International Law & Trade, Business Organization, Commercial Law & Contracts

BVI Trusts: VISTA Trusts

by Harney Westwood & Riegels on 5/23/2013

INTRODUCTION The Virgin Islands Special Trusts Act (“VISTA”) came into force on 1 March 2004 and was introduced in order to allow a shareholder to establish a BVI trust over a BVI company which disengages the trustee from...more

The Top 5 FCPA Fallacies

by NAVEX Global on 5/23/2013

In 2010, the number of federal prosecutions for violation of the Foreign Corrupt Practices Act (FCPA) more than quadrupled. The Department of Justice (DOJ) set a new record for fines and penalties – collecting nearly $1B. The...more

Legal Alert: Supreme Court Unanimously Rules in Favor of Taxpayer, Holds U.K. Windfall Tax Creditable

by Sutherland Asbill & Brennan LLP on 5/23/2013

The United States Supreme Court held Monday in PPL Corporation v. Commissioner (No. 12-43) that a U.S. taxpayer was entitled to claim a foreign tax credit on its share of a “windfall tax” imposed on the taxpayer’s United...more

Renminbi Qualified Foreign Limited Partner: an incremental step toward RMB internationalization in the private equity industry

by Sheppard Mullin Richter & Hampton LLP on 5/23/2013

In a number of incremental steps, the PRC government has been easing restrictions on the cross-border movement of RMB. The latest step for the private equity industry is the Renminbi Qualified Foreign Limited Partner Program...more

Closing Your Business in Colombia

by Marcela Cristina Blanco | Michael Diaz Jr. - Diaz Reus International... on 5/22/2013

In Colombia, as in many other countries, closing down or dissolving a business is often more complicated than setting up a new one. Although there is a lot of information related to setting up a company in this country, there...more

What A Tax Attorney Can Do for You: Understand How Apple, Inc. Legally Does Not Pay Income Tax

by Anthony Diosdi | Moskowitz LLP on 5/22/2013

When Apple Inc., disclosed that it has not paid any corporate income tax over the past 4 years, it got the government’s attention. Hailed before the Senate, Apple is confident in their tax position because, it is legal. ...more

What Are The Essential Elements Of A Corporate Compliance Program?

by Thomas Fox on 5/22/2013

Can you synthesize and reconcile the world’s leading laws, regulations and commentaries on the best practices an anti-bribery and anti-corruption compliance program. ...more

Lessons from Ralph Lauren: Designing Better Ways to Manage Third Party Risk

by NAVEX Global on 5/21/2013

Trying to avoid the unusually strict import controls in Argentina and facilitate faster clearance of its products through customs, a subsidiary of Ralph Lauren Corp. was found to have bribed local officials between 2005 and...more

Playing With Ralph Lauren: A Fair Settlement?

by Michael Volkov on 5/20/2013

The FCPA Paparazzi has been at it again – it is fascinating to watch the reaction of practitioners and commentators in the FCPA arena. ...more

Continuous Disclosure – What to Say and When?

by Adam Levine, Su Sze Ting | K&L Gates LLP on 5/16/2013

Key Points - Continuous disclosure is one of the key elements of ensuring market integrity. With the recent amendments to the Listing Rules and the introduction by the Australian Securities Exchange (ASX) of a new...more

CIS Legal Update - May 2013: Measures Taken to Strengthen Russian Anti-Corruption Laws

by Laura Brank, Olga Watson, Jeremy Zucker | Dechert LLP on 5/14/2013

Despite Russia’s reputation for corruption, the anti-bribery climate in Russia is evolving. A recent flurry of anti-bribery legislation, as well as Russia’s ratification of the OECD Convention on Combating Bribery of Foreign...more

The Compliance Stepchild: Antitrust

by Michael Volkov on 5/13/2013

Let’s try and put this all in perspective. Last fiscal year, the Antitrust Division collected over $1 billion in criminal fines and sent a number of senior executives to prison. ...more

Use Planes, Trains And Automobiles To Get To Compliance Week 2013

by Thomas Fox on 5/10/2013

To say I am excited would be putting it mildly. Yes that most premier of compliance related conferences is on the short horizon; Compliance Week 2013 is nearly upon us. It will be from May 20-22 at the Mayflower Hotel in...more

An Exemption For Foreign Subsidiary Formation

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/8/2013

The formation of a subsidiary under the laws of a foreign country may not seem to implicate the California Corporate Securities Law. Yet, an offer and sale may occur “in this state” within the meaning of Corporations Code...more

What Companies Can Learn From The Ralph Lauren Corporation FCPA Case

by Lauren DeSantis-Then, Noam Fischman, Jonathan Rosen | Polsinelli on 5/7/2013

Last week, a subsidiary of American fashion designer Ralph Lauren Corporation made global news for violations of The Foreign Corrupt Practices Act of 1977 ("FCPA"). In short, FCPA prohibits covered entities – i.e., those that...more

The Three Amigos/Amigas: Compliance, Audit And Legal

by Michael Volkov on 5/7/2013

Every compliance program depends on collaboration. No one actor at a company determines the success or failure of a corporate compliance program....more

Second Circuit Establishes Relevant Time Period for "Center of Main Interests" Determination Under Chapter 15 of the Bankruptcy...

by Rosanne Ciambrone, Rudolph J. Di Massa Jr, William Heuer, Ron Oliner | Duane Morris LLP on 4/29/2013

In Morning Mist Holdings Limited v. Krys (In re Fairfield Sentry Limited), Case No. 11-4376, 2013 WL 1593348 (2d Cir. April 16, 2013), the United States Court of Appeals for the Second Circuit (the "Second Circuit") held that...more

Supreme Court to Consider General Jurisdiction Over Foreign Parent Based on U.S. Subsidiary

by Jason Britt | Foley & Lardner LLP on 4/26/2013

On Monday, April 22, the United States Supreme Court agreed to hear DaimlerChrysler AG v. Bauman, which asks whether a foreign parent corporation can be subject to suit in the United States for wrongs allegedly committed by a...more

Proposed Legislation Would Sweep Certain Offshore Corporations into the U.S. Tax Net and Subject Their Worldwide Income to U.S....

by Dennis Allen, Robert S. Chase II, Jeffrey Mace, Michael Miles, William Pauls, M. Kristan Rizzolo, Carol Tello, P. Bruce Wright | Sutherland Asbill & Brennan LLP on 4/25/2013

The Stop Tax Haven Abuse Act and the International Tax Competitiveness Act of 2013 are two parts of a package of three bills introduced in the U.S. House of Representatives on April 15 by Rep. Lloyd Doggett. A significant...more

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International Law & Trade › Business Organization › Commercial Law & Contracts