of colour.

White man standing in brown jacket with hand in his pocket.
Brown is the new black.

For the men:

There was a time was when brown meant drab, but think rich and warm shades of brown and you’ll have your colour of choice for the season. These hues exude confidence, sophistication and creativity for those men brave enough to wear it. Treat this wonderful colour pallete of camel, cognac and caramel to name a few, as you would treat black, greys and navys, to create striking yet versatile pieces which strike a timeless, classic chord.

Beige, taupe and chocolate were some of the key shades from the wild-west themes that graced the catwalks, with these brown based inspired hues creating quite the statement worn from head-to-toe. If you are brave enough to rock the all-over brown ensemble, then ensure there is a variance in tone to break up the look. Alternatively if you want to wear only one statement camel piece, make it a tailored blazer and pair it with neutral colours and simple designs, such as a white shirt, blue jeans, and sneakers.

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AirBar by Neonode turns your screen into touch http://rgmags.com/2018/08/airbar-by-neonode-turns-your-screen-into-touch/ http://rgmags.com/2018/08/airbar-by-neonode-turns-your-screen-into-touch/#respond Fri, 10 Aug 2018 02:46:17 +0000 http://rgmags.com/?p=6667 “Make your screen come alive” is the tag line for the AirBar — a thin, sleek, bar that magnetically fits to the bezel (the space between your computer’s screen and keyboard) of your computer which turns your notebook or laptop into a touchscreen. This add-on uses an invisible light field to detect fingers, stylus, or [...]

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“Make your screen come alive” is the tag line for the AirBar — a thin, sleek, bar that magnetically fits to the bezel (the space between your computer’s screen and keyboard) of your computer which turns your notebook or laptop into a touchscreen. This add-on uses an invisible light field to detect fingers, stylus, or any object 5mm or wider — within reason. It supports scrolling, pinching, zooming, rotating and most other features you are used to with any other touchscreen device, like your phone.

Look and feel

Its slim and flat design allows it to blend in with your computer almost seamlessly, making it relatively undetectable to onlookers. The device comes with a 9.5-inch USB cable that attaches it to your device. Unfortunately for those with no more available right-side USB ports, you can only attach the bar to the right side and the AirBar cannot be used upside down to try and plug it in to the left side – others have tried.

Your computer cannot be closed while it’s plugged in, and an alarm will sound if a hand is detected at the outer most top edge of the light field, so you don’t have to worry about forgetting. The AirBar weighs about 200 grams and comes in three sizes -13.3, 14, 15.6- for Windows in black and one size -13.3 -for Mac in silver.

Setup and use

The device works for both Windows 10 and Mac, but the setup for each is a little different. Both require magnets to attach the device to the computer.

Windows set-up:Most Windows computers are touchscreen at this point, but for those still using an older or a non-touchscreen model, the AirBar could be the right gadget to make your life easier. Windows 10 was designed with touchscreens in mind, so using the AirBar is as simple as plugging it into your device and using it. There is no extra software download required, so using it is a simple as plug in and play.

Apple/Mac set-up:For Mac users, the setup is a little more complicated. Mac computers are not and as Apple’s senior vice president hinted to wired.com, might never be designed with touch capabilities (that’s what iPads are for). AirBar, however, is here to make our Mac dreams a reality. To help the device run smoothly, there is an extra driver, available on the AirBar website, that will need to be installed. The website also has step by step instructions on the download process. This will allow your Mac to run seamlessly with the Airbar.

Function and performance

In terms of function and performance, there are some glitches, which can be expected from any add- on device. We’ve heard some complaints about inconsistencies when it comes to touch accuracy, but for the most part, it works quite flawlessly.

Pros

  • Affordable
  • Accurate touch control; Chrome OS and Windows support
  • Easy setup
  • Novel and exciting
  • Adds basic touchscreen capabilities to your MacBook Air

Cons

  • Magnet setup can be tricky (and permanent)
  • USB cable aligns only on the right
  • Inconsistent operation
  • Can’t close the laptop
  • Only available for one Mac model (Macbook Air 13.3)

 

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Mr Parker’s legacy: what matters most in family business http://rgmags.com/2018/08/mr-parkers-legacy/ http://rgmags.com/2018/08/mr-parkers-legacy/#respond Thu, 09 Aug 2018 19:28:58 +0000 http://rgmags.com/?p=6658 For more than 30 years, Wilfred Parker built up a solid reputation locally and internationally as one of the best auto body technicians Bermuda had to offer.  Still, one area he needed assistance with was the administrative side of running his business, Parker’s Auto World Ltd. In October 2009, his daughter, Felica DeRoza stepped in [...]

