Explaining what Foreign & Colonial is, what it stands for and its relevance for today’s investor.Read more >
Jeremy Tigue, Manager, Foreign & ColonialRead more >
The Federal Reserve recently issued proposed rules under §§ 165 and 166 of the Dodd- Frank Act that would establish enhanced prudential standards for certain foreign banking organization’s branches in the United States. The proposed rules will likely require fundamental changes in the way that many foreign banks do business in the U.S., including new requirements that many foreign banks structure their U.S. operations through U.S. intermediate holding companies and meet enhanced capital and liquidity standards, detailed corporate governance, risk management mandates, and single counterparty credit limits.
Please join Alma Angotti, Jay Perlman, and Jim Vint of Navigant and Jeremy Newell of law firm WilmerHale as they address these issues and your questions in a free, one-hour webcast.
Jeremy Tigue, Manager, Foreign & ColonialRead more >
Foreign Bank Accounting Reporting
Foreign banks are increasingly seeking to diversify their financing opportunities. With careful planning they can access US investors without subjecting themselves to the securities registration requirements applicable to public offerings, or the ongoing disclosure and governance requirements applicable to US reporting companies. Foreign banks may also consider registering with the SEC. During this webinar, the panellists will discuss:
• Issuances exempt from registration under Rule 144A
• Setting up a Rule 144A or bank note programme for straight debt
• Issuances that rely on registration exemptions provided by the Securities Act Section 3(a)(2) for securities offered or guaranteed by banks
• Registering in the US
- Anna Pinedo, Morrison & Foerster
- Ze'ev Eