Banking and Finance Law Articles

Articles written by attorneys and experts worldwide discussing legal aspects related to Banking and Finance.

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Whistleblowers Helping the Public By Exposing Fraud

  April 14, 2014     By The Evans Law Firm
The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted to assist the government with discovering financial fraud. A recent SEC whistleblower received a $14 million dollar reward for reporting a real estate scam.

Bid Rigging in Turkey

  April 14, 2014     By Barlas Uyar Eraslan Law Firm
Bid rigging is mostly a current issue at public institutions however it has become widely encountered at public sector as well ant it surely causes serious financial damage.

Maintenance and Preservation of Partnership Structure in Turkiash M&A Transactions

  April 14, 2014     By Herdem Attorneys at Law
The one of the most significant principle in an M&A transaction is “the principle of maintenance of partnership structure” (or the maintenance principle) under Turkish Commercial Code.

Crowd Funding in Turkey: The New Panacea for the Credit Shortages?

  April 8, 2014     By Herdem Attorneys at Law
It is convenient neither for the consumers nor for the producers to get accustomed to a global financial market which is marked by liquidity shortages after a decade of growing global money supply to be present virtually in every part of the globe.

Transfer Agents in the Going Public Process

  April 4, 2014     By Hamilton & Associates, P.A.
Transfer agents play a key role in the going public process. Transfer agents are the record keeper for a company’s securities when it goes public. Share ownership is reflected on the issuer’s shareholder list. In addition, transfer agents issue and cancel certificates to reflect changes in the ownership of securities and act as an intermediary for the company and its stockholders during the going public process.

Accredited Investors l Rule 506 Requirements

  April 4, 2014     By Hamilton & Associates, P.A.
Regulation D under the Securities Act of 1933,as amended (the “Securities Act”), sets forth a safe harbor from the registration statement requirements of the Securities Act for certain private placements of securities. In connection with these exemptions, offerings made in reliance upon Regulation D, Rule 504, 505 and 506 can be made to up to 35 non-accredited investors and an unlimited number of “accredited” investors.

Section 4(1) Exemption

  April 4, 2014     By Hamilton & Associates, P.A.
Rule 144 (“SEC Rule 144”) under the Securities Act of 1933 (“Securities Act”) provides a safe harbor from the registration provisions of the Securities Act for resales of restricted and control securities by persons other than the issuer if all conditions of the rule are complied with.

Form 8K Reporting of Reverse Mergers

  April 4, 2014     By Hamilton & Associates, P.A.
The Securities and Exchange Commission (“SEC”), Division of Corporate Finance frequently notes disclosure deficiencies in the disclosure of reverse merger transactions in on 8-K Filed. This post summarizes SEC staff comments in response to reports on Form 8-K reporting of reverse mergers with public shell companies or similar transactions that result in a public company no longer being designated as a shell company.

US Listings For Foreign Issuers

  April 4, 2014     By Hamilton & Associates, P.A.
Typically, foreign companies seeking to raise capital attempt to obtain public company status. Foreign companies that go public in the U.S. may complete a public offering by registering securities with the Securities and Exchange Commission (“SEC”) under the Securities Act of 1933, as amended (the “Securities Act”) or by registering a class of securities under the Securities Exchange Act of 1934 (the “Exchange Act”).

OTCMarkets OTCQX l Dual List USA

  April 4, 2014     By Hamilton & Associates, P.A.
The OTCMarkets OTCQX offers foreign issuers seeking to go public in the U.S. an appealing alternative to listing on a stock exchange. Foreign issuers whose securities are listed on a foreign stock exchange that qualify for the exemption from the reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),

Private Placement Memorandums 101

  April 4, 2014     By Hamilton & Associates, P.A.
A private placement memorandum (“PPM”) is also referred to as a confidential offering circular or memorandum. PPM’s are typcially prepared by securities lawyers who assist private companies with their going public transactions. PPM’s are used to raise capital by selling either debt or equity in an exempt offering that has not been registered with the SEC. These exempt offerings are often called private placements.

SEC Registration Statements l Question & Answer

  April 4, 2014     By Hamilton & Associates, P.A.
Addressing the most common questions we receive about going public using Form S-1 and the SEC registration statement process.

