On December 30, 2022, the Asset Management Association of China ("AMAC") issued a consultation draft of the Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法 (征求意见稿)》) and the ancillary Guidelines No. 1-3 on private fund manager registration (collectively, the "Draft Rules"). On February 24, 2023, AMAC issued the updated Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法》) (the "Measures") and the ancillary Guidelines No. 1-3 (i.e ...
On December 30, 2022, the Asset Management Association of China ("AMAC") issued a consultation draft of the Measures for Registration and Filing of Private Investment Funds (《私募投资基金登记备案办法 (征求意见稿)》) (the "Draft Measures") and the ancillary Guidelines No. 1-3 on private fund manager registration〔i.e. Guideline on Basic Operational Requirements ("Guideline No. 1"), Guideline on Shareholders, Partners and Actual Controllers ("Guideline No ...
The purpose of the amalgamation is to enhance quality and efficiency and is not intended to represent a change in the Norwegian export finance policy. The financing schemes and services currently available will therefore continue also after the amalgamation. Export Finance Norway will be a part of the Norwegian State ...
On 2 July 2021, the Government gazetted the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021 (Bills). These new laws aim to open up new channels enabling foreign investment funds to be re-domiciled and registered in Hong Kong as open-ended fund companies (OFCs) or limited partnership funds (LPFs) ...
I. Background On March 4, 2020, Supreme Decree (the “SD”) Nr. 183, issued by the Ministry of National Defense, Undersecretary for the Armed Forces, was published in the Official Gazette (the “Amendment”), which amended SD Nr. 9, the New Regulation on Maritime Concessions (the “New Regulation”), which in turn substituted the previous regulation contained in SD Nr. 2 of 2005, issued by the former Undersecretary of Navy. II ...
On May 19, 2006, Act No. 214/2006, Coll. was announced in the Collection of Laws, which amends Act No. 455/1991, Coll., the Trade Licensing Act, as amended, and certain other acts; this act became effective on August 1, 2006 ...
On April 20, 2022, the government issued Order in Council 656-2022, which makes significant amendments to the Regulation respecting categories of insurance contracts and classes of insureds that may derogate from the rules of articles 2500 and 2503 (the ?Regulation?). The original version of the draft regulation with the same title (the ?Draft Regulation?) was the subject of one of our publications last September ...
Bill 96 ? An Act respecting French, the official and common language of Québec (the ?Act?) - was adopted on May 12, 2022 and assented to on June 1, 2022, its effective date. Certain provisions are already in force; for other provisions, a transitional period ranging from several months to three years will apply ...
With the signing of a Protocol of Amendments (“PoA”) and the approval by the U.S. House of implementing legislation, the United States, Canada and Mexico are on track for final approval of the US-Canada-Mexico Agreement (the “USMCA”) by the middle of February 2020, which is the anticipated time frame for the vote by the U.S. Senate. If that proceeds as expected, the USMCA would take effect 90 days later, before the end of May ...
Amendments to Zimbabwe’s controversial Indigenisation and Economic Empowerment Act, Chapter 14:33 (the “Act”), were gazetted on 14 March 2018. These far-reaching changes, first announced in the 2018 Budget in December 2017, should pave the way for foreign investors wishing to establish operations in the country and boost the economy ...
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“ARPA”) which is another coronavirus stimulus package aimed at speeding up the United States’ recovery from the economic and health effects of the COVID-19 pandemic ...
The Securities Act [SA] allows the Autorité des marchés financiers [the “AMF”] to order investigations to ensure compliance with the SA and to repress contraventions which may be committed1. This is the context in which the Court of Appeal handed down a decision2 on June 22, 2012 going to the very heart of the role played by the AMF’s investigators and the scope of their powers during examinations conducted in connection with an investigation ...