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For more than 30 years, Wilfred Parker built up a solid reputation locally and internationally as one of the best auto body technicians Bermuda had to offer.  Still, one area he needed assistance with was the administrative side of running his business, Parker’s Auto World Ltd. In October 2009, his daughter, Felica DeRoza stepped in to lend a hand.

Together the father-daughter duo have been able to work closely to ensure Mr. Parker’s legacy, of providing quality auto repair services at an affordable price, stays alive. “I came on board as co-owner roughly nine months after stepping in to help with office work at the garage,” Ms DeRoza explained. “Once we made the decision to partner, we had to sit down and discuss what my new role would be, how we would navigate the father daughter dynamic and also gain the respect of the staff and clients. I would no longer be ‘just the secretary’, and I think for a lot people, even now, I’ve had to earn their trust seeing that I’m a young lady in a male dominated industry.”

In a bid to be taken seriously, Ms DeRoza became certified in estimation and collision repairs. Now when her dad isn’t at the office, she’s able to answer clients’ questions confidently and address their needs on her own.  She’s also taken several entrepreneurial courses, offered through Bermuda College and the Bermuda Economic Development Corporation (BEDC), to add to her knowledge toolbox.

She said: “What I’ve found is a lot of times entrepreneurs work in the business, but we don’t work hard enough on the business. So while we may know the day to day operations of what’s going on, we neglect to dedicate enough time to the back end and administrative tasks. Those things are overlooked; however, those are the anchor for your business and are what will ensure you’re around for years to come.”

Over the past nine years, Ms DeRoza has learnt a lot of valuable lessons – such as how to account for every penny that comes into Parker’s Auto World and not to overlook the weaknesses of the business, facing them head on instead, so the company can become better and stronger. While there are ups and downs that come with being an entrepreneur, they both say working together has been extremely rewarding.

“Acting as a team definitely makes us stronger,” Mr Parker said. “Often times, if I miss something she’s able to pick up on it and vice versa if she overlooks something. Using the combination of our strengths and skills has been extremely important to growing and thriving the business.”

Ms DeRoza admits that much of her childhood was spent at the Bermuda Motors garage, where her father worked for over three decades. She spent time after school and on weekends watching him in his element and asking questions along the way. “I’ve been around cars nearly all my life, so I’m not surprised that I’m working alongside my dad now,” she confessed. “One of the best things about working with family is that if you have a great relationship before working together it’s a huge benefit. There are times when you may not agree or see eye to eye, but you know how to communicate and work things out.”

This article was presented by the Bermuda Economic Development Corporation.

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6 habits of highly sustainable employees http://rgmags.com/2018/08/6-habits-of-highly-sustainable-employees/ http://rgmags.com/2018/08/6-habits-of-highly-sustainable-employees/#respond Wed, 08 Aug 2018 19:28:10 +0000 http://rgmags.com/?p=6650 By Ashley Yearwood Sometimes the idea of saving the environment can seem like a daunting and almost impossible task. However, there are many things that employees can do in their daily life that can make a big difference. Reusable water bottles and travel mugs: Buying water can be a drain on your wallet and the [...]

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By Ashley Yearwood

Sometimes the idea of saving the environment can seem like a daunting and almost impossible task. However, there are many things that employees can do in their daily life that can make a big difference.

  1. Reusable water bottles and travel mugs:

Buying water can be a drain on your wallet and the environment, but there’s an easy alternative to save both. If your office has a Pure Water filling station, a water filter, or if the tap water is fine to drink, buy a refillable bottle to keep yourself hydrated and your pockets full. Bring a travel mug and use your office coffee machine, or the fill-your-own option at your favourite coffee shop.

  1. Recycled and reusable writing utensils

Many people don’t think of pens and mechanical pencils when it comes to plastic waste. They either get lost, or end up in the trash as another wasted plastic product. Using pens made out of recycled materials, or ones that can easily have their ink cartridges replaced will help out with the amount of plastic waste.

  1. Buying lunch? if you can carry it, leave the bag behind

Everything about take-out is unsustainable, from the containers to the bag it comes in. Most of the time, that bag is used to transport the food and then immediately thrown in the trash. If you can carry your food back to the office without a bag, then do it! That is one less opportunity for a plastic bag to end up in the ocean. Try leaving a reusable bag and utensils at work for your lunch time journey.

