ArticleSEC Expands "Test-the-Waters" Communications Accommodation To All IssuersOn September 26, 2019, the Securities and Exchange Commission (SEC) announced that it adopted Rule 163B under the Securities Act of 1933United StatesCorporate/Commercial LawO'Melveny & Myers LLP
ArticleUnited States Imposes Sanctions On Turkish Government Ministries And Cabinet OfficialsOn October 14, 2019, President Trump issued a broad executive order targeting the Government of Turkey in response to Turkey's military offensive in northeast SyriaUnited StatesInternational LawO'Melveny & Myers LLP
ArticleSecurities and Exchange Commission Updates Compliance And Disclosure Interpretations For Sections 13(d) And 13(g) Of The Exchange Act And Regulation 13D/13G Beneficial Ownership ReportingThe U.S. Securities and Exchange Commission (the “Commission”) recently released updated and consolidated compliance and disclosure interpretations relating to Sections 13(d) and 13(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Regulations 13D/13G beneficial ownership reporting.United StatesCorporate/Commercial LawO'Melveny & Myers LLP
ArticleRBI To Allow Take-Out of Rupee Loans with ECB for Infrastructure ProjectsOn July 22, 2010, the Reserve Bank of India (RBI) announced that it will put in place a scheme to allow eligible borrowers in the infrastructure sector to refinance Rupee loans from domestic Indian banks with external commercial borrowings (ECB) from foreign lenders via take-out financing arrangements. IndiaCorporate/Commercial LawO'Melveny & Myers LLP
ArticleNew Regulation Clarifies Rules on Related Party Mining Services CompaniesThe Indonesian Director General of Mineral, Coal and Geothermal ("Director General") issued Regulation No. 376.K ("Regulation 376.K"), which clarified the restrictions on the use of related party mining services companies under Law no. 4 of 2009 (the "2009 Mining Law"). IndonesiaEnergy and Natural ResourcesO'Melveny & Myers LLP
ArticleUpdate On Japan´s Debt Repayment MoratoriumA moratorium on debt repayments by individuals and small business owners has been advocated by Shizuka Kamei, Japan’s financial services minister, since he took office in mid-September. JapanFinance and BankingO'Melveny & Myers LLP
ArticleSecurities And Exchange Commission Votes To Amend The Custody RuleOn December 16, 2009, the Securities and Exchange Commission (the "SEC") voted unanimously to amend Rule 206(4)-2 (the "Custody Rule") under the Investment Advisers Act of 1940, as amended. United StatesStrategyO'Melveny & Myers LLP
Article"Proxy Access" Rules Stayed Pending LitigationToday, the Securities and Exchange Commission (the "Commission") issued an order staying the effectiveness of its recently-issued "proxy access" rules. United StatesFinance and BankingO'Melveny & Myers LLP
ArticleSupreme Court Leaves The Door Open For Expansive Biometric Privacy LawsuitsIn the meantime, companies collecting, using, and storing biometric information will face increased risk of BIPA lawsuits, which may be both complex and costly. United StatesPrivacyO'Melveny & Myers LLP
ArticlePRC State Council Issues New Rules Encouraging Foreign InvestmentChina’s State Council has just issued the Several Opinions on Further Improving the Work of Utilizing Foreign Investment, guofa [2010] No. 9, dated April 6, 2010, reaffirming its policy to encourage foreign investment. ChinaCorporate/Commercial LawO'Melveny & Myers LLP
ArticleShanghai Officially Releases Pilot RMB Private Equity Funds Implementation MeasuresKicking off 2011 with a new regulatory breakthrough for RMB funds, the Shanghai Municipal Financial Services Office released the long-awaited "Implementation Measures on Pilot Program of Foreign-invested Equity Investment Enterprises in Shanghai" (the "Pilot Measures"), officially dated December 30, 2010. ChinaStrategyO'Melveny & Myers LLP
ArticleNew Bank Indonesia Foreign Debt Reporting ObligationsOn December 29, 2010, Bank Indonesia issued and revised Regulations on Foreign Debt Reporting Obligations (the "New Regulation")1. With the New Regulation, Bank Indonesia aims to improve and simplify the foreign debt reporting obligations applicable to Indonesian borrowers.IndonesiaCorporate/Commercial LawO'Melveny & Myers LLP
ArticleNew Domestic Market Obligation (DMO) RegulationEffective 31 December 2009, the Ministry of Energy and Mineral Resources (the "Ministry") issued a new regulation (No. 34 of 2009) (the "Regulation") on prioritising mineral and coal resources for domestic usage. IndonesiaEnergy and Natural ResourcesO'Melveny & Myers LLP
ArticleThe Delaware Chancery Court Validates Surrender and Cancellation of CDO Notes as a Means to Improve Overcollateralization Ratio PerformanceOver the past year, several managers of collateralized debt obligation (or similar) vehicles (CDO issuers) have sought to avoid the failure of overcollateralization ratio (O/C ratio) tests that would have resulted in the diversion of cash flows to pay down the most senior debt tranches by causing the surrender of junior debt to the CDO issuer with the intent that it be forgiven. United StatesFinance and BankingO'Melveny & Myers LLP
ArticleSingapore as a Preferred Venue to Resolve Disputes in Asia?According to the results of the 2010 International Arbitration Survey conducted by Queen Mary, University of London ("2010 Survey"), Singapore was rated as highly as Paris as a preferred destination to resolve international disputes and ahead of traditional destinations such as New York based upon factors such as perceived neutrality and impartiality and track record for enforcing arbitration agreements and awards.SingaporeLitigation, Mediation & ArbitrationO'Melveny & Myers LLP
ArticleNew Suit Against Spyware-Maker Demonstrates One Company's Offensive Strategy Against Cyber AttacksOn October 29, 2019, Facebook Inc. (Facebook), owner of WhatsApp messaging service, filed a lawsuit against the Israel-based NSO Group (NSO), alleging that the spyware-maker unlawfully hacked...United StatesTechnologyO'Melveny & Myers LLP
ArticleForeign-Invested Partnership Rules Issued: Partnership Form Will Ease Foreign Investment In IndustriesThe door for foreign individuals and entities to invest directly in partnership enterprises in China officially opened with the issuance of the Administrative Measures for Foreign Enterprises and Individuals to Establish Partnership Enterprises in China (the "Measures") by the State Council on December 2, 2009. ChinaCorporate/Commercial LawO'Melveny & Myers LLP
ArticleImpact Of New Indonesian Tax Regulations: UpdateWe have had overwhelming response to our alert on the new Indonesian tax regulations last week available here. SPV issuers will be required to certify that they meet all the criteria in the Certificate of Domicile to be submitted to the Indonesian tax authorities.IndonesiaTaxO'Melveny & Myers LLP
ArticlePre-Arbitration Discovery Not Available in SingaporeIn the recently published decision of the Singapore High Court in "Equinox Offshore Accommodation Ltd v. Richshore Marine Supplies Pte Ltd" [2010] SGHC 122, the High Court held that it has no power to grant an order for the discovery of documents prior to the commencement of arbitration.SingaporeLitigation, Mediation & ArbitrationO'Melveny & Myers LLP
ArticleRecent Bankruptcy Court Decision Threatens Intellectual Property Rights of Licensees from Foreign OwnersA recent bankruptcy court decision from the Eastern District of Virginia suggests that U.S. licensees of U.S. intellectual property from a foreign owner may lose their rights in a foreign insolvency proceeding even though the U.S. Bankruptcy Code was long-ago amended to eliminate that result. United StatesInsolvency/Bankruptcy/Re-StructuringO'Melveny & Myers LLP