On 21 October 2019, JPN GVT advised re amendment bill concerning FDI. Advised that the Cabinet approved the Amendment Bill of the Foreign Exchange and Foreign Trade Act on 18 October 2019, in relation to foreign direct investment (FDI). Follows JPN METI September 2019 announcement re legal categories revision. Overview Under current rules, investment in…
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U.S. – House SEC Disclosure Assessment Bill
On 17 October 2019, House bill on SEC disclosure effectiveness assessment. HR 1815 to require SEC test any new disclosure intended for retail investors under the SEC’s proposed regulation best interest to help better protect retail investors. Disclosure Assessment To require testing of all regulations that may affect retail investor disclosures that are relevant for…
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UKP Brexit Delay Amendment
On 19 October 2019 UKP voted to withhold approval of Boris Johnson's deal. Follows EC October 2019 statement on recommendation to the Council. UK PM Deal Defeat UKP voted to amend UK GVT's motion on Boris Johnson's Brexit deal to withhold parliamentary consent until the withdrawal legislation had completed its passage. Amendment was designed to…
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China – GVT Lifts Foreign Bank Holdings
On 16 October 2019, CHI GVT issued policies to reduce burden on businesses. Introduced policies to reduce fees and taxes locally, and open up to the outside world. Fee Reduction In earlier 8 months, fees and tax reduction has helped reduce burden on businesses. Planning to strengthen fiscal budget management among local government bodies, and…
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U.S. – SEC Dual-Class Shares & Governance
On 15 October 2019, SEC spoke on problem of dual-class shares, and solutions. Speech by SEC's Rick Fleming, titled dual-class shares: a recipe for disaster. Dual Class Shares Justification Particular technology companies have founders so visionary and charismatic that the companies could not be as successful without them, and they need to steer the ship.…
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Serbia – SEC New Investment Fund Laws
On 11 October 2019, SER SEC said new laws adopted on investment funds. On 10 October 2019, Serbian Parliament adopted financial law package including open investment funds with public offering act and the alternative investment funds act. By their adoption, mutual fund regulation, in accordance with EU regs, is in two laws. Aim is to…
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