Russian Mergers & Acquisitions Market - Challenges and Opportunities
On October 6, 2015, the Court of Justice of the European Union (“EU”) issued a judgment declaring that the United States Safe Harbor Decision is invalid. That Decision had been rendered by the EU Data Protection Commission...more
By a new Resolution of the National Bank of Ukraine (the "NBU") No. 654 dated 1 October 2015 (the "Resolution") a procedure on application of sanctions was introduced....more
On October 1, 2015, the new versions of the following regulations will come into legal force and effect:
- The Rules for the state registration and re-registration of maximum sale prices set by pharmaceutical...more
The new personal bankruptcy law enters into force on 1 October 2015. Individuals will now be allowed to go bankrupt while creditors are left to struggle. The rules have caused much apprehension and it remains to be seen how...more
Early in July 2014, the Russian Federal Act on Data Protection was amended to require that personal data of Russian citizens be first processed and stored on servers located within the territory of Russia. Initially, the...more
On September 9, 2015, the Federal Service for Supervision of Communications, Information Technology and Mass Communications (the “Roskomnadzor”) reported on its website that it blocked an extensive online database of more...more
The Department of Treasury’s Office of Foreign Asset Control continues to ramp up sanctions enforcement. Even with the likely relaxation of the Iran and Cuba sanctions, OFAC has been continuing its aggressive enforcement...more
The Council of the European Union (EU) has extended the existing EU framework of trade and economic sanctions targeting specific Russian individuals and entities, and certain sectors of the Russian economy until 15 March...more
On September 16, 2015 the President of Ukraine signed Decree No. 549/2015 on the application of special sanctions.
By this Decree a variety of personal special economic and other restrictions (the Sanctions) have been...more
A CD or not a CD, That is the Question… That the Auditors Should Have Answered -
A headline-grabbing SEC enforcement action last week against BDO USA and several of its national partners may lead audit firms to insist on...more
Investments Industrial Clusters and Parks -
On 31 July and 4 August 2015, the Government adopted Resolution No. 779 in relation to industrial clusters and their specialized organizations and Resolution No. 794 in...more
On August 31, the DOJ announced that Vadim Mikerin, the former president of TENAM Corporation and a director of the Pan American Department of JSC Techsnabexport (TENEX), pleaded guilty to conspiracy to commit money...more
The English High Court has clarified one aspect of service of English proceedings in Russia under the Hague Convention.
The English Courts remain an attractive venue for Russian related litigation. A claimant wishing to...more
On September 2, 2015, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) issued a final rule amending the Export Administration Regulations (EAR) by adding 29 parties to its Entity List, a...more
The U.S. Department of State imposed sanctions on September 2, 2015, against 23 companies around the world for involvement in the transfer or purchase to or from Iran, North Korea or Syria of goods, services or technology...more
On September 1, 2015, Russia’s new law requiring data localization, Russian Federal Law No. 242-FZ (“Russia’s Data Localization Law”) became effective. Although Russia’s Data Localization Law makes multiple changes to...more
Russia’s new Data Localisation Law went live yesterday on 1 September. Many companies with operations in Russia are scratching their heads about how to comply.
The Basics -
The new law applies to businesses with a...more
Just one month before the new Data Localisation Law (‘the law’) is due to come into force, the Russian Ministry of Communications has published its long-awaited clarifications (in Russian) to the new law....more
Welcome to the August 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange...more
Russia has, today, implemented a Data Localisation Law. It requires information about Russian citizens to be stored in Russia and many businesses are concerned about how best to comply. There has also been some recent...more
The Foreign Corrupt Practices Act was aimed at halting corrupt payments made to improperly influence foreign officials. In drafting the Act Congress chose not to impose liability on the foreign official involved in corrupt...more
The Chinese stock market crash and world- wide effect on stock markets around the World has created a crisis with day to day developments. The World Stock market crash stated on August 24, 2015 and went through to August...more
Privacy and data security professionals worldwide should circle September 1 on their calendars, as it’s the day Russia’s new data localization law goes into effect – and possibly generates major waves far beyond Russian...more
On 8 March 2015, the President signed Federal Law No. 42-FZ "On Amending Part 1 of the Russian Civil Code."
The amendments aim at increasing the stability and predictability of contractual relations under Russian law at...more
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