Section 16 Reporting

  April 4, 2014     By Hamilton & Associates, P.A.
Shareholders and management of private companies are often unaware of their reporting obligations upon completion of a going public transaction. Section 16(a) of the Exchange Act of 1934 (the “Exchange Act”) requires the reporting of beneficial ownership by the officers, directors and stockholders who hold stock directly or indirectly, beneficially owning more than 10% of the company’s common stock or other class of equity securities registered under Section 12(b) or 12(g) of the Exchange Act.

The JOBS Act’s Amendments to Form D

  April 4, 2014     By Hamilton & Associates, P.A.
On July 10, 2013, the SEC adopted final rules as required by Title II of the JOBS Act, which directed the SEC to eliminate the ban on general solicitation and advertising for certain offerings conducted under Rule 506 of Regulation D, of the Securities Act of 1933, as amended (the “Securities Act”) provided the securities are sold only to accredited investors.

Sanusi’s Suspension: Legal or Illegal - Nigeria

  April 4, 2014     By 1st Attorneys
The suspension of erstwhile Governor of Central Bank of Nigeria, Sanusi Lamido Sanusi by President Goodluck Jonathan has generated a lot of heated legal debate on the legality or illegality of the suspension.

Turkish Banking Sector is Still Resilient

  April 3, 2014     By Herdem Attorneys at Law
Recently one of the world renowned leading credit rating institutions has stated that Turkish banking industry has the necessary liquidity capacity to pay back the short term debts.

Current Status of Temporary Capital Restrictions in the Cyprus Banking System

  April 3, 2014     By Harris Kyriakides LLC
Cyprus continues to implement a series of temporary capital restrictions measures, with the aim to support the banking sector and safeguard the stability of the Cypriot banking system. The temporary Cyprus restrictive measures were implemented through decrees issued by the Minister of Finance pursuant to the provisions of the Restrictive Measures on Transactions in case of Emergency Law of 2013.

New Age for Pension Funds in Turkish Market

  April 3, 2014     By Herdem Attorneys at Law
Turkey has been incrementally applying for new implementations on the grounds of mitigate the current account deficit. New Individual Retirement System is one of the most efficient way for this new austerity plan.

Turkey and Aircraft Financing Junction: Sukuk Issuing

  March 24, 2014     By Herdem Attorneys at Law
Despite a slowdown in 2013 with 13% decline by sukuk volume, it is most likely to witness a distinct expand in next year since it will lie beyond Gulf region.

Whistleblower Reward Is $63.9 Million In JP Morgan Mortgage Fraud Case

  March 17, 2014     By The Evans Law Firm
A whistleblower will receive $63.9 million for providing information to the government that lead to a recovery.

Base Erosion and Profit Shifting Action Plan: Effects on PE Funds

  March 17, 2014     By Herdem Attorneys at Law
BEPS ( "Base Erosion and Profit Shifting") is a tax strategy which is driven by asymmetries and mismatches amongst different jurisdictions in terms of tax issues.

Concessions in Albania / PPP in Albania

  March 11, 2014     By LPA Law Firm Albania
According to the assessment, the application of the laws of the PPP / concession in Albania is estimated to achieve "high efficiency" compared to international standards, the implementation of AML being a strong pillar and institutional frameworks and policy pillars were weak.

Democratic Republic of the Congo: Delay in Application of Uniform Act on Business Accounting Systems

  March 11, 2014     By Emery Mukendi Wafwana & Associes
The entry into force of the OHADA Treaty in the Democratic Republic of the Congo (DRC) resulted in the immediate application of the Treaty, its Regulations and Uniform Acts. It also led to the repeal of any DRC anterior legal instruments contrary to the Treaty and its Uniform Acts.

Turkish Banking Industry Outlook 2014

  March 10, 2014     By Herdem Attorneys at Law
The Turkish Banking sector is expected to operate in crunchy year in 2014. The concerns related with Fed's actions that might result with the end of monetary expansion clearly signals that the year 2014 might be tough one for the emerging economies.

Democratic Republic of the Congo – OHADA: Delay in Uniform Act to Regulate Company Accounting Systems

  March 10, 2014     By Emery Mukendi Wafwana & Associes
DRC: Delay in the application of the Uniform Act organizing and harmonizing company accounting systems.

Democratic Republic of the Congo: Impact of the “Doing Business” Report on Tax and Duties Payments

  March 10, 2014     By Emery Mukendi Wafwana & Associes
Progress towards tax and duties payment in the Democratic Republic of the Congo in connection with the “Doing Business Report”.

