Everything Compliance-Episode 12
This note considers the current state of the law in Hong Kong with respect to foreign illegality and whether it can set aside defences of bona fide purchaser for value without notice or change of position, in the context of...more
Who may be interested: Registered Investment Advisers. Quick Take: The SEC settled charges against a registered investment adviser alleging that the adviser failed to fully disclose to its clients foreign currency...more
In MUR Shipping BV v RTI Ltd the English Court of Appeal has overturned by majority the judgment of the Commercial Court in MUR Shipping BV v RTI Ltd [2022] EWHC 467 (Comm) and provided fresh guidance on when alternative...more
Harmonizing business laws, a revised foreign exchange regulation and introducing a new currency. Currency is a hot topic in West and Central Africa, in both the Economic and Monetary Community of Central Africa (EMCCA, or...more
After several months of stability of the difference between 1) the "black" market price to buy dollars and 2) the official rate of the Venezuelan government, the biggest fall of the year occurred in July 2019 with respect to...more
The hyperinflation that Venezuela suffers, and the collapse of the purchasing power of the bolívar soberano (successor of the bolívar fuerte, which was the successor in turn of the bolívar without qualification), have...more
Mylan will pay $465 million to federal authorities to resolve claims that it overcharged the Medicaid program by millions for its EpiPen products. Though large, the figure represents about a third of the estimated...more
98% of the liabilities of Lehman Brothers International (Europe) (in administration) (“LBIE”) were denominated in non-sterling currencies. The fall in sterling after LBIE entered administration resulted in significant paper...more
BACKGROUND - Due to the recent strong desire to convert Renminbi (“RMB”) funds into foreign currency and remit foreign currency amounts outside of China (“China” or the “PRC”, which excludes Hong Kong, Macau and Taiwan...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
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
A growing number of foreign and Chinese companies are accessing the renminbi (“RMB”) bond market to fund projects, enhance liquidity and improve their working capital in China. These companies can raise capital while avoiding...more