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Funds Investing in U.S. Manufacturing Companies: Foreign Investor Considerations

Operators of manufacturing companies, especially those considering a sale or capital raise, should understand investors’ concerns regarding direct investment. Today, investment funds with investors and investments in multiple...more

Supreme Court’s Latest Interpretation on Late Payment Interest

The Supreme People’s Court of China recently issued an interpretation on how to calculate the interest accrued on delayed payment – Interpretation of the Supreme People’s Court of Several Issues Concerning the Applicable Law...more

FCPA Compliance and Ethics Report-Episode 80, Interview with the FCPA Professor, Part I [Video]

In this Part I of a two-part interview with the FCPA Professor, we visit about his new book, The Foreign Corrupt Practices Act in a New Era. ...more

Tax update: Australian tax and GST treatment of bitcoin and other crypto-currencies

Earlier today the ATO released its long awaited public guidance on the Australian tax and GST treatment of bitcoin and other crypto-currencies. This guidance was originally scheduled to be released on 30 June 2014. It was...more

OFAC Issues Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property are Blocked

The Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has issued revised guidance with respect to entities owned 50 percent or more in the aggregate by one or more blocked persons....more

Securities Litigation Update

The summer may feel like a more leisurely time of year, but not in securities litigation news. Here are some of the more significant headlines...more

OFAC Issues New Guidance Regarding Status of Entities Owned by Specially Designated Nationals and Blocked Persons

The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new guidance regarding the status of entities that are 50% or more owned by persons or entities whose property and interests in property are...more

U.K. Commission Says “No” to Bounties for Whistleblowers

The United Kingdom’s Parliament has been considering offering whistleblower bounties similar to those offered under the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act. A commission formed by the Bank of...more

New EU Sanctions Target Russian Oil Sector, State-Owned Banks and Military Exports

The European Union (EU) enacted Council Regulation (EU) No 833/2014 (the Regulation), which contains ‘Stage 3’ sanctions against Russia. These sanctions resemble – but in other ways are different – from the latest US...more

ICE Futures U.S. Issues Amendments to EFRP Rule and FAQs

On August 8, ICE Futures U.S. revised its rule and frequently asked questions related to exchange of futures for related position (EFRP) transactions. The amendments codify the requirements regarding the simultaneous transfer...more

Private placements: tapping the US market

European corporates are turning to the US private placement market in growing numbers, as they seek to broaden and diversify their sources of funding while locking in some attractively priced long-term debt. When Smith...more

Foreign Brokers Doing Business in the United States

Foreign brokers that engage in securities transactions with U.S. investors based in the United States must be registered with the Securities and Exchange Commission (SEC). There are two major exceptions to this rule. The...more

Mexican President Signs Historic Energy Reform into Law

On Monday, August 11, 2014, Mexican President Enrique Pena Nieto signed a package of energy secondary laws passed by the Mexican Congress (the “Legislation”) that will overhaul the Mexican oil and natural gas, petrochemical,...more

New Legislation Concerning The Immobilisation Of Bearer Shares And Units

The Act intends to adapt Luxembourg legislation to the recommendations of the Financial Action Task Force (the FATF) and the global Forum on transparency and exchange of information for tax purposes (the Global Forum) in...more

An Appreciation for Hedging Your Bets on Deferred Compensation

Under Section 457A of the U.S. Internal Revenue Code of 1986 (the “Code”), certain offshore and other entities are limited in their ability to provide tax-effective deferred compensation to providers of services to those...more

Sovereign Litigation in Latin America: Top Five Issues To Think of When Doing Business With a Latin American Country

“We are in the soup” exclaimed, federal judge Thomas Griesa, referring to Argentina allegedly defaulting on its sovereign bonds. And so we are. According to bondholders, on July 30 of 2014, Argentina defaulted on its...more

Amendments to the Civil Code of the Russian Federation Effective From 1 July 2014

Part I of the Civil Code of the Russian Federation - A further set of amendments to the Civil Code of the Russian Federation ("Russian Civil Code"), introduced by Federal Law No. 367-FZ On Amendment of the First Part...more

China Business Series: Repatriation of Funds out of China

China imposes controls on the inflow and outflow of foreign exchange. Given the involvement of State Administration of Foreign Exchange and various other governmental agencies in the process, repatriating funds from China can...more

SANCTIONS UPDATE - New Treasury Guidance on Aggregation of Ownership Interests

On August 13, the U.S. Department of the Treasury published revised guidance on the treatment of entities owned by persons whose property and interests in property are blocked under the Executive Orders and regulations...more

OFAC Issues Revised Guidance on Aggregation of Ownership Interests

On August 13, 2014, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued revised guidance with respect to the “50% Rule,” which established that an entity owned 50% or more, directly or indirectly, by a...more

The US sanctions against Russia – in an evolving context, key points for business

Starting in March of this year, the United States imposed economic sanctions in response to Russian-led actions in Ukraine. Since March, responding to the deteriorating situation, US sanctions have continued to escalate. ...more

FinCEN Advisory to US Financial Institutions: Create Culture of Compliance - Senior Management, Leadership and Owners of...

On Aug. 11, 2014, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued FIN-2014-A007 (the "Advisory"). Among other things, the Advisory highlights the importance of maintaining a strong...more

Energy Reform With Respect to Hydrocarbons

This Client Alert has the purpose of briefly analyzing the key provisions of the Hydrocarbons Act (the “Act” or the “HA”) and the Hydrocarbon Revenues Act (the “HRA” or, together with the HA, the “Hydrocarbon...more

Issuance of the Mexican Secondary Laws in Connection with the Constitutional Energy Reform

As of Aug. 11, 2014, all the secondary laws pertaining to the Mexican Energy Reform (published Dec. 20, 2013), were published in the Mexican Official Gazette. The scope of the secondary laws published on Aug. 11, 2014,...more

How Convenient: Vessel Registration and Mortgages in the Republics of the Marshall Islands and Liberia

Two registries of significant interest to shipowners are the registries of the Republics of the Marshall Islands and Liberia. Significantly, insofar as it does not conflict with the statutory laws, each country has adopted...more

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