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 ...
The July/August issue of the International Financial Law Review (IFLR) included an international briefing article entitled “Promoting Foreign Investment”. The article was contributed by SyCipLaw partner Carina C. Laforteza and associate Lito Paolo T. Martin II. The article discussed the enactment of Republic Act No. 10881, which was set to make the Philippine sa more attractive destination for foreign investors in the financing industry ...
? 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 ...
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 ...
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 ...
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 ...
The October 2016 issue of the Asian Legal Business (ALB) includes a regional update article entitled “New Implementing Rules for Philippine Data Privacy Act”, contributed by SyCipLaw partner Rose Marie M. King-Dominguez. The article enumerated and discussed the implementing rules and regulations of the Philippine Data Privacy Act of 2012. It is located on page 11. Read the full ALB October 2016 issue on the ALB website ...
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 ...
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 ...
It is now more than four months since the seismic shock of the Brexit vote. The honeymoon period of the summer months has passed. The debate has turned to what flavour of Brexit we might be left with and the timing of Article 50 and the level of oversight MPs should have. There remain far more imponderables than facts and this seems set to be case for some time. For those of us who negotiate for a living, this is a reality that is inevitable ...
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 ...
The October issue of the International Financial Law Review (IFLR) included an international briefing article entitled “Mining Developments”. The article was contributed by SyCipLaw partner Aaron Roi B. Riturban ...
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 Public-Private Partnership delivery model (?PPP? or ?P3?) is now well established in Canada, where more than 177 of such projects were closed between 1993 and 2015 (source: InfraAmericas). The great majority thereof (166) have been closed since 2004, and the current trend indicates the number of projects is on the rise ...
Creation of a Canadian infrastructure bank On October 20, 2016, the Advisory Council on Economic Growth published its report entitled "Unleashing Productivity Through Infrastructure". One of the report's recommendations is to create a Canadian Infrastructure Development Bank whose objective would be to deliver projects with an aggregate value of more than $200 billion over 10 years, while at the same time minimizing the use of government budgets ...
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
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 ...
A federal appeals court has rejected two challenges to the environmental review of the Los Angeles County Metropolitan Transportation Authority's (Metro's) planned subway expansion in Downtown Los Angeles. The "Regional Connector" project, approved in 2012, will create a three-station, underground link through Downtown that will allow passengers to travel from points on the Metro Gold Line to the Blue and Expo lines without having to transfer trains ...
Karanovic & Nikolic provided complete legal support to Affidea, a largest European medical service provider with respect to opening the first foreign hospital located in Belgrade. Our services consisted of extensive regulatory and corporate advice related to formation and start of operations of Affidea&s first hospital in Serbia. Affidea is one of the largest healthcare investors and operates over 180 Diagnostic and Cancer Treatment Centers in 15 countries across Europe ...
After a remarkable year in both merger control and antitrust, the Serbian Competition Commission (the "Commission") is already starting to look ahead. The announcements made on the Commission's website during November and December of this year suggest that the Commission's focus in the year ahead will be directed at several industries in particular. Firstly, the Commission published on its website the Report on the Sectorial Analysis of Aftermarkets ...
The Serbian Parliament has recently adopted amendments to the Criminal Code. The amendments include a significant overhaul of the legal framework for white collar crimes, touching upon the rules relevant for antitrust enforcement as well. While the Serbian Criminal Code previously penalized antitrust infringements spearheaded by the responsible managers, the relevant provision was relatively vague and targeted chiefly dominance abuse ...
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”) ...
On January 1, 2017, most public works projects in California will be subject to new procedural requirements applicable to claims from contractors ...