  1. Think before you print and reuse paper wherever possible

Don’t let paper pile up! Digitize your files, and only print when it is completely necessary. Hard drives and programs like Dropbox and Google Drive are great ways to organize and share files without printing. Paper is double sided. So instead of throwing away a mistake print or a one-sided document, simply flip it over and use the opposite side as scrap.

  1. Desk plants

Tons of plants are desk friendly and can help purify the air in the office. They are also very cute and allow you to have a little bit of your own aesthetic in the workplace. An even bigger bonus — studies show that plants improve your overall health.

  1. Shut it off

When you leave your workspace, be sure to use power-saving modes on electronic devices and turn off computers wherever possible.The digital world can be great, but it has to run on energy. Energy usage, both non- and renewable, can add up to cause strain on resources.

Habits, once settled, are known to be hard to give up. Consciously doing these little things over and over will eventually turn them into subconscious acts that have a big impact on your own wellbeing, your company’s work environment, and sustainability on a global scale. Take the lead and your fellow employees will follow suit.

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New wine in old bottles: commercial reality and the doctrine of ultra vires http://rgmags.com/2018/08/new-wine-in-old-bottles-commercial-reality-and-the-doctrine-of-ultra-vires/ http://rgmags.com/2018/08/new-wine-in-old-bottles-commercial-reality-and-the-doctrine-of-ultra-vires/#respond Wed, 08 Aug 2018 19:19:54 +0000 http://rgmags.com/?p=6647 By Marshall, Diel and Meyers Introduction A corporation cannot enter into a contract if it does not have the legal capacity to do so.  The doctrine of “ultra vires”, with its Latin rubric, might perhaps be regarded as antiquated, and as mere “legalese”, but in Bermuda at least (and in many other parts of the [...]

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By Marshall, Diel and Meyers

Introduction

A corporation cannot enter into a contract if it does not have the legal capacity to do so.  The doctrine of “ultra vires”, with its Latin rubric, might perhaps be regarded as antiquated, and as mere “legalese”, but in Bermuda at least (and in many other parts of the Commonwealth) it can have wide ranging and severe commercial consequences, in particular in relation to persons dealing with statutory corporations. Such corporations include, in Bermuda, the Bermuda Gaming Commission, the Bermuda Monetary Authority, the Bermuda Tourism Authority, WEDCO, BDLC, BHC, the Hospitals Board and the Corporation of Hamilton.  The decisions of the Supreme Court and the Court of Appeal in the MIF litigation (Corporation of Hamilton v Mexico Infrastructure Finance LLC [2016] Bda LR 110 and Mexico Infrastructure Finance LLC v Corporation of Hamilton [2017] CA (BDA) 11 Civ, (2017) 90 WIR 232) serve as a poignant reminder of the fact that innocent third parties must take special care when dealing with statutory bodies.

The doctrine

The literal translation of “ultra vires” is “beyond the powers”.  In the context of a corporation whose powers are conferred by statute, it means that the corporation only has the powers expressed in the statute, as well as any other powers which may necessarily be implied from the terms of the statute, or which may be expressed or necessarily implied from other statutes.  The question is therefore one of interpretation, a process which can be complex.

Having determined that the statutory corporation has the requisite power, it is then necessary to determine whether the power has been exercised in a proper manner and for proper purposes, as a power not so exercised is equally ultra vires.

Broadly speaking, acts and omissions of statutory corporations which involve illegality, irrationality or procedural impropriety are treated as ultra vires.  Thus, if the corporation takes some action or decision for a purpose which is not one authorised by the statute in question; or takes a decision involving an error of reasoning depriving it of its logical integrity; or is guilty of unfairness, bias or the appearance of impropriety, the action or decision taken will be ultra vires. It is also ultra viresstatutory powers to act in bad faith, to ignore something legally relevant, to take into account something legally irrelevant, or to act in accordance with some rigid policy rule, or under the dictation of some other person or authority.  The range of potential errors which could render an action or decision ultra viresis considerable.