The Contracts (Rights of Third Parties) Bill, 2014 proposes changes to Cayman contract law

  March 4, 2014     By Loeb Smith & Brady
The Cayman Islands Government has published a new bill that will modify contract law in the Cayman Islands when it is passed into law by mid-March 2014.

Angel Investment, Private Equity and Venture Capital in Turkey

  February 28, 2014     By Herdem Attorneys at Law
Throughout the last decade Turkey had managed to transform itself in to an economic hub in its region. Its high rates of economic growth combined with a stable social and political environment had generated an investor friendly atmosphere.

Jurisdictions with Strategic Deficiencies Identified by FATF

  February 27, 2014     By CSB Advocates
On 21st February 2014, the MFSA issued a Notice to Financial Services Licence Holders informing them on the Financial Action Task Force (FATF) identifying jurisdictions with strategic deficiencies, as outlined in the recent publication of two public documents. These countries are considered to have strategic deficiencies regarding anti-money laundering& and combating the financing of terrorism (AML/CFT).

A Brief Look into Turkish Promissory Note System

  February 27, 2014     By Aydin Orhan Law Firm
The aim of this article is to provide an insight on the Turkish negotiable instrument system and promissory notes in particular. The article outlines the important facts regarding the promissory notes.

Legal Outlook of Turkish Private Equity Market

  February 26, 2014     By Herdem Attorneys at Law
Companies that invest in the private equity market bear high risks but also the possibility of high returns. Usually, private equity companies exit after about three to seven years. However, Turkish private equity companies tend to invest for longer periods. Private equity capital is also preferred for buyouts, which gives the investor company the opportunity to take control of the investee company.

Think You Got Game? Try Solving a Criminal Tax Problem.

  February 26, 2014     By DeBlis & DeBlis
See body.

HK New Companies Ordinance : Changes to Directors’ Duties

  February 25, 2014     By Angela Wang & Co.
The entirely new Companies Ordinance (Cap 622) (“New CO”) will come into force on 3 March 2014. We highlight the New CO’s major changes relating to registration of charges and private limited companies.

China Simplifies Rules on Foreign Exchange Administration of Foreign Direct Investment

  February 17, 2014     By UB & Co. Attorneys and Counselors
On May 10, 2013, State Administration of Foreign Exchange (“SAFE”) released the “Regulations on the Foreign Exchange Administration of Domestic Foreign Direct Investment” (hereinafter the “Regulations”), which came into effect on May 13, 2013.

Licensing for Software as a Service (SaaS) in the UAE

  February 15, 2014     By Prudential Middle East
In the UAE, because of the lack of a comprehensive set of laws for the provision of cloud computing services, the relationship between the parties is largely governed by general laws and trust

slamic Finance: Theory and Practice

  February 15, 2014     By Prudential Middle East
The Islamic financial system refers to financial market transactions, processes and services that conform to Islamic laws and codes of practices.

A Lucrative Exit by PE Funds: Recap Strategy in Turkey

  February 14, 2014     By Herdem Attorneys at Law
Private equity becomes more popular in Turkey since majority of companies intend to utilize private equity funds.

Attractive and Reliable Investments in Ukrainian Financial Sector for Foreigners

  February 14, 2014     By Kydalov & Partners
Ukraine is a democratic country with European values. Many foreign investors have considered Ukraine as a growth market in different business fields. Although on the world stage Ukraine is positioned as a high risk country, there are many possibilities of high returns on investments.

Settlement of Investment Disputes and Provisional Measures

  February 13, 2014     By Herdem Attorneys at Law
Protecting foreign investors’ rights in a country is a significant problem both for investee country and investor. In order to solve this, an international mechanism has been brought which is called ICSID Convention (International Centre for Settlement of Investment Disputes) so that disputes between the contracting state of ICSID Convention and foreign investor can be settled before a special tribunal established according to Convention provisions or conciliation commission of ICSID.

More U.S. Taxpayers Admit to Secret Swiss Accounts

  February 8, 2014     By DeBlis & DeBlis
Why Swiss Bank Clients Who Can’t Stand the Heat Are Getting Out of the Kitchen.

New Corporate Governance Standards for Regulated Mutual Funds in the Cayman Islands

  February 4, 2014     By Loeb Smith & Brady
In response to feedback from its consultation with stakeholders in the Cayman Islands financial services industry (including feedback on a draft Statement of Guidance on Corporate Governance for Regulated Mutual Funds), the Cayman Islands Monetary Authority (“CIMA”) has formally issued, on 13 January 2014, a final Statement of Guidance on Corporate Governance for Regulated Mutual Funds (the “Statement of Guidance”).

