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.

Public Private Partnership in Egypt

Public private partnership in a simple definition is a long term contract between the private sector and the public sector. In the 70s and 80s...

Failure to Declare the Amount of Cash at the Time of Crossing the EU Border

The criminal liability for any infringement of the regime of transactions, imports, exports, or any other activities involving cash assets or...

How to Start a Business in Bulgaria

Different legal possibilities for foreign investors in order to start a business in Bulgara.

Secure Securitisations in Malta

Securitisation transactions in Malta, that is the raising of capital through the transfer of assets and risk from the transferee (“Originator”)...

Foreign Currency Obligations in Argentina

On August 28, 2015, Division “F” of the National Court of Appeals in Civil Matters (the “Court”) hold that, pursuant to Section 765 of the Civil...

Bangladesh Enacted its First Public-Private Partnership (PPP) Act, 2015

  By OGR Legal
Bangladesh gets is first Public-Private Partnership (PPP) law. On September 16, 2015 government publish the act through gazette. Previously...

What if I Ignore a Florida Credit Card Lawsuit?

After served with a Florida Credit Card lawsuit, depending on the balance alleged by the creditor or debt buyer, the Defendant has to either:...

New Tax Incentives to Attract Investors in Cyprus

The government of Cyprus has announced new amendments in the island’s tax system in order to attract foreign investment and increase Cyprus’...

Foreign Infusions into Charter Capital of the Company in Ukraine: Benefits and Guarantees

“Foreign Invested Enterprise” in Ukraine, what should we know about benefits and guarantees.

Bangladesh Enacted Financial Reporting Act 2015

  By OGR Legal
Recently Bangladesh introduced a new law for regulating financial reporting.

Bank Liability for Honoring Check

  By HG.org
A bank has a legal duty to pay most of the checks that its customers write. However, there are instances in which the bank should not make a...

Enforcement of Foreign Judgments in the Cayman Islands

The Foreign Judgments Reciprocal Enforcement Law (1996 Revision) (the “Law”) allows a judgment creditor to apply for the judgment to be...

Online Payment Systems Technology in China

  By MMLC Group
The regulations existing in China dealing with online payment systems and related technology.

Incorporation of Investment Enterprises in Turkey

Investment companies or funds within the frame of the Capital Markets Law.

Latest Developments in Banking Finance in Turkey

The New Communiqué on the Principles Regarding Securities Investment Trusts has been published in the Official Gazette numbered 29368...

Hong Kong Becomes More Investment Friendly after Tax Exemption

On 17 July 2015, the Hong Kong Government gazetted the Inland Revenue (Amendment) (No.2) Ordinance 2015 (“the Ordinance”), which extended the...

New Amendments to Investment Law No. 8 in Egypt

Egypt in its accelerated movement towards economic reform has been emphasizing the importance of real estate development projects and large...

Banking Regulation, Greek Chapter

The international financial crisis has triggered major developments in the European banking sector both in terms of formation and regulation....

Free Zones in Egypt: The New Start

Egypt started its free zones programs in the 70s; during this period the country’s policy was directed at attracting and retaining foreign...

Recent Legal Amendments on Real Estate Acquisitions by Foreigners in Turkey

Some significant amendments for real-estate acquisitions by foreigners introduced by a new Law. The most notable amendment in the Law is...

How to Protect and Save Assets that Remained in Crimea

As a result of the illegal annexation of the Crimea by the Russian Federation, many owners of the property and assets in the Crimea have gotten...

What Exactly Should a Foreigner Do, if His Obligor is a State Enterprise on the Territory of Ukraine

Many of state enterprises provided international economic activities, such as buying some equipment abroad, borrowing from foreign bank...

UCITS – ESMA Developing a Common Understanding on Share Classes

On the 23rd of December 2014 the European Securities and Markets Authority ("ESMA") published a discussion paper on share classes of UCITS Funds...

Binary Options Trading in Malta

Trading in binary options is considered to be a high risk practice and therefore the MFSA has issued a circular setting out additional...

The Latest Development and Tax Issues of Islamic Bond Market in Hong Kong

Islamic finance is one of the fastest growing sectors in the international financial market. Given the strategic importance and influence of the...

Egypt: Amendments to the Investment Law

There were many debates over the investment law in the Cabinet of Ministers before the Presidential Decree 17/2015 amended some provisions of...

EU Bank Recovery and Resolution Directive

Public opinion became familiar with the term ‘bank resolution’ during the Cyprus banking crisis of 2013. The legal model that had been used in...