All eyes were on health care in 2020, as the industry faced unprecedented challenges presented by the global coronavirus pandemic. Stories and images of overburdened frontline health care workers dominated the news cycle for most of the year, and the rapid development of one or more seemingly effective vaccines has engendered a cautious optimism for a return to normalcy in 2021 ...
Dallas Bar Association Tort and Insurance Practice Section Today-more than ever-corporate management is under attack. In the wake of the Enron debacle, corporate decisions are more carefully scrutinized, and the conduct of the company’s directors and officers are now constantly under the watchful eyes of investors, creditors, and government regulators ...
On February 12, 2024, the Court of Appeal of Quebec handed down its decision in Société d?assurance Beneva inc. c. Bordeleau,1 dealing in particular with the burden of proof incumbent on an insurer when it denies coverage on the basis of an insured?s intentional fault, and an award of damages against an insurer for breach of its duty of good faith. The facts This decision was rendered further to a dispute between Société d?assurance Beneva inc ...
The Chinese insurance market has grown considerably after China’s accession to the World Trade Organization (WTO) in 2001. For example, China’s annual premium income has increased from 210.9 billion yuan in 2001 to 703.6 billion yuan in 2007 and for the first half of 2008 insurers in China have collected premium income of 561.79 billion yuan which exhibits continuing growth ...
We publish the new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 2nd quarter of 2022 brings together the most significant new developments in these areas. In this newsletter, you can find legislative news regarding the National Bank of Angola, President of the Republic, Government/Parliament and CMC ...
Banco Nacional de Angola (“BNA”) continues to be very active in producing foreign exchange legislation. It recently revised the rules on foreign exchange operations of current invisibles, goods and capital, carried out by resident and non-resident individuals, through Notice 17/20 of 3 August (the“Notice”). The main change made by this notice concerns non-resident foreign workers (“expatriates”) ...
With the Paradise papers leak in 2017 and the infamous Panama papers leak the year before, it has become increasingly more important to choose the right destination for offshore investment. It will require careful consideration, planning and skilful professional advice. It will also no doubt require a jurisdiction with a politically and economically stable environment, sound legislation, low tax (or zero tax), a solid banking framework and a discreet environment ...
Over the last decade, Latin American nations have put considerable effort into demonstrating their willingness to overcome the increasing amount of counterfeit activity in the region These efforts were intensified particularly after the US Trade Representative (USTR) released a warning, by inserting Argentina and Brazil in its “priority watch list” and by applying even greater restrictions to Paraguay, as subject to Section 306 of the 2003 Special 30
Following the global trend for tax transparency and fighting harmful tax practices, Ukraine finally adopted its ownanti-BEPS package law, known by businesses and tax practitioners as "tax bill 1210". Asters selected the key takeaways for businesses operating across the borders. The law is in effect starting from 23 May 2020 with some provisions taking effect later. I ...
Lessons in Using Employee Non-Compete Agreements An increasing number of companies are requiring their employees (new and existing) to sign so-called “non-compete” agreements. Many of these agreements prohibit employees from working for their employer’s competitors for a period of time after the termination of employment. Some are less restrictive—prohibiting former employees from performing certain duties or dealing with the former employer’s customers ...
Anton Dzhuplin, Partner of ALRUD Corporate/M&A practice and Co-Head of Crisis Management, Economic sanctions and Compliance practice, was re-elected as Vice Chair for the Year In Review of the International M&A Joint Venture Committee of the American Bar Association International Law Section. Within the Committee, world leading experts specializing in M&A share best practices and update information in the international law, raising their professional expertise ...
In our previous article, we reported on the Supplemental Arrangement Concerning Mutual Enforcement of Arbitral Awards between Mainland China and the HKSAR (Supplemental Arrangement) made on 27 November 2020, which made certain revisions to the Arrangement Concerning Mutual Enforcement of Arbitral Awards between Mainland China and the HKSAR, as follows: Recognition of arbitral awards -The Supplemental Arrangement clarified that the procedures set out in the Arrangement shall be in
