Search results for

The Securities and Exchange Board of India this month announced a raft of primary market reforms in a bid to facilitate retail investment and capital raising. But lawyers are unconvinced the changes will be effective

Dr Wolfgang Grobecker Dr Eva Nase Although embedded in a European Legal Framework, a European Company (Societas Europaea or SE), which is registered in Germany more or less resembles a German Aktiengesellschaft (AG). The administration and management, the corporate governance and the rights of shareholders of a German SE are primarily governed by its articles of association and by national statutory laws: in Germany by the laws applicable to an AG, in particular the German Stock Corporation Act (Aktiengesetz), unless the EU regulation or the national implementation laws provide otherwise. In practice, German statutory laws have more of an influence on the governance of an SE than the European legal framework. An SE can be incorporated in Germany in five ways: (i) by way of a merger of two stock corporations; (ii) by incorporating a joint holding or (iii) a joint subsidiary SE; (iv) by a transformation of a German AG into an SE; and (v) by incorporating a subsidiary SE by another SE.

Nicole Ong Gerald Cheong From August 10 2012, companies intending to list on the Mainboard of the Singapore Exchange (SGX) must meet stricter entry requirements. An issuer must have: a minimum consolidated pre-tax profit of at least S$30 million ($24 million) for the latest financial year with an operating track record of at least three years; a market capitalisation of not less than S$150 million based on the issue price and post-invitation issued share capital if it has been profitable in the last financial year with an operating track record of at least three years; or a market capitalisation of not less than $300 million based on the issue price and post-invitation issued share capital with a generated operating revenue in the latest completed financial year. In addition, the minimum issue price will be raised from S$0.20 to S$0.50 per share.

Michael Barz, SNR Denton Christopher Shoff, Cooley David Hernand, Cooley Capital markets practices are flourishing and it's been a strong summer for lateral hiring in this space, particularly for SNR DENTON. In the first week of August, the firm lured Kenneth Wright from Skadden Arps Slate Meagher & Flom to its New York office. In the same week the firm also announced the hiring of Michael Barz, formerly of DLA Piper, as a partner in its business transactions practice in New York.

Investigations into South Korea’s CD rate-setting prompted the country’s FSC to introduce the Cofix benchmark for short-term lending rates. But there are issues with Cofix setting too

David Cho, Dechert Beijing was the region's busiest lateral market during July and August – particularly with corporate movements – and MAYER BROWN came up trumps. The firm made two significant corporate hires in Dechert partner Henery Wang and Orrick Herrington & Sutcliffe's Billy Au.

A simpler consent process is needed for DIFC funds The Dubai International Financial Centre (DIFC) Authority has announced Jeff Singer as its new chief executive. The appointment of the former CEO of Nasdaq Dubai is part of a major shake-up of the Authority's senior management in preparation for its next phase of growth. Nabil Ramadhan has also been named acting CEO of DIFC Properties. The new appointments come as Dubai's government-owned financial free zone reorganises into two independent entities: the DIFC Authority, the business development and legislation arm, and real estate branch DIFC Properties.

Alix Prentice, Taylor Wessing With the European summer drawing Londoners from their desks, the UK lateral hires market has been relatively quiet for the past two months. There were, however, some movements of particular note. Linklaters' capital markets team lost partner Brigid Rentoul to futures and hedge funds management firm Winton Capital Management. Another investment funds move saw Nabarro's Justin Cornelius join BERWIN LEIGHTON PAISNER.

The German engineering company has shown the region’s high-yield issuers how to tap retail investors

Following a spate of scandals, IFLR asked bankers’ counsel if it’s time to break up the mega-banks