Search results for

Foreign banks with operations in the US will now have the same type of capital requirements as domestic bank holding companies.

China-based companies are moving away from Circular 10 when listing abroad. New work-around structures are emerging

The main provisions governing business entities in the Dominican Republic are found in the General Law on Commercial Entities and Individual Enterprises of Limited Liability No. 479, of December 2008. This new legislation was enacted in an effort to modernise local corporate legislation in order to better harmonise its corporate processes and good governance principles with other more modern foreign laws.

Diego Martin-Mejívar The growing importance of international trade and investment by multinational enterprises has led the government to establish a system of control to improve the reception of income from international transactions. For this reason, the government has taken a few measures to solve the problem of price manipulation by the multinational enterprises when they enter into transactions with their branches, subsidiaries or affiliates. This problem translates in the adoption of a fictitious price between related parties to shift income from a high tax country to a low tax country.

The Central Bank of Cyprus has recently announced that the Central Bank of the Russian Federation has removed Cyprus from the list of countries it regards as offshore centres with preferential tax regimes. Under a regulation introduced by the Central Bank of the Russian Federation in 2003, transactions by Russian banks with banks in jurisdictions which appear on the list are subject to a number of restrictions.

Dual listing of shares has been recently implemented in Colombia. Colombian regulations now allow for a foreign issuer to list its shares in the Colombian Stock Exchange (CSE) either (i) by dual listing procedure, or (ii) by registering with the Securities Trading System for Foreign Securities (Sic).

Maria Danailova Viktoriya Petrikova The need to implement Directive 2007/66/EC, which aims to improve the effectiveness of review procedures concerning the award of public contracts, has recently provided an occasion for the business community to advance suggestions for various changes to the Bulgarian Public Procurement Act (PPA). Following publication in State Gazette (52/2010 and 54/2010), the amendments to the PPA are now in force.

Ross Munro The BVI Financial Services Commission (FSC) recently concluded public consultation on the draft Public Funds Code 2010, which is likely to be enforced later this year or early 2011. The Code will apply to all public funds registered under the Securities and Investment Business Act, 2010 (Siba). The Code is intended to make the BVI's regulatory and supervisory environment more attuned to the new standards called for by the likes of the G20, IMF and Iosco.

Indian listed companies may soon be subject to new takeover rules. If implemented, they will hit both acquirers and minority shareholders

DX Services scheme has clarified that reasonable early-bird fees won’t affect creditor classes