Failing to File a Tax Return and that “Wascally” Little Word (not "Wabbit") Called Willfulness

  February 1, 2014     By DeBlis & DeBlis
Nary a day goes by that a client doesn’t ask me the question, “Why am I being charged criminally with failing to file my tax returns? Lots of people get behind on their taxes and fail to file their returns for a few years, but they are not prosecuted. Why me?”

Home Sweet Home for International Tax Collection

  February 1, 2014     By DeBlis & DeBlis
Recently, I received a panicked call from a client being detained at a major metropolitan airport. The client, a nonresident U.S. taxpayer, owed money to the Internal Revenue Service. Upon investigation, I learned who was responsible for detaining him: none other than the IRS. Under what authority? A two-year-old program designed to target nonresident delinquent taxpayers who travel to and from the United States.

Don’t Forget to Add the Salt When Cooking Up an IRS Voluntary Disclosure

  February 1, 2014     By DeBlis & DeBlis
New Jersey Notice of Federal Tax Change Requirements

Managing changes in Material Interest in Maltese Listed Companies: A Survivor’s Guide

  January 27, 2014     By CSB Advocates
The Regulatory Landscape: Whilst the Maltese Companies Act (Chapter 386, Laws of Malta) (the “Act”) provides the general legal framework for the creation and operation of public companies, listed companies are also subject to the Listing Rules (the “Listing Rules”) issued by the Listing Authority in virtue of powers granted by Articles 11 and 13 of the Financial Markets Act (Cap.345 of the Laws of Malta).

Private Equity Investments in Family Owned Businesses in Turkey

  January 27, 2014     By Herdem Attorneys at Law
Buy-outs of family/private firms represent a significant part of the overall buy-out market in Turkey.

Mezzanine Capital in Turkey; A Breakthrough Growth or A Simple Alternative in Financing

  January 26, 2014     By Herdem Attorneys at Law
Financial system is wide range of new alternative instrument for developing countries and Turkey heads toward new financial system in this regard.

Section 6050I – A Weapon In The IRS’s Criminal Arsenal

  January 24, 2014     By DeBlis & DeBlis
Congress enacted section 6050I to attack and unearth the underground economy. As enforced, however, section 6050I has been used as a weapon in the IRS’s criminal arsenal.

MiFID II – Taking it to the next level

  January 23, 2014     By CSB Advocates
After two years of negotiations, on 14th January 2014 a high-level agreement was reached between the European Parliament, the Council and the Commission on the updated rules for markets in financial instruments which are designed to address certain shortcomings of the first Directive.

Bridge Financing for Turkish Private Equity Market

  January 21, 2014     By Herdem Attorneys at Law
Turkey is emerging market’s dynamism and is a suitable area for future factors in the traditional market.

Why Still Invest in Turkey?

  January 20, 2014     By Herdem Attorneys at Law
The global economic uncertainties surrounding the apprehensive expectations of Fed’s future monetary policies have already coalesced with the ongoing political crisis in Turkey.

New Opportunities to Earn: Passive Profit in Ukraine

  January 20, 2014     By Kydalov & Partners
It is not a secret that in different countries the cost, availability and profitability of financial resources placement are vary considerably. This situation allows not to have large, but stable and guaranteed profit to any entrepreneur.

Long-term Investment Account - Hole in the Net

  January 20, 2014     By Jalsovszky Law Firm
The purpose of the personal income tax is to make Hungarian tax residents liable to tax on all their personal income irrespective of where the income is sourced and in which form it is realized. The personal income tax laws, therefore, create a net around the individuals and any item of income can only get through the net if it has been taxed.

Corruption Claims and Effects in Turkish Banking Law

  January 15, 2014     By Herdem Attorneys at Law
The latest corruption claims in banking sector of Turkey may show considerable effects which have already started to spread several areas of the Turkish economy. With the arrestment of general manager of a state bank, all attentions draw to Turkish anti-corruption law and concerns increasing among government officials and investigators.

Emerging Financial Instrument in Turkey: Asset Backed Securitization

  January 10, 2014     By Herdem Attorneys at Law
Asset Backed Securities- Securitization is the transformation of receivables and cash flow created from a collection of financial assets into securities which are backed by these assets.

