Wednesday, November 26, 2014

ANALYSIS: Malaysia’s New Code on Takeovers And Mergers

Background

On December 15, 2010, the Malaysian Securities Commission introduced a new Code on Takeovers and Mergers 2010 (“Code”), replacing the previous 1998 Code. The new Code was made effective on the same date.

The Code is broadly similar to the 1998 Code but introduces improved protection for investors, enhances transparency of information through greater disclosure and also puts a heavier onus on independent directors of the target company (offeree).
The Malaysian market has been widely expecting a new…

Luxembourg Becomes First E.U. Member to Transpose UCITS IV Directive into National Law

Since early days, Luxembourg has always been at the forefront of financial regulations and has maintained a solid reputation as a pioneer jurisdiction for investment funds. Luxembourg is now the first EU member state to implement the European Union’s latest Directive on Undertakings for Collective Investments in Transferable Securities (2009/65/EC) (“UCITS IV”) (see analysis at WSLR, October 2009, page 29) through the new law on undertakings for collective investment (“UCI”) voted by Parliament on December 16, 2010.

UCITS IV: A Toolbox of Opportunities
With the aim of addressing structural inefficiencies in the EU funds market, the “UCITS IV Toolbox”, as introduced by the new law, will bring about the following main changes:

• a harmonized framework for fund mergers and master-feeder…