Financial Regulatory Forum

UK tax migration hits reverse under temporary exemption rules

By Guest Contributor
August 24, 2011

By Christopher Elias

LONDON, Aug. 24 (Business Law Currents) – The UK offshore migration hit reverse recently when London-listed Bermudan reinsurer Lancashire Holdings decided that UK tax changes had made going offshore unnecessary.

Two hats or one: revisiting the role of board chair in Canada

By Guest Contributor
August 23, 2011

By John Mackie

TORONTO, Aug. 23 (Business Law Currents) For institutions, regulators and investors, executives who wear two hats, such as CEO and chairman, are in an inherent conflict of interest. The situation is complicated further when roles are shared, such as in cases of co-chairs or co-CEOs.

SEC’s new whistleblower website – ‘winning’ Dodd-Frank style

By Guest Contributor
August 18, 2011

By John Sutton

Aug. 17  (Business Law Currents) – As the fabled story goes, almost a decade passed between the time that fraud investigator Harry Markopolos first submitted evidence of the Bernie Madoff Ponzi scheme to the SEC’s Boston office and his arrest in late 2008.

from The Great Debate:

Merkel and Sarkozy are right about a Tobin tax

By Mark Thoma
August 17, 2011

By Mark Thoma
All opinions expressed are his own.

The financial transactions tax is back in the news today. According to reports, French President Nicolas Sarkozy and German Chancellor Angela Merkel will propose a financial transactions tax in September.

New Canadian compensation rules make work for issuers in coming proxy season

By Guest Contributor
August 17, 2011

By John Mackie

Aug. 16  (Business Law Currents) With the recent announcement by the Canadian Securities Administrators (CSA) that changes in executive disclosure requirements will apply for financial years ending on or after October 31, Canadian issuers may want to do some advance planning in order to avoid last minute scrambling in the New Year.

Start-up rating agencies urge national regulators to promote competition, change

By Guest Contributor
August 15, 2011

By Rachel Wolcott

Aug. 15  (Thomson Reuters Accelus) –  Even as national governments cry foul over recent sovereign ratings downgrades, new rules and regulation aimed at rating agencies is making it harder for newcomers to break into the ratings market. Standard & Poor’s (S&P), Moody’s Investors Service and Fitch Ratings may have come under renewed fire because of the sovereign debt crisis, but rules set out in the United States’ 2006 Credit Rating Agency Reform Act and the Dodd-Frank Act have yet to open up the market as hoped.

Shorting bans: What the four European regulators are prohibiting (and what they’re not)

By Guest Contributor
August 15, 2011

By Peter Elstob

LONDON, Aug. 15 (Thomson Reuters Accelus) – The bans on short-selling the shares in a number of banks and insurance companies (and one stock exchange) that four member states imposed on Friday did not bring the single European rulebook any closer.

Chinese reverse-merger firms delisted in U.S. may go private, lawyers say

By Guest Contributor
August 5, 2011

By Patricia Lee

SINGAPORE, Aug. 5 (Thomson Reuters Accelus) - Chinese reverse merger companies recently suspended or delisted from U.S. stock exchanges for various breaches may find it more viable to go private than to re-list in the U.S. or elsewhere,  lawyers said. The protracted investigations by U.S. regulators and the potential costs involved in settling the lawsuits mean that, for some companies, selling their entities would be a better strategy.

Recent corporate disclosures reflect unease over U.S. debt ceiling impasse

By Guest Contributor
July 29, 2011

By Thomson Reuters Accelus – Staff

NEW YORK, July 29 (Business Law Currents) The U.S. debt ceiling debate may be a lot of noise to some of  the public, but for companies and investment funds, the governmental standoff has real consequences. The ripple effect through the markets should the government of the United States default on its obligations can’t be fully appreciated. The inevitable credit ratings hit will drive up the already high cost of borrowing for taxpayers. For many companies, who are starting to discuss the debt-ceiling debate in their regulatory filings, it is not only credit markets that will be affected. Independent government contractors may also get stiffed, not to mention lose future business. (more…)

Canada’s Anti-Bribery Cops Reel One In

By Guest Contributor
July 22, 2011

By John Mackie

TORONTO, July 22 (Business Law Currents) – Though Canada has had foreign bribery legislation in effect for over a decade, prosecutions have proven very few and very far between. So it remains to be seen whether the recent guilty plea by Calgary’s Niko Resources under Canada’s Corruption of Foreign Public Officials Act marks a scaling-up of Canadian efforts on this front, or just another blip on the radar screen.