ANALYSIS: Hong Kong’s Proposed Data Privacy Reforms Ready For Next Step
June 22, 2011 in World Data Protection Report
Hong Kong’s long-awaited data privacy reforms are expected to arrive in July 2011, reflecting months of government consultations and the intervention of some high-profile enforcement actions…
Swiss Central Bank Says Capital Base Of UBS, Credit Suisse Inadequate
June 22, 2011 in BNA's Banking Report
Switzerland’s two major international banks, UBS and Credit Suisse, have insufficient capital reserves on hand that can quickly be used to cover losses in the event of a financial shock, the Swiss central bank said June 16…
ANALYSIS: Managing Tax Risk When Investing In Chinese Securities
June 22, 2011 in Securities Regulation & Law Report
China’s miraculous economic growth has provided and will continue to provide attractive investment opportunities to international investors…
ANALYSIS: China’s New Investment Channel For Qualified Foreign Institutional Investors
June 22, 2011 in World Securities Law Report
On May 4, 2011, the China Securities Regulatory Commission (CSRC) promulgated the Guidelines for Investment in Stock Index Futures by Qualified Foreign Institutional Investors…
India Relaxes Some Security Procedures; Institutes New Audit, Location Detail Rules
June 15, 2011 in WTO Reporter
NEW DELHI—India has relaxed its rules on security for telecom operators but has imposed a new burden which the industry believes is too stringent and financially burdensome.
Mind the Gap: U.S. Discovery Demands versus EU Data Protection
June 15, 2011 in Privacy & Security Law Report
The rising tide of globalization has meant that, more frequently than ever before, multinational corporations must navigate between U.S. litigation discovery demands seeking the production of documents and information located in the European Union and EU data protection requirements. The authors examine the arguments available in U.S. litigation for resolving conflicting laws, and suggest what they describe as a practical approach that lawyers and business people can take to try to navigate through the rocky shoals of U.S. discovery obligations (the proverbial “rock”) and EU data protection authorities (the proverbial “hard place”). Notwithstanding conflicting obligations, there are means today to navigate this legal morass, according to the authors, who suggest a way forward.
The British Virgin Islands as an International Financial Centre of Substance: Strengths, Weaknesses, Opportunities and Threats in the Current Environment
June 15, 2011 in Securities Regulation & Law Report
The scrutiny that offshore financial centres (“OFCs”) have been subjected to since the global financial crisis set in is no idle threat to our business, and the environment we now operate in will not get any easier over time.
E.U. Directive On Alternative Investment Fund Managers Adopted By E.U. Council
June 15, 2011 in World Securities Law Report
By Shay Lydon and Aiden Kelly, of Matheson Ormsby Prentice On May 27, 2011, the Council of the European Union formally adopted the text of the Directive on Alternative Investment Fund Managers (“AIFMD”). This final component of E.U. institutional agreement on the AIFMD was achieved through the endorsement of the Council’s committee of E.U. finance [...]
The U.K. Bribery Act: A Primer For International Securities Firms
June 15, 2011 in World Securities Law Report
The Bribery Act 2010 (the “Bribery Act” or “Act”) has been a “hot” topic ever since it was pushed through the U.K. Parliament just before the general election in the spring of 2010 (see analysis at WSLR, June 2010, page 26). But the heat increased when the Government published draft guidance and is now full on with the Act coming into force on July 1, 2011.
International Carbon Market Shrinks in 2010 After Five Years of Growth, World Bank Says
June 13, 2011 in International Environment Reporter
WASHINGTON, D.C.—After five years of growth, world carbon markets operating under mandatory emissions reduction schemes shrank to $141.9 billion in 2010, down from $143.7 billion in 2009, the World Bank said in a report released June 1.