Knowledge and news

Wholly foreign-owned life insurance companies allowed from 2020

Mon, 16 Dec 2019 17:00:00 Z

On December 6 2019, the China Banking and Insurance Regulatory Commission (CBIRC) officially announced that the foreign ownership restriction on life insurance companies will be fully lifted with effect from 1 January 2020 (the Announcement).

Norton Rose Fulbright advises Genser Energy Ghana on major strategic investment

Fri, 13 Dec 2019 15:59:57 Z

Genser Energy is an independent power producer that provides cutting edge energy solutions to industrial, mining & mini grids in West and Central Africa. Genser Energy’s vision is to become the leading energy solutions provider in Africa.

SEC Update

Thu, 12 Dec 2019 18:00:00 Z

In October 2019, the Financial Industry Regulatory Authority (FINRA) released its 2019 Report on Examination Findings and Observations (2019 Report).

EU Green Deal

Thu, 12 Dec 2019 12:30:29 Z

A key theme coming out of the side events taking place at COP25 is that private sector involvement is critical in the transition to net zero emissions by 2050.

Global asset management quarterly: A global briefing on developments and market trends

Thu, 12 Dec 2019 11:23:00 Z

Welcome to the thirteenth edition of Global asset management quarterly.

Navigating the AIFMD

Thu, 12 Dec 2019 01:00:00 Z

Asset managers need to be familiar with the latest regulatory developments, but with the recent European Commission and
ESMA initiatives, navigating the various changes surrounding the AIFMD can be a complex task.

Pathways to net-zero 2050

Wed, 11 Dec 2019 21:56:20 Z

If COP25, 2019 were to be summarized in a word, it would be ‘pathways’ – shorthand for the social, economic and technological choices that must be made in the near term in order to avoid catastrophic climate change.

COP25 archive

Wed, 11 Dec 2019 13:42:47 Z

The 25th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), COP25 will take place at IFEMA - Feria de Madrid in Madrid, Spain from 2 to 13 December.

Luxembourg update

Tue, 10 Dec 2019 20:45:47 Z

As at October 31, 2019, the total net assets of collective investment undertakings (UCIs), including UCIs subject to the Law of December 17, 2010 relating to undertakings for collective investment, specialised investment funds and SICARs...

Contracting for indices

Tue, 10 Dec 2019 18:52:32 Z

Indices play a crucial role in asset management, most clearly in passive investment, but also for measuring the performance of active funds and informing investment strategy.

EU progresses on its Sustainable Finance Action Plan

Tue, 10 Dec 2019 18:28:44 Z

The March 2018 EU Sustainable Finance Action Plan (Action Plan) considers the financing of climate transition to be one of the key areas of action to reach the goals set in the 2015 Paris Climate Agreement.

UK and European overview

Tue, 10 Dec 2019 16:19:50 Z

Whether the general election set for 12 December will bring an end to the political rollercoaster that is Brexit remains to be seen.

EU/UK Regulatory roundup

Tue, 10 Dec 2019 16:19:50 Z

Cross border distribution of investment funds – legislation published in the OJ

The proposed new regime for foreign financial services providers dealing with Australian wholesale clients

Tue, 10 Dec 2019 16:19:50 Z

In July 2019, the Australian Securities and Investments Commission (ASIC) released its updated proposals for the licensing relief available to foreign financial services providers (FFSPs) servicing wholesale clients in Australia, with the release of Consultation Paper 315 (CP 315).

Ireland update

Tue, 10 Dec 2019 16:19:50 Z

In September, the Central Bank of Ireland published CP130; a consultation paper which outlines its proposed framework for dealing with errors in investment funds.

Pension funds and asset managers call for radical change at COP25

Tue, 10 Dec 2019 15:15:19 Z

Some of the world’s largest pension funds and asset managers are drawing up plans for mandatory corporate reporting of climate issues and carbon pricing, among other actions, as outlined on day 8 of COP25 in Madrid.

Implementing a new robust market for climate mitigation outcomes: Are we getting closer?

Mon, 09 Dec 2019 21:00:00 Z

Jargon at international climate talks often acts as a barrier to quick understanding of the nature and status of key issues – Article 6, ITMOs, ‘corresponding adjustments’ and (my personal favourite) A6,4ERs are just a few of the phrases used.

China Foreign Investment: Expert Q&A Series – Civil Aviation industry

Thu, 05 Dec 2019 21:00:00 Z

In our China Foreign Investment Expert Q&A series, we will update you on recent developments in China’s foreign investment laws. The spotlight for this update is on the civil aviation industry.

