HG.org Legal Resources

Banking and Finance Law Articles

Articles written by lawyers and expert witnesses worldwide
explaining the different aspects of Banking and Finance.


What is the Purpose of UCC Financing Statements?

  June 14, 2017     By HG.org
Uniform Commercial Code is a form of filing in regards to liens. These are connected to financial lenders who have an interest in an asset. This...

Panama as an Added Value to SEM Companies: A Reflection 10 Years Later

  June 7, 2017     By Icaza, Gonzalez-Ruiz & Aleman
Ten years have elapsed since the enactment of Law 41 of 2007, whereby the Special System for the establishment and operation of Multinational...

Expert Witnesses and the Securities Fraud Case Certification

  June 2, 2017     By HG.org
Fraud is often a very damaging crime to those affected. The theft of information or funds from a company tends to harm multiple persons, and it...

How Revenue is Accrued without Products or Services

  June 2, 2017     By HG.org
Revenue is the backbone of any company. Without accruing money, the business will fail unless it is in the game for other means. Some...

New Regime to Register the Beneficial Owners of Cayman Islands’ Companies and LLCs

  May 30, 2017     By Loeb Smith
In line with the transparency and compliance efforts that made the Cayman Islands one of the early adopters of the Common Reporting Standard...

ESOP (Employee Share Ownership Programme): The Latest Craze in Hungary

  May 22, 2017     By Jalsovszky Law Firm
ESOP (Employee Share Ownership Programme) entities have been springing up like mushrooms in Hungary since last year, and the acronym itself has...

Receipt Clause - Conclusive Evidence of Payment or Not ?

  May 18, 2017     By Angela Wang & Co.
In most loan agreements and sale and purchase agreements for properties, it is common to include a clause which states that one party has...

Preparing for the Second Round of Startup Funding in Israel

  May 16, 2017     By Barnea & Co. Law Offices
Funding your startup company is an inexact science. The first round of funding helps get your company established, but often leads to a...

VAT and Selective Tax in Saudi Arabia

  May 8, 2017     By Hazim Al Madani Law Firm
Recently, some questions and discussions have been raised on the Saudi street as well as through the audio and visual media on the decision of...

IRS Assesses Another 150% Civil FBAR Penalty

  May 4, 2017     By Brown, PC
The IRS has asserted multiple maximum civil FBAR penalties against Ashvin Desai, who failed to disclose the existence of offshore accounts or...

Financing Liabilities in Mining Company Compliance in Indonesia

  April 25, 2017     By AM Oktarina Counselors at Law
In international business transaction, it is very common for entrepreneur to conduct the financing or loan transaction. This transaction...

New Rights, Equality and Citizenship Work Programme and Financial Services User Group to Be Renewed in EU

  April 18, 2017     By KCG Partners Law Firm
The European Commission adopted the ’2017 Rights, Equality and Citizenship Work Programme’ on 1 March 2017.

Is the Legal Framework the Major Hindrance for the Development of Islamic Finance in Kazakhstan?

  April 12, 2017     By GRATA International
The question whether or not Islamic finance will have a future in Kazakhstan is not an easy one to answer. There is definitely strong support...

Banking Laws in Egypt

  April 11, 2017     By Youssry Saleh Law Firm
Banking industry in Egypt is one of the oldest and largest industries in the region that plays a critical role in the development process in...

Doing Due Diligence: Private Investigation of Your Business Partners and Contracts

  April 5, 2017     By HG.org
Due diligence is necessary when partners and contracts are involved in a business. This is due to certain paperwork, processes and the initial...

Can My Student Loan Be Discharged if I Become Disabled?

  April 3, 2017     By HG.org
When someone has become disabled through injury, illness or other means, it is possible that student loans may be discharged completely.

Debt Collection in Bosnia-Herzegovina

The legal success is crowned by the winning verdict. However, the economic success is only brought about by the implementation of this judgment....

What Is Crowdfunding? (And How Can It Help Your Startup?)

Crowdfunding is an innovative way to raise money for a project by pooling small contributions from a large number of people.

Recent Updates on the Duty on Suitability and Mis-selling in Hong Kong

The Court of Final Appeal in DBS Bank (Hong Kong Ltd) v Sit Pan Jit has recently handed down reasons for dismissing Sit's application for leave...

Digital Incorporation of Companies in Kenya

You can now incorporate your company in Kenya online using the Attorney General's portal in eCitizen.

What Is 506(C) Offering and What Does It Mean for Financing Your Company?

A New Day For Startups Seeking Capital

85th Texas Legislature Considers Measures to Protect Elders from Financial Exploitation

The Texas Banker's Association recently prepared their legislative agenda for the new session, and at the top of the list was work on...

