The current uncertainty in the world economy and the losses in the national stock market, generates concern about possible damage to the economy, derived from the pandemic caused by the virus COVID-19 ...
Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in targeted activities to steal millions of dollars in unauthorized funds ...
Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in targeted activities to steal millions of dollars in unauthorized funds ...
FinTech is important to the financial services sector in both India and the UK. A trade agreement could facilitate FinTech growth and deepen trade between the two countries. Kiran Desai, Head of Shoosmiths Brussels is joined by colleague Prakash Kerai to host Prashanth Ramdas of Khaitan & Co ...
In the recent Feedback Statement (FS06/2) from the UK's Financial Services Authority (FSA) to its Discussion Paper entitled "Hedge funds: A discussion of risk and regulatory engagement", the FSA identified the use of side letters as an area of concern where a market failure may be present, thus potentially requiring regulatory intervention by the FSA ...
The UK's Financial Services Authority (FSA) has issued a Feedback Statement on its discussion paper DP05/4 "Hedge funds: A discussion of risk and regulatory engagement" and has urged firms to focus on the risks posed by side letters "which will remain an area of supervisory focus". Side letters have become a common feature for institutional investors investing in hedge funds with the result that such investors receive preferential treatment and more information than other investors ...
A Report into effective approaches to audit committee reporting has been published by the Financial Reporting Lab, which is a forum set up by the Financial Reporting Council (FRC) to encourage better communication between listed companies and investors in the UK. The aim of the Report is to provide insight from companies and investors on effective approaches to audit committee reporting ...
In its most important constitutional judgment ever, the UK Supreme Court has this morning confirmed that the UK Parliament in Westminster, rather than the British Government, must decide on the UK’s withdrawal from the European Union (EU). The Court has in this respect upheld the decision of the High Court as reported in our “Brexit Update ...
This article looks at trends, including the response to COVID-19, which we expect to impact the mid-market in 2021. Last year we gave COVID-19 a quick mention in our ‘look at the year ahead’. Nobody foresaw the impact it would have. As the market enters a new year, there remains the uncertainty that we’ve grown familiar with ...
This article looks at current trends in UK mid-market debt finance and what we anticipate for 2024. Businesses have faced a perfect storm of challenges in the last twelve months: slow economic growth, rising interest rates, geopolitical unrest and struggles to curb inflation. Despite all that, Q4 of 2023 was a busy one, with a definite uptick in new deals off the back of more positive economic news towards the end of the year ...
This article looks at current trends and influences and how we expect them to impact the market in 2023. Whilst the market rebounded tremendously following COVID-19, it is now facing fresh challenges with rising interest rates, inflation and increased regulation featuring heavily on board room agendas. It was a slower end to 2022 compared to last year, but this unrest will no doubt present opportunities (as well as risks) in the coming year for lenders and businesses alike ...
Introduction The UK government has recently adopted a series of recommendations aimed to face the Coronavirus outbreak due to the rise in the number of infections and deaths caused by this virus. The strict approach of the UK Government would be in line with the measures adopted by the other countries in Europe, such as Italy or Spain ...
HM Treasury has recently published the outcome of its UK Prospectus Regime Review. The Review Outcome sets out important reforms to the UK prospectus regime for the public issuance of securities and admission to trading on capital markets, outlining the policy approach the UK Government will take following last year's Prospectus Regime Review consultation. This briefing note sets out the key measures confirmed by the UK Government in the Review Outcome ...
As we emerge from the pandemic, UK cities have a positive future – from the growth of digital broadcasting in Manchester to the positive future for inward investment; from what is needed to preserve our high streets to excitement around the Birmingham 2022 Commonwealth Games. The UK Cities Investor Guide is a bi-annual publication produced in partnership with EG, and tackles some of the key challenges and opportunities facing the real estate investment market ...
Uganda has enacted the Investment Code Act, 2019 (the “Code”). The previous Code was enacted in 1991 and was long overdue for amendment given the changes in approach to attracting investment and the glaring weaknesses in the old Code. The new Code strengthens the Uganda Investment Authority (the “Authority”), establishing it as a one-stop investment centre, and also provides for the financing and auditing of the Authority ...
The UAE has introduced new administrative sanctions on all entities that fail to comply with the requirements of Cabinet Decision 58 of 2020 concerning the Regulation of Real Beneficiary Procedures (Decision 58 of 2020). Issued on 23 May 2021, Cabinet Decision 53 of 2021 (Decision 53 of 2021) empowers the Ministry of Economy and the relevant licensing authorities in the UAE to administer various penalties on violators of Decision 58 of 2020 ...
On 24 August 2020, the UAE issued Cabinet Resolution 58 of 2020 on Regulating the Procedures of the Real Beneficiary (the Resolution). The Resolution, amongst other things, aims to establish a legal framework for identifying and recording details of real beneficiaries of entities licensed to conduct business in the UAE. The Resolution is an additional step towards the UAE’s efforts in combating money laundering, the financing of terrorism and illegal organisations ...
As reported in our inBrief of 15 April 2020, Federal Decree-Law 19 of 2018 on Foreign Direct Investment (the FDI Law) permits majority foreign investment in certain business sectors and activities. Although majority ownership is attractive, it is not the only factor that a potential foreign direct investor should consider. One additional factor is whether the proposed business would qualify for the 5% GCC customs duty exemption that is discussed below ...
Filing for bankruptcy might seem like an unlikely possibility for your company, and it probably is. But it happens. In the past, bankrupt brand owners had no clear answer as to whether, under bankruptcy law, they could both reject and rescind outgoing trademark licenses with the Bankruptcy Court’s approval. Now, the United States Supreme Court has provided an answer: They cannot ...
The Obama Administration has announced its intention of entering into negotiations with the European Union (“EU”) for a Transatlantic Trade and Investment Partnership (“TTIP”) aimed at achieving a substantial increase in transatlantic trade and investment between the world’s two largest economies. In the Federal Register of April 1, the United States Trade Representative solicited comments from the public with respect to U.S. negotiating objectives ...
Like any good negotiator, U.S. Trade Representative Robert Lighthizer, in setting out U.S. objectives for the renegotiation of NAFTA, offered only a glimpse of what the U.S. actually will be pushing for when three-country talks among Canada, Mexico and the United States begin in Washington, DC, on August 16. The U.S ...
Earlier this month, President Obama announced historic changes to U.S. policy and relevant regulations regarding diplomatic engagement, travel and trade with Cuba. The White House’s new policy represents the most dramatic shift in U.S. policy to Cuba since the enactment of the embargo in 1961. As a result of this new policy, a number of sectors of the U.S. economy are likely to see new opportunities in Cuban trade ...
China has become the largest emerging market economy and the second largest economy in the world. As a result, many Chinese companies have elected to access the U.S. capital markets for their financing needs. As of June 2020, there are over 200 China-based issuers listed on U.S. exchanges with a collective market capitalization of over $1.15 trillion. With the rising geopolitical tensions between China and the U.S ...
August 21, 2023 By: Akana K. Ma On August 14, 2023, pursuant to a Presidential executive order issued several days earlier, the U.S. Department of the Treasury released an Advance Notice of Proposed Rulemaking (the Proposed Rulemaking) announcing a ban on investment by U.S. persons, including U.S.-registered business entities, in three advanced technology sectors in China – quantum computing, artificial intelligence, and semiconductors ...
