Mondaq Europe: Finance and Banking
The OECD Economic Outlook is issued bi-annually and analyzes the major economic trends and prospects for the subsequent two years.
Last month the US Federal Reserve’s Chairman sent a shock wave through equity markets by suggesting the Fed might slow its programme of Quantitative Easing.
On 6 November 2012, the Ukrainian Parliament adopted changes to the Law of Ukraine "On the Procedure of Carrying-Out Settlements in Foreign Currency".
Belgium has adopted new legislation on the creation and enforcement of security interests in moveable assets.
The Ministry of Finance and the Central Bank of Cyprus issued a decree on 27 March 2013 with regards to the enforcement of temporary restrictive measures on banking transactions in Cyprus.
When Cyprus and the Eurogroup (consisting of fi nance ministers of the EU member states having the Euro as their currency) decided on the terms of a memorandum of understanding with Troika (consisting of the European Commission, the European Central Bank and the International Monetary Fund) the whole world was taken by surprise.
The Republic of Cyprus continues to issue new decrees pertaining to the relaxation of restrictive measures.
So far more than 50 parties, both local and foreign, have filed recourse proceedings in the Cyprus Supreme Court based on the resolution measures agreed by the Eurogroup and the Republic of Cyprus.
The latest relaxations pertaining to transactions were passed on 17 May 2013 in Decree No 12 under the Enforcement of Restrictive Measures on Transactions in case of Emergency Law of 2013.
A number of refinements have been made to the "economic citizenship" programme described in our news item dated 22 April 2013.
The Bonds Act has been significantly amended.
The European Securities and Markets Authority has published a consultation paper on May 24, 2013.
The German Parliament adopted new regulatory requirements for algorithmic and high frequency trading.
Following industry engagement with the Central Bank with regard to the requirement to include a list of transactions with connected parties.
Despite the well documented economic challenges endured in Ireland over the past number of years, the appetite of international companies to invest in Ireland continues to grow.
REITs are a much needed addition to our investment landscape, providing a tax efficient vehicle for international investment in property.
One aspect of the European Commission's handling of the current financial crisis that has received relatively little mainstream coverage is the way in which it has applied the State aid rules to the measures taken by the Member States to shore up their financial systems and to rescue their banks and in the process greatly expanded its oversight role in financial services markets.
In a move that should be welcomed by mortgage lenders and other interested parties the Minister for Justice, Equality and Defence, Alan Shatter T.D. published the Land and Conveyancing Law Reform Bill 2013.
Given the current uncertainties facing banks in the exercise of various repealed statutory powers, the sooner the Bill is enacted and the Start Mortgages decision is consigned to history, the better.
The Shahs' claim was in relation to a delay in the processing of four separate payment instructions.
The Ministry of Finance and the Central Bank of Cyprus issued a decree on 27 March 2013 with regards to the enforcement of temporary restrictive measures on banking transactions in Cyprus.
When Cyprus and the Eurogroup (consisting of fi nance ministers of the EU member states having the Euro as their currency) decided on the terms of a memorandum of understanding with Troika (consisting of the European Commission, the European Central Bank and the International Monetary Fund) the whole world was taken by surprise.
The Republic of Cyprus continues to issue new decrees pertaining to the relaxation of restrictive measures.
A number of refinements have been made to the "economic citizenship" programme described in our news item dated 22 April 2013.
Existing funds which no longer invest after July 22, 2013 are not required to comply with the provisions of the KAGB, even if the manager of such funds also manages funds which still make investments.
In this article we shall attempt to outline the definition of interest, so called( Riba) under the Sharia or Islamic law , followed by a short survey of the laws of some Arab countries which have prohibited or permitted charging interest.
A discussion on the EU Regulation on OTC Derivatives, Central Counterparties and Trade Repositories which was adopted on 4 July 2012 and entered into force on 16 August 2012.
As the UCITS acronym suggests, its original focus was on investment in "transferable securities" although UCITS do offer far wider investment possibilities, as explained below.
The approval of the European Parliament on 16 April 2013 of the CRD IV legislative package means that once it is formally approved by the Council of Ministers, that the CRD IV legislation will apply across the European Union.
The European Commission has published on its website answers to questions it has received on the interpretation of the Alternative Investment Fund Managers Directive.
The draft legislation transposing the European Union’s Alternative Investment Fund Managers Directive into Luxembourg law was submitted to the grand duchy’s Chamber of Deputies by finance minister Luc Frieden on August 24.
This memorandum is based on a study prepared by Mr Jacques Elvinger and Mr Marc Elvinger within the framework of the "Luxembourg Round Table on Microfinance" at the request of ATTF, with the support of the Luxembourg Ministry of Finance.
The European Securities and Markets Authority has approved co-operation arrangements between EU securities regulators, with responsibility for the supervision of alternative investment funds including hedge funds, private equity and real estate funds, and 34 of their global counterparts.
The European Securities and Markets Authority published on May 24 its final report on guidelines for key concepts under the Alternative Investment Fund Managers Directive.
Due to the drastic downturn of financial state for a majority of companies in Ukraine, recovery of debts becomes even more in-demand than ever.
For each of the last three years both the global economy and equity markets have moved through short seasonal cycles, with a dip in economic data and market performance in the second quarter, followed by an upturn midway through the summer months.
This weekly update from Clyde & Co's Financial Services Regulatory Team summarises new developments as reported by the FCA, the PRA, the UKLA, the Upper Tribunal, the Financial Ombudsman Service and the London Stock Exchange over the past week.
A report representing a compilation of views from those in our firm engaged in commodity markets.
On Monday 25 March, the FCA’s Risk Outlook and Business Plan for 2013-14 were published.
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A discussion on the EU Regulation on OTC Derivatives, Central Counterparties and Trade Repositories which was adopted on 4 July 2012 and entered into force on 16 August 2012.
Financial transaction taxes, also known as Tobin taxes or Robin Hood taxes, have featured increasingly in the news over the last few years.
A considerable part of Dmitry Rybolovlev's fortune in Cyprus, in the form of deposits at the BoC and an investment of 500 million euro in shares, has been lost.
The German Parliament adopted new regulatory requirements for algorithmic and high frequency trading.
A discussion on the impact of the America’s FATCA regulations for trustees.
Recent changes in Cypriot legislation have not had a significant impact on the international status of Cyprus as a reputable financial centre which offers one of the most attractive tax regimes in Europe and an extensive network of double tax treaties.
On Monday 25 March, the FCA’s Risk Outlook and Business Plan for 2013-14 were published.
The draft legislation transposing the European Union’s Alternative Investment Fund Managers Directive into Luxembourg law was submitted to the grand duchy’s Chamber of Deputies by finance minister Luc Frieden on August 24.
A report representing a compilation of views from those in our firm engaged in commodity markets.
The presence of effective spot and derivatives markets is very important for new power-generation investments as well as the optimisation of existing generation capacity.
