Banking and Finance Law Articles

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

Withdrawal from Loans: OLG Nürnberg Bolsters Consumer Rights in Germany

There have been many instances of banks and savings banks using ambiguous statements in guidance on the right of withdrawal regarding the...
FIND LEGAL ARTICLES

Misuse of Authority in Company’s Own Bankruptcy Application in Amsterdam

In a recent case before the Court of Appeal of Amsterdam, a dismissal of a company’s own application for bankruptcy was upheld in appeal. The...

Privatization: Attracting Foreign Investors to Ukraine

The long announced plans of Ukraine in relation to massive privatization are being gradually implemented. The importance of privatization is...

Investment in Egypt

Legal Framework: Post 25th of January, 2011 Revolution Direction following Revolution of 25th of January, 2011, Egypt has been heading towards...

Even Minor Deviations from Standard Guidance Enough for Loan Withdrawal in Germany

Even minor deviations from the respective standard guidance render guidance on the right of withdrawal flawed in the case of loan agreements. In...

Countdown for Loan Withdrawal in Germany: Take Action by June 21 Deadline

The countdown is on for withdrawing from real estate loans. The deadline for withdrawing from legacy contracts is June 21, 2016. After this...

Perfecting Your Security Interest – Requirements for Listing a Debtor’s Name on Florida Article 9 Filings

Florida lenders seeking to secure a lien against the personal property of a borrower in default must follow the guidelines detailed in Article 9...

Import & Export in Egypt

Import is strictly regulated by the Egyptian government permitting Egyptian nationals only and fully owned and managed Egyptian companies to...

Withdraw from Loans in Due Course and Benefit from Low Interim Interest in Germany

It is often possible to save several thousand euros by withdrawing from a real estate loan. Having said that, this so-called “ewiges...

Enforcement and Seizure Proceedings in Romania

The Romanian courts do not necessarily operate with the speed and efficiency that may be found in Western Europe or the USA but this should not...

OLG Frankfurt: Unclear Commencement of Term Renders Guidance on Right of Withdrawal Ineffective in Germany

If the guidance on the right of withdrawal in a loan agreement includes the words “die Widerrufsfrist beginnt frühestens mit Erhalt dieser...

Business Acquisition by Foreign in Ukraine: Basic Errors

Business acquisition is a complex and long process that can confound even the most experienced businesspersons, because different business...

Loan Withdrawal Comes to the Attention of the BGH in Germany

Another hearing before the Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, concerning withdrawal from consumer loans has been...

SEC Halts Ash Narayan from Defrauding RGT Clients

The Securities and Exchange Commission (“SEC”) announced that it obtained a court ordered “freeze” of the assets of three individuals, including...

Criminal Law about Finance in the UAE

Banks and financial institutions are a part of everyone’s life. The financial relationship between a person and his bank is government by...

Wohnimmobilienkreditrichtlinie Enters into Force in Germany: Withdrawal Still Possible until June 21, 2016

The entry into force of the Wohnimmobilienkreditrichtlinie heralds the end of the so-called “ewiges Widerrufsrecht” (perpetual right of...

BGH: Reasons For Withdrawal Immaterial in Germany

According to the Bundesgerichtshof’s (BGH) ruling of March 16, in which it bolstered consumers’ right of withdrawal, consumers’ reasons for...

Right of Withdrawal not Forfeited in Cases Involving Withdrawal from a Loan in Germany

Banks often claim that the right of withdrawal has been forfeited as a way of fending off attempts to withdraw from a loan. However, this...

The Supreme Court of Romania Decided that an Appeal Against the Tax Audit Report Is Inadmissible

The Supreme Court of Romania, in motivating the decision, considered that the tax audit is the document that underlies the issuance of the tax...

New Tax on Dividends Starting in January 2016 in Romania

For individuals receiving dividends from a Romanian legal entity, starting in January 2016 it is maintained the 5% percentage of the gross...

Cuts to Life Insurance – Consider Withdrawal in Germany

The idea of life insurance forming a component of one’s retirement plan is increasingly losing credibility. According to media reports,...

Illicit Funds in Offshore Accounts: Avert Prosecution with Timely Voluntary Declaration in Germany

Hesse’s Finance Minister, Dr. Thomas Schäfer, has announced that the fight against tax evasion will continue. Voluntary disclosure is still the...

How to Safeguard the Liability Protection of Your Florida LLC

A majority of new business entities in the U.S. are formed as Limited Liability Companies (LLC) to provide business owners with a shield from...

BGH Bolsters Consumer Rights When Withdrawing from Pension Schemes and Life Insurance Policies in Germany

The Bundesgerichtshof (BGH), Germany’s Federal Court of Justice, has once again strengthened the rights of consumers when withdrawing from...

Inheritance of Company Shares in Bulgaria

Aiming to clarify the main points of the procedure for inheritance of company shares under the Bulgarian Commercial law

FINRA Submits Proposed Rule Changes to Clarify Offsetting Awards

FINRA has recently filed proposed rule changes that provide much-needed clarification to how arbitration awards resulting in both sides paying...

