Most commentators agree that the equity capital markets are not in robust health as we enter 2023. Investors have sustained significant losses in recent months and the combination of war, inflation and recession mean that investor confidence is at a definite low. There are however some signs that the outlook for 2023 may not be as bleak as the headlines might suggest ...
In Ultima Services Corporation v. U.S. Department of Agriculture et al., Case No. 2:20-CV-00041, Ultima Services Corporation filed suit in the U.S. District Court for the Eastern District of Tennessee (Greenville Division) challenging the constitutionality of the Small Business Administration’s 8(a) Business Development Program ...
On December 30, 2022, the Asset Management Association of China ("AMAC") issued a consultation draft of the Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法 (征求意见稿)》) (the "Draft Measures") and the ancillary Guidelines No. 1-3 on private fund manager registration〔i.e. Guideline on Basic Operational Requirements ("Guideline No. 1"), Guideline on Shareholders, Partners and Actual Controllers ("Guideline No ...
Kudun and Partners has successfully represented Thanulux Public Company Limited (“TNL”), the biggest market leader in the manufacturing and sale of ready-made clothes and leather goods in Thailand, on the listed company’s major restructuring and expansion of its investment with a highly significant total value of THB 8.8 billion ...
Where is my order? I’m sure most of us have asked this question many times and probably more so recently as the recent postal strikes have left customers waiting for delayed Christmas gifts to arrive. The postal strikes have undoubtedly had a huge impact on businesses in the lead up to Christmas, especially given the dramatic increase in online sales, costing businesses money and time in navigating through customer queries, complaints and providing solutions ...
The past two years have seen significant growth in the number of mergers and acquisitions nationwide with many agriculture and farming business owners choosing to liquefy their assets and move on. At the same time, employers have had to cope with numerous challenges that have made the task of hiring and preparing I-9s for new employees more difficult. Some employers (unlawfully) stopped preparing I-9s for new hires altogether ...
The SEC Division of Examinations issued a Risk Alert on December 5, 2022 detailing observations from examinations of investment advisers and broker-dealers related to compliance with Regulation S-ID ...
As previously discussed, the federal district court deciding Christian Bruckner’s lawsuit to enjoin the Infrastructure Investment and Jobs Act’s set-aside of 10% (around $37 billion) of transportation funding for “small business concerns” owned and controlled by “socially and economically disadvantaged individuals” issued an order directing (1) the parties to submit supplemental briefing describing the “administrative and implementation of the DBE p
How can investors, developers and the public sector find value in an ever-changing environment? This was the big central question forming the basis for EG’s recent Scottish Cities Live event, of which Shoosmiths was a sponsor ...
As we discussed in prior updates, on July 13, 2022, Christian Bruckner filed a lawsuit in the federal district court in Tampa, Florida, seeking to enjoin the Infrastructure Investment and Jobs Act’s set-aside of 10% (around $37 billion) of transportation funding for “small business concerns” owned and controlled by “socially and economically disadvantaged individuals ...
The benefits of Guernsey as a fund domicile Guernsey is one of the world's largest offshore finance centres with a thriving funds industry. Guernsey’s experience in private equity dates back to the early 1980s when the private equity industry was in its infancy, since then Guernsey has grown to become a leading jurisdiction for the formation and administration of private equity funds ...
The Procedures reflect updates to the de-registration process for mutual funds and establish for the first time the de-registration process for private funds, which aim to create a streamlined and harmonised regime for regulated funds ...
The benefits of Guernsey as a fund domicile. Guernsey is one of the world’s largest offshore finance centres, with a thriving funds industry. Over 1,400 investment funds and sub-funds are currently administered in the island. The value of funds under management and administration in Guernsey as at the end of June 2021 is US$533 billion (up 24.4% in 12 months), based on the most recent available data published in The 27th annual Monterey Insight Guernsey Fund Report ...
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 15 November 2022, the Secretary of the Department of Energy (“DOE”) signed DOE Department Circular (“DC”) No. 2022-11-0034 which amends the Implementing Rules and Regulations of Republic Act No. 9513 (otherwise known as the Renewable Energy Act of 2008). The amendment removes the nationality restrictions on the exploration, development, and utilization of renewable energy resources such as solar, wind, biomass, ocean or tidal energy ...
In March 2022, the Oregon legislature passed House Bill (HB) 4002, which imposes new overtime pay requirements for agricultural workers beginning on January 1, 2023. The bill also establishes a refundable tax credit for eligible employers to help offset all or part of the additional wage expenses attributed to overtime pay ...
Kudun and Partners represented Genpact Consulting (Singapore) Pte. Ltd ...
With this continued interest, a number of Singapore are managers using Jersey as the jurisdiction in which to domicile their funds. This choice is driven by several factors. Singapore tax treatment of digital assets. Digital assets do not fall within the definition of a “designated investment” for the purposes of Singapore tax legislation. This means that a Singapore domiciled fund will be subject to tax in the country, and such tax leakage is hugely unattractive to investors ...
Contents Please click on the links below to jump to the relevant section: Cayman fund vehicles Cayman fund regulation Mutual Funds Act Private Funds Act Additional regulatory obligations Penalties Cayman fund vehicles The Cayman Islands has the following range of vehicles that are typically used as investment funds: Exempted company Segregated portfolio company Limited liability company Exempted limited partnership Unit trust Exempted companies and segregated portfol
Thanyaluck Thongrompo, partner of Kudun and Partners, was invited to be a speaker at the Faculty of Law, Maejo University on the topic “International Trade: Regulatory Issues on Import and Export” where she shared her knowledge and experience in handling import and export matters in Thailand. This webinar is a part of the law students’ academic program that focuses on Law of Cross-Border Trade Economics ...
On 6 October 2022, as part of the ongoing work of the OECD/G20 Inclusive Framework (“IF”) on Base Erosion and Profit Shifting (“BEPS”) to implement the Two-Pillar solution to address the tax challenges arising from the digitalisation of the economy, the OECD released its progress report for comment. Background The report was prepared for the purposes of obtaining further input from stakeholders on the administration and tax certainty aspects of Amount A ...
The Bangko Sentral ng Pilipinas (“BSP”; the Philippine Central Bank) issued BSP Circular No. 1149, series of 2022 (Guidelines on the Integration of Sustainability Principles in Investment Activities of Banks). The Circular sets expectations on the prudent conduct of investment activities, as well as minimum practices that banks must establish for the management and control of investment-related risks ...
According to news reports issued on October 16, 2022, to further facilitate foreign capital investment in China A shares, the China Securities Regulatory Commission ("CSRC") is considering formulating a special exemption rule for the short swing profit rule ("SSPR")[1] for foreign investors (e.g. qualified foreign investors/QFIs and foreign investors under the Stock Connect scheme) ...
Kudun and Partners was invited by the Chartered Institute of Arbitrators (CIArb) Thailand branch to host and provide the opening remarks for CIArb’s first in-person event in several years featuring guest speakers, Kevin Nash, SIAC Registrar and Dr. Vanina Sucharitkul, Chair of the CIArb Thailand Branch ...