Recent Amendments and Modernisation of the Companies Act in Cyprus

The Law amending the Companies Act, CAP 113, Number 4, of 2015 has been passed by the Cyprus parliament. It provides for significant changes to...

The Obligation of the use of Indonesian Rupiah in the Territory of the Republic of Indonesia

  By Leks&Co
Bank Indonesia Regulation No. 17/3 /PBI/2015 on the Obligation of the Use of Indonesian Rupiah in the territory of the Republic of Indonesia...

Cyprus: New Insolvency Framework

The Insolvency Framework comprises of a package of six legislative texts which entered into force on the 07/05/2015, the date of their...

Real Estate Finance Obstacles in Egypt

Real estate in Egypt is considered one of the main industries that have a significant effect on the gross domestic product and according to the...

62% Take 121 Days to Settle Invoices

The Queen’s Speech confirmed a new Conservative Enterprise Bill which, for most SMEs, cannot come into play soon enough! The bill is aimed to...

Granting Preferences to Kazakhstani Legal Entities in Connection with their Investments in Kazakhstan

  By Integrites
The issues related to the provision of preferences to Kazakhstani legal entities in connection with their investments in Kazakhstan are mainly...

Company Service Providers in Malta

In terms of the the MFSA Rules for Company Service Providers (“CSPs”), CSPs are required to submit a Certificate of Compliance and an Annual...

Fund Managers in Malta

On the 13th May 2015, the MFSA issued a Circular addressed to Fund Managers on the inclusion of Retained Earnings as part of the Own Funds’...

What Are the Laws Regarding Check Cashing and Payday Advances?

  By HG.org
Almost everyone has, at one time or another, come up just a little short when they needed to pay a bill or meet some other financial obligation....

Shareholder Agreements under English Law – Basic Share Structure and Share Transfer Considerations

If you have more than one shareholder in your company, then you should consider agreeing the terms of a shareholders agreement which regulates...

Malta Conduct of Business Rulebook: MFSA Issue Consultation Document

The Malta Financial Services Authority (the “MFSA”) is currently in the process of setting up a Conduct Supervisory Unit. This is being done for...

Capital Market Authority Issued Resolution for Foreign Financial Institutions in Saudi Arabia

On May 4, 2015, the capital market authority “CMA” issued its resolution Number 1-42-2015 regarding to Rules for Qualified Foreign Financial...

Investment Risks in Kazakhstan

Investors from different countries are continuing to establish their offices in Kazakhstan and many companies are willing to do business here....

Investing in Cyprus

Large-scale projects, privatisations and a burgeoning oil and gas sector are firmly placing Cyprus on the map as a hotspot for investment from...

The New Alternative Investment Funds Law in Cyprus

We would like to hereby inform you that the Alternative Investments Funds Law of 2014 has come into force as from the on the 18th July 2014...

Immigrating to Cyprus

Non-Cypriot citizens may enlist to obtain the Cypriot citizenship by exception on the basis of the scheme for Major Collective Investments.

Tax Haven – Where Are the Best Tax Rates in Switzerland?

How many taxes do you have to pay? And where can you actually pay fewer taxes? The “Swiss Tax Report 2015″, from the highly regarded...

Data Thief Falciani is Closing a Deal with India’s Government Officials

The Indian government suspects millions of untaxed money from Indian High Net Worth Individuals in Switzerland. That’s why they made a lucrative...

Financial Action Task Force (FATF)

Firstly, is important to understand the cause of money laundry crime. Usually, is related to drugs traffic, terrorism, trafficking of humans,...

Spotlight: Concerns about Constitutionality of Turkey’s New IP/O Regime in Civil Industrial Sectors

On 06 February 2014, Turkish Parliament has enacted a 6518 Omnibus Bill, gazetted February 19th 2014, which adjoins a provision to article 3 of...

Non-Credit Financial Institutions must Make their Internal Control Systems Compliant in Russia

Non-credit financial institutions must develop and approve the personnel training and education program on CML/TF, as well as arrange employee...

The Main Advantages for Clients of Using Cayman Islands Corporate Structures

What is the single most important advantage that Cayman Islands corporate structures provides to clients?

Update: “Regulation A+” Approved by SEC

The Securities and Exchange Commission (the “SEC”) has recently approved an amendment to Regulation A (“Reg A”). Previously, Reg A was a small...