Withdrawing from Life Insurance Policies in Germany: Review Withdrawal

Anybody who wishes to withdraw from their life insurance policy or pension scheme can have someone review whether this is possible. This is...

Cayman Islands Private Equity Funds and the use of Exempted Limited Partnerships

Structure of Cayman Private Equity Funds. The most common structure for a Cayman Islands domiciled private equity fund (“PE Fund”) is as an...

Shareholder Disputes in the Cayman Islands

Shareholders of a Cayman Islands company may petition the Grand Court for an order that a company is wound up pursuant to section 92(e) of the...

Uganda: Benefits of an Investment Licence to the Government

The licensing of investments in Uganda provides vital information for the Government in the following areas:

Cayman Islands Shareholder Disputes and Corporate Insolvency: Applications for Validation Orders by Solvent Companies

On 9 February 2016, Clifford J., sitting in the Financial Services Division of the Grand Court of the Cayman Islands gave Judgment in In Re...

Benefits of an Investment Licence in Uganda

According to the Investment Code Act 1991, Section 15 (1 and 2), Uganda Investment Authority (UIA) shall issue to the applicant an investment...

Business Inheritance in Ukraine

The one of advice would be that business owners, especially if the business is successful, it is necessary to think in advance about the solving...

Processing Investment Licence in Uganda

After a company has been incorporated registered (foreign company) in Uganda, it is eligible for an investment license provided its capital...

Investment Incentives in Uganda

The absolute exemption on plant and machinery only applies to plant and machinery used in the agricultural sector.

SEC Whistleblower Program

  By HG.org
In 2010, Congress implemented a new act that provides for monetary incentives for whistleblowers who report Securities and Exchange Commission...

Withdrawing from Loans: OLG Köln Bolsters Consumer Rights in Germany

In its ruling of November 6, 2015, the Oberlandesgericht Köln (Higher Regional Court of Cologne) once again strengthened consumer rights in...

Authentication, Simplification, Granted IP Status in Latin America

The Hague Apostille Convention of 5 October 1961 was born out of the need to simplify the circulation of documents between different states and...

OLG Frankfurt: No Forfeiture of Right of Withdrawal in Cases Involving Consumer Loans

According to a ruling of the OLG Frankfurt (Higher Regional Court of Frankfurt), the right to withdraw from a loan is not forfeited even after...

Withdrawing from Loans: Bundesrat Favours Longer Transitional Period for Legacy Contracts in Germany

The controversial plans to do away with what is termed the “ewiges Widerrufsrecht” (perpetual right of withdrawal) in cases involving real...

Withdrawing From Loans and Reimbursement of Early Repayment Penalty in Germany

It is still possible to withdraw from a loan even after it has been prematurely paid off. After successfully withdrawing from the loan, the...

Germany: Right of Withdrawal from Legacy Contracts to Expire Soon

Anyone who is still considering withdrawing from a loan ought to act now. The German Bundestag has resolved to do away with the option to...

Scholz Holding GmbH: Deferred Payment of Interest

Investors in Scholz Holding GmbH bonds will not receive an interest payment on March 8. The due payment has been deferred until May 31, 2016.

What to Do When Your Business Bank Deposit Goes Missing

  By HG.org
A common business practice for retail stores and other establishments is to have a manager or other agent of the business deposit all cash and...

Ekosam-Agrar GmbH Bond Terms to be Extended in Germany

Investors in Ekosem-Agrar GmbH are to vote on a four-year extension to the terms of two bonds. Creditor meetings are taking place on March 16...

New CFPB Rules and the Impact on Hard Money Lending

Hard-money lending is becoming more popular in the mortgage industry as real estate investors try to find new ways to take advantage of...

Transitioning Broker Alert - FINRA Adopts New Comp Disclosure Rule

The Securities and Exchange Commission approved last week a new rule proposed by FINRA, the Financial Industry Regulatory Authority, which...

Non-Traded REITs: Great for Brokers, Not for Clients

FINRA, the Financial Industry Regulatory Authority, filed a complaint against VFG Securities, Inc., a small broker-dealer that allegedly...

English Court Guidance on Anti- suit Injunctions in UK

In a recent decision of the English Commercial Court in ESSAR SHIPPING LTD –v- BANK OF CHINA LTD (2015) it has been held that an applicant to an...

Cheque Dishonour Law in Bangladesh

In the modern world it is almost unthinkable that a business would operate without the help of a bank, and as such the use of cheques in...

SEC Fiduciary Rule Proposal to Potentially Differ from DOL’s

Calling all financial advisors – time to grab your compasses and brush up on your map-reading skills. As if the path to confirmation of the...

Implementation of the Common Reporting Standard by the Republic of Cyprus

The Organisation for Economic Co-operation and Development proposed a Common Reporting Standard (CRS) for the Automatic Exchange of Information...

Cyprus: English Court Guidance on the Wording of a Freezing Order

Recently the Supreme Court of the United Kingdom in the case of JSC BTA Bank v Ablyazov [2015] UKSC 64 made a landmark decision on the...