The consequences

If a statutory corporation purports to exercise a power which it does not have, or exercises a power which it does have unlawfully, the exercise of the power is ultra vires, with the result that it is void and of no legal effect whatsoever.  A contractual transaction which is ultra viresis therefore of no legal effect; and neither contracting party can enforce it or sue for damages for breach.  Further, the corporation can escape contractual liability entirely by raising its own ultra viresas a defence to an action based on the contract.  This is so even despite the passage of time, or the corporation acquiescing in the performance of the contract by the other side, or encouraging the other side to perform, or making representations that it had the power to enter into or perform the contract, or attempting to later ratify the contract, or delaying in raising the defence.  It is even so if the corporation accedes to a consent order of the court consenting to a judgment given against it on the contract and even if the corporation seeks to take the point some considerable time afterwards.

These principles, create an obvious risk, both legal and commercial, for those doing business with such corporations.  An innocent third party who has entered into a contract with a statutory corporation in good faith may find itself unable to sue to enforce the bargain if the transaction entered into with the corporation was outside the corporation’s powers.  This is even the case where the risk may not have been discoverable easily or at all.  Further, to make things more difficult, the innocent third party cannot rely on its own ignorance of the limitations of the corporation’s powers.  Nor would a warranty in the contract to the effect that the corporation had the relevant power assist, as that too would be equally ultra vires.

The doctrine (as interpreted by the Courts) renders the due diligence exercise, in short, something of a minefield. Finding, reading and correctly interpreting the governing statute (as well as any other applicable statutes), as difficult as that may be, is not be sufficient.  The innocent third party also need to be in a position to assess the rationality and procedural propriety of the decision to make the contract.  That involves making a judgment on such matters as: whether all relevant factors had been taken into account and all irrelevant ones excluded from consideration; or whether or not the corporation may be acting in bad faith, for example, in order to make some sort of unauthorized profit rather than to further its statutory purposes.

From the perspective of legal policy, this seems an odd position for the law to adopt.  The notion that the enforceability of statutory corporations’ contracts should be subject to the ultra viresdoctrine with these results has been described as “harmful and irrational”. Commentators have further pointed to the potential impact of the ultra viresrisk on commercial decisions in relation to entering into contracts with public corporations and the possible consequence that, in order to compensate for this risk, businesses contracting with public corporations may increase prices, thus leading to the undesirable consequence of increasing the cost of public contracting.

On the other hand, it has been argued that the ultra viresdoctrine, despite its apparently troublesome consequences, is justifiable on the basis that it upholds, supports and promotes the rule of law, which is possibly the most important of constitutional and political values.  The rule of law in this context means that the corporation must act in accordance with the law as enacted or framed by the legislature and with the constitution.  This is a fundamental constitutional principle, the purpose of which is to protect individual citizens from illegal action by the government.  In relation to municipalities, this rationale (it has been said) is further buttressed by the related doctrine that municipalities owe their ratepayers a duty in the nature of a fiduciary duty in relation to the use to which they put their rates.  To permit a municipality to use rates otherwise than for statutorily authorised purposes would be a breach of this duty; and for the council of a municipality not to raise the ultra viresdefence to an action for monetary recovery on a contract in order to protect ratepayers’ funds would likely similarly be a breach of duty.

Thus, although applying the consequence of absolute invalidity or voidness may be a particularly strict approach, it has the advantage of being an unambiguous declaration by the courts of their concern to protect the rule of law, constitutional principle and ultimately, individual citizens from illegal action by the government. Accordingly, it is said, this strict approach is justifiable.  Public accountability, it is asserted, ought to outweigh commercial convenience, especially given that the ultra viresrisk is a known one and can be addressed by careful legal advice, which then passes the risk on; as does transaction insurance, which is also an available option.

The MIF litigation

Facts

The facts of the MIF litigation and the legal arguments made perfectly illustrate the various policy issues arising from these competing approaches.  Successive Councils of the Corporation of Hamilton thought that it would be a good idea to promote the development of a St. Regis hotel in the city of Hamilton.  The Corporation therefore took the view that it should assist a private company, Par-la-Ville Hotel and Residences Estates Limited (“PLV”), to do so.  The eventual mechanism for such assistance was the provision of a secured guarantee by the Corporation of a bridging loan of $18 million to PLV from Mexico Infrastructure Finance LLC (“MIF”).  The security for the guarantee was a mortgage on the retained freehold interest of the development land leased to PLV pursuant to a development and lease agreement between the Corporation and PLV.  The purpose of the loan was not to fund the development project itself, but to put PLV in funds to discharge certain debts by way of anticipated expenses to be incurred in securing the equity and senior lending that would fund the development project.

