Banking and Finance Law Articles
Articles written by attorneys and experts worldwide discussing legal aspects related to Banking and Finance.
MFSA Consultation Procedure on the Proposed Transposition of Certain Requirements of the AIFMD - Malta
September 6, 2012 By CSB Advocates
On the 3rd September 2012, the MFSA issued a ‘Consultation on the proposed transposition of certain requirements of the Alternative Investment Fund Managers Directive’ (“AIFMD”) that regulates the activity of alternative investment fund managers.
September 4, 2012 By Murray LLP
The board of directors play a central role in any offshore hedge fund. At every stage of the life cycle of a hedge fund the directors need certain critical information and documents in order to perform their duties. The life cycle can roughly be determined as the fund formation stage, the post launch operation (which might last several years) and then the eventual liquidation.
September 3, 2012 By Akdogan Uslas, Attorneys at Law
This article provides an overview of the Turkish tobacco legislation. Law No. 4733 Regarding the Organization and Duties of the Tobacco and Alcohol Market Regulatory Authority (the “Law”) sets forth the general principles applicable in four markets in Turkey, which are (i) tobacco market, (ii) tobacco products market, (iii) alcohol market and (iv) alcoholic beverages market.
August 24, 2012 By CSB Advocates
The most recent EU Summit held in June 2012 saw the creation of a tentative action aimed at addressing the current problems with bad banks and grossly indebted governments. This is currently being called the “Banking Union Plan”.
August 24, 2012 By Guo Lian Law Firm
The global retailing giant Walmart announced in February that it would further acquire 33.6% interest in Yihaodian, a leading B2C e-commerce company in China. Before the investment, Walmart already held 17.7% interest in Yihaodian. The new deal is subject to government regulatory approvals, including antitrust approval from the Chinese anti-monopoly regulator, the Ministry of Commerce (“MOFCOM”). On 13 August 2012, Walmart announced that it has received conditional approval from MOFCOM.
August 22, 2012 By The Neustein Law Group, P.A.
There are differences between bankruptcy and loss mitigation when it comes to solving your mortgage problems. A Broward County foreclosure attorney explains. When you are facing foreclosure, you may consider alternative measures such as bankruptcy or loss mitigation. It is important to understand the differences in evaluating which option might be best for you.
August 16, 2012 By Murray LLP
Some of the largest hedge fund managers will shortly make their initial filing for the Form PF, on August 29, 2012. This guide will recap on the previously announced and finalized Form PF obligations and provide an update on the most recent developments.
MOU With Financial Intelligence Unit of Netherlands on Prevention of Money Laundering and Terrorist Financing - Turkey
August 15, 2012 By Herdem & Co. Attorneys at Law
The Memorandum of Understanding (MoU) between Ministry of Finance, Financial Crimes Investigation Board (MASAK) of the Republic of Turkey and Financial Intelligence Unit of Netherlands concerning cooperation in exchange of financial intelligence related to money laundering and terrorism financing has been published on official gazette of 15 August 2012.
August 10, 2012 By Murray LLP
Hedge funds are increasingly subject to international and local data protection regulations. The amount of personal data held by hedge funds and service providers continues to grow. As obligations to collect data increases with new regulations such as FATCA hedge fund managers and other service providers must pay attention to data protection laws and regulations.
August 10, 2012 By Hammond, Bogaru & Associates
Romania has recently passed into law, Law no. 148/2012 which establishes the legal framework for the issuing of electronic documents (invoices, tax bills, receipts) which will contain data regarding economic operations such as exchange or sale of goods or services. This is a further step to modernise the financial and banking system in Romania. As electronic commerce continues to expand Romania will continue to be at the fore front of this industry.
August 9, 2012 By Murray LLP
The CFTC has issued a no action letter providing temporary relief for Commodity Pool Operators (CPOs) and Commodity Trading Advisors (CTAs) who are affected by the recent changes to the CFTC registration exemptions. The no action letter extends the deadline for registration for those affected by the recission of CFTC Rule 4.13(a)(4) and the amended Rule 4.5.
