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In the case of a self-managed Fund, the Investment Services Committee appointed by the Fund’s Board of Directors can delegate the day-to-day investment management of the fund assets to one or more portfolio managers. However, it is imperative that the committee itself holds meetings at least on a quarterly basis ... Read More »
Home > Tag Archives: Financial Services
Tag Archives: Financial Services
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Guidelines on Internal Governance (GL 44) and the impact on Swedish credit institutions
March 28, 2014
The European Banking Authority (“EBA”) has published “Guidelines on Internal Governance” (GL 44). EBA’s guidelines aim to strengthen internal governance and control at credit institutions and securities institutions. Read More »
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New legislation implements a time limitation on pending capital in Danish companies.
March 26, 2014
In Denmark the founder of a limited liability company or a limited partnership has the option to pay in only part of the capital when establishing the company. Read More »
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by: Lund Elmer Sandager
in Corporate law, Denmark
Payment Institutions
January 7, 2014
Malta’s banking sector has taken great strides forward in the last fifteen years, expanding from four banks offering services to the Maltese population to a sophisticated EU-compliant banking sector which comprises a large amount of payment institutions (PIs) complementing this sector. Read More »
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by: EMD Advocates
in Banking and finance, Malta
Electronic Money Institutions in Malta
December 5, 2013
The European Union promoted the concept of e-money alongside massive strides in technology to bolster the status of e-commerce in Europe. Malta was one of the first EU Member States to allow standalone Electronic Money Institutions (EMIs) by removing the unnecessary rigidity surrounding this market. Read More »
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by: EMD Advocates
in Banking and finance, Malta
Oklahoma Court Enforces Terms of Pollution Buy-Back
November 5, 2013
In its recent decision in Star Ins. Co. v. Bear Prods., Inc., 2013 U.S. Dist. LEXIS 148559 (E.D. Okl. Oct. 16, 2013), the United States District Court for the Eastern District of Oklahoma had occasion to consider the coverage afforded under a pollution buy-back endorsement. Read More »
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New Wellness Program Rules for 2014
November 5, 2013
Employers continue to look for ways to manage the cost of employee health care coverage as they navigate the turbulent waters of healthcare reform, and wellness programs continue to be a popular strategy. Read More »
Directors’ liability in Germany
October 16, 2013
Posted by: Susanne Hermsen In Germany, the Geschäftsführer is at the helm of the GmbH. His position is fundamentally similar to that of the director of a Dutch private limited company (B.V.). Read More »
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VAT on common investment funds’ management fees not recoverable
August 9, 2013
The European Court of Justice (ECJ) recently ruled that VAT on investment management fees paid by the trustees of a UK defined benefit pension scheme is irrecoverable under a VAT exemption for Read More »
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by: Wedlake Bell
in Pension law, United Kingdom
Fund marketing in France
June 3, 2013
Investment funds cannot be “marketed” in France without prior authorisation. But exactly what does “marketing” mean? Recent decisions of the AMF’s Sanctions Commission provide some guidance. Read More »
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Changes to audit exemptions and accounting framework
May 29, 2013
On 6 September 2012 the Government published its response to the Department for Business Innovation and Skills’ consultation paper “Audit exemptions and change of accounting framework Read More »
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by: Wedlake Bell
in Corporate law, United Kingdom
New rules for women on the board of directors
March 29, 2013
As of 1 April 2013, new rules will apply regarding the composition of the boards of directors as well as managers, which aims at getting more women on the boards of directors and as part of the Read More »
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by: Lund Elmer Sandager
in Corporate law, Denmark
The new simplified procedure of corporate mergers and divestitures set forth in Legislative Decree no. 123/2012.
March 26, 2013
The Legislative Decree no. 123 dated June 22, 2012 (the “Decree”), implementing the European Directive 2009/109/EC dated September 16, 2009 Read More »
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SEBI introduces investment advisers regulations, 2013
February 27, 2013
Securities and Exchange Board of India (“SEBI”) has introduced the SEBI (Investment Advisers) Regulations, 2013 (“Regulations”) to regulate obligations for investment advisers Read More »
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by: Khaitan & Co
in Banking and finance, India
Spain: Limit of cash payments foreseen by article 7 of the law 7/2012 has entered into force
January 9, 2013
On October 31st, 2012, Law 7/2012 entered into effect, modifying the Spanish tax and budget legislation and adapting the financial regulation to boost the actions designed to prevent Read More »
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