December/January 2019
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International Correspondents
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News Analysis
Editorial
Sponsored
Sponsored
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Sponsored by FenXun PartnersThe ongoing commercial disruption between the PRC and the US is having a global effect -
Sponsored by Orrick Herrington & SutcliffeAuthorities are planning to strengthen the oversight of PRC companies involved in technology transactions with the US
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Sponsored by Maples GroupThe Irish legislature is considering draft legislation which would regulate purchasers of non-performing loans (NPLs). The draft legislation is at an advanced stage in the parliamentary process. While credit servicers are regulated in Ireland, credit owners (in the main, entities that have purchased loans and loan portfolios from banks looking to reduce their exposure to NPLs) are not. However, the regulation of owners of credit would be a substantial extension of the regime. Furthermore, it would run contrary to EU policy in this area which proposes to regulate credit servicers (as is the existing position in Ireland) but deliberately stops short of regulating loan owners because such an extension is neither necessary nor desirable.
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Sponsored by Chandler MHMAccording to the implementation plan released in November 2018, terms of reference (TORs) have been issued for six projects, and 'contract awarded' notices are tentatively scheduled for February 2019.
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Sponsored by Elias Neocleous & CoOn September 14, the Central Bank of Cyprus (CBC) published its latest analysis of data on non-performing loans in the Cyprus banking sector. The analysis covered the period to May 31 2018, and showed aggregate non-performing facilities and related indicators for the domestic operations of credit institutions operating in Cyprus.
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Sponsored by HMP LawAs is well known, anti-money laundering (AML) and know-your-customer rules (KYC) are obligations of service providers like banks and other financial institutions. Their aim is to facilitate investigations into the real identity of customers and the purpose and source of their transactions, so that the services provided to customers will not be used for money laundering, financing of terrorism, tax evasion, or other illegal activities. As transactions involving cryptocurrencies are by nature global yet anonymous, there is thus much room for misuse, so we cannot emphasise enough the importance of AML/KYC in the crypto space.