August 9, 2012 By Law Offices of Donald W. Hudspeth, P.C.
Introduction, Small Business and Southern Europe’s Economic problems. Because my Arizona business law firm represents businesses and start ups, both locally and from around the world, I was curious about the role entrepreneurs, start ups, and small and medium size businesses play in their national economies around the world. Surprisingly, one of the first articles that I found attributed the financial problems of Greece, Italy and Spain,.....
August 8, 2012 By Simbolon & Partners
The general principle on dissolution of Limited Liability Company is stipulated under Article 143 paragraph (1) of Law No. 40 of 2007 regarding Limited Liability Company, which provides that the dissolution of company does not automatically erase the legal status of the company. The legal status would be lost at the end of the liquidation process and accountability of liquidator has been accepted by the General Meeting of Shareholder or District Court.
July 28, 2012 By Walker Lambe Rhudy Costley & Gill, PLLC
Estate planners often talk about creating the plan that meets the specific needs of the individuals they are advising. They ask what you want and give you choices about how to get what you want. However, let's step back and look at the bigger picture. Estate planning is not only about you. It's also about your family and other loved ones.
July 26, 2012 By CSB Advocates
Michael Barnier, the Commissioner for the single market is expected to propose serious changes to the market abuse directive (2003/6/EC) and the proposed regulation ‘on insider dealing and market manipulation’ in the near future.
July 24, 2012 By Mamo TCV Advocates
Pursuant to article 20 of the Malta Financial Services Authority Act (Chapter 330 of the Laws of Malta), the MFSA is required to appoint a Consumer Complaints Manager (“CCM”) empowered to investigate complaints from private consumers (as opposed to companies or enterprises) in connection with any financial services transaction involving a financial entity regulated by the MFSA...
July 24, 2012 By Mamo TCV Advocates
Malta has come a long way since it first gained its Qualifying Recognized Overseas Pension Schemes (“QROPS”) status from the UK HM Revenue and Customs (“HMRC”) in 2009. Since then Malta has rapidly established a reputation as a safe and robust QROPS domicile. As will be seen below, various factors have proved pivotal in allowing Malta to benefit from a steadily growing slice of the QROPS market.
July 24, 2012 By Erin B. Shank, PC
Bankruptcy is a viable option if you cannot pay your debts and support your family. If creditors are calling you at home and at work, writing you threatening letters or even filing suit against you, a bankruptcy filing can stop these things and give you breathing room to begin a fresh start.
July 18, 2012 By Law Office of Roy W. Litherland
There are individuals who are naturally more exposed to potential legal actions than others, and for these people asset protection should be a priority. You have to act in advance to preserve your assets because your hands are tied once a suit is initiated.
July 17, 2012 By Herdem & Co. Attorneys at Law
Turkish Parliament has adopted a new law, Law No 6322 that brings out a limitation to financial expenses to corporate and income taxpayers. Accordingly, amounts including but not limited to credit interest, foreign exchange losses i.e. as a part of financial charges that exceed the equity capital and not a part of investment expenses shall not be determined as financial expenses and be written off as of 01 January 2013.
July 16, 2012 By Myburgh Law, P.C.
Divorce can be a very messy business and difficult to go through for all parties involved. However, it becomes far more grim ordeal when hidden assets come into play. One or both parties may charge the other with hiding assets, either through there being significant worth in the marital estate that the other has taken or through there being a significant amount of money made by both spouses during the course of the marriage that does not reflect the value of the estate.
July 12, 2012 By Stuarts Walker Hersant
The Cayman Islands Court of Appeal has re-affirmed the distinction between segregated portfolio companies (“SPCs”) and their segregated portfolios and the insolvency implications for each. In ABC Company (SPC) v J & Co. Ltd (CICA Unreported, May 2012) the Court of Appeal re-affirmed that the insolvency of one segregated portfolio in an SPC will not impact the other segregated portfolios in that SPC so as to require a winding up order to be made over the SPC as a whole.
