Cross-Border

News & Analysis as of

Which Courts Have Jurisdiction to Deal with Claims Against Offshore Trustees?

There have been a number of cases decided recently by offshore Courts (particularly in Jersey and Bermuda), in which the Courts have had to consider the scope of their jurisdiction to determine disputes relating to trusts...more

EU – International data transfers from processors to processors made easier, good news for cloud providers and outsourcers

Working Party 29 issued a working document on model clauses for personal data transfers from EU data processors to non-EU sub-processors. This is an important step towards creating a more comprehensive framework for...more

OTC Derivatives Regulators Group Issues Report to G20

On March 31, the OTC Derivatives Regulators Group (ODRG) issued a report that identifies remaining over the counter (OTC) derivatives cross-border implementation issues...more

The World in US Courts: Winter 2014: Orrick's Quarterly Review of Decisions Applying US Law to Global Business and Cross-Border...

The global law firm Orrick, Herrington & Sutcliffe LLP is pleased to announce the Winter 2014 issue of The World in US Courts: Orrick's Quarterly Review of Decisions Applying US Law To Global Business and Cross-Border...more

Simplified Authorization Procedure for Cross-Border Marketing of Swiss Securities Funds and German UCITS

At the beginning of this year – to the (pleasant) surprise of market participants – an agreement came into force to implement a simplification in the marketing of Swiss securities funds (Effektenfonds) in Germany, and German...more

International Arbitration of Financial Disputes: Key Questions Answered

This article addresses key questions concerning the use of international arbitration in cross-border financial transactions, and includes a discussion of the International Swaps and Derivatives Association (ISDA) September...more

U.S. and European Cross-Border Real Estate Investment: Key Structuring Considerations

Deploying real estate capital across international markets can be a complex exercise, and structuring cross-border investments so that capital can be brought back efficiently adds to the complexity. Accommodating the...more

Moving Towards a Global Harmonized Approach to Cross-Border Data Transfers?

Today, data can be transferred around the world instantaneously, making the global marketplace seem almost borderless. As any multinational company knows, however, compliance with each country’s data transfer and privacy laws...more

SAFE Released Ground Breaking Draft Rules Regarding Cross-Border Security

The State Administration of Foreign Exchange of the PRC (“SAFE”) released the consultation draft of the Foreign Exchange Administration Rules on Cross border Security together with the draft operation guidelines (the “Draft...more

Global HR Hot Topic—March 2014: Global Compensation, Bonus and Benefits Plan Checklist

Business imperatives push multinationals to expand at least some of their pay, bonus and benefits offerings internationally. This is why in recent years we have seen multinationals globalize many compensation and benefits...more

The risk of self-incrimination in cross-border disputes: The use of Canadian discovery evidence in United States...

Royal Trust Corporation of Canada v. Fisherman (“Royal Trust”), a decision of the Ontario Superior Court, is another example of a court addressing the risk that discovery evidence could be used against a defendant in a...more

SEC Action Targets Unregistered Cross-Border Brokerage, Investment Advisory Services

On February 21, the SEC released an administrative order against a foreign financial institution that provided cross-border securities services to thousands of U.S. clients. The SEC asserted that the institution’s employees...more

Corporate and Financial Weekly Digest - Volume IX, Issue 9

In this issue: - CFTC Issues Advisory on Compliance with Gramm-Leach-Bliley Act Security Safeguards - SEC Issues Guidance on Aggregate Advisory Fee Rates for Multi-Manager Funds - Supreme Court Rules that...more

The Cross-Border Perspective: Name Changes and Other Post-Filing or Registration Events Under the UCC and the PPSA

We are U.S. lawyers and don’t practice Canadian law. But we seize every occasion that we have to deepen our understanding of the differences between U.S. and Canadian law. Why? Because understanding the differences allows us...more

Infrastructure Alert - February 26, 2014

President Obama will announce his support for a four-year, $302 billion transportation funding bill to repair and rebuild bridges, tunnels, roads and transit. About $150 billion of the bill would be paid for through corporate...more

OTC Markets Proposes Amendments to OTCQX Rules and New Rules for US Banks

On February 13, OTC Markets Group (OTC) proposed amendments to the OTCQX Rules for both US and international companies. The OTCQX is the highest market tier for over-the-counter trading on the OTC Markets. These proposed...more

Consumer Rights Directive: Significant implications for online businesses with effect from 13 June 2014

The EU Consumer Rights Directive (2011/83/EC) will bring into effect, from 13 June 2014, significant changes to German consumer rights. The aim of the Directive is to standardise national legislation across member states,...more

Cross-Border Employers Must Take Care Before Implementing Drug-and-Alcohol-Testing Policies at Non-U.S. Operations

Many U.S.-based employers perform pre-employment, post-accident, or random drug testing, and with some exceptions, are generally permitted wide latitude in deciding when to conduct such tests. The U.S. attitude toward drug...more

SEC and DOL Reach $21 Million Settlement with Adviser Over Alleged Failure to Disclose and Correct Trading Errors and Improper...

The Securities and Exchange Commission (the “SEC”) and Department of Labor (“DOL”) reached settlements with Western Asset Management (the “Adviser”), a registered investment adviser and subsidiary of Legg Mason Inc., under...more

The risk of self-incrimination in cross-border disputes: The use of Canadian discovery evidence in U.S. criminal/regulatory...

A common scenario in which the privilege against self-incrimination is threatened occurs when a person is party to criminal or regulatory proceedings in the United States (U.S.) and civil litigation in Canada....more

Supreme Court Clarifies the Parameters of the “First Sale” Doctrine in the Cross-Border Context

First Sale Doctrine - Under the Copyright Act, the exclusive right of a copyright owner “to distribute copies . . . of [a] copyrighted work,” 17 U.S.C. § 106(3) is limited, in part, by the “first sale” doctrine. The...more

Investment Advisers and Funds – New Treasury Report Form for Foreign Claims and Liabilities

The Department of the Treasury recently amended Treasury International Capital (“TIC”) B forms to explicitly require reporting of cross-border claims on and liabilities to foreign residents by savings and loan holding...more

Pressure on U.S. Crude Oil Export Restrictions Increases along with Domestic Production

The debate regarding U.S. restrictions on crude oil exports is escalating. Due to an increasing domestic supply of crude oil, primarily from shale oil production, a number of policymakers and members of the oil industry have...more

EU Commission to investigate cross-border pay-TV movie services – a new Murphy’s law?

Executive summary - The European Commission has commenced antitrust proceedings against several prominent European pay-TV service providers and major U.S. film studios including Sony Pictures Entertainment,...more

International Forum Selection Clause Enforceable Against Employee, Says The Second Circuit

Martinez v. Bloomberg, LP, No. 12-3654 (2d Cir. Jan. 14, 2014): The Second Circuit confirmed that international forum selection and choice of law clauses in cross-border employment agreements are enforceable. Here, a former...more

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