Search results for

Chinese dealflow into the European powerhouse continues to rise. But investors must beware the differences between German and US law

Regulatory coordination and foreign authorities’ crackdown suggest the sector should pay closer attention to corporate governance and compliance risks

Foreign investment between the two superpowers has been mired in politics of late. Here are the key considerations when closing such deals

Recent regulations finalised by the US banking authorities could signal a rocky road ahead for foreign banks

For special committees and advisors undertaking going-private transactions, much can be learnt from recent Delaware court rulings. Here’s the latest best practice

New rules that took effect on August 13 regulate marketing activities relating to Canadian public offerings

To compete with bigger international rivals, Asia’s exchanges are working together through partnerships and networks. But some disconnects must be fixed before they reach their potential

Yukiko Konno According to a public announcement by the Japan Fair Trade Commission (JFTC) dated May 29 2013, the aggregate amount of surcharge payment orders issued by the Commission in fiscal 2012 was approximately ¥25 billion, and was made to 113 business entities (the largest surcharge payment order to a single business entity being approximately ¥ 9.6 billion ($257 million)). It is easy to see that sanctions under the Antimonopoly Act have a great impact on companies with operations in Japan. On May 24, the Japanese Cabinet approved an amendment to the Act. The Bill was submitted to an ordinary session of the Diet in June for approval and is now under discussion. The press release announcing the Cabinet decision can be found on JFTC's website, www.jftc.go.jp/en/ pressreleases/yearly-2013/may/130524.html The most significant amendments in the Bill are the abolition of JFTC administrative appeal procedures for certain JFTC orders, including cease and desist orders and surcharge payment orders, and the introduction of hearing procedures before one of those JFTC orders is issued.

With its communication No 0066209 of August 2 2013, Consob, Italy's securities regulator, has introduced additional information requirements applicable to trusts' shareholdings in listed companies.

José Francisco Meier Traditionally, Peruvian project finance structures have used trusts (fideicomisos) either as passive collateral trusts or cash-flow trusts, to serve as collateral and/or debt service payment mechanisms. Approximately 10 years ago, Peruvian trusts began to be used in a unique manner in project financing structures involving payment certificates for advancement of works issued by the Peruvian government (such as CRPAOs or CR-RPIs). In these structures, the referenced certificates were conveyed by the project developer to a special purpose vehicle, which would securitise or use such certificates as collateral for international securities issuances. In these transactions, payments under such certificates were made through trust structures, which additionally included a private registry of certificate holders to ensure payments were properly made to the applicable certificate holder.