Financial Aspects of Private Equity Investment Funds in Turkey

  January 8, 2014     By Herdem Attorneys at Law
Private equity encompasses investors and funds which make investment directly into private companies or conduct buy out of public companies that end up with in a delisting of public equity.

Global Economic Uncertainties and The Expanding Sukuk Market in Turkey

  January 8, 2014     By Herdem Attorneys at Law
It is no surprise that in times of global and local economic uncertainties, people are more tend to look for a safe haven to wait for the fluctuations to come to an end.

More Transparency and Less Concern about Factoring Companies in Turkey

  January 6, 2014     By Herdem Attorneys at Law
Factoring refers a financial transaction where a business sells their account receivable to a third party which is called a factor at a discount in exchange for immediate money with finance continued business.

A New Austerity Plan: Regulated Credit Cards Market in Turkey

  January 3, 2014     By Herdem Attorneys at Law
Turkish credit card market is a growing market which also carries a high potential and there is the accelerating role of credit card debt problems, so the most issue is that consumers should be conscious while making expenditures with their credit cards.

Motivations and Limitations of Private Equity Investment Funds in Turkey

  January 3, 2014     By Herdem Attorneys at Law
Turkey provides substantial opportunities for private equities with rapidly developing sectors, liberalization policies in state-owned areas and corporate tax benefits.

Spending Cuts and the Banking Sector in Turkey

  January 2, 2014     By Herdem Attorneys at Law
Last week, the CEO of one of the best know Turkish Banks finally went out publicly to declare that the year 2014 will probably be the toughest one of the last ten years for the Turkish Banking sector.

AIFMD: Distinguishing between Open and Closed-Ended Funds

  December 30, 2013     By CSB Advocates
When the AIFMD was adopted, no harmonised definition of “closed-ended” Alternative Investment Funds (“AIFs”) was provided within the Directive’s text.

Opportunities in Fragile Turkish Equity Markets: Turbo Certificates

  December 30, 2013     By Herdem Attorneys at Law
Turbo certificate ("Turbo") is a derivative product that reacts with respect to an underlying asset is determined in advance.

Integration of Turkish Banking System to Global Market

  December 30, 2013     By Herdem Attorneys at Law
Turkish banking system becomes to adapt new conditions and this impacts to increase competition in terms of new services and products.

Chinese Regulations for Investments in Germany

  December 19, 2013     By Bright & Right
A rather detailed introduction of the legal aspects of outbound investment from China to foreign countries based upon the legal reality of China before 2012, which is undergoing further major changes in China at the moment.

What is the Threat of Money Laundering Associated with Bitcoin?

  December 18, 2013     By
Bitcoin has become increasingly popular as an alternative form of currency over the last several years. The digital currency offers interesting new options for secure and private transactions, for earning money through “Bitcoin mining,” and, unfortunately, for money laundering. What is the threat of Bitcoin and money laundering and what is being done to stop it?

How Does the Federal Reserve System (the “Fed”) Work?

  December 16, 2013     By
We have all heard about how interest rates might be going up when the economy is improving or how interest rates fall as the economy suffers. But how are these rates set? Who determines what the rates should be? What keeps interest rates from continuing to climb while the economy declines?

What Is the Advantage of Using Model Contracts in Project Finance? - Turkey

  December 16, 2013     By Herdem Attorneys at Law
There are the advocates of tailor-made agreements in Project Finance which, they argue, properly incorporate the specific points unique to each individual BOT project, to each sector of activity and to each country,

Who Is Liable for the Construction Risks in Project Finance? - Turkey

  December 16, 2013     By Herdem Attorneys at Law
In BOT project financing, it is generally the contractor, which takes full liability for the construction risks according to the commonly accepted rule that risks, should be borne by the party best able to take responsibility for them or manage them.

Key Process-Plant Specific Clauses in Process-Plant EPC Contracts - Turkey

  December 16, 2013     By Herdem Attorneys at Law
Mostly, EPC Contracts will not provide for the handover of the facility to the project company until all commissioning and reliability trialing has been successfully completed.

New Investment Opportunities for Master Funds Schemes in Turkey

  December 16, 2013     By Herdem Attorneys at Law
Business world firstly threw master funds opinion into the pot in 2011. After two years, this attempt currently came into climax with government support.