The Government of the day supported the development project, proposing and ensuring the passage of motions in both Houses of the Legislature approving the issuance of the guarantee and the guarantee and mortgage documents themselves, and granting the requisite Ministerial permissions under the companies and immigration legislation, as well as under the Municipalities Act 1923.  In addition, as there had been some disquiet as to the Corporation’s capacity to issue the guarantee, the Government sought to dispel it by procuring the enactment of the Municipalities Amendment Act 2013, which contained provisions thought to address that issue.

PLV defaulted on the loan and, having issued a demand for the entire balance in December 2014, MIF accordingly sought to enforce the Corporation’s guarantee.  MIF applied for summary judgment and acting on advice that there was no defence, the Corporation acceded to a consent order, which was granted in May 2015.  Having obtained fresh legal advice, the Corporation commenced proceedings in late June 2016, over a year later, seeking to set aside the consent order, on the ground that it had no power to provide the guarantee, which it accordingly asserted to be null, void and of no effect, and the further ground that it therefore had no power to consent to its enforcement.

Law

Both the Supreme Court and the Court of Appeal agreed that the Corporation had to exercise its power to enter into a contract of guarantee in a manner that was consistent with the statutory purposes, and that the Municipalities Act 1923 properly construed in relation to the facts of the case meant that the Corporation had to act for municipal purposes.  The Court went on to say that this involved provision of services to ratepayers as part of the Corporation’s function of the local government of the City of Hamilton.  The purpose of the guarantee was to facilitate a hotel development by a commercial developer and this purpose was held not to involve the provision of services to ratepayers and therefore not to be a municipal purpose.  Accordingly, the Court found, in giving or purporting to give the guarantee, the Corporation had acted ultra viresits powers.

This was so despite the fact that successive Councils of the Corporation, as well as the Government of the day, supported the development project because it was thought it would benefit the City and Bermuda as a whole; despite the Corporation consenting to a judgment against it, having not at the time raised the ultra viresdefence; and despite the passage of time since the consent judgment had been entered.

On this point, it was argued that, given the ultra viresdefence was available at the time of the consent judgment, it ought to have been raised, and for that reason to subsequently attempt to raise it as a ground for setting aside the order was an abuse of process of the Court.  The Court of Appeal, however, held that the abuse of process rule was displaced by the ultra viresdoctrine.  The Court of Appeal followed the logic of the ultra viresdoctrine to its ultimate conclusion, holding that the consequence was that the consent judgment (being ultra vires) could not be effective or binding in any way and accepting that in any event, in principle, such a consent judgment could not in law be an adjudication to which the abuse of process rule could attach.

Although the Court of Appeal did not need to apply the test for abuse to the facts, it agreed with the Supreme Court that there was no abuse.  The Court of Appeal emphasized that MIF had been made aware of the risk at an earlier stage of the transaction by the Corporation’s lawyers at the time, that the risks of transactions with entities such as the Corporation were well known in the marketplace, that MIF seemed to have relied on the advice of the Corporation’s attorneys rather than taking their own advice, that MIF’s attitude towards effecting recovery did not appear urgent, and that MIF were sophisticated lenders who had entered into the transaction voluntarily and with a view to profit.

There is an appeal to the Privy Council pending in relation to the question whether the guarantee was ultra viresthe Corporation’s powers, but there is no appeal in relation to the abuse issue, hence the decision of the Court of Appeal stands in relation to that issue.

The position now

The case re-affirms the relevance of the ultra viresdoctrine in the modern commercial context (on the particular facts, commercial lending to a municipality or public authority).  It demonstrates that the Bermuda court will apply not merely the simple version of the doctrine, involving an analysis of the relevant statutes in order to determine whether there is power to make a particular contract, but also the more far reaching principles, requiring that the third party ask and answer a wide range of additional questions, such as whether the particular corporation:

  • has acted in good faith,
  • reasonably and rationally,
  • taking everything relevant into account and excluding from consideration everything irrelevant,
  • for proper purposes,
  • in accordance with relevant procedures, and
  • has not permitted itself to slavishly follow a rigid a priori policy without proper consideration of the individual merits of the particular decision.

It also demonstrates the court’s commitment to fundamental constitutional principle and the rule of law, even in the face of competing commercial considerations.  The consequences of this approach will no doubt unfold as time goes by.  But what is clear is that, even if the impact on commercial dealings with public corporations turns out to be deleterious, given the court’s demonstrable commitment to the concept, legislative intervention will likely be necessary to deal with any perceived difficulties.  Bermuda may have to follow the UK in this regard.  In the meantime, those contracting with public corporations ought to take particular care that a proper and comprehensive process of due diligence is undertaken.  Time will tell whether the Privy Council agrees.

