WHAT ROLE WILL THE GOVERNMENT OF KOREA PLAY IN APPROVING AND REGULATING FOREIGN DIRECT INVESTMENT?
The Korean government takes an active, investor-friendly role in approving and regulating foreign direct investment....more
Continuing its aggressive use of Geographic Targeting Orders (GTOs) to fight money laundering, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced on July 7 that it was renewing a GTO in Southern...more
Hong Kong is always rated as one of the world’s freest economies, one of the reasons being that the government has always adopted the approach of nonintervention.
Hong Kong strives to attract more foreign investors to...more
REGULATION OF FOREIGN INVESTMENT -
One of the first matters a foreign company or investor must consider when planning to invest in New Zealand is the impact of New Zealand’s foreign investment policy.
On June 29, the Financial Action Task Force (FATF) issued a report, Guidance for a Risk-Based Approach to Virtual Currencies,part of a staged approach focusing on the points of intersection that provide gateways to the...more
There is no precedent for a country leaving the Euro, and speculation continues as to how the crisis will unfold, and what the consequences would be of an exit of a member. There is uncertainty around various scenarios, not...more
On 10 June 2015, the Bank of England (“BoE”), HM Treasury (“HMT”) and the Financial Conduct Authority (“FCA”) published the final report on the “Fair and Effective Markets Review” which had been launched one year ago with the...more
Cancellation of the Military Tax on Currency Exchange Transactions -
On 12 May 2015 the Verkhovna Rada of Ukraine adopted the Law of Ukraine “On Amendments to the Tax Code of Ukraine in Respect of the Military Tax” which...more
Welcome to the May 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, a German engineering firm tests Brazil's recently implemented anticorruption...more
In his Budget speech delivered in 17 March, the Chancellor confirmed the Government’s plans with regard to crypto-currency, with detailed contained within a published Treasury document....more
On February 25, 2015, the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2015 (SI 2015/369) was published with an explanatory memorandum. The Order comes into force on April 1, 2015, and...more
CSBS publishes Draft Model Regulatory Framework to promote consistent state regulation of virtual currency activities and protect consumers in the event of a breach. In March 2014, “Mt. Gox,” one of the largest and best-known...more
If there is one industry that needs an ethics overhaul, it has to be the financial industry. The list of transgressions continues to grow – AML/sanctions, LIBOR, Foreign Exchange Currency Cartels and Market Manipulations,...more
On December 5, 2014, the New York Department of Taxation and Finance (Department) released TSB-M-14(5)C, (7)I, (17)S. This (relatively short) bulletin sets forth the treatment of convertible virtual currency for sales,...more
In this issue:
- Recent Developments Relating to Rights to Exclude Shareholder Proposals from Proxy Statements
- SEC Approves MSRB Best Execution Rule
- SEC Sanctions Operator of Unregistered Virtual...more
By letter of 2 September 2014 No. 3723-08/30327-07 the Ministry of Economic Development and Trade (the "Ministry of Economy") provided a clarification (the "Clarification") regarding the application of currency equivalent of...more
Generally, there are no exchange controls in Australia. However, taking currency notes (in any currency) to the value of AUD10,000 or more must be reported.
In some cases there may be financial...more
Canada has a vibrant Internet community. Because of the great expansion of the Internet in Canadian homes and businesses, Canada and its provinces have, in recent years, regulated Internet activity and...more
In a recent meeting, a representative of the SEC accounting staff noted that the SEC staff is focusing on how companies with operations in Venezuela are affected by the various foreign currency exchange mechanisms in...more
FinCEN issued an advisory (the “Advisory”) to update financial institutions on the increased use of “funnel accounts” as part of trade-based money laundering (“TBML”) by criminals in the aftermath of the 2010 through 2012...more
The depth and liquidity of the investor base in the US institutional term loan market provides an attractive alternative for European borrowers in the leveraged finance market and has been a key source of financing liquidity,...more
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
1. What role does the government of Indonesia play in approving and regulating foreign direct investment?
The existing Indonesian Investment Act is Law No. 25 of 2007 passed by the Indonesian House of Representatives...more
Executive summary -
..Currency exchanges are needed during the production of most films and some television programmes
..That can result in a currency loss or gain
..Financiers need to be sure any...more
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