Press releases and law firm thought leadership
This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.
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Legal Developments Worldwide
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This update discusses the Copyright (Amendment) Bill 2014 ("Bill"), which was passed by Parliament on 8 July 2014.
On 18 July 2014, the Austrian energy regulatory authority E-Control released its affirmative decision in relation to the certification of Trans Austria Gasleitung GmbH ("TAG") as a transmission system operator ("TSO") for gas. In its decision, E-Control not only requires TAG to be comprehensively restructured, but also takes a stance on the European Commission's ("EC") opinion on the potential non-compliance of the Austrian Natural Gas Act 2011 (Gaswirtschaftsgesetz "GWG") with EU unbundling rules. read more...
This update discusses a consultation paper published by the Monetary Authority of Singapore on proposals to enhance its regulatory framework for safeguarding investors' interests. The proposals are in the following three key areas: (a) extending to investors in non-conventional investment products the current regulatory safeguards available to investors in capital markets; (b) requiring investment products to be rated for complexity and risks, and for these ratings to be disclosed to investors; and (c) refining the non-retail investor classes including providing accredited investors the option to benefit from the full range of capital markets regulatory safeguards that are applicable for retail investors.
To read the update, please click here.
New Regulation for the Turkish Banking Industry: Towards a Healthy Synthesis Between the Banks and t
Turkish banking industry is considered one of the strongest in Europe. The crisis ridden global banking industry had experienced numerous difficulties following the 2008 market collapse, but Turkish banking industry had survived the crisis with relatively insignificant scars.
The effect of climate change is not only an environmental problem today as it directly relates to the resource based industries. In today's world, the scientific assessments lead the players of energy to reflect on their project viability. In direct proportion to the growth in financing renewable projects, insurance companies and underwriters are also expected to formulate their risk assessments on resource-oriented allocation models. Since especially the incontestable growth of ancillary instruments in Europe and the Japan the warranties in financing the "energy as the capital and the resource itself" yields new insurance coverage.
The National Bank of Ukraine (NBU) introduced the compulsory exchange of 100% of foreign currency proceeds. read more...
In this edition's feature article "CCS airline industry market study", we discuss CCS findings from an airline industry market study which CCS commissioned to examine whether certain joint ventures between airlines operating through Singapore have actually resulted in net economic benefits.
To read the above article, please click on the link below
The Korean Government has launched a government project to establish a system to compensate and insure against environmental pollution damage, and is pursuing the introduction of a legal relief system for environmental pollution damage. Such Government initiative is intended to address the current situation where environmental pollution accidents inflict serious damage on society due to the enormous amount of tax money that is required for curing the pollution, while companies that caused the accident sometimes go bankrupt because they cannot bear the financial burden of paying the compensation. Moreover, the victims of environmental pollution accidents are often unable to obtain proper compensation due to the burden of proving that their injury resulted from the pollution or due to the prolonged litigation process which is unavoidable in light of the nature of environmental pollution.
On March 12, 2014, the Commissioners of the Korea Fair Trade Commission ("KFTC") approved a consent decree with Korea's major Internet portal companies, Naver and Naver Business Platform (collectively "Naver") and Daum Communications ("Daum"). This was the first time since its introduction that a consent decree was used to conclude a case before the KFTC. With this consent decree, the KFTC's investigation of Naver and Daum for their alleged abuse of market dominance ended without any finding of liability.
Recent regulatory developments in the ever-changing broadcasting environment are summarized below.