On July 9, 2023, the State Council of the People's Republic of China[1] promulgated the Regulations on Supervision and Administration of Private Investment Funds ("Regulations"), which will take effect from September 1st, 2023 ...
In late November 2018, the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) of the Dubai International Financial Centre (DIFC) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) announced that they had reached agreement on facilitating the licensing of domestic funds by each authority for promotion across the UAE. This is a potentially significant development ...
In order to implement Government Regulation No. 24 of 2018 which introduced an online system for processing and issuing certain business licenses (known as the Online Single Submission “OSS” system), earlier this year, the Investment Coordinating Board (“BKPM”) issued 2 new regulations on investment, ie BKPM Regulation No. 6 of 2018 on the Guidelines and Procedure for Capital Investment Licensing and Facilities (“Regulation 6/2018”) and Regulation No ...
On 13 June 2019, the Minister of Public Works and Public Housing (“MPW”) issued Regulation No. 09/PRT/M/2019 on Guidelines on Licensing Services for Foreign Construction Business Entities (“Reg No. 9/2019”) replacing:(i) MPW Regulation No. 10/PRT/M/2014 on Guidelines on Issuing Licenses to Representatives of Foreign Construction Service Corporate Bodies (“Reg No. 10/2014”); and (ii) MPW Regulation No ...
The FSR addresses such distortions and closes a regulatory gap. Subsidies granted by non-EU governments (so called third states) currently go largely unchecked, while subsidies granted by Member States are subject to scrutiny under EU State aid rules. The FSR includes new tools to effectively tackle foreign subsidies that cause distortions and undermine the level playing field in the internal market ...
The Minister of Transportation has issued Minister of Transportation Regulation No. PM 32 of 2016 on the Organization of Non-Fixed-Route Public-Transportation Services. This regulation addresses the ongoing dispute between the existing transportation companies and application-based transportation services ...
The Minister of Transportation has issued Minister of Transportation Regulation No. PM 32 of 2016 on the Organization of Non-Fixed-Route Public-Transportation Services. This regulation addresses the ongoing dispute between the existing transportation companies and application-based transportation services ...
On 18 November 2022, the People's Bank of China and the State Administration of Foreign Exchange ("SAFE") jointly promulgated the Provisions on Administration of Funds Invested in China's Bond Markets by Foreign Institutional Investors (《境外机构投资者投资中国债券市场资金管理规定》, the "New Rules") ...
On April 30, 2020, the CLPTO announced the temporary application of new measures issued in relation to deadlines, procedures and legal requirements in administrative and contentious processes, with the aim of facilitating the compliance of legal obligations by applicants and users. Previously, the CLPTO had granted ex officio, through the Exempt Resolution No ...
The Changwon District Court in South Korea has this afternoon (23 March 2018) issued a comprehensive prohibition order (CPO) following the application of Sungdong Shipbuilding and Marine Engineering Co. Ltd (Sungdong) to enter Chapter 11 Rehabilitation filed earlier this month ...
When August turns to September, 2007, a new market called NewConnect will open on the Warsaw Stock Exchange (WSE). It will support the trading of shares of small and medium-sized companies. The expectation is that issuers entering this new market will not be large companies (of market capitalization around PLN 20–30 million and with a public offer value from PLN several hundred thousand to several million) ...
This Newsletter describes the latest developments in Trade and Regulation in the Latin American region and the EU ...
This Newsletter describes the latest developments in Trade and Regulation in the Latin American region and the EU ...
In recent years, Nicaragua has experienced sustained economic growth, as a result of a strict management of its fiscal, financial, monetary and exchange policies. Its business-related administrative procedures and laws have contributed to a strong inflow of direct foreign investment, so much that the country intends to exceed this year an amount of 1500 million in investments in sectors such as: power, manufacture, agriculture, tourism and others ...
The Lagos Tax Appeal Tribunal (“TAT”) on 12 February 2016 ruled in favour of the Federal Inland Revenue Service (“FIRS”) in its case with Vodacom Business Nigeria Limited (“Vodacom”) that satellite-network bandwidth capacities provided to Vodacom outside Nigeria by New Skies Satellites (“NSS”), a Dutch incorporated company, are liable to value added tax (“VAT”) in Nigeria ...
CASE REVIEW The Federal High Court in the recent case of NOBLE DRILLING (NIGERIA) LIMITED V THE NIGERIAN MARITIME ADMINISTRATION AND SAFETY AGENCY (NIMASA) & THE MINISTER OF TRANSPORTATION, (Suit No. FHC/L/CS/78/2008) provides clarity on Sections 2, 5 and 22(5) of the Coastal and Inland Shipping (Cabotage) Act, Cap. C51, Laws of the Federation of Nigeria, 2004 (Cabotage Act) ...
The dispute relates to MV «Cheshire» incident in 2017, where a cargo of 42,000 metric tons of fertiliser was subject to a major decomposition incident off Gran Canaria, during a voyage from Norway to Thailand. The fertiliser was completely damaged and the vessel was declared a total loss. The cargo owners held the ship owners jointly liable for the cargo damage. Bibby Transport Ltd and a number of H&M insurers held the fertiliser producer liable for the damaged vessel ...
Some are just donkeys with a horn.I will remember 2019 as the year when many unicorns were exposed as donkeys in disguise.Invoking the rarity and mystique of the mythical creature, a “unicorn” is the term the financial market coined for companies worth US$1 billion or more. The year opened with high hopes for such companies that sought an initial public offering (IPO) in the following months ...
The Comoro Islands, situated off the south-east coast of Africa, has ratified the Bangui Agreement, thereby becoming one of the 17 member countries of The African Intellectual Property Organisation (OAPI). The Bangui Agreement, once consented to, requires that the member states accede to the international treaties and conventions listed in the Agreement ...
On January 27, 2016, the Obama Administration took the latest in its continuing steps to ease restrictions on trade and travel between the United States and Cuba. Amendments to the Cuban Assets Control Regulations (“CACR”) administered by the Treasury Department’s Office of Foreign Assets Control (“OFAC”) and the Commerce Department’s Bureau of Industry and Security (“BIS”) will authorize additional U.S ...
On July 21, 2021, the SEC’s Division of Examinations (the Division) issued a Risk Alert detailing more than 20 examinations of investment advisers who engaged in cross trades, principal trades, or both, involving fixed-income securities as part of the Division’s FIX Initiative. The July 21, 2021, Risk Alert is a follow-up to the Sept ...
What is your outlook for Chinese businesses and investment as we approach the end of 2021? China is, and will continue to be, the strongest market for offshore law firms in Asia. China's outbound investment activity has been subdued since 2016, due to domestic constraints on outbound capital flows and tighter scrutiny of Chinese investments abroad ...
On 28 January 2013 the «Diário da República» (official gazette) published a set of measures1 - that came into force the following day - to improve and streamline the special scheme2 for granting a Portuguese ‘investment residence permit’ (“IRP”) to foreign nationals to enable them to make certain investments in the country ...
