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The fight against organised crime

Following the promulgation of the Act on Prevention of Unjust Acts by Organised Crime Group Members in 1992, organised crime groups in Japan began increasingly to attempt to conceal the true nature of their organisations as ordinary businesses and use more sophisticated methods to generate funds through complex transactions such as equity investments and real-estate transactions.

January 30 2012

Private equity investments in Nigeria

Olabanji Adenusi In recent times, private equity investments in Nigeria have grown considerably. Notable investments within the country include Actis Capital's $130 million investment in Diamond Bank Nigeria and Emerging Capital Partner's investment in Notore Chemical Industries, among a host of others. Most PE deals in the country are hinged on management buyouts and restructuring, unlike in developed economies where they consist mainly of leveraged buyouts.

January 30 2012

Securitisations and downgrading of swap counterparties

A rating is, in substance, the opinion expressed by a rating agency as to the ability of an entity to generate the funds necessary to meet the commitments undertaken with respect to its creditors. It is based mainly on an economic assessment, although in certain circumstances the economic assessments must go parallel with contractual structures.

January 30 2012

The treatment of segregated portfolio companies in onshore liquidations

Colin Riegels Like most other developed offshore jurisdictions, the British Virgin Islands promotes a type of company which seeks to compartmentalise the assets and liabilities of various portfolios away from other portfolios and the company's general assets. In the British Virgin Islands these are known as segregated portfolio companies (SPCs). In other jurisdictions the equivalent type of company is often known as a protected cell company or segregated cell company.

January 30 2012

Why multinationals should use asset purchases in China

Asset purchases are a popular way to make strategic acquisitions in China while avoiding red tape. But they should be approached with caution

January 30 2012

A capital question

Just around the end-of-year holiday, the Federal Reserve Board proposed several rules related to capital requirements for US banks.

January 30 2012

Stricter penalties for administrative offences in the monetary and banking sectors

It has been common in Vietnam to see prices listed in foreign currencies, and traditionally items, especially land, have been valued in gold rather than money. However, with the erratic fluctuations in the financial markets, the devaluations of the Vietnamese dong (VND) and the sharp increase in the price of gold, the State of Vietnam has determined to exert stricter control over financial markets and particularly the widespread use of foreign currencies and gold pricing on the domestic market.

January 30 2012

Kickback payments in Swiss asset management

Andreas Moll On August 29 2011, the Swiss Federal Supreme Court rendered a decision concerning kickback payments by banks (retrocession) in favour of asset managers.

January 30 2012

Amendments to Taiwan’s Securities and Exchange Act

Chun-yih Cheng In order to, among other things, strengthen the supervision of listings by foreign companies in Taiwan, accord minority shareholders a right to apply for inspection, and ease general listing procedure, the country's Securities and Exchange Act was amended on December 12 2011:

January 30 2012

Incomplete mortgage foreclosure reform

Yolanda Berenguer Spanish news reports almost daily feature stories of families being evicted for not meeting their mortgage payments; undoubtedly, this is due to the recession affecting all of Europe, particularly Spain. The figures speak for themselves. Between 2007 and 2010, the number of judicial mortgage foreclosures in Spain increased by 531%. In addition, the overwhelmed state of the courts has resulted in delayed foreclosure proceedings (between 18 and 24 months, in the courts of first instance).

January 30 2012

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