Individual Investors Can Seek to Recover Losses through FINRA Arbitration

For individual investors, the Financial Industry Regulatory Authority’s (FINRA) arbitration process provides an opportunity to recover...

Operating a Credit Bureau in Ghana

The purpose of this article is to describe the statutory requirements for operating a Credit Bureau under Ghanaian law. Credit Reporting Act,...

Operating a Forex Bureau in Ghana

Relevant statutory guidelines for operating a Forex Bureau under Ghanaian law are found in the Foreign Exchange Act 2006 (Act 723).

New Money Lenders Licensing Rules to Prevent Malpractice

In recent years, there have been an increasing number of police reports from members of the public in Hong Kong who suspected that they had...

Private Investigator on Cellphone Spyware

  By HG.org
There are all types of various private investigator tools that can help track information, including cellphone spyware. These tools may help...

All Is Not Lost if You Have Been Scammed by a Fraudulent Broker

The rising level of investment scams poses a major threat to the financial security of many individuals. The speed with which the fraudsters...

A Brand New Law On Movable Pledge Especially For SMEs To Enjoy - Turkey

Recently, on January 1, 2017, the Law on Movable Pledge in Commercial Transactions[1] (“Law”) entered into force and prevailed the Law on...

What Is Power of Attorney in New Jersey?

Perhaps one of the most vital, and frequently neglected, aspects of personal and estate planning is legal and financial protection, in the event...

Using a Private Investigator to Locate Hidden Assets

  By HG.org
When a person believes that another is hiding assets that he or she may have an interest in, he or she may hire a private investigator to help...

What Is Due Diligence - A Private Investigator's Perspective

  By HG.org
Due diligence is the reasonable inquiry into a business proposal or through the process of buying or selling something of value. Through this...

Articles of the Civil Code of Costa Rica applied to the factoring

Factoring -also known as assignment of invoices or discount of invoices- is one of the most widely used financial tools in Costa Rica. This...

The Trust in Costa Rica: A Matter of Confidence

When investing money, when looking for financing, and even, when you want to safeguard your heritage or own assets for the benefit of your loved...

Duties of Loan Repayment to Banks in UAE

Bank loans can be the stepping stone to a new life for many people, especially when it comes to home loans. However, the contract for such a...

Property Options Australia: "Call" and "Put" Explanation

One of the common alternatives for investors is a stock option.

Aztec Oil & Gas Securities Sales Investigated

The Aztec Oil & Gas Investor Center is the resource for investors in oil and gas programs organized by Aztec Oil & Gas, an oil-and-gas company...

Establishment and Functions of the Central Securities Depository in Ghana

The Central Securities Depository (CSD) functions in a form of a “bank” for securities where all transactions (debit and/ or credit of...

Identification of Debtor only under Exceptional Circumstances in The Netherlands

Unfortunately, it often happens that a creditor misses the boat because the debtor keeps their assets in a legal entity. The debtor may be...

Stamp Duty in Cyprus

There have been recent amendments to the Stamp Duty Law of Cyprus (Law 19/1963) (the “Law”) with the aim of modernising and simplifying the Law....

First Conviction Pursuant to Israeli “FCPA” – Following the Footsteps of the US

It is sometimes difficult to identify historical milestones as they occur, especially if they are small and sometimes may seem almost...

Seven Legal Issues Facing Startup Software Companies

You have an idea for a new software program and a passion for business, but will that be enough for you and your software startup company to...

Simplifying of Contracting Pprocedures for Services Exporters in Ukraine

From January 2017 the procedure of agreement conclusion will be simplified for services exporters.

Mortgage Rates Continue To Fall in Germany – Get-Out-of-Jail-Free Card for Loans from June 10, 2010 Onwards

Mortgage rates continue to fall. In view of this trend, withdrawing from a real estate loan that was taken out from June 10, 2010 onwards could...

Cyprus Investment Firms (CIFs): Directors’ Liabilities in Case of an Offense

The Board of Directors of a CIF shall consist of at least two executive Directors and two independent non-executive Directors. The majority of...

Assistance With All Matters Related to Corporate Governance

Corporate governance is the structure of rules, practices, and processes that guides the way a company communicates with stakeholders, achieves...

Beware of Investment Advisors with Exaggerated Credentials

When choosing an investment advisor to help grow your nest egg or investment portfolio, you need to choose carefully. You have a lot to lose,...

Regulation of Payment Systems and Payment Services in Kazakhstan

The former Law of the RK, “On Payments and Transfers”, did not fully regulate interrelations of all subjects of the payment services market....

The U.S. Supreme Court Clarifies the Definition of Insider Trading – A Big Win for Prosecutors

For the first time since 1983 when the Supreme Court issued its decision in Dirks v. SEC, the Supreme Court yesterday clarified what “personal...