Registered E-Mail System of MASAK under the Law on Prevention of Financing of Terrorism

The Financial Crimes Investigation Board (MASAK), which is a main service unit of the Ministry of Finance, having the mission of making policies...

A New Era for Turkish Energy Market

In last 10 years, energy experts have been working keenly on the establishment of a new private and competitive electricity market in Turkey.

Proposed Price Changes for Medicinal Products and Medical Devices in National and Foreign Currency in the Ukraine

On March 13, 2015 on the web-site of the Ministry of Healthcare of Ukraine the draft of the Regulation of the Cabinet of Ministers of Ukraine...

Parameters to Request the Granting of a Concession in a Maritime Zone

If a private person or a legal corporation wants to purchase a property at the beaches of Costa Rica, whether it is to build a house, hotel,...

Malta - Streamlining its PIF and AIF Regimes

On the 10th of March 2015 the Malta Financial Services Authority ("MFSA") published a consultation paper on the regulatory approach applicable...

Wage Garnishment Laws

  By HG.org
If a creditor knows that a debtor is working, one effective method for the creditor to collect on this debt is to have the debtor’s wages...

International Payment Systems to Transfer Processing Inside Russia

Transactions inside Russia with the use of international payment cards will be processed within the Russian National System of Payment Cards...

Florida Parents Seeking Divorce May Find Mediation Helps Them Find Common Ground

Florida parents who can navigate their way through the process of divorce in as friendly a manner as possible can demonstrate to their children...

USA: Business Structures Available for Foreign Investors

The choice for the appropriate legal structure to transact business in the United States (“U.S.”) depends on a combination of factors relevant...

Ratification to the Treaty Relating to Grand Inga Hydroelectric Project in the Congo

In accordance with articles 213 paragraph 1 and 214 paragraph 1 of the Constitution of February 18, 2006 as amended to date, the President of...

The Role of the Execution Judge before and after Issuance of the Execution Law in Saudi Arabia

Before, the execution was performed by the King or his representative according to Article (50) of the Main Laws for the issued rule in 1412H,...

5 Common Debt Buyer Lawsuit Defenses

In addition to each of the defenses available in an original creditor lawsuit, debt buyer lawsuit defenses include standing, limited...

5 Common Defenses to a Credit Card Lawsuit

Five Common Defenses to a Credit Card Lawsuit include reviewing consent orders, inconsistencies, contract amendments, counterclaims, and payment...

What to Expect at a Florida Small Claims Pretrial

Service of a Small Claims Lawsuit is often a consumers first interaction with the civil court. Here is a quick explanation of what to expect at...

New Proposals for Chapter 11 Bankruptcy from the American Business Institute

This year, Chapter 11 bankruptcy is getting an overhaul. These changes are designed to make filing for Chapter 11 bankruptcy easier for...

Lawsuits Filed By Providers and Investors Over Life Settlement Investments

Life settlement providers, brokers, and investors have filed lawsuits regarding these life insurance investments. For more information about...

Buying Property by Expatriates in Abu Dhabi

The basics of buying freehold property in Abu Dhabi are the same as anywhere else in the United Arab Emirates. However, unlike Dubai, Abu Dhabi...

The Legal Truth of E-contracts in Egypt

No doubt that the technological evolution and its wide range usage in various fields became a part of our daily lives, accompanied by this...

Turkey’s Civil Offset/Industrial Participation Enthusiasm

Most probably many people would not know more about where offset/industrial participation discussions were moving toward before the article...

Bank of China – Is This the Start of Cooling Off for EB-5 Investment from China?

China’s state television accused Bank of China, one of the biggest state-owned commercial banks in China of violating the currency exchange...

Legal Services to Payment Service Providers in Europe

Prior to Directive 2007/64/EC of The European Parliament and of the Council of 13 November 2007, the framework of the payment services markets...

CIMA Added Cyprus in the List of Countries Implementing Equivalent Legislation on Money Laundering

As of 21 November 2014, Cyprus is included in the Third Schedule of the “Guidance Notes on the Prevention and Detection of Money Laundering and...

New Corporate Governance Law in Spain

On December 4th the Official Gazette published Law 1/2014 amending the Capital Companies Act to implement corporate governance modifications....

A Question of Substance - Malta's Financial Services Sector Stability

Malta continues to receive glowing reviews internationally as a stable financial services centre of repute within the European Union.

Spain's 3rd of December 31/2014 Bill has Reformed Capital Companies Law

This reform is of crucial importance since it makes numerous amendments to the listed company’s regime.

