Resource Library

This briefing is the first in a series that will look at legal aspects of the Solvency II regime and their implications for firms. It considers the legal framework of Solvency II, how near each element of the framework is to completion and what needs to happen next, how Omnibus II has changed the previously published regime, the transitional relief that firms can expect to get from 1 January 2016, and how Solvency II will be applied to insurers and reinsurers in the UK.

The recent cases testing the new provisions have led to a number of useful decisions to help guide foreign representatives in understanding the Canadian regime and what courts can — and are willing — to do to assist cross-border proceedings. Together with the proactive steps taken by the CLUC to create model recognition and supplemental orders in the context of foreign main proceedings, foreign representatives can find comfort that the underlying principals of the Model Law are respected and recognized in Canada.

Last year, the National Development and Reform Commission (NDRC) issued the Administrative Measures for Approval of Outbound Investment Projects (Draft for Consultation). These measures do not make any significant changes in the outbound investment project approval and verification process and timeframe set out in the Interim Measures, which they are replacing, but they do relax several requirements as well as incorporate a few regulatory changes adopted by the NDRC in recent years.

This article explains Law no. 8,212/91, which sets forth labor accidents insurance tax rates.

What legislation is applicable to insolvencies and reorganisations? What criteria are applied in your country to determine if a debtor is insolvent?

What legislation is applicable to insolvencies and reorganisations? What criteria are applied in your country to determine if a debtor is insolvent?

A brief discussion of how improvements in mining and agriculture law affect the Brazilian financial services industry.

A review of how Brazil's recent Anti-Corruption Law intersects with its Bankruptcy Law, with particular focus on the Bankruptcy Law's allowance of the sale of a business without the inheritance of any liabilities.

Recently, the European Commission adopted decisions against the cartels in Euro and Yen interest rate derivatives, imposing fines to banks and financial institutions. These fines are the highest imposed by the Commission in cartel cases to the present day. These decisions illustrate the intense and added scrutiny to which the financial sector has been subjected by competition authorities in the EU and elsewhere.

In 2012, China's State Administration of Foreign Exchange promulgated the Circular on Further Improving and Adjusting Foreign Exchange Administrative Policies on Foreign Direct Investment (Circular No. 59). It replaces more than 30 approval requirements with simpler registration procedures, streamlines many administrative procedures for foreign exchange transactions and relaxes some restrictions on funds used for foreign direct investment (FDI). The changes resulting from it are reviewed in this article. <br />