The Airocean case: materiality matters when it comes to director’s duties
July 8, 2013
In a landmark decision handed down by the Singapore High Court, an independent director’s conviction for market misconduct was overturned. As a result of this case, company directors are no longer in the dark about their disclosure obligations and duties under the Securities and Futures Act. Melissa Russell and Victoria Macgregor of Clyde & Co LLP Singapore (with assistance from Clasis LLC) shed light on the requisite thresholds that need to be crossed in order to impute liability upon independent directors.
Out with the old, in with the new: the Csrc’s drive to boost foreign investment funds in China
July 8, 2013
David Livdahl, Jenny Sheng and Chunbin Xu of Paul Hastings take us through the old requirements imposed on qualified foreign institutional investors (QFII’s) and enlighten us as to how the new measures will have the effect of relaxing protocols for foreign investors.
Changes to Hong Kong’s Data Protection law: what they mean for you
July 8, 2013
Slated to take effect in October of this year, the new Personal Data (Privacy) (Amendment) Ordinance has been introduced with a view to invigorating and reinforcing the data privacy landscape in Hong Kong. The new amendments will home in on the use and transfer of personal data for direct marketing purposes. Anna Gamvros and Aaron Bleasdale of Baker & McKenzie examine the importance of these changes and the penalties for non-compliance.
Financial dispute resolution in Hong Kong: ‘FDR’ – nothing to fear?
July 8, 2013
David Smyth and David Luk of Smyth & Co (in association with Reynolds Porter Chamberlain LLP), review Hong Kong’s new Financial Dispute Resolution Scheme and highlight some pertinent issues that may arise for prospective claimants, financial institutions and their in-house lawyers.
Representing Corporate Asia & Middle East Survey 2012
July 8, 2013
Canvassing the views and concerns of in-house counsel along the New Silk Road, the sixth annual Representing Corporate Asia & Middle East Survey report shines a light on the issues that are of concern to in-house counsel across the region today, their expectations for the coming year and the factors which they say tip the scales when selecting external counsel. And, based entirely on votes from participating in-house counsel, we also announce our ASIAN-MENA COUNSEL In-House Community Firms of the Year for 2012.
Making a case for centralising the in-house legal function
July 8, 2013
According to Sascha Hindmarch, former general counsel at the University of South Australia, centralised systems represent the intelligent choice for the legal function. In a post-Enron, post-Fannie Mae world, a centralised system is more accountable, transparent and safe. Here, she makes a compelling case for backing the model having regard to the changing nature of in-house counsels’ role.
Total Recall? The milk scandal and food liability insurance in China
July 8, 2013
Carrie Yang and Amanda Li of Clyde & Co contemplate how the insurance market will change in China once the government implements strict liability for food safety.
Investigative Intelligence
July 8, 2013
How are banks in the Gulf dealing with large-scale financial defaults? By Yaser Dajani, Associate Managing Director, Kroll Advisory Solutions
Anti-Trust & Competition Special Report
July 8, 2013
In this issue, we bring you a comprehensive overview on anti-trust and competition law authored by Ian Forrester QC, whilst Perdana Saputro of Melli Darsa highlights the strengths and weaknesses of Indonesia’s competition regime. Chew Phye Keat of Raja Darryl & Loh contemplates the effectiveness of the Malaysian Competition Act 2012 and Dr. Tuan of LCT Lawyers gives us a fascinating look through the key-hole into the regulatory world of Vietnam’s anti-trust framework. ASIAN-MENA COUNSEL also speaks to Vivian Mak, Director and Head of Litigation, APAC, The Royal Bank of Scotland and through her eyes we see the changing tapestry of a litigator’s role at the Bank, in our In-House Insight feature.
CIETAC: Uncovering the differences between the Beijing and the Shanghai Rules
July 8, 2013
In our last issue, (Volume 10 Issue 3) we brought you an overview of the key changes to the CIETAC Rules 2012 in “Moving the CIETAC goal posts…for the better.” Here, Harry Liu and Yue Qiu of King & Wood Mallesons guide us through the major differences between the CIETAC Beijing Rules and the CIETAC Shanghai Rules, enlightening us as to how these distinctions have a bearing on choice of venue for the parties involved.
Changes on the horizon for the RMB?
July 8, 2013
Recent efforts to encourage foreign direct investment in Renminbi (RMB) represent one of several systematic steps taken by the Chinese government in its long march towards full convertibility and internationalisation of the RMB. But just how broad is the ability of foreign investors to use RMB to undertake direct investment in China? Zheng Yu of Gide Loyrette Nouel canvasses recent regulatory developments and examines the sectors where restrictions on foreign investment in RMB may apply.
A cure-all provided by the Decurion?
July 8, 2013
Anthony Woo and Jenny Zhuang of Kennedys share with us their insights following a momentous judgment in the shipping arena in Hong Kong. For the first time, the meaning of ’control’ in the context of a ship arrest was contemplated by the Hong Kong Courts – paving the way for some much needed clarity for ship owners.
Labour & Employment Update
July 8, 2013
Our cover story takes you through the merits and loopholes of employment legislation in various jurisdictions across the Asia and MENA regions. In addition, Bae Kim & Lee navigate the Korean employment maze and home in on dismissal issues whilst Al Tamimi provide us with an absorbing update on the state of play of employment in the UAE. We are also excited to showcase the results from our External Counsel of the Year survey – where in-house counsel were asked to weigh in on who they believed to be exceptional external counsel in their own jurisdictions. We bring you the results and more here.
External Counsel of the Year – Shining examples
July 8, 2013
The relationship forged between in-house counsel and their external counterparts is a strong one, and in many cases can determine the volume of work directed their way. From our Representing Corporate Asia & Middle East Survey 2011, we have mined in-house counsel’s votes to reveal the winners of ASIAN-MENA COUNSEL’S External Counsel of the Year accolade.
A time to reap and a time to sow – the benefits of establishing an external counsel panel
July 8, 2013
Increasingly for in-house counsel, the intelligent appointment of an external panel of select legal advisers can significantly reduce the time and money spent on effectively managing risk. It follows then that developing close working relationships with external counsel can go a long way towards explaining value and justifying costs to senior management. External lawyers assist by providing a full suite of legal services, commercially savvy advice and specialist support and know-how. Evangelos Apostolou, Deputy General Counsel of Asia Pacific, Ernst & Young highlights the benefits of establishing an external counsel panel in an age where the role of in-house lawyers is continually evolving.