The cause of an action in defamation exists to provide some recourse and remedy to victims of falsehoods which can and do cause injury to reputation. In a classic formulation, recently adopted and approved by Geopel J ...
Open source software ("OSS") is quickly entering the mainstream and becoming increasingly widely used. In fact International Data Group analysts have predicted that the OSS marketplace will be worth £35 billion by 2008. OSS is software that is freely available (without discrimination) and can be copied, modified and redistributed ...
Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, method, procedure and place of submitting the reports for statistical purposes by a pension asset management company for the pension asset management company itself and for individual pension funds established and managed by it, and by a supplementary pension company for the supplementary pension company itself and for individual pension f
Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, manner, procedure and place of submitting the reports to the National Bank of Slovakia by factoring companies, instalment financing companies and leasing companies for statistical purposes. This Measure is published in the Bulletin of the National Bank of Slovakia (Issue No ...
The Ministry of Foreign Affairs of the Slovak Republic announced the adoption of the Treaty on Accession of the Czech Republic, Republic of Estonia, Republic of Cyprus, Republic of Latvia, Republic of Lithuania, Republic of Hungary, Republic of Malta, Republic of Poland, Republic of Slovenia and Slovak Republic to the Double Tax Treaty in case of adjustment of profit of associated companies, dated 23 July 1990 as amended by the Treaty of 21 December 1995 and the
Pursuant to the Act on Old-Age Pension Savings, the National Bank of Slovakia issued this Decree stipulating the requirements for the content of an annual and halfyear report on asset management in a pension fund, and annual and half-year report on equity management in a pension asset management company, as well as the content and structure of daily information about each transaction with pension fund assets ...
Pursuant to the Act on Supplementary Pension Savings, the National Bank of Slovakia issued this Decree stipulating the requirements for the content of an annual and halfyear report on asset management in supplementary pension fund and annual and half-year report on equity management of supplementary pension company ...
Pursuant to the Act on Banks, the National Bank of Slovakia issued this Measure defining the content, format, terms, form, method, procedure and place of submitting reports to the National Bank of Slovakia for statistical purposes. This Measure has been published in the Bulletin of the National Bank of Slovakia (Issue No ...
On 24 August 2006, the China Securities Regulatory Commission ("CSRC"), People's Bank of China ("PBOC") and the State Administration of Foreign Exchange ("SAFE") jointly issued new regulations, the "Measures for the Administration of Investment in Domestic Securities by Qualified Foreign Institutional Investors" (the "New QFII Rules") that govern the regime allowing qualifying foreign institutions approved by the CSRC as Qualified Foreign Institutional Investors ("QFIIs") to invest in China A sh
This article was first published in Invest Romania, October 2006 issue. 1 Common customs policy The enlargement of the European Union automatically triggered the enlargement of the scope and applicability of the common commercial policy promoted by the member states towards the new member states ...
In the recent past, the State Supervision of Financial Organizations (the "SSFO") has published its guidelines on its official website regarding the possibility of providing financial services in the territory of Hungary by credit institutions/financial enterprises with a registered seat in a Member State of the European Union in the form of cross-border services through agencies by means of the Hungarian Bank Act ...
The recently introduced Pension Protection Act 2006 makes two important changes to the definition of the term "plan assets" for the purposes of ERISA. The new legislation continues to provide that the assets of a fund or other entity will not constitute "plan assets" and will therefore not be subject to the fiduciary obligations under ERISA if less than 25% of the value of each class of equity in the entity is held by "benefit plan investors" ...
By January 2007 all EU members are supposed to adopt MiFID, including its implementation measures published in June 2006. Firms carrying out investment services will then have to comply with it by November 2007. MiFID should greatly facilitate EU cross-border activities since passported firms will no longer be subject to prudential regulation in each country where they provide services but only by their home country ...
In the recent Feedback Statement (FS06/2) from the UK's Financial Services Authority (FSA) to its Discussion Paper entitled "Hedge funds: A discussion of risk and regulatory engagement", the FSA identified the use of side letters as an area of concern where a market failure may be present, thus potentially requiring regulatory intervention by the FSA ...
The SFC has recently published a guide to the information required to be submitted to the SFC in relation to risk management and control processes by fund managers seeking approval to use the expanded investment powers under UCITS III (Guide). The Guide sets out the items and areas relating to the risk management and control process that the SFC normally expects to be provided in order to give the SFC an understanding of the risk management processes of the relevant UCITS III funds ...
The People's Bank of China, the Chinese central bank, recently announced principle policies for the financial services sector on outbound investments in overseas markets by Chinese nationals and corporations. These policies are generally regarded as the Qualified Domestic Institutional Investors (QDII) program in the market ...
On 1 March 2004, the Provisional Administrative Rules Governing Derivative Activities of Financial Institutions were implemented by the China Banking Regulatory Commission (the "CBRC") and constituted the first set of substantive regulations governing the derivatives business in China ...
Shareholders with a substantial interest in a listed company are required to disclose their shareholdings in order to improve market transparency, prevent insider trading, and facilitate informed investment decisions. In most countries in Asia, initial disclosure is required once a shareholder acquires an interest in 5% of a listed company’s voting shares. In Taiwan and Sri Lanka it is 10% ...
Further to the recent amends to the Portuguese Securities Code arising from the implementation of the EU Directives on the prospectus to be published when securities are offered to the public or admitted to trading and on insider dealing and market manipulation, the Portuguese Securities Exchange Commission (“CMVM”) approved a set of rulings and guidelines1 now creating an overall framework on the new Inside Information regime. I ...
Procuring and implementing an ICT system within an organisation can be a stressful task. High profile failures in both the public and private sectors hit the headlines all too often. The National Audit Office's report last month on the £6.2bn NHS IT upgrade in England put many of the challenges firmly in the spotlight. In the heat of the procurement process it is easy to forget some basic procurement principles ...
On 14 July 2006, the Hong Kong and Mainland China Governments signed a ground-breaking agreement, rather lengthily entitled "An Arrangement on Reciprocal Enforcement of Judgments in Civil and Commercial Matters by the Courts of the Mainland and of the Hong Kong Special Administrative Region pursuant to Choice of Court Agreements between Parties Concerned" (Arrangement), under which they agreed to recognise and enforce judgments made in each others courts ...
Every day in Mumbai, India, a team of 5,000 couriers deliver, collect and return 200,000 lunch boxes. This massive logistics operation is undertaken with an error rate of less than 1 in 8 million deliveries and without using any information technology. Enormous labour cost disparities enable this manual operation to be undertaken cost-effectively ...
Although the United Kingdom comprises England, Scotland, Wales and Northern Ireland, this guide relates only to the current position in England and Wales because Scotland and Northern Ireland have their own individual legal systems. The rules and procedure of the Civil Courts in England and Wales are contained in the Civil Procedure Rules (CPR) which were introduced in 1999 and which lay down the framework within which all civil litigation must be conducted ...
The Bangko Sentral ng Pilipinas (BSP, the Philippine Central Bank) recently issued Circular No. 518, s. 2006, which authorizes banks to enter into joint venture agreements (JVA) with real estate development companies for the development of properties acquired by banks in settlement of loans and other advances, either through foreclosure or dacion en pago (ROPAs) ...