Please highlight any main trends or shifts in the current Ukrainian financing market? Due to limited or no appetite for Ukrainian risk and global finance markets volatility, capital markets and traditional bank lending are no longer easily accessible to Ukrainian borrowers (subject to few exceptions). At the same time, supply of ECA-backed trade financing continues to be available and trade financing seems to be active this year as well.
The manner in which a lending transaction is structured is critical to the overall deal success because it has an impact on: the deal risk assessment; security package reliability; the total cost of financing (e.g., interest rate, commission/fees, taxes/duties payable); deal execution speed; and “post-closing” matters (e.g., manageability of reporting requirements, covenant compliance, debt servicing, etc.).
Capital markets projects always involve a significant amount of effort and stress from all parties of the process. Everybody has a common goal to get everything done just before the ever-urgent “windows” for the issue close. This time of crisis and uncertainty is precious and not to be wasted. Now is a great opportunity for prospective issuers and investors alike to get to grips with preparatory work in time for when the capital markets open their doors for Ukrainian business.
Traditionally M&A transactions involving Ukrainian targets are structured in a specific way in order to reflect peculiarities of the Ukrainian business environment. Enforcement of such structures requires deep knowledge and outstanding expertise in arbitration involving Ukrainian parties. Before drafting any dispute resolution clause, the following issues should be addressed.
From the moment foreign investors enter Ukraine they face a “non-Western standard” business environment, confusing and unstable legislation, and bureaucracy. One would need to spend a lot of time and effort to get a clear understanding of the local “rules of conduct”. That is why many investors prefer to have a local partner rather than be on their own.
On the way to the European integration, and by virtue of the determined Ukrainian policy towards energy independence, the Ukrainian Government is taking significant steps to improve Ukrainian energy sector. Currently, important changes are being introduced in the oil-and-gas industry. This has already encouraged global oil-and-gas companies such as Exxon Mobil, Shell, Chevron, and Eni to commence investment activity in Ukraine.
Sophisticated M&A transactions include not only straightforward share purchase agreements but may also contemplate ancillary agreements (e.g. option agreements, share pledge agreements, repo financing, etc.). Moreover, share purchase agreements may envisage non-compete clauses, which also fall within the ambit of Ukrainian competition law.
Development of efficient tax and corporate structures from the shareholders’ and potential investors’ perspective are key issues in a business restructuring. Each cross-border restructuring usually involves several jurisdiction. Below are some of the most frequently asked questions (and answers) on the cross-border restructuring of Ukrainian business:
4 Questions You Should Consider When Selling Your Stake in Business to a Private Equity Fund - Ukraine
Unlike Western developed economies, Ukraine has only recently started to unlock its potential in the area of attracting investments from Private Equity Funds (“PEFs”). Therefore, on the one hand, every more or less serious Ukrainian business (“Business”) has a good chance to attract the attention of a PEF.
Turkish Cabinet has announced a new decree on 15th June 2012, numbered 2012/3305 and published on official gazette of 19th June 2012.
Turkish Government has incorporated The Republic of Turkey Prime Ministry Investment Support and Promotion Agency (“ISPAT”) by law no 5523 (“Law”) as of 4 July 2006. ISPAT is incorporated as a legal entity with administrative and financial autonomy in association with Prime Ministry.
The Turkish Parliament has enacted a law, Law No 6302 (“Law”) that enables foreigners to buy real estate in Turkey in line with the interests of the country. Accordingly, compliance with legal restrictions, provided that the interests of the country where this is justified in terms of international bilateral relations established by the Council of Ministers, citizens (individuals) of foreign countries may acquire immovable property and limited real rights in Turkey.