Legal Insight - Payment of Dividends by a Cayman Islands Company

  By Loeb Smith
Cayman Islands holding companies, operating companies, and investment funds structured as companies pay dividends and make other distributions...

GAPSME: General Accounting Principles for Small and Medium Enterprises in Malta and the EU

The EU Single Accounting Directive 2013/34/EU, which repealed the 4th and 7th Accounting Directives on Individual and Consolidated Accounts,...

MFSA Issues Discussion Paper on Investment-Based Crowdfunding in Malta

With access to finance becoming more difficult for start-ups and small businesses, the evolution of crowdfunding is becoming an emerging...

Debt Collection in Bosnia and Herzegovina

Poor payment discipline in Bosnia and Herzegovina is a burning problem of a modern society faced by all legal entities, but also individuals....

Subrogation in Loan Agreements Under Italian Law

Subrogation in loan agreements (“surroga del mutuo” or “portabilità del mutuo”) is an innovation introduced in Italy by the Budget Law of 2008,...

MFSA – Consultation on Proposed Amednments to the Investor Compensation Scheme Regulations in Malta

On the 4th November 2016, the MFSA issued a consultation document on amendments being proposed to the Investor Compensation Scheme Regulations...

How to Recognize Investment Fraud

  By HG.org
There are various forms of fraud that plague the world in terms of damage to systems, financial gain, personal injury and many other issues as...

European Securities and Markets Authority: Investor Protection Under MIFID II

Ahead of the deadline for the member states to transpose MIFID II into national legislation which is now set for 3 July 2017 deadline for the...

Know your Client - Romanian Corporate Governance

KYC or know your client seems to be a mantra repeated by many institutions these days, whether is it from banks of financial authorities the...

How to Establish and Incorporate a Limited Liability Company in Romania Using a Corporate Lawyer in Bucharest

What seems to be relevant in the present article is the current legislation in Romania which allows any private or corporate entities to...

Cypriot Citizenship by Investment Revised Scheme, Approved by the Cabinet Early September 2016

The main goal of the revised scheme is a further encouragement of Immediate Foreign Investments.

New and Updated Regulation on the Naturalisation (Citizenship) of Investors in Cyprus by Investment

The Council of Ministers of the Republic of Cyprus, on the 13th of September 2016 has issued an amended Regulation in relation to the Scheme for...

What You Need to Know About Franchise Agreements in Italy

Franchise can be a wonderful approach to achieving success in life, as for many people owning a franchise can be a less risky alternative to a...

Possible to Withdraw from Brokerage Contracts Concluded By Email in Germany

It has since become common for contracts with real estate brokers to be concluded online or by email. It is possible to withdraw from these...

"Failure to Use" as a Legal Ground to Cancel the Registration of the Trademark ‘’McDonald’’ in Armenia

In 2014 WEST LLC company registered in the Federation of Russia, has submitted a number of applications to the Administrative Court of RA,...

Cyprus Property Transfer Fees and Immovable Property Tax Reduction

The law reducing the Cyprus Property Transfer Fees for transfers applies only to the first sale of a property and it abolishes or reduces...

Benefits of Cypriot Citizenship

Being a Cypriot citizen is an advantage which entails a plethora of benefits also deriving from the Membership of the Republic of Cyprus in the...

Boost for Consumers Withdrawing from Loans in Germany

Guidance on the right of withdrawal featuring the footnote “Nicht für Fernabsatzgeschäfte” (not for long-distance transactions) is ineffective....

Loan Withdrawal in Germany: BGH Pulls Rug Out from Under Banks and Savings Banks

According to a ruling of the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, from July 12, it is possible to effectively withdraw...

6 Circumstances Where an LLC or Corporation Won’t Provide Asset Protection for Personal Wealth

Many business owners establish their enterprises as a limited liability company (LLC) or corporation for asset protection purposes.

Bank in breach of duty of care in the case of excessive lending in the Netherlands?

In the current economic climate, more and more people in the Netherlands have problems repaying consumer credits. To protect consumers, lenders...

Officers’ Remuneration in Israel – Are New York and London following TASE’s lead?

Nearly every discussion on the status of the Tel Aviv Stock Exchange (TASE) questions whether Israel’s corporate governance rules have...

4 Things to Know About the Sharing Economy in Israel

It is possible to believe the innovations of the Sharing Economy are due to a collective and empowering business model that places the emphasis...

Thailand Board of Investment– International Headquarters and International Trading Centres

Thailand’s reputation is that of a business-friendly country and together with foreign investment has made it a leading centre of trade in...

Withdrawal in Germany: Save Several Thousand Euros at the Last Minute

Consumers could potentially save several thousand euros at the last minute by withdrawing from their loans. However, the withdrawal period is...