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Bermuda Forwarders is merging with BEST Shipping http://rgmags.com/2018/08/bermuda-forwarders-is-merging-with-best-shipping/ http://rgmags.com/2018/08/bermuda-forwarders-is-merging-with-best-shipping/#respond Wed, 08 Aug 2018 16:46:56 +0000 http://rgmags.com/?p=6644 by Jonathan Kent The combination will result in BEST moving into Bermuda Forwarders’ Canal Lane location this year. In a letter to customers, Nick Kempe, president of Bermuda Forwarders, said the merger would enable the companies “to reduce costs, improve economies of scale and centralise operations and freight collections in one convenient and efficient location”. [...]

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by Jonathan Kent

The combination will result in BEST moving into Bermuda Forwarders’ Canal Lane location this year.

In a letter to customers, Nick Kempe, president of Bermuda Forwarders, said the merger would enable the companies “to reduce costs, improve economies of scale and centralise operations and freight collections in one convenient and efficient location”.

Mr Kempe said in a press release: “Bermuda Forwarders Ltd is thankful that after more than 60 years in the business of shipping to Bermuda it has found a trading partner it trusts in BEST Shipping to carry on the good name and established culture of full-service shipping solutions.

“The immediate goal is to consolidate physical operations in Bermuda which will create a centralised distribution hub for faster deliveries and collections.

“All overseas warehouse addresses will be maintained so both Bermuda Forwarders and BEST Shipping clients can rest assured that their freight will continue to arrive in Bermuda exactly as it presently is.”

Joe Vieira, BEST president, will be taking over the management of the combined organisations with Mr Kempe staying on in an advisory capacity through the end of the year to assist with the merger of operations.

Customers will not need to change shipping addresses and will be dealing with the same Bermuda team and overseas partners, Mr Kempe said. However, there will be some changes to banking details that will be communicated to customers in the coming weeks.

“Our merger will add the US, Canada, UK, Europe, Far Eastern, Asia and worldwide specialisation we offer to BEST’s fine North American products such as BEST Direct air express courier, expanding the variety of services available from us,” Mr Kempe said.

This article was originally published on royalgazette.com.

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Entry of the 800lb gorilla: the US is waking up to fintech http://rgmags.com/2018/08/entry-of-the-800lb-gorilla/ http://rgmags.com/2018/08/entry-of-the-800lb-gorilla/#respond Wed, 08 Aug 2018 15:41:45 +0000 http://rgmags.com/?p=6632 By Johannes Eulen While Bermudians were distracted by Cup Match, the US’s Office of the Comptroller of the Currency (OCC)- which regulates so-called “national banks” through Federal charters- published guidance on how it would now accept applications from fintech companies seeking to conduct banking business across the US, other than the taking of deposits. Bermuda’s government [...]

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By Johannes Eulen

While Bermudians were distracted by Cup Match, the US’s Office of the Comptroller of the Currency (OCC)- which regulates so-called “national banks” through Federal charters- published guidance on how it would now accept applications from fintech companies seeking to conduct banking business across the US, other than the taking of deposits.

Bermuda’s government may have thought that it got there first with its own recently passed fintech banking legislation: and it did. However, it was always unlikely that the world’s largest economy, with its well-developed start-up culture and infrastructure, would allow others to control the direction of development of fintech banking services and regulation.

In addition, the US Treasury has also now endorsed the concept of “regulatory sandboxes”, as already promulgated by the BMA; so the question now arises as to how Bermuda will be able to maintain an “edge” in both areas.

Somewhat ironically, help may come from regulators at the state level in the US, jealous of their perquisites as the current primary source of regulation for non-depositary financial services companies: an OCC fintech bank charter would relieve its holder from the complexities of state-based licensing. And, of course, one can rely upon New York’s Department of Financial Services to ensure that its views are made known: “Toddlers play in sandboxes. Adults play by the rules”. So, prepare for the customary turf war between the states and the federal bureaucracy.

Fortunately, in the BMA, Bermuda has a capable and well-respected regulator, which is long accustomed to dancing with and around the larger and more self-important primates.