June 15, 2012 By Kosmidis & Partners
The photovoltaic market in Greece offers great opportunities for investors, as it is expected to rise significantly within the coming years. Greece has grown to be one of the major investment destinations for solar energy production in the European Union; it is the southernmost country of EU, with almost 300 days of sunshine per year, and thus a massive potential for photovoltaic investments.
June 13, 2012 By Ketenci & Ketenci
The new Turkish Commercial Code will become effective as of July 1, 2012 pursuant to the Law numbered 6103 on the Validity and Application of the Turkish Commercial Code 1 July 2012 and Law. Whereas some of the provisions therein will be effective on different dates. The new Turkish Commercial Code numbered 6102 (the “New TCC”) was promulgated in the Official Gazette on February 14, 2011.
June 11, 2012 By Leks&Co
Background - The application for transfer of ownership of foreign shares can be submitted either by foreign investment company or by domestic investment company. The transfer of ownership of foreign shares shall be conducted whenever there are changes in the company’s capital that cause some or all the company’s capital into a foreign capital or domestic capital.
June 11, 2012 By Leks&Co
Background - The purpose of the issuance of Regulation No. 6 is to implement the provisions of Article 7 paragraph (2) and paragraph (3) of Presidential Regulation of the Republic Indonesia Number 27 of 2009 on One Stop Integrated Services.
May 30, 2012 By Bornmann Law Group, PLLC - Bankruptcy Lawyers
It is a myth that you won't be able to get credit after filing for bankruptcy. Some people are mislead into believing that you won't be able to get credit for up to 10 years after filing for bankruptcy protection. This is simply not true. Filing for bankruptcy has always had a stigma about it. Many people look at it as a way to cheat the system and not pay your bills.
May 29, 2012 By Diane A. Nygaard, PA
Why would you need an experienced CDO attorney? Unfortunately, investors are frequently taken advantage of or "scammed" by brokers and financial advisors, even in the area of collateral debt obligations. As these asset-backed securities were found not to be diversified enough when the stock market started to collapse, it became apparent that these CDO's were being sold by investment bankers, who then used the money to themselves profit.
May 26, 2012 By Levine Bridge Law Firm
If you are planning on visiting any country, it is always helpful to be familiar with the rules governing the import and export of currency and other securities. In Russia these issues are regulated by Federal Law from 10.12.2003 No.173-FZ “On Currency Regulation and Currency Control” and Customs Legislation.
May 25, 2012 By Deborah Sexton Law Office, PA
An Irrevocable Life Insurance Trust (ILIT) is a Trust used to hold your life insurance policy. Upon your death, your life insurance policy can pay into this Trust instead of directly to a beneficiary. Your ILIT Trustee will then use your Trust to pass funds out to your loved ones for a pre-determined amount of time. You must take special consideration when placing a life insurance policy into an Irrevocable Trust.
May 23, 2012 By Norrie & Associates
For many individuals, buying their first home is difficult because of the need to save up enough money to make the initial payment or to cover the closing costs. However, you may be able to use funds you saved in your traditional IRA to buy a home without incurring the 10% early withdrawal penalty (but you will probably still have to pay the regular income taxes on the distribution).
May 22, 2012 By Ongoren Law Office
“The Act to Amend of Check Law” numbered 6273, accepted on the date of 31.01.2012 by the Grand National Assembly of Turkey has been entered into force by publishing in the Official Gazette numbered 28093 and dated 03.02.2012. This Law brought radical amendments with respect to check which is one of the most important and vital payment instrument of the commercial life. The prison sentence concerning bad check has been abolished.
May 20, 2012 By Law Office of Jason Ostendorf LLC
This article covers the eligibility criteria for homeowners who wish to lower their interest rates and monthly mortgage payments through the Home Affordable Refinance Program (HARP). Although the country is showing signs of recovery from the economic crisis of 2008, many Americans are still feeling its effects. One wide-spread problem concerns the large number of “underwater homes”, or homes as to which the homeowner owes more on the mortgage than the property is worth.
