The sixth edition of The International Capital Markets Review is already available. The Philippine chapter outlines governing laws, legislative bodies, and recent jurisprudence, and also contains information on recent developments in relevant laws and regulations, especially those affecting debt and equity offerings and those affecting derivatives, securitizations and other structured products. The chapter was contributed by SyCipLaw partner Maria Teresa D ...
The Board of Supervisors unanimously approved legislation on December 13, 2016 to provide developers of market rate projects with 24 or fewer dwellings with the option of contributing the required fees for off-site affordable housing (under the Inclusionary Housing Program) to a Small Sites Fund administered by the Mayor's Office of Housing and Community Development ("MOHCD") ...
Overview The new Pledge Law of the UAE was enacted on 12 December 2016 as Federal Law No. 20 of 2016. The Pledge Law was published in the Federal Official Gazette on 15 December 2016 and will become effective on 15 March 2017. The Pledge Law introduces a new regime for registering a pledge over movable assets which are pledged as security for the repayment of a debt ...
The Law on Financial Operations On the 30th of December 2016, the application of the Law on Financial Operations (Law) will commence in the Federation of Bosnia and Herzegovina. The Law is intended to ensure the proper functioning of the internal market by introducing adequate and systematic risk management measures and solvency measures, as well as to promote the competitiveness of local commercial enterprises by legislating a culture of prompt payment ...
Financial Industry, ICC Commission Report on Financial Institutions and International Arbitration, International Financing The ICC Commission on Arbitration and ADR’s Task Force on Financial Institutions and International Arbitration recently published its ‘Report on Financial Institutions and International Arbitration’ (the “Report”) ...
Maxim Alekseyev, ALRUD Senior Partner, heading Private Clients Practice, Kira Egorova and Elena Novikova, ALRUD Of Counsels, and Ekaterina Vasina, ALRUD Associate, prepared a chapter for the 5th edition of the book “The Private Wealth & Private Client Review” published by Law Business Research. The book includes articles on private wealth management, written by leading specialists from law firms from all over the world ...
Seek advice before signing up to the ISDA Resolution Stay Jurisdictional Modular Protocol It is a matter of time before you, as a market participant, are approached by large institutional derivative, securities lending or repo counterparties from the United Kingdom (“UK”) to sign up to the International Swaps and Derivatives Association’s Resolution Stay Jurisdictional Modular Protocol (“ISDA JMP”) and the UK jurisdictional module, or before you are asked t
As a British Overseas Territory with no direct taxes, the Turks and Caicos Islands (TCI) has been an attractive domicile for trust establishment by high-net-worth individuals and their advisers for many years. However, in the recent past, with the Government’s focus firmly on developing TCI’s enormously successful luxury tourism industry, the updating of TCI’s non-regulatory legislation in the field of financial services had been a little neglected ...
The 2017 edition of Getting the Deal Through: Islamic Finance & Markets features SyCipLaw Of Counsel Mia G. Gentugaya as contributing editor. SyCipLaw Partner Amer Hussein N. Mambuay contributed the Philippine section ...
Legal Regime Regarding Real Estate The Serbian legal regime recognises private ownership of real estate, including land and buildings ...
The reform of French law of obligations implemented by the French ordinance No 2016-131 of 10 February 2016 (the “Ordinance”), conducted after public consultations and high quality working papers, constitutes the deepest overhaul of French contract law since the Civil Code of 1804. The Ordinance applies to contracts entered into as from 1st October 20162, including amendment agreements, tacit renewals and novated contracts executed or occurring after such date ...
On October 26th, 2016, Law No. 20,950, otherwise known as the “Law to Boost Productivity” (the “Law”), was published in the Official Gazette, introducing various modifications to different laws and regulations in order to enhance the country’s productivity through the expansion of the financial system and the promotion of the exportation of services. Main measures for the expansion of the financial system: Several legal provisions of Law Decree No ...
Law No 20,590 (the “Law”), that authorizes the issuance and operation of pre-funded payment methods or any other similar system (the “Prepaid Cards”), by non-banking entities, when these systems involve that the issuer or the operator regularly engages in monetary obligations with the general public or to specific sectors or groups thereof, was published and came in force on October 29, 2016 ...
We are pleased to announce that Karanovic & Nikolic team, together with Freshfields Bruckhaus Deringer, has supported UniCredit S.p.A. (Italy) in a recently closed take-over of the CEE business of UniCredit Bank Austria AG including shareholdings in 13 banks in Southern Europe and CEE as well as a relevant loan portfolio ...
The September issue of the International Financial Law Review (IFLR) included an international briefing article entitled “Facilitating Creditor-Debtor Dealings”. The article was contributed by SyCipLaw partner Russel L. Rodriguez, senior associate John Christian Joy A. Regalado, and associate Jo Margarette W. Remollo ...
This article is originaly published in IBA International Real Estate News. During 2015, one major acquisition of real estate property occurred in the Serbian real estate market. What happened was that a major international bank purchased over 8,000 sqm of space in two office buildings located in the Serbian capital, Belgrade. In fact, the buyer only acquired the parts of the buildings, while it already owned a significant part of this property ...
? The reform of the French law of obligations implemented by the French ordinance No 2016—131 of 10 February 2016 (the Ordinance), conducted after public consultations and high quality working papers, constitutes the deepest overhaul of French contract law since the Civil Code of 1804. The Ordinance applies to contracts entered into as from 1 October 2016,2 including amendment agreements, tacit renewals and novated contracts executed or occurring after that date ...
With the public comment period closing in a few days, the New York Department of Financial Services (DFS) “first in the nation” cybersecurity regulation is one step closer to becoming law ...
SyCipLaw partners Jose Florante M. Pamfilo and Franco Aristotle G. Larcina contributed the Philippine chapter of Herbert Smith Freehills’ 1st edition of Guide to Restructuring, Turnaround and Insolvency in Asia Pacific. The Guide is intended to provide an understanding of the legal framework in different jurisdictions, as well as to address key practical issues commonly encountered when dealing with companies in financial difficulties ...
An interesting news update has recently come up in the media, as the Serbian roads company "Putevi Srbije", and the Ministry of Construction, Transport, and Infrastructure – together with the representatives of the relevant institutions in Romania – announced that a contract on implementing a cross border project of building the Belgrade-Timisoara highway is due to be signed in the next two weeks ...
The Court of Appeals for the Federal Circuit ("CAFC") issued an important ruling today in the ongoing evolution of biosimilar product regulation. In the ruling today, the CAFC in Amgen Inc., Amgen Manufacturing Limited v. Apotex Inc., Apotex Corp. (CAFC Case No. 2016-1308) affirmed the district court ruling and held that the commercial-marketing provision in 42 U.S.C ...
The British Columbia Law Institute published on September 1, 2016 its Consultation Paper on Complex Stratas seeking public comments on proposed reforms to the Strata Property Act and its regulations concerning sections, types, and phases. The BCLI carries out scholarly research, writing and analysis for law reform, collaborating with government and other entities, and providing materials and support for outreach and public information ...
A recent case has demonstrated the importance of inspecting the boundaries of a property before buying it. Solicitors will generally advise a client buying a property to carry out an inspection beforehand, to check that nothing unusual is revealed. Typical issues that might be spotted are boundaries that do not follow the Land Registry's title plan and gaps in a fence suggesting that third parties are using the property as a short cut ...
