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Stamatiou Costas On February 21 2013, the Cyprus Securities and Exchange Commission (CySEC) issued a circular addressed to Cyprus investment firms (CIFs) to draw their attention to the obligations attached to their freedom to provide services in other EU member states (host member states). The provision of services under the freedom to provide services means that a CIF provides services freely in the host member state without having a physical presence there, for example through its website. Different arrangements apply if the CIF has employees or representatives physically present in the host member state acting on its behalf. These are contained in article 76 of the Investment Services Law, which regulates the establishment of a branch or the appointment of a tied agent attached to a branch established in the host member state. A CIF providing investment services in a host member state under the freedom to provide services must notify CySEC of its intention to do so in accordance with article 79 of the Investment Services and Activities and Regulated Markets Law of 2007, as amended (the Investment Services Law). Article 79 stipulates that a CIF may not start to provide services or perform activities in the host member state until it receives notification from CySEC that the competent authority of the host member state has been informed of its intention to provide services there.

Distributors of foreign QIFs must soon adapt to the revised Swiss rules. Here’s what they need to do

Italy has become the latest EU nation to introduce a financial transaction tax. But who do the rules apply to, and how will the tax will be levied?

Banks and lawyers are at odds with the UK Association of Corporate Treasurers, private placement working group over the principal barrier to domestic market growth.

If there were a phrase to sum up market sentiment in 2013, 'cautious optimism' would be it.

South Africa is the continent’s guiding light on competition matters

One risk that banks are now willing to take Corporates in the Asia-Pacific have traditionally used banks to finance acquisitions. With the implementation Basel III set to significantly curtail banks ability to lend, local counsel have outlined the alternative funding sources they expect to emerge in the region this year. Panelists at February's IFLR-IPBA M&A Forum predicted more innovative financing across the region this year, with leveraged buyouts (LBOs) expected in Thailand, Indonesia, Malaysia and the Philippines.

The comment letter process needs to be taken more seriously

China’s asset management industry is seeing a drive towards expansion and unification. But will it benefit all parties?

Paris was a hive of activity last month with the biggest news being WHITE & CASE's capture of five lawyers from Linklaters' capital markets team, including some of the firm's leading lights. Three partners – Cenzi Gargaro, Philippe Herbelin and Séverin Robillard – are joined by consultant and former market star lawyer Gilles Endréo, and associate Thomas Le Vert who joins as a partner.