May 16, 2012 By Schwell Wimpfheimer & Associates LLP
Last month, President Obama signed historic and far reaching legislation into law – the Jumpstart Our Business Start-ups Act (the “JOBS Act”). The broad impact of the JOBS Act effects companies – whether private or public, domestic or foreign – as well as capital raises, the IPO market, and more.
May 16, 2012 By CSB Advocates
On the 17th April 2012, the Companies Act (Recognized Incorporated Cell Companies) Regulations were incorporated into Maltese law by virtue of L.N. 119 of 2012. The said Regulations are supplemented by the MFSA Investment Services Rules for Recognized Incorporated Cell Companies (“RICC”) and Incorporated Cells which have been integrated into the existing MFSA investment services regulatory framework.
May 14, 2012 By Angela Wang & Co.
In line with the trend towards higher level of corporate governance and more accountability of listed issuers and their directors in many other countries, the Hong Kong Stock Exchange (the “Exchange”) released its Consultation Conclusions on Review of the Corporate Governance Code (“Code”) and Associated Listing Rules (the “Conclusions”) on 28 October 2011.
May 14, 2012 By DC Law Group
If you are considering purchasing investment property, rather than a primary residence, getting help from a Seattle real estate lawyer can be especially essential to ensuring that you make a wise and informed choice. A Seattle real estate lawyer will assist you with all aspects of the transaction and will help you to do your legal due diligence before you buy the property.
May 9, 2012 By TroyGould
The JOBS Act, signed into law on April 5, 2012, is intended to stimulate job creation and economic growth by improving access to the capital markets for smaller companies. In an effort to facilitate capital-raising for private companies, the JOBS Act created a new class of issuer known as an “emerging growth company,” or an EGC.
May 9, 2012 By TroyGould
On April 5, 2012, President Obama signed into law the “Jumpstart Our Business Startups Act” (JOBS Act). The JOBS Act is intended to facilitate the creation of new jobs by easing securities law burdens on capital-raising activities by smaller companies.
May 8, 2012 By Diane A. Nygaard, PA
You trusted your broker or financial advisor to help you make smart decisions and increase your investments; now, you suspect that he/she may have scammed you, or given you bad advice. Can an investment securities fraud lawyer help you determine whether you were indeed scammed, and is there anything that can be done to recover your losses?
May 8, 2012 By Diane A. Nygaard, PA
Has a stockbroker or financial advisor misled you, recommending a product or investment that proved to be unsafe or not suitable for you? A skilled securities fraud attorney understands these often complex issues, and will work to recover your losses.
May 4, 2012 By TroyGould
The Jumpstart Our Business Startups Act (JOBS Act) has made several important changes to federal securities laws. One of these changes has been to require the SEC to eliminate the restriction under Regulation D prohibiting general solicitation and advertising in connection with certain private offerings.
May 3, 2012 By The Law Offices of Jonathan W. Evans & Associates
For many Americans, trying to understand the rules that regulate the securities industry and the investment firms that invest their money is like trying to read another language. The investment industry has grown immensely over the past decade, and that growth has brought a complicated and massive system of policing along with it. If you have invested your money in a security or a company, you must take extra precaution to protect your rights and avoid being a victim of fraud.
May 3, 2012 By Frank & Kraft, Attorneys at Law
If you have more money than you're going to be able to spend during your lifetime you have to consider tax efficient asset transfers. Clearly Facebook founders Mark Zuckerberg and Dustin Moskovitz are in this situation. And, they are also in possession of shares that are going to increase in value dramatically when the company goes public.
May 2, 2012 By Augulis Law Firm
If you find yourself in a position where you have more than ample resources to last throughout your lifetime you have to start to consider how you will be preserving your wealth. Two individuals who certainly are in this category would be Facebook founders Mark Zuckerberg and Dustin Moskovitz.
April 17, 2012 By Grata Law Firm
In keeping with GRATA’s practice of informing clients regarding important legal developments that might influence their business, we draw your attention to the following recent changes in Kazakhstani financial legislation that occurred during the period of January - March 2012.
