News & Analysis as of

EU Adopts a Parent-Subsidiary Directive Amendment on Hybrid Loans

On July 8th 2014, the European Union’s Economic and Financial Affairs Council (ECOFIN) adopted an amendment to the Parent-Subsidiary Directive (PSD). This amendment is targeted at cross-border hybrid loans and aims to...more

The CFTC’S Cross-Border Application of the Dodd-Frank Act

After years of anticipation, the U.S. Commodity Futures Trading Commission in July 2013 issued more than 300 pages of “guidance” ostensibly to assist market participants in understanding the breadth of the extraterritorial...more

Finding Peace When Settling U.S. and EU Price-Fixing Claims

The great majority of private antitrust disputes are resolved through settlements. One of the key challenges for policymakers, practitioners, consumers and businesses is how to efficiently resolve cross-border price-fixing...more

Orrick's Financial Industry Week in Review - December 10, 2013

Council of EU Publishes UK Issues Paper on MLD4 - On November 24, the Council of the European Union published a note (dated November 8, 2013) from the Council Presidency to Council Delegations which includes a UK...more

E-Commerce: Consider the Enhanced Consumer Protection Clauses

The directive 2011/83/EU of 25 October 2011 relating to consumer rights (the "Directive") is to be implemented as of December 13, 2013 by Member States in national European jurisdictions, including French jurisdiction, and...more

Changes in Consumer Law for Distance Contracts in the EU

Differing levels of consumer protection in the laws of the EU member states create barriers to cross-border trade, especially to Internet based distribution systems. These barriers affect likewise businesses and consumers....more

The National Bank of Ukraine: Cap on maximum floating interest rate increase in loan agreements no longer imperative

The National Bank of Ukraine (the "NBU") reported on 23 October 2013 that its letter demanding parties to cross-border loan agreements to forecast maximum floating interest rate increases is no longer relevant....more

Business Across Borders - Leaving the nest: an overview of companies’ international ventures

With global forecasts for trade growth remaining well below the average of the past 20 years, the last article in our Business Across Borders series, written by the Economist Intelligence Unit, and launched today, examines...more

Orrick's Financial Industry Week in Review - July 22, 2013

SEC and EU Supervisory Cooperation for Asset Management Industry - On July 19, the SEC announced that it signed various memoranda of understanding with the financial regulators of 25 member states of the EU and 3...more

CFTC approves final cross-border guidance of the swap provisions of the Dodd-Frank Act

Following yesterday’s announcement by the Commodity Futures Trading Commission and the European Commission of a joint understanding regarding a coordinated approach to the regulation of cross-border derivatives (for a further...more

Preparing for AIFMD: Some Practical Tips, Part 1

In This issue: - A general round-up of key provisions in the AIFMD level 2 implementing regulations - Scope of the AIFMD - Timetable and transitional relief - Cross-border marketing - Delegation and...more

Aquila: M&A Looking Up in 2013; "The Negatives Are Built In"  [Video]

15 Feb. (Bloomberg Law) -- Frank Aquila, partner at Sullivan & Cromwell, talks with Bloomberg Law's Lee Pacchia about the prospects for mergers and acquisitions activity in 2013. Aquila notes that while 2012 was something of...more

Privacy in Latin America

Originally published in Privacy & Security Law Report on January 7, 2013. The privacy landscape in Latin America is undergoing significant changes. With the enactment or implementation of laws in Colombia, Costa Rica,...more

European Commission Publishes 2013 Action Plan on Key Changes to European Company Law and Corporate Governance

The European Commission has published an Action Plan (the Plan) on European company law and corporate governance for 2013. The Plan sets out 16 different priority actions to be taken by the Commission, including proposed...more

Resolving Financial Institutions – A Joint Paper by the FDIC and the Bank of England

On December 10, the Bank of England (the Bank) and the Federal Deposit Insurance Corporation (the FDIC) published a joint paper entitled ‘Resolving Globally Active, Systemically Important, Financial Institutions’ (G-SIFIs)....more

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