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Morrison & Foerster Address

Andreas Moll Pursuant to a press release of February 3 2012, the Swiss Competition Commission (Comco) has received information regarding potentially unlawful cartel agreements among banks. Specifically, collusion between derivative traders might have influenced the Libor and Tibor reference interest rates. Furthermore, market conditions regarding derivative products based on these reference rates might also have been manipulated. The Commission has therefore opened an investigation against UBS and Credit Suisse, as well as more than 10 foreign institutions (Bank of Tokyo-Mitsubishi UFJ, Citigroup, Deutsche Bank, HSBC Holdings, JP Morgan Chase, Mizuho Financial Group, Rabobank Groep, Royal Bank of Scotland Group, Société Générale, and Sumitomo Mitsui Banking Corporation).

Courage Isibor Shares relate to the proprietary interest that shareholders have in a company and are the basis for the existence of a relationship between a company and its shareholders. The significance of this interest is that it is the object through which the holders become members of a company, such that the issuance of a share certificate under the common seal to shareholders constitutes prima facie evidence of the title of the members to those shares (s.1 of the Companies and Allied Matters Act). This paper-based system, however, is fast becoming obsolete, as technological advances have resulted in a global preference for electronic mechanisms of recognising the ownership of shares.

Freddy Karyadi Oene Marseille Under Rule No IX.D.1 (Attachment to the Decree of the Chairman of Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK) No Kep-26/PM/2003, dated July 17 2003) on Pre-emptive Rights, each shareholder has a pre-emptive right upon any issuance of new shares of a public company. Such rights would enable the shareholders to purchase newly-issued securities, including shares, securities convertible into shares and warrants, before they are offered to other third parties.

With the Financial Services Bill reaching the second reading in the House of Commons, the new regime is getting closer. What will the changes mean in practice?

The proposed prudential standards for Sifis could dramatically affect the economic model of non-bank covered companies

The SEC’s Office of the Whistleblower report on its first seven weeks gives clues as to its focus and its activities. Here’s what companies should do next

An exit from the euro needs to be legal to achieve its purpose

While regulation is a concern for many, participants at the IFLR?Structured Products and Derivatives Forum see a strong 2012 for derivatives in Europe

Nicholas Papapolitis of Papapolitis & Papapolitis provides a critical review of the new procedures of the Greek Bankruptcy Code