International Trade Finance & Banking Antitrust & Trade Regulation

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Private Equity Investors Are Not Immune to Antitrust Risks in the EU

Earlier this month, the European Commission imposed fines totaling nearly EUR 302 million on producers of underground and high-voltage power cables, based on allegations that the producers had engaged in illicit market...more

Cartel Fines: Liability of Private Equity Funds

The European Commission has held Goldman Sachs jointly and severally liable for a cartel infringement committed by Prysmian, an Italian cable maker formerly owned by Goldman Sachs’ private equity arm. The decision is a stark...more

Survey: 28 Reasons Why The Typical Compliance Officer’s Week Leaves Dangerously Little Time for Corporate Ethics Training

I just downloaded and read the annual Cost of Compliance survey compiled by Thomson Reuters Accelus. It’s very interesting reading for those of us in the ethics and compliance industry. In my last blog post about the ERC...more

Red Notice Newsletter - March 2014

This month on the anticorruption front, a New York court orders two former Siemens executives to pay record civil penalties in a bribery case involving the company’s Argentina business; Canada prosecutes former executives...more

FTC, PIRG complaint reports highlight consumer dissatisfaction with debt collection industry

The FTC released its annual Consumer Sentinel Network Data Book on February 27, 2014, providing national and state-by-state data on consumer complaints received by the FTC, all U.S. and Canadian Better Business Bureaus, the...more

Commitment To Compliance: The Compliance Committee

Sunday was the 69th anniversary the most iconic photo of World War II, at least from the American perspective. Of course it was the raising of the American flag at Mt. Suribachi on Iwo Jima. To say that one photo cannot...more

C’Mon Man Or The End Of The World?

It’s the end of the world as we know it,It’s the end of the world as we know it,It’s the end of the world as we know it, and I feel fine - The above lyrics came from REM and they reflect how I generally feel about law...more

Successful Strategies For Doing Business In Asia: Taiwan

1. What role does the government of Taiwan play in approving and regulating foreign direct investment? Three types of Taiwan government approval requirements may be relevant to direct foreign investment in...more

"Antitrust and Competition: Nonmerger Enforcement Activity Heats Up on Both Sides of the Atlantic"

U.S. and European antitrust agencies had similar enforcement priorities last year, a trend we expect to continue in 2014. Nonmerger enforcement will continue to focus on intellectual property, financial services and...more

Orrick's Financial Industry Week in Review - January 27, 2014

Lehman Court Finds Safe Harbors Protect Damage Calculation Provisions in Swap - Judge James M. Peck issued a significant opinion in the Lehman Brothers bankruptcy late last month, which preserved important safe...more

December 2013: Structured Finance/Antitrust Update - Major Banks Face New Antitrust Investigations and Civil Suits

On the heels of the investigations into manipulation of LIBOR and price-fixing in the aluminum markets, the world’s largest banking institutions now face new inquiries from domestic and international antitrust regulators into...more

European Commission Imposes EUR 1.71 Billion Fine for Participating in Illegal Cartels

On December 4, the European Commission announced that it had fined eight international banks a total of more than 1.7 billion for their participation in illegal cartels in markets for financial derivatives covering the...more

Canadian Government Rejects Accelero–Allstream Deal on National Security Grounds

On October 7, 2013, Minister of Industry James Moore announced that the “Government of Canada has concluded its review of Accelero Capital Holdings’ proposed acquisition of the Allstream division of Manitoba Telecom Services...more

NCUA Files LIBOR Action

On September 23, the NCUA announced a lawsuit against 13 international banks alleging violations of federal and state antitrust laws by artificially manipulating the London Interbank Offered Rate (LIBOR) system. The NCUA...more

What Happened to the Libor Scandal?

No longer headline news, you may be wondering… “What happened to the Libor scandal?” Answer: It is not gone, and the residual effects remain unresolved. To date, at least a dozen international banking institutions still face...more

Guidelines of the Federal Antimonopoly Service

In this alert we discuss the Guidelines on the Procedure and Technique of Analysis of Joint Venture Agreements Containing Non-Compete Clauses which were approved by the Presidium of the Federal Antimonopoly Service (FAS of...more

The Sweet Spot of the Mexican Telecom Reform (Part 1/3)

This is part 1 of 3-part post on the recently published Mexican Telecom Reform. Follow me to explore the great opportunities to come. What ever happened to the Telecom Market. Mexican Telecom Reform is now on...more

Operational Regulatory Risks Facing Private Equity Firms

If you work in the private equity world, you probably know that you are already exposed to a variety of regulatory risks and obligations that can have a significant impact on your firm’s operations and financial rate of...more

Mexican Telecom Reform: The Rise of the STEM Lawyers

The Reform started effects on June 12, 2013. As from this moment, several deadlines were triggered that will define the new telecom and antitrust landscapes: - Since June 12, 2013, foreign companies and individuals can...more

A Game Changer For Competitive M&A Transactions? Federal Court Passes Judgment On Bidding Tactics (Australia)

WHAT HAPPENED? A mining consumables company was sold to a private equity firm. Seven hours later, the company was onsold at a $22 million premium to a competing Australian mining consumables company well known to the...more

License to travel: how regulation is benefiting business abroad [Video]

Our Business Across Borders report series, written by The Economist Intelligence Unit, investigates the biggest issues facing global business. The first of five reports and video commentary, Licence to travel, examines the...more

European Commission Opens Antitrust Investigation into MasterCard

The Commission initiated an investigation last week into the inter-bank fees charged by MasterCard in relation to payments made by card-holders from non-EEA countries, restrictions placed by MasterCard on retailers attempting...more

Banks Shed Libor Antitrust Claims

On March 29, the U.S. District Court for the Southern District of New York dismissed the antitrust claims brought by plaintiffs in numerous consolidated actions against 23 financial institutions over their alleged...more

Commission Launches First State Aid Investigations Into Football Clubs

The European Commission opened the first in-depth investigation into alleged State aid for professional football clubs. This comes after the Commission launched investigations into the financing of arenas. It is likely that...more

Credit Crunch Digest -- March 2013

This issue of the Credit Crunch Digest focuses on developments in antitrust-based Libor claims against major banks; the status of European Union investigations into Libor manipulation; developments in IndyMac-related...more

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