AIFMD – Implementation of the Depositary Lite Provisions - Malta

  December 12, 2013     By CSB Advocates
Following the finalisation of the consultation process which commenced on the 18th September 2013, the MFSA has revised the Investment Services rules for Investment Services Providers in order to introduce the Depositary Lite regime.

Developing Countries Are Potential Actors for Investment

  December 10, 2013     By Herdem Attorneys at Law
Foreign direct investment has an extraordinary role in the international sectors since it can contribute to remain the rate of global business.

Current Account Deficit in Turkey; Switch Structure of Society

  December 10, 2013     By Herdem Attorneys at Law
Global financial crisis prompts Turkish government to resettle apropos of economy since many countries confront financial problems and their economies become to economic recession.

Bitcoin and Taxation under Turkish Legislation

  December 9, 2013     By Herdem Attorneys at Law
Bitcoin is a form of digital currency, created and held electronically. In other words, it is an open source peer-to-peer electronic money and payment network introduced in 2009 by a software developer called Satoshi Nakamoto.

How to Secure Projects: the Significance of Insurance in Project Finance

  December 9, 2013     By Herdem Attorneys at Law
In the last 5 or 6 years some projects have had the benefit of insurance which is designed to pick up the risk after the contractor's liability has been exhausted.

The Guide to Benefit from the New Turkish Incentive Scheme

  December 9, 2013     By Herdem Attorneys at Law
The overriding concern behind the new Turkish incentive scheme is the resumption of the macro-economic stability of the Turkish economy.

Project Finance in Turkey and Its Attractions for Investors

  December 9, 2013     By Herdem Attorneys at Law
Primarily, the attractions of project finance lie in its features. Project finance packages risks associated with the project into discrete "bundles".

Turkish Project Finance Perspective, Indirect Guarantees in Project Finance

  December 9, 2013     By Herdem Attorneys at Law
Long term contracts with output purchasers are the source of cash flow by which the lenders may be paid.

When a Business Folds, Who Is Responsible for Its Debts and Other Obligations?

  December 7, 2013     By
A common question among small business owners is who will be responsible for debts and other obligations if a business entity folds or reorganizes. Many things can happen in the life of a business entity, whether a corporation, LLC, partnership, or sole proprietorship, and this can lead to questions about who will be left holding the bag.

Foreign Account Tax Compliance Act - Panama

  December 4, 2013     By Beitia-Carrillo Consultores & Asociados
In 2014, essentially all the financial institutions operating in Panama will be required to submit information to the United States (IRS) authorities, concerning “American citizen” in Panama.

Risks that Will Be Triggered during Hard Economic Times - Turkey

  December 3, 2013     By Herdem Attorneys at Law
The hard situation in the market affecting market demand. Projects, which are ideal for project financing, are those with predictable and stable cash flow patterns. Highway projects, power generation plants and high-speed rail fall into this category.

Higher Savings Mean More Stringent Regulations for Turkish Banking

  December 3, 2013     By Herdem Attorneys at Law
Using credit card is controversial issue in Turkey because rising rate of using credit card can arise problems in terms of financial woes such as consumer borrowing and also high rate of using credit card has concerned government.

How Does U.S. Law View Offshore Bank Accounts?

  December 2, 2013     By
Perhaps you are one of the fortunate few who has achieved a level of wealth where you are legitimately concerned that the ebb and flow of the U.S. economy could have a dramatic effect on your personal finances. Or, perhaps, you have heard that there are ways to avoid certain taxes if you keep your money offshore.

What Does the Law Say About Loaning Money to Friends and Relatives?

  November 30, 2013     By
Has someone close ever asked you for a loan? A lot of feelings and thoughts probably hit you all at once: an urge to be helpful to someone you care about, concern about getting repaid, wondering if you can afford to help this person, questions about why they are in need of a loan in the first place, and possibly even questions about the laws regarding the loan. So, what does the law say about loaning money to friends and relatives?

Overview of Cayman Islands Law Governing Hedge Funds – Q&A

  November 29, 2013     By Loeb Smith & Brady
The primary legislation regulating hedge funds in the Cayman Islands is the Mutual Funds Law (As Revised) (the “Funds Law”) and accompanying regulations, including the Retail Mutual Funds (Japan) Regulations (2007 Revision, as amended) which generally apply to investment funds licensed under the Funds Law (licensed funds) where the securities are marketed to the public in Japan.

Founding Partner Liable to Pay Compensation Even Though a Broker Was Used – Germany

  November 29, 2013     By GRP Rainer LLP
According to the Federal Supreme Court (BGH), founding limited partners are liable for incomplete or wrong information given by the brokers they use.