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Bermuda’s new privacy legislation: Are you prepared? http://rgmags.com/2018/05/bermudas-new-privacy-legislation-are-you-prepared/ http://rgmags.com/2018/05/bermudas-new-privacy-legislation-are-you-prepared/#respond Thu, 31 May 2018 16:43:39 +0000 http://rgmags.com/?p=5556 By Kathleen Moniz, Conyers Dill & Pearman For any organisation, personal information about customers, clients, employees and suppliers is a valuable asset. But it is also a responsibility. Protecting the privacy of personal information is not just a hot topic on the internet, it is now every Bermuda organisation’s legal duty. The Personal Information Privacy [...]

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By Kathleen Moniz, Conyers Dill & Pearman

For any organisation, personal information about customers, clients, employees and suppliers is a valuable asset. But it is also a responsibility. Protecting the privacy of personal information is not just a hot topic on the internet, it is now every Bermuda organisation’s legal duty.

The Personal Information Privacy Act 2016 (PIPA), which will come into force in the latter part of 2018, affects every individual and organisation that uses personal information in Bermuda, including companies, charities and Government. It imposes a number of requirements for the safeguarding and use of personal information – and significant penalties for non-compliance – so businesses need to be prepared.

Why was PIPA introduced?

Across the world, there is a move towards increasingly stringent regulation putting the onus on organisations to protect individual privacy by safeguarding any personal information that they hold. PIPA is intended to ensure that Bermuda is part of the international ‘network of trust’ between countries with similar levels of privacy protection. For example, the European Union’s General Data Protection Regulation (GDPR) came into force this month. PIPA should ensure that Bermuda meets the GDPR’s standard of ‘adequacy’ that will allow the free flow of personal data from the EU to Bermuda without additional conditions being imposed.

What counts as Personal Information?

‘Personal information’ is any information about an identified or identifiable individual. PIPA encompasses information in both digital and non-digital (paper) forms and defines its ‘use’ very broadly to include collection, storage, disclosure, transfer and destruction.

‘Sensitive personal information’ which includes information about an individual’s race, health, family status or religious beliefs, is a separate class of personal information and is subject to enhanced protection. Employee data inevitably includes much of this information. Businesses should pay particular attention to the appropriate collection, handling and secure storage of this data.

What are the key requirements?

Safeguarding privacy means managing risks. Every organisation is required to have suitable policies and practices with regards to the protection and use of personal information and should make sure their employees are aware of them. They must:

  • Ensure personal information is held securely with ‘appropriate safeguards’ against risks such as loss and unauthorised access, and misuse such as unauthorised disclosure or destruction.
  • Use personal information in a ‘lawful and fair manner’, for specific purposes only and in accordance with the rights of individuals. Information held should not be excessive for the purpose, should be accurate and up-to-date and not held for longer than necessary.
  • Notify the Government-appointed Privacy Commissioner promptly in the event of a security breach leading to the loss, destruction or unauthorised disclosure of personal information which is likely to adversely affect individuals.
  • Assess the protection provided by any third parties engaged to use or handle the information. The primary organisation remains responsible for compliance. Personal information should not be transferred outside Bermuda without adequate checks and safeguards.

 What are the penalties for non-compliance?

PIPA establishes a number of offences and penalties for failure to comply with the Act, including fines of up to $250,000 for organisations, and up to $25,000 or imprisonment up to two years for individuals.

 How to prepare

It is a good idea to seek legal advice to ensure you are ready to meet your data protection obligations. Assistance can range from advice on legal duties and risks to privacy policy implementation.

Kathleen Moniz is an Associate in the Corporate Practice of Conyers Dill & Pearman.

This article was featured in the May 2018, RG Business Magazine.

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7 Must Have Gadgets http://rgmags.com/2018/05/7-must-have-gadgets/ http://rgmags.com/2018/05/7-must-have-gadgets/#respond Thu, 31 May 2018 13:22:20 +0000 http://rgmags.com/?p=5545 Amazon Echo Voice controlled technology has evolved tremendously over the last couple of years. These new devices provide you with a smart personal assistant, making small day to day tasks more efficient. Besides basic capabilities such as asking questions, managing your calendar, and taking notes. It can control and connect  to other Echo devices either [...]

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  • Amazon Echo
  • Voice controlled technology has evolved tremendously over the last couple of years. These new devices provide you with a smart personal assistant, making small day to day tasks more efficient. Besides basic capabilities such as asking questions, managing your calendar, and taking notes. It can control and connect  to other Echo devices either for an integrated experience and is capable of controlling smart devices, such as your lights or tv, giving you full control of the room. With a growing range of products that can connect to the Echo, it’s capabilities are promising.