The Way to the European Standards: Ukraine Improves Work of Small and Medium Business

Changes to the legislation of Ukraine for small and medium-sized businesses.Recent projects of changes in legislation concern primarily small...

From Business Tax to Value Added Tax – Further Tax Reform in China

On 24 March 2016, the PRC Ministry of Finance (“MOF”) and the State Administration of Taxation (“SAT”) jointly released the Notice on the...

Still Possible to Withdraw from Loans in Germany after June 21

It is still possible to withdraw from a large number of real estate loans. The end of the withdrawal period only concerns loans that were...

Loan Withdrawal to Come Before BGH Again in Germany

While the right of withdrawal for real estate loans concluded between 2002 and 2010 is set to come to an end on June 21, the courts will...

Sukuk (Islamic) Bond Issuance in Turkey

In this memorandum, the mechanics of Sukuk Issuance is broadly outlined and some key information is provided about the regulations on sukuk...

Get-Out-of-Jail-Free Card Still an Option in Germany

The right of withdrawal for real estate loans concluded between November 2, 2002 and June 10, 2010 is set to come to an end on June 21, 2016. In...

Purchasing a Business with Seller Financing

It is often the case that a purchaser of a business does not have the resources for a full cash sale and will request that the seller finance...

Last Chance to Use Get-Out-of-Jail-Free Card – Loan Withdrawal in Possible Until June 20 in Germany

Anyone who still wants to make timely use of their get-out-of-jail-free card before June 20, 2016 and withdraw from a loan can benefit from low...

Cayman Islands Introduce Limited Liability Companies as New Corporate Vehicle

  By Loeb Smith
The Cayman Islands have now brought into effect the long-awaited Limited Liability Companies Law, 2016 (the "LLC Law") which introduces a new...

Should Bankruptcy Stop You from Getting a Personal Loan?

Bankruptcy is not the end of the road in getting a loan. It’s neither a financial slaughter house. The old golden days when one would lose hope...

Purchasing a Ukrainian Bank: Obtaining Approval from the National Bank of Ukraine

In 2015 Ukrainian legislation related to the acquisition of a significant shareholding in a bank was substantially amended. This was due to the...

Loan Withdrawal in Case of Linked Transaction in Germany: BGH Ruling Fails to Materialize

The Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, was supposed to rule on May 31 on withdrawing from a loan in the case of a...

Features of Registration of Foreign Investments in Ukraine

Foreign investments are invested by foreign investors’ values in objects of investment activities in order to make a profit or to achieve social...

Final Stretch for Loan Withdrawal in Germany

Those who still want to withdraw from real estate loans concluded between 2002 and 2010 should take action now while the right of withdrawal is...

Tax Evasion in Germany: Voluntary Declaration Requires Professional Assistance

The legislature has deliberately maintained the option for tax dodgers to return to a state of tax compliance by means of voluntary disclosure...

Loan Withdrawal in the Case of Linked Transactions in Germany

Loans can be tied to a specific purpose when they are issued. A case involving withdrawal from a loan tied to what is termed a “verbundenes...

Loan Withdrawal in Germany: OLG Frankfurt Once Again on Side of Consumers

Just before the so-called “ewiges Widerrufsrecht” [perpetual right of withdrawal] was set to lapse, a ruling of the Oberlandesgericht (OLG)...

Withdraw from Loans, Reduce Interest Burden in Germany

Playing the get-out-of-jail-free card and withdrawing from expensive real estate loans is still possible until June 21 without consumers having...

Last Legs For Get-Out-of-Jail-Free Card – Loan Withdrawal Possible Until June 21, 2016 in Germany

Anyone who withdraws from a real estate loan concluded between 2002 and 2010 stands to potentially benefit from low interest rates and save a...

Withdrawal Worthwhile Both in the Case of Outstanding and Repaid Loans in Germany

Withdrawal can prove to be an extremely attractive proposition from a financial perspective, even for consumers whose loans have already been...

Getting a Permit for Permanent Residence in Ukraine by a Foreigner Based on Investment

The most plausible reason of getting an immigration permit is making investments to the Ukraine economy by a foreigner, that is a convertible...

Redefining the Professional Investor in Hong Kong

In order to better protect the interests of professional investors particularly individual professional investors, the Securities and Futures...

A Maltese Solution for Swiss Asset Managers

Until very recently the Swiss asset management industry relied exclusively on self-regulation and was allowed to operate and develop somewhat...

Important Factors of Greenfield Investments in Hungary

In a classical sense, a “greenfield investment” is the construction of a new industrial unit in a territory previously used as agricultural area.

Myanmar Opening to the World

In November 2015, Myanmar had held a successful national election, which was a significant milestone towards a transparent and stable government.

International Investments in Panama

Panama is a land blessed by God, where you can enjoy on the same day the tropical heat of its beaches and the fresh air from the high lands.


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