April 11, 2012 By TroyGould
The JOBS Act is intended to stimulate job creation and economic growth by improving access to the capital markets for emerging growth companies. The JOBS Act contains a number of provisions designed to ease capital-raising for private companies, including:
April 9, 2012 By Giambrone Law
Gabriele Giambrone, Managing Partner at Giambrone Law ILP, the Anglo-Italian law firm, comments on the failed venture of the British firm, British Gas and its decision to forego its business venture in Southern Italy. Setting up a business in a foreign country can be a daunting endeavor.
April 5, 2012 By Jaburg Wilk
Determining the valuation in divorce proceedings can often be contentious and difficult. There are three approaches to value any asset, business or business interest: 1) the asset approach, 2) the income approach and 3) the market approach. By: Mitchell Reichman
April 2, 2012 By Dardikman Law Offices
Over the last few years Israel has become an attractive jurisdiction for tax planners, the following article will provide information on some of the tax benefits which new immigrants or returning residents can obtain.
March 26, 2012 By Diane A. Nygaard, PA
Unfortunately, many investors are taken advantage of by unscrupulous brokerage firms and financial advisors every day.
March 26, 2012 By Diane A. Nygaard, PA
When investors buy or sell a company's securities within a "class period" or specific time period and securities laws are violated, leaving investors injured economically, it may be time to consult with a class action securities fraud attorney.
In tough economic times there are things smaller public companies can do to help ensure they maintain their ’34 Act reporting compliance.
Finding a qualified securities law attorney is not difficult, if you know where, and how, to look.
For many private and public companies raising funds is essential to get over the hump and on the road to revenues and eventual profits. There are several things companies can do to increase their chances of successfully raising money on favorable terms.
March 22, 2012 By Brooke Chambers
Audit Committees are part of internal audit mechanisms created by both public and private companies to ensure financial regulatory and risk management compliance of public and private companies to laid down financial laws and practices.
March 18, 2012 By Pugnatorius Ltd.
More than two years ago Thailand decided to concentrate several governmental services for foreign investors at one place in Bangkok. In the meantime, Thailand has gone through ups and downs. Therefore, it is justified to make a judgement in 2012 whether the formation of this one-shop-solution has been accepted and adopted by foreign investors.
March 12, 2012 By Guo Lian Law Firm
On 2 March 2012, MOFCOM published its conditional approval to the $4.5 billion acquisition of Viviti Technologies Ltd (a company directly holding Hitachi Global Storage Technologies Netherlands B.V. ,which holds Hitachi Global Storage Technologies Singapore Pte. Ltd.) (“Viviti”) by Western Digital Corporation (“Western Digital”).
March 12, 2012 By Walker Law Firm, P.A.
Consumer spending is a great initiator of the U.S. economy, pushing it forward or back depending on the trends of the time. It is so important that it accounts for around 70 percent of the activity of the economy. The job market has taken many hits recently. Economic hard times have forced many workers to seek unemployment compensation while they continue seeking jobs elsewhere.
March 9, 2012 By Ketenci & Ketenci
Turkey has recently ratified the Convention on International Interests in Mobile Equipment (the "Convention") and the Protocol to the Convention on Matters Specific to Aircraft Equipment (the "Protocol" and, together with the Convention, the "Cape Town Convention"). By ratifying such Convention, Turkey has become a country which is very fit for aircraft finance in all respects.
March 3, 2012 By MTIT legal company
The Russian Legislation Overview includes a brief overview of the major legal acts that came into force in January 2012. Federal Law N 353-FZ dated December 12, 2010 entitled "On amendments to the Civil Procedure Code of the Russian Federation”. Came into legal force on January 01.2012 (excluding certain provisions).
March 2, 2012 By Herdem & Co. Attorneys at Law
In this article you will find general information on Free Trade Zones regulation of Turkey that will help foreign investors to make transit trade through Turkey without involving to any domestic trade area.