How to Use a Tax Return after Consolidating Student Loans

  By HG.org
When a person files taxes in which he or she has paid a greater amount of taxes than his or her tax liability requires, he or she can receive a...

What Is a Loan Modification Lawyer?

  By HG.org
Loan modifications are most commonly made to mortgages, often because homeowners are having difficulty making mortgage payments. A loan...

FINRA Investigations Under Rule 8210

It is every registered person’s nightmare. You receive a letter from a FINRA office notifying you that you are the subject of a FINRA...

Cyprus English Court Guidance on the Liability of an Agent Towards His Principal for Benefits and Assets Acquired During Agency

In a recent decision of the English Supreme Court inFHR EUROPEAN VENTURES LLP –V- CEDAR CAPITAL HOLDINGS LLC (2015) it has been held that, where...

Recent Developments on Collateral in Thailand

Some of the effects of the recently enacted Business Collateral Act.

The Consular and Diplomatic Protection: The State’s Law and the Supranational Legal Orders

The consular and diplomatic protection's public law studied the interaction between the State’s law and the supranational legal orders

The Non-Operating Foreign Companies in Jordan

According to Jordanian Corporate law, the non-operating Foreign Company in Jordan is a Company or an entity which has its regional or...

A Guide For California Real Estate Investors

Real estate investors are prevalent in the California real estate market, and they have driven the values for the past few years. What, then,...

Recovering Your Romanain Investment

Companies have been formed in the past for many reasons in Romania. Over the past few years the Romanian Trade Registry has endeavoured to clean...

Kazakhstan Business Code: What’s New?

On 30 October 2015, the president of the Republic of Kazakhstan (“RK”) signed the Business Code (“BC”). BC is a consolidated code that embodies...

Forming Appeal Committee for Banking Disputes in Saudi Arabia

The Royal Decree Number: – (24/A), dated in 18/02/1437H, was issued stipulating to form the 1st Court of the Banking Disputes Committee, and the...

Recent Updates to the Hong Kong Stock Exchange Listing Rules

Recent updates to the Hong Kong stock exchange listing rules.

Applications for Conciliationin Germany only Suspend Prescription of Damages Claims if Accurate

A lot of investors are entitled to claim damages after an investment has gone wrong. It is possible to suspend the statute of limitations for...

Implementation of the OECD Common Reporting Standard in the Cayman Islands

On 16 October 2015, the Cayman Islands Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations, 2015...

Cayman Islands Limited Liability Companies Bill

It is proposed that a new law (the “Law”) be enacted, to permit the formation of a new type of vehicle in the Cayman Islands – a Cayman Islands...

Doing Business in Cote d’Ivoire: New Steps for a More Attractive Business Climate

On regional level, Cote d’Ivoire belongs to three major regional entities: The Economic Community of West African States (ECOWAS), The...

Doing Business in Cameroon: Key Issues to Be Aware Of

Cameroon is described as the largest economy of Central Africa because of its demographics (20 million), with an area of 475,442 km², and a...

MFSA Conducts a Thematic Review on Compliance with the Requirements on Corporate Governance in Malta

In 2015, the MFSA conducted a Thematic Review Questionnaire amongst 60 authorised trust companies (‘authorised persons’), which represent...

Common Reporting Standard Enters into Effect for Investment Funds in the Cayman Islands on January 1, 2016

What is CRS? The Common Reporting Standard (CRS) will impact Cayman Islands domiciled investment funds with effect from 1 January 2016. The CRS...

Correcting Inaccuracies in a Credit Report

  By HG.org
Information that is inaccurate or incomplete in your credit file can result in adversely affecting your credit. Possible results include being...

New Amendments to Company Law of Saudi Arabia

The Ministry of Commerce and Industrial (MOCI) announced on 9 November 2015 about New Company Law(NCL), which may be implemented after 150 days...

MFSA on Governance, Compliance & Risk Management Regarding Investment Services Licence Holders in Malta

On the 22nd December 2015, the MFSA issued a letter to the Compliance Officers of Investment Services Licence Holders to inform them of the...

European Bank Authority Consultation on Regulatory Technical Standards on Passporting under PSD II

On the 11th December 2015 the European Bank Authority (“EBA”) launched a consultation on its draft technical standards on the framework for...

Review of Financial Legislation Amendments in Ukraine 2015

Public finance plays a strategic role in functioning of financial sector and economy at all, developing of regions and supporting of...

Hong Kong Strives for Becoming the Hub of Corporate Treasury Centres with Attractive Tax Incentives

Nowadays, owing to the growing importance of the Asian market, multinational corporations are encouraged to set up their corporate treasury...

The New Egyptian Electricity Law and Investment

In the past four years Egypt faced a critical issue in the electricity sector and in May 2014 the shortfall reached 58% from the total...

Cyprus International Trust

A Trust is an arrangement whereby a person known as the ‘Settlor’ transfers ownership of property to another person or persons, the 'Trustees’...

China’s “One Belt One Road” Provides Catalyst for Hong Kong Taxation Reform

According to the China central government’s 13th five-year plan, it has showed its full support for Hong Kong to participate in the nation's...

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”)...

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.

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...


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