Financial institutions continue to prepare for the anticipated cessation of the publication of the London Interbank Offered Rate (LIBOR) benchmark after the end of 2021 and its replacement with “risk-free” overnight rates, including reformed SONIA (for sterling) and the new SOFR rate (for U.S. dollars). Transitioning affected financial products to the new rates and amending legacy books is a massive project for any sizable institution.
FEB 28, 2018 ISSUE 8/2018 FINANCIAL REGULATORY DEVELOPMENTS FOCUS Proxima Nova A ExCn 35pt In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website. IN THIS ISSUE Bank Prudential Regulation & Regulatory Capital ..............................................................................................
Last month the Insolvency Working Group released its second and final report, dealing with voidable transactions and Ponzi schemes. The Group's first report was released in July 2016 and dealt with regulation of insolvency practitioners and voluntary liquidations. In the second report, the Working Group make a number of recommendations on the voidable transaction regime and regarding protection from Ponzi schemes. In relation to voidable transactions, the primary recommendations were repealing the "gave value" part of the defence available to creditors with a view to incre
Welcome to the first issue of International News for 2014. In this issue we focus on employee benefits.
First, however, in our Features section, we consider a number of ways of mitigating risk in African investments. As Africa becomes increasingly developed, investment opportunities are becoming increasingly appealing, but investors must still act wisely.
Year in Review – Hong Kong Law in 2016
Key Highlights
I. Supreme Court: Scope of intervention by High Courts in cases of orders passed by the National Company Law Tribunal
II. Supreme Court: State legislature cannot enact law which affects the jurisdiction of the Supreme Court
III. Supreme Court: Difference between inadequacy of reasons in arbitral award and unintelligible awards
IV. NCLT: RP can take possession of a corporate debtor's assets which are subject matter of litigation to facilitate the corporate insolvency resolution process
The Indian Insolvency & Bankruptcy Code, 2016 (IBC) has seen several challenges in recent times. The Indian Government has been proactive in responding to these. In response to the recent set of challenges, the Government intends to implement another round of amendments to the IBC. The key takeaways from this proposed amendment are discussed below.
Virtual Currency: State of pandemonium continues
I. Relief for foreign investors: Supreme Court of India sets aside the Bombay High Court ruling in IDBI Trusteeship Services case The Supreme Court of India in the case of IDBI Trusteeship Services Limited vs. Hubtown Limited (decided on November 15, 2016) set aside a Bombay High Court ruling which had garnered quite a lot of attention among the foreign investors and in the legal circles. N e d e r l a n d s e F i n a n c i e r i n g s- M a a ts c h a p p i j v o o r Ontwikkelingslanden N.V.
New disclosure requirements imposed on listed companies under the Securities and Futures Ordinance (“SFO”) have been effective since on 1 January 2013.
Under these requirements, a listed company is obliged to disclose inside information as soon as reasonably practicable when the information has or ought reasonably have come to the knowledge of an officer of the listed company.