February 28, 2012 By The Lebrecht Group APLC
It eventually happens to all of us in the securities business, particularly those of us who provide services to public companies. One of the other service providers to the company comes under investigation by the SEC, or FINRA, or a state regulatory agency. It might be the company’s lawyer, auditor, public relations firm, investment banker, or a consultant. What should the company do?
February 28, 2012 By The Lebrecht Group APLC
In 1964 the SEC published its policy regarding registration of securities without an “established trading market.” From that policy came the conclusion that a stock traded only on the Pink Sheets does not have an established trading market. That policy is essentially still in place today, despite the fact that $92 billion worth of securities traded on the Pink Sheets in 20091.
February 23, 2012 By Villagran Lara, Attorneys
Documentary credits law depends on the principle of autonomy or independence of the credit and the doctrine of strict compliance. The principle of autonomy protects the beneficiary (exporter) while the doctrine of strict compliance protects the issuing bank and the applicant (importer).
February 22, 2012 By Herdem & Co. Attorneys at Law
Although it has been long time to have CFC regulation in Turkey, in parallel with the increasing rate of growth of Turkish economy, many major entrepreneurs making Turkey related businesses required to focus on management of their taxation policies in consideration of CFC regime in Turkey.
February 22, 2012 By Andreas Neocleous & Co LLC
Overview of SEPA - The Single Euro Payments Area (SEPA) is an initiative of the European banking industry to simplify all electronic payments across the euro area by credit card, debit card, bank transfer or direct debit and to make them as easy as domestic payments within one country are now.
February 22, 2012 By Leks&Co
Background - A Limited Liability Companies (“Company”) may gain their capital by increasing its capital, the process is performed based on General Meeting Shareholder’s (“GMS”) Resolution. According to Article 41 paragraph (2) of Law Number 40 of 2007 on Limited Liability Companies (“Company Law”),
February 16, 2012 By Hudson McKenzie
The Tier 1 (Entrepreneur) category is for those investing in the United Kingdom by setting up or taking over, and being actively involved in the running of one or more businesses in the United Kingdom.
February 14, 2012 By Hudson McKenzie
The Tier 1 (Investor) category is for those high-net-worth individuals who want to make a substantial financial investment in the UK of £1,000,000 (GBP 1 million) or more.
February 14, 2012 By Herdem & Co. Attorneys at Law
The Turkish Parliament has recently adopted a legislation that brings down penalties on bounced checks. Accordingly, contrary to the former legislation the issuers of bounced checks will only be subject to administrative fine rather than imprisonment. During the years of high inflation and the several economic crises in Turkey, the checks especially by textile and raw materials sector have been preferred as the payment tool in Turkey.
February 12, 2012 By Carlo Scevola & Partners
An overview on the foundation structure, with a particular focus on Private Interest Foundations in Panama. There are many countries offering legal entities known as offshore foundations. A private offshore foundation is a private entity usually set by an individual or married couple to provide for their children and their heirs.
February 9, 2012 By CSB Advocates
An outline of the Highly Qualified Persons Rules, 2011 - Managing Growth - Malta has attracted much media attention as an up-and-coming onshore financial centre, particularly since the 2008 economic slowdown.
February 9, 2012 By Grata Law Firm
Following the financial crisis, the Government of Kazakhstan together with AFN (a financial regulator, recently replaced in its role by the National Bank) has introduced amendments to legislation designed to address issues which arose during the crisis and to enhance financial legislation and the financial market of Kazakhstan. Two main laws have been developed (one of which has already come into effect, while the other is yet to be passed).
February 9, 2012 By Grata Law Firm
1. General Provisions - On 21 July 2011, the Law of the Republic of Kazakhstan on Special Economic Zones (hereinafter - the 'Law') has been enacted.
February 8, 2012 By Andreas Neocleous & Co LLC
EU leader Member States agreed on a new Treaty on Stability, Coordination and Convergence in the Economic and Monetary Union. The European Stability Mechanism (ESM) Treaty was signed by euro area Member States on 2 February 2012 and ratification is pending by the 17 euro area Member States. The target date of its operation is July 2012, a year earlier than expected.
