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Americas

Keith Noreika The past month witnessed a bit of a slowdown in terms of lateral moves in the US. In contrast to the previous two months, there were no multi-partner jumps from one firm to another, and fewer partner moves overall.

September 26 2016

Brexit's implications for merger control

The EU’s one-stop shop principle for concentrations faces an uncertain future following the UK’s Brexit decision. Several scenarios could play out

September 26 2016

What the AIFMD passport means for US funds

Managers could benefit from the extension of the current EU passporting regime. Work is underway to develop a suitable regulatory framework

IFLR Correspondent, September 26 2016

Closing conditions

The lighter side of the past month in the world of financial law

September 26 2016

Switzerland: Reporting money laundering

Andrew M Garbarski In a recent milestone decision dated May 24 2016 (decision 6B_503/2015), the Swiss Federal Supreme Court (SFSC) held, for the first time, that the duty of financial intermediaries to report suspicions of money laundering may extend beyond the end of the relevant business relationship.

September 26 2016

China’s crackdown on illegal PE funds lacks steam

The China Securities Regulatory Commission (CSRC) has conducted a sweeping crackdown on illegal private equity fundraising activities onshore, but rules and regulations specifically tailored to address them remain outstanding.

September 26 2016

Vietnam: Overtime work in Vietnam

Nguyen Thi Thanh Huong Cheaper labour and long-working hours are advantages for developing countries wishing to attract foreign investment. Vietnam is one Asian country which has these advantages. According to Labor Code 2012, a normal working day is eight hours-long, which amounts to 48 hours a week. The current minimum wage for low-skilled employees in private companies ranges from VND2,400,000 to VND 3,500,000 ($109 – $159).

September 26 2016

Guatemala: New financing legislation

Diego Alejos Bill 4895 (the Factoring Agreement and Discount Law) and Bill 4896 (the Leasing Agreement Law) have been thoroughly discussed in Congress recently. Both aim to help the development of the nation's economy, by providing individuals with new financing methods. Both bills also introduce some interesting concepts which, if applied, could be beneficial to the contracting parties.

September 26 2016

Indonesia: Mandatory tender offer rules

Oene Marseille Emir Nurmansyah The Financial Services Authority of Indonesia (Otoritas Jasa Keuangan, or OJK) is expected to release a circular letter abolishing the mandatory tender offer requirements for participants of the tax amnesty programme that buy or become the controller of more than 50% of the shares of a public company.

September 26 2016

Cyprus: Client identity checks

Elias Neocleous In June 2016 the Cyprus Securities and Exchange Commission (CySEC) issued circular 143, which clarifies the effect of recent amendments to article 62 of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007. Article 62 sets out the requirements regarding verifying the identity of clients and beneficial owners.

September 26 2016

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