     

    1. Yoga Tablet 3 Pro

    With powerful speakers and the ability to project cinema-like video onto any surface, this tablet doubles as the perfect portable projector. Presentations and business meeting made easy, no need to rely on the bulky (and often outdated) projector in the room, and no limitation for those on the go or on the road.

     

    1. Wemo Wi-Fi Smart Plug

    This smart plug uses your Wi-Fi network to provide wireless control of your lights or appliances through your smartphone, simply connect your device to the smart plug and then into an electrical outlet, no installation required. This device can be integrated with Amazon’s Alexa, giving you the ability to use voice control instead of your phone.

     

    1. Satechi Multiport Adapter

    This sleek device expands the number of ports and slots on your laptop computer. It provides 4k HDMI video output, SD/Micro SD card readers USB 3.9 type A Ports and passthrough Type-C charging, to avoid any connection for all your connection needs.

     

    1. iKlips Duo +

    This smartphone flash drive enable you to transfer files from one device to another in a safe and secure manner, there’s no internet access so your data is never sent through third parties. It also doubles as extra storage if you’re running out of space in your smartphone.

     

    1. Sonos Wireless Speakers

    This wireless sound systems allows you to fill as many rooms as you desire with high quality audio without the hassle of cables. Their app allows speakers to be connected and to play the same audio through various rooms or a large space, or can be programmed to different stations. Ideal for business who need a sound system but don’t want to deal with cables or installing a sound system.

     

    1. Satechi Laptop Stand

    This lightweight and portable provides comfort and organization no matter where your go. Using a laptop stand will  position your device at a better angle, thus providing a better posture and avoiding neck, pain and wrist pain. It will also keep your laptop cool and prevent overheating.

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    It’s “Just Good Business” to fight global crime http://rgmags.com/2018/05/its-just-good-business-to-fight-global-crime/ http://rgmags.com/2018/05/its-just-good-business-to-fight-global-crime/#respond Wed, 30 May 2018 20:01:23 +0000 http://rgmags.com/?p=5541 Bermuda launched a public awareness campaign this year that calls on residents to join a national effort to combat global financial crime. The “Just Good Business” campaign (http://www.goodbusiness.bm/) highlights efforts underway by the government, responsible authorities, and Bermuda-based international and local businesses to ensure the island meets the highest standards for anti-money-laundering (AML) and anti-terrorist-financing [...]

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    Bermuda launched a public awareness campaign this year that calls on residents to join a national effort to combat global financial crime.

    The “Just Good Business” campaign (http://www.goodbusiness.bm/) highlights efforts underway by the government, responsible authorities, and Bermuda-based international and local businesses to ensure the island meets the highest standards for anti-money-laundering (AML) and anti-terrorist-financing (ATF).

    The campaign is supported by the National Anti-Money Laundering Committee (NAMLC), Bermuda Monetary Authority (BMA), and Bermuda Business Development Agency (BDA), along with numerous major industry groups. These include: the Association of Bermuda International Companies (ABIC), the Association of Bermuda Insurers & Reinsurers (ABIR), the Bermuda Bankers Association (BBA), the Bermuda International Long Term Insurers & Reinsurers (BILTIR), Bermuda Insurance Management Association (BIMA), Bermuda Chamber of Commerce, and the Bermuda Stock Exchange (BSX).

    As well as educating on the importance of AML/ATF measures—such as filling out “Know Your Customer” (KYC) documentation at banks and other paperwork—the campaign is also a call to action: individuals and organisations are encouraged to find out what their legal obligations are and to report suspicious financial activity. Authorities depend on this information, known as “suspicious activity reports,” or “SARS.”

    How do you recognise suspicious activity? Here are some signs:

    • If you work in a money service business and a customer makes regular transactions by cash to different recipients
    • If your customer doesn’t know the recipient or purpose of their transaction or only wants to see a particular “friendly” teller/employee
    • If you work in property/car insurance and a customer cancels insurance and seeks a cheque as reimbursement after paying in cash
    • If you work in the travel industry and a client pays for high-price tickets last minute and in cash

    To file a SAR, in confidence, please contact the Financial Intelligence Agency (FIA) at 441/292-3422 or https://www.fia.bm.

    This article was featured in the May 2018, RG Business Magazine.

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