Malta Named European Domicile of Choice - HFR SP, 2013

  November 28, 2013     By CSB Advocates
The prestigious Hedge Funds Review Service Provider Rankings (HFR SP) 2013, has ranked Malta as Europe’s top hedge fund domicile, marking another achievement for Malta’s ever growing financial services sector and reaffirming its position as a leading financial jurisdiction.

Turkey Construction Contracts Which Mean EPC Contracts in Project Finance

  November 26, 2013     By Herdem Attorneys at Law
Project finance means the term applied to a variety of financing structures that have a few features in common. There are lots of participants take place in Project financing, namely; project sponsor, suppliers, contractors, bondholders and the other parties.

No More Individual Application Will Be Allowed to Become "Angel Investor" in Turkey as of 01.01.2014

  November 25, 2013     By Herdem Attorneys at Law
Turkey, as one of the pioneering countries that has particular regulation and tax reliefs for angel investment, has almost TRY 10 million volume of angel investment which is remarkably less when compared with Europe and U.S. markets.

A Message from Uncle Sam to Taxpayers Who Have Undisclosed Foreign Bank Accounts: the Clock Is Ticking

  November 20, 2013     By DeBlis & DeBlis
OVDI: Is the IRS playing unfair? Read on...

How Does Venture Capital Work?

  November 18, 2013     By
When starting up a business, one thing virtually every business owner runs into is a need for funding. There are a few ways one can acquire these funds, like dipping into personal savings, taking out bank loans, or through traditional stock sales. But, for a lot of money fast, one approach that is increasingly popular in the Internet age is venture capital. But what is it and how does it work?

An Overview of Turkish Defense and Aerospace Industry, Tendency to Domestic Production

  November 18, 2013     By Herdem Attorneys at Law
Turkey as a member of NATO and due to its geographic location has been allocated the highest funds from the budget to defense industry for many years. Today the total turnover of defense and aerospace industry is around USD 4,5 - 5,0 billion.

Why Does Turkish Banking System Gain Importance?

  November 18, 2013     By Herdem Attorneys at Law
Economic activities contribute to increase of banking sectors in Turkey since expectations have developed rapidly and there is a stability which has been sustained in the financial markets. Therefore, this situation reflects to ascend the effectiveness of supervision in the banking system.

The Emerging Turkish Sukuk Market: A Safer Way to Invest

  November 18, 2013     By Herdem Attorneys at Law
Sharia compliant non interest paying Islamic instruments, Sukuk is on the rise throughout the global financial markets. The volume of the global Sukuk market which is currently led by Malaysia, has already reached a volume of 1.5 trillion dollars

Construction Contract and Project Finance - Turkey

  November 18, 2013     By Herdem Attorneys at Law
The construction contract in an international project financing serves to give the project company a fully completed and equipped facility. In addition, it provides for delivery by the contractor of a facility that satisfies specified performance criteria, for a fixed or predictable price, and completed on a specific date.

What Is New for Private Equities in Basel III: The Turkish Experience

  November 18, 2013     By Herdem Attorneys at Law
Basel III is a key regulation that is aiming to build on the already existing Basel II regulation by series of amendments. The regulation is considered one of the most critical for global financial stability considering the destabilizing role the banking sector had played during the latest global economic meltdown.

Agents of Foreign Companies in Turkey

  November 18, 2013     By Herdem Attorneys at Law
Since the last decade due to the increase in FDI which is positively affected by GDP growth, Turkey has attracted many investors from all around the world. While some of those investors were looking for opportunities to set up their organizations some run their business through the agencies based in Turkey

A Corporate Guide for Private Equity Funds in Turkey: Board of Directors in Joint Stock Companies

  November 18, 2013     By Herdem Attorneys at Law
The management of a company is one of the most crucial issues for private equity funds since it is the value of the acquisition itself. As a key component of funding by a private equity, the management refers to controlling of daily business.

A Corporate Guide for Private Equity Funds in Turkey: Shares and Shareholder Rights in Joint Stock Companies

  November 18, 2013     By Herdem Attorneys at Law
In contrary to the decrease in European and U.S. markets the private equity funds in Turkey accelerating the volume of the investment day by day. Either financially backed by management buy-outs or leveraged buy-outs the acquisition by a private equity fund has a typical acquisition progress like in a private company.