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  • As speculation grows over HSBC’s HK office moving to quarterly financial reporting, other in-house counsel have called for authorities to make it mandatory
  • Andreas Moll
  • On March 9 2011 Korea's Financial Supervisory Service (FSS) announced its Best Practice Guidelines for Internal Use and Management of Information Technology. The Guidelines are effective from April 1 2011, although where a financial institution needs time for implementation of new systems, the FSS will allow the institution until October 1 2011 to come into compliance.
  • Svetlana Savina
  • The Bangko Sentral ng Pilipinas (the Philippine Central Bank, or BSP) recently amended the existing regulations on the single borrower's limit (SBL) imposed on banks and financial institutions. The SBL is intended to prevent an overconcentration of credit risk, and imposes a ceiling on the amount of loans, credit accommodations and guarantees which a bank or financial institution can extend to a single borrower or its related entities.
  • Claudia Chiper
  • Pablo Berckholtz
  • Group holding structures and family business do result in related party transactions (RPT). A lot has been written as to how RPT can and do short change minority shareholders and even creditors. The Securities and Exchange Board of India (Sebi) has consistently been in favour of establishing a voting system where a majority of disinterested shareholders vote for RPT at shareholders meetings.
  • Wolfgang Freund
  • While the US is embracing looser covenant packages, Europe is behind the pace