The Enforcement Committee of the French Financial Markets Authority has held a management company liable for having failed its due diligence process while investing in funds related to Bernard Madoff.
This article is a brief overview on some cases which may have triggered a duty to consult.
This article reviews U.S.-China Rule of Law Initiative, the prospects for legal reform in China, and the appropriate role of foreign entities.
The Anti-Corruption Law entered into force in Brazil last month. Under the new law, parent companies, subsidiaries, other affiliates and consortiums are jointly and severally liable for payment of fines and indemnification of damages resulting from unlawful acts. Read this article for further discussion of the main matters covered by the new law.
Foreign companies doing business in China have focused in recent days on the case of GlaxoSmithKline (“GSK”), the British multinational producer of pharmaceuticals, biologics, vaccines and consumer healthcare products headquartered in London. Articles to date, however, have been more descriptive than analytical and have focused more on the alleged acts and potential implications for the individuals allegedly involved and not as much on potential exposure for the corporate entities and those corporate officers who were not directly involved in actions violating PRC law. This article addresses those points while also placing the case in the broader context of China today.
The following article is a discussion of a draft of tax regulations recently approved by Parliament.
A recent Portuguese law implemented important modifications to tourism. This article aims to highlight in a non-exhaustive manner the changes that are of most consequence.
In 2013 the following occurred: New legislation was passed to lighten administrative constraints on the development of wind farms; new rules on loans extended to local authorities have been adopted to limit future exposure of the local public sector; and the French constitutional court ruled that the French legislative cannot adversely affect legitimate expectations without sufficient general interest grounds.
An article discussing steps the Singapore Government tried to take to cool the increased rates of real estate.
The Company Law of the People’s Republic of China currently in force adopts a company registration system under supervision. Specific rules within the legislation cover a registered capital system requiring a minimum amount of registered capital, a certain capital contribution period and a minimum ratio of cash contribution.
This article reviews the recent amendments to the law. This reform relaxed the governmental supervision required and will see significant innovations in the company registration system, especially in the registered capital aspect.