Independent Bank Guarantee in Italy

Business clients dealing with international trade frequently asked us whether an independent bank guarantee issued under the URDG 758 (the ICC...

Turkey: Mergers and Acquisitions Deals in 2014, Expectations for 2015

Turkey, as an emerging market, has its ups and downs to invest from time to time. These times depend on several different factors, but tracing...

Thai Civil and Commercial Code: Corporate Directors’ Standard of Care

A director of a limited company in Thailand must be liable to the shareholders and the company itself when he or she conducts the business of...

Procedures of Land Acquisition in the Framework of Investment – Land Acquisition Deriving in Indonesia

  By Leks&Co
Land Acquisition in the framework of investment is particularly regulated by Decree of State Minister for Agrarian Affairs/ Head of the National...

What Is a Digital Private Investigator?

  By HG.org
While many private investigators complete work in the field by conducting surveillance on a subject and photographing them in certain acts,...

Inherited IRAs and Creditor Protection

Your IRA is protected from creditors if you have to file bankruptcy, but what happens to that IRA if you die and leave it to a child? Many...

Piercing the Corporate Veil

Just how limited is your liability if you own a limited liability company?

It's OK, I've Got it in Writing - Michigan's Uncertain Treatment of Dual Source Supply Contracts

Parties to a contract usually feel a sense of security knowing that their agreement is embodied in a written, properly executed document...

Who Bears Risk of Non-Payment Between General and Sub-Contractor in Ohio?

A recent decision by the Supreme Court of Ohio highlights the importance of having clear terms in contracts between general contractors and...

Quality in Consulting : How Hard is it in Application

TQM is commonly known for the principles of continuous improvement, awareness of total cost of quality, recognition that everyone holds...

Alternative Investment Funds in Cyprus

The Alternative Investment Funds Law of 2014 was enacted by the parliament on the 10th of July 2014 and entered into force on the 27th of July...

FATCA: Cayman Islands Investment Entities Should Act Before Upcoming Registration Deadline

The broad scope of the Foreign Account Tax Compliance Act (“US FATCA ”) introduced by the United States (“US”) and the implementation of that...

Secure Securitisations in Malta

Securitisation transactions in Malta, that is the raising of capital through the transfer of assets and risk from the transferee (“Originator”)...

European Securities and Markets Authority Issues Consultation Paper on Asset Segregation

The European Securities and Markets Authority (ESMA) has recently published a consultation paper on the asset segregation requirements under the...

The Most Awaited Third Pillar Pension Scheme

In light of the launch of a regulatory structure for private pensions forwarded by the MFSA the Minister for Finance Prof. Edward Scicluna...

Malta - A Jurisdiction for Private Equity Funds

The MFSA is currently amending its legislative and regulatory framework in order to make Malta an efficient jurisdiction for structuring private...

Collateral Assignments in Respect of Credit Agreements: Belt or Suspender for Foreign Companies in Turkey?

Turkey has been one of the fastest growing economies during the course of the last decade.

Malta’s Banking Institutions Considered Sound and Resilient by the European Central Bank

The European Central Bank (ECB) has published the results of the stress-test that it has conducted over the past year in respect of the 130...

An Overview of FIDIC Rules in Turkey

FIDIC, (Federation Internationale Des Ingenieurs Conseils), International Federation of Consulting Engineers aims to find a resolution in...

Factors Elderly and Senior Investors Should Know

Investment risk factors seniors, elders, and their friends and family should be aware of.

Financial Fraud Schemes Victimizing Elders and Senior Citizens

There are many fraud schemes used by sellers intent on defrauding seniors and elders of their hard-earned money. Learn what they are to protect...

Cyprus Nominee Shareholders - Valid Trusts Arrangements or a Mere Façade?

First to be explored is the legal nature of the so called “nominee shareholder”. Nominee shareholder is a shareholder of a company holding...

Business Taxes, Payroll Taxes and Trust Fund Recovery Penalty

When the business faces a cash flow problem, many business owners use the payroll taxes collected but not yet turned over to the IRS.

Malta Applicants for Online Forex Trading - Category 2 / Category 3 Investment Services Licence

The MFSA recently circulated a notice outlining additional criteria with respect to the licensing of entities that would like to offer online...

Collecting from an Out of Business Company or Employer

Collecting on a judgment even in ideal circumstances can often be a time-consuming and complex process, and that presumes the debtor is solvent,...


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