February 7, 2012 By Angela Wang & Co.
In the recent Hong Kong case of Passport Special Opportunities Master Fund, LP v eSun Holdings Ltd  4 HKC 62, the court examined the law of improper purpose in relation to fiduciary obligations on directors, when deciding whether or not, and in what manner, to embark on an issue of new shares.
February 1, 2012 By Law Offices of Richard B. Schneider, LLC
The practice of elder law is an area of expertise that developed from the need of a growing population of senior citizens with specific legal issues. What can an elder law attorney do for you or a loved one? Elder law is a relative new area in the practice of law, arising from the need of a growing population of senior citizens with specific legal needs.
Background - Mechanism of the investment licenses that is applied by BKPM to the investor covers provisions concerning business sector and business entity that could be managed by the investor in the territory of Indonesia. Principally, provisions on the mechanism of the investment licenses apply the same treatment to all of the investors, either foreign investor or domestic investor.
Background - Merger is a legal action conducted by one or more company to merge with another existing company causing the assets and liabilities of the merging company transferred by law to the surviving company. Moreover, the legal entity status of the merging company will be ended by law.
Background - International Center for Settlement of International Dispute (“ICSID”) was established on the basis of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States of 1966 (“ICSID Convention“). This ICSID Convention regulates the settlement of dispute between a country with foreign individual or company who have invested their capital in the country, by peaceful means through conciliation or arbitration.
January 13, 2012 By Belcheva & Associates Law Office
Planning all corporate taxes: income taxes, VAT, withholding taxes, dividends taxes and considering the tax impact on your business, should play a significant role in every financial step your company in Bulgaria undertakes. Even if you consider that your business is not currently in need, you can seek for taxing information as at the moment Bulgarian system almost apply tax free levying of income for residents and non residents.
January 12, 2012 By Hamilton & Associates, P.A.
Indian companies are accessing the Frankfurt Stock Exchange (“FSE”) and other foreign capital markets in search of capital and liquidity for their shares. The Entry Standard of the FSE is an appealing option for Indian issuers seeking an access point to European capital markets. By Brenda Lee Hamilton, Attorney
January 12, 2012 By Hamilton & Associates, P.A.
On December 20, 2011, Deutsche Börse AG suspended new listings for the First Quotation Board due to fraud and new cases of suspected market manipulation among several shares listed in the First Quotation Board. Deutsche Börse AG stated, “prosecution according to criminal law and supervisory legislation only seems to have a limited deterrent effect. By Brenda Lee Hamilton
Asset Protection Errors - How to Avoid the Most Common Errors in Setting Up an Asset Protection Strategy
January 11, 2012 By Carlo Scevola & Partners
Many of you probably receive unsolicited junk e-mails offering different Asset Protection schemes. With so many "tax haven" jurisdictions and unlicensed companies selling unproven and unreliable Asset Protection techniques and entities, which do you trust? There are many flawed asset protection packages offered on the internet now days.
January 9, 2012 By Glimstedt Law Firm
Loan agreement is one of the most common ways of financing in Belarusian companies when a foreign shareholder provides a loan to the Belarusian Company. This article covers some crucial issues of receiving loans from foreign companies including currency and tax regulations.
January 7, 2012 By Kevin Pillion - Co-Executor PLLC
The initials “LLC” in a financial planning context stand for a "limited liability company." (Note that the “C” stands for company rather than corporation.) The limited liability company is somewhat of a hybrid enterprise that has some of the characteristics of a corporation while also resembling a sole proprietorship or partnership depending on whether or not there is more than one member.
January 5, 2012 By Arthur & Castillo
The tax benefits of Law 158-01 may extend to the purchase and acquisition of Dominican Republic real estate such as second homes and vacation villas of projects located in designated tourist zones.