Global benchmark reform: the transition to risk free rates

Thu, 05 Dec 2019 17:00:00 Z

As we move to the next stage of IBOR transition, banks are in in a further state of readiness.

China published draft regulations for the implementation of the Foreign Investment Law for public consultation

Mon, 02 Dec 2019 17:00:00 Z

On November 1, 2019, the Ministry of Justice of the People's Republic of China (PRC) released the draft Regulations on the Implementation of the Foreign Investment Law (Draft Implementation Regulations) for public consultation.

Norton Rose Fulbright launches MicroCertificate in Disruptive Technologies

Fri, 29 Nov 2019 11:54:00 Z

Norton Rose Fulbright has launched its MicroCert in Disruptive Technologies at its annual Tech Business & Law Conference in Silicon Valley.

Shipping – service of notice of arbitration

Wed, 27 Nov 2019 10:24:00 Z

Marie Kelly, a Partner in our London office, and Zayba Drabu, a Senior Associate in our London office, discuss common difficulties with service of notice of arbitration in shipping disputes and the steps claimants can take to ensure valid service

Smart Contracts

Fri, 22 Nov 2019 13:18:00 Z

The technology that makes smart contracts possible3 was developed with a view to enabling transactions to be made end-to-end without the intervention of third parties, intermediaries, adjudicators or courts.

COP25: Building ambition ahead of 2020

Wed, 20 Nov 2019 09:05:00 Z

Our aim is to help our clients understand the potential opportunities and challenges that COP25 may have on their business.

International focus

Fri, 15 Nov 2019 12:43:00 Z

The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 passed Parliament last week and received royal assent shortly after.

Case notes: Insurance Premium Tax on cross-border M&A insurance: ECJ decision on location of risk

Fri, 15 Nov 2019 12:42:00 Z

The Court of Justice of the European Union (CJEU) has delivered its decision in A Ltd, a case concerning the location of insured risk, and therefore which jurisdiction can charge IPT, on cross-border M&A insurance policies.

Case notes: Section 54 cannot cure what you didn’t know or didn’t exist

Fri, 15 Nov 2019 12:41:00 Z

The recent NSW Supreme Court decision in DIF III – Global Co-Investment Fund LP v Babcock & Brown International Pty Limited ruled that section 54 the Insurance Contracts Act 1984 (Cth) (ICA) did not cure a lack of notification of circumstances if those circumstances were not known during the policy period.

Case notes: Landmark ruling on mesothelioma claims in UK Court of Appeal

Fri, 15 Nov 2019 12:40:00 Z

The Court of Appeal in the United Kingdom has handed down judgment in the case of Equitas Insurance Limited v Municipal Mutual Insurance Limited - the first reinsurance case before the courts to consider the presentation of reinsurance claims arising out of mesothelioma liabilities in the context of the Fairchild enclave.

Case notes: Part VII judgment puts life-transfers in the spotlight

Fri, 15 Nov 2019 12:37:00 Z

The usually predictable world of portfolio transfers received a jolt on 16 August when Mr Justice Snowden declined to exercise his discretion to sanction the proposed insurance business transfer of a £12.9 billion book of in-payment annuities from The Prudential Assurance Company Limited (Prudential) to Rothesay Life Limited (Rothesay).

Case notes: Scottish Court decides first Insurance Act 2015 case

Fri, 15 Nov 2019 12:35:00 Z

Young v Royal and Sun Alliance plc [2019] CSOH 32 is the first judgement to consider the duty of fair presentation under the Insurance Act 2015 (the 2015 Act).

China Foreign Investment: Expert Q&A series – Seed industry

Tue, 12 Nov 2019 09:21:00 Z

Agriculture has traditionally been restricted for foreign investors in China.

Norton Rose Fulbright partners with ASIFMA on industry white paper on tokenised securities

Wed, 06 Nov 2019 14:00:00 Z

Global law firm Norton Rose Fulbright has partnered with the Asia Securities Industry & Financial Markets Association (ASIFMA) on its new industry white paper titled, “Tokenised Securities – A Roadmap for Market Participants and Regulators.”

Cyber risk and project contracts

Fri, 01 Nov 2019 21:00:00 Z

In the context of increasing digitization, highly publicized cyber incidents and a growing awareness that many projects can offer a range of potential access points through which to launch such an attack, cyber risk in projects has been rising up on the boardroom agenda.

