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Legal market overview
Traditionally linked to global and particularly US economic cycles, El Salvador’s economy has slowly regained strength after the global financial crisis. However, in the run-up to the May 2014 presidential elections, political uncertainty has once again reduced investment activity and slowed trade flow. On the positive side, the thriving energy sector is creating new work and has contributed to keeping the legal market active.
With numerous office openings, mergers and lateral hires in 2013 and early 2014, El Salvador´s legal landscape is slowly but steadily shifting. While regional powerhouse Consortium – Centro América Abogados strengthened its corporate practice by merging with small (but well-regarded), local firm Benjamín Valdez & Asociados in February 2014, thereby increasing competition with prestigious market leader Arias & Muñoz in particular, it nevertheless endured a setback with the departure of leading litigator Ricardo Cevallos in February 2014. Cevallos subsequently opened BLP’s new Salvadoran branch in June 2014.
Given the success of the regional networks established by Arias & Muñoz and Consortium – Centro América Abogados, progressive regionalisation appears to have become a trend that few firms can –or are prepared– to withstand. In May 2014, for example, Guandique Segovia Quintanilla established the regional network LatAm Lex in conjunction with other independent law firms in Costa Rica, Honduras, Guatemala, Nicaragua, Colombia and Panama, introducing a new competitive force to the region. In other developments, Sáenz & Asociados expanded its regional outreach by opening a new office in Guatemala; and Pacheco Coto made its market debut in El Salvador by absorbing ACZALAW, Abogados Centroamericanos Asociados as part of its regional network. Further market movement saw Romero Pineda & Asociados, Compañía de Abogados welcome six lawyers from Lexincorp, which despite these departures remains a solid player in the domestic market.
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On May 5 the Luxembourg Financial Supervisory Authority issued CSSF Circular 15/612, addressed to all managers of alternative funds subject to the 2013 legislation implementing the Alternative Investment Fund Managers Directive, regarding reporting on unregulated alternative funds, whether established in Luxembourg, another EU member state or in a non-EU jurisdiction, as well as alternative funds regulated outside the EU.
REMINDER ON THE REGULATORY FRAMEWORK ON PAYMENT INSTITUTIONS AND ELECTRONIC MONEY INSTITUTIONS
The three vacancies of the Turkish Competition Board ("Board"), the competent decision-making organ of the Turkish Competition Authority, which have been vacant for almost three months, have now been filled.
E-tailers are more often than not unwilling to maintain resale price according to what the manufacturer expects. So much so that, along with the ease of ‘cash on delivery’, consumers in India have now come to expect lower prices for products they buy online.
In its new "Administrative instructions 2015/2", the NSSO has now set the maximum indemnity for home office expenses at 119,61 EUR per month.
On September 30, 2014, the Korea Fair Trade Commission (the “KFTC”) announced plans to amend regulations regarding the subcontracting, franchise and distribution sectors. In particular, the KFTC identified 12 action items that address the propriety and need for certain rules, and aim to mitigate burdens on industry. The KFTC plans to submit the relevant bills to the National Assembly and finalize the amended Enforcement Decrees by the end of 2014, and to update the subordinate regulations by the first quarter of 2015.
Whilst Malta’s history, sun and sea might be a good reason for tourists to come to the island, they are surely complementary but not the sole reasons to attract prospective e- commerce and gaming operators to Malta. Indeed, to the gaming and e- commerce world, Malta represents more than that.
Austria recently experienced a significant boom in start-ups(1) and has produced some major international players (eg, Runtastic, bwin, last.fm and Whatchado). That said, starting a business in Austria requires an understanding of the peculiarities of the legal system. This update discusses some of the common legal risks and issues that come along with starting a business in Austria. read more...
26 May 2015: The Drew & Napier Competition & Regulatory Practice Group brings you this special article as part of its latest Competition Law Quarterly Update for the first quarter of 2015.
Das Magazin FOCUS hat in seiner aktuellen Spezialausgabe wieder eine Liste der führenden Steuerkanzleien in Deutschland veröffentlicht. GSK Stockmann + Kollegen wurde dabei erneut im Bereich „Umwandlung, Umstrukturierung und M&A“ als Top-Steuerkanzlei ausgezeichnet und erhielt das damit verbundene FOCUS-Siegel „Top-Steuerkanzlei 2015“.
The VEGAS LEX law firm and the Union of Industrialists and Entrepreneurs (RSPP) have discussed the current problems and development prospects of public procurement regulation in a roundtable conference also attended by the Federal Antimonopoly Service.
Dr. Jürgen Heyer, President of the German Federation of Housing, Urban Development and Regional Planning and former Minister of Building and Transport in Saxony-Anhalt joins the Berlin office of GSK STOCKMANN + KOLLEGEN as Of Counsel effective 1 May 2015. GSK thus continues focusing on the public sector and growth of their Berlin office.
Singapore Managing Partner Shortlisted for Prestigious Financial Times Innovative Lawyer of the YearMorgan Lewis Stamford among Most Innovative Asia-Pacific Law Firms According to Annual FT Report
Monday, March 16, 2015
Kim & Chang has been recognized as one of the world’s top 150 law firms in the Who’s Who Legal 100 (2014 edition, 3rd edition), published by Who’s Who Legal that is an international publication affiliated with London-based publishing group, Law Business Research. Kim & Chang has been the only law firm in Korea to be included in the list for three consecutive years.
Kim & Chang has been named in ‘Global 100,’ a special feature of The American Lawyer Magazine (ALM), a renowned US-based legal magazine. Our firm was ranked amongst Top 100 firms in ‘Most Lawyers (List of the number of lawyers)’ chart, in ‘Most Global (List of the number of countries in the firm has offices)’ chart, as well as in ‘Pro Bono Commitment’ chart. Kim & Chang is the only Korean firm to be listed inthese charts.
Kim & Chang was recognized as one of the top 10 leading law firms in the world for its pro bono services according to Who’s Who Legal Pro Bono Survey 2014 for two consecutive years. Kim & Chang is the only Asian firm to be listed. Who’s Who Legal, an international legal media, conducts global surveys on law firms’ pro bono services since 2013.
Kim & Chang was recognized in the Legal 500 Asia Pacific (2015 edition), a leading global law firm directory published by Legalease, UK legal media, as a band 1 law firm for all 14 practice areas surveyed as below.