Africa competition hub

Wed, 30 Oct 2019 11:52:00 Z

Local and international businesses operating in Africa need to understand the fast-changing landscape of African competition law.

Insurathon 2019: Supporting innovation in the insurance sector

Wed, 30 Oct 2019 11:08:00 Z

Insurathon is a Norton Rose Fulbright event which supports technological advancements and businesses in the insurance sector.

Norton Rose Fulbright adds internationally experienced corporate partner in Tokyo

Thu, 24 Oct 2019 08:54:00 Z

Global law firm Norton Rose Fulbright today announced that Isamu “Sam” Inohara, a corporate, M&A and securities lawyer with significant international experience, has joined its Tokyo office as a partner.

China banking law: Revised regulations on foreign invested banks

Wed, 23 Oct 2019 13:38:38 Z

After almost a year since the draft revised Regulations on the Administration of Foreign Invested Bank (the Regulations) were published for public comment, the formal Regulations were promulgated on October 15, 2019.

International Restructuring Newswire

Tue, 22 Oct 2019 14:04:00 Z

This issue features articles from four different countries of the Norton Rose Fulbright network.

The brewing controversy in Australia surrounding the application of the s 553C set-off defence to unfair preference claims

Tue, 22 Oct 2019 14:02:00 Z

Among the exceptions to the pari passu rule in Australia is insolvency set-off, as provided for under s 553C of the Corporations Act 2001 (Cth).

Ontario appellate court sets some limits on selling free and clear of encumbrances in Canada: Third Eye Capital Corporation v. Dianor Resources Inc.

Tue, 22 Oct 2019 14:01:00 Z

Insolvency proceedings are often used by debtors to sell assets, or entire going concern businesses, “free and clear” of encumbrances in an efficient and expedited manner to maximize recoveries for both secured and unsecured creditors.

Keeping up with the Joneses: In bold cross-border move, the DIFC enacts new insolvency law

Tue, 22 Oct 2019 13:58:00 Z

The DIFC has recently announced the enactment of the new DIFC Insolvency Law, Law No. 1 of 2019, which became effective in June 2019.

And, more keeping up with the Joneses: The new EU restructuring directive and reforms in the United Kingdom

Tue, 22 Oct 2019 13:55:00 Z

The European Parliament and the Council published in the Official Journal of the European Union the text of Directive 2019/1023 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132.

China Foreign Investment: Expert Q&A series – Asset management sector

Tue, 22 Oct 2019 10:00:00 Z

CSRC also formally announced its plan on October 11, 2019 to fully remove the foreign ownership restrictions in Chinese futures companies, fund management companies and securities companies respectively by January 1, 2020, April 1, 2020, and December 1, 2020.

Managing IMO 2020 Compliance: The Importance of Engagement Between Bunker Suppliers and Consumers

Wed, 16 Oct 2019 07:11:00 Z

IMO 2020 is almost upon us. Readers are well aware of the impending switch to 0.5 percent fuel mandated by Annex VI of MARPOL which will cause an anticipated drop in HSFO demand, the potential hazards of new untested LSFO blends, the concerns around scrubber operations, the debate over open loop versus closed loop, and the myriad of other risks associated with the impending regulatory change.

Focus on energy storage

Fri, 11 Oct 2019 16:00:00 Z

The energy storage industry isn't a completely new industry and there have been short lived booms before.

Cultivate: Food and agribusiness newsletter

Fri, 11 Oct 2019 11:33:00 Z

Welcome to the 19th Issue of Norton Rose Fulbright’s flagship journal for the food & agribusiness sector, Cultivate. In this edition, we focus on the most critical issue facing our times, climate change as well as taking a brief look at recent developments in trade agreements.

Norton Rose Fulbright wins four 2019 LatinFinance Project & Infrastructure Finance Awards

Thu, 10 Oct 2019 14:32:00 Z

Norton Rose Fulbright recently took home four major project and financing awards at LatinFinance’s Sixth Annual Latin America Project and Infrastructure Finance event.

Brexit: What next?

Thu, 03 Oct 2019 09:24:00 Z

Businesses face risks and opportunities during the Brexit negotiations between the UK and the European Union, with some sectors more affected than others.

Norton Rose Fulbright launches MicroCertificate in Disruptive Technologies

Wed, 02 Oct 2019 15:06:52 Z

Norton Rose Fulbright has launched a MicroCert in Disruptive Technologies at its annual Tech Business & Law Conference in Silicon Valley.

Mining law insights archive

Tue, 01 Oct 2019 13:45:00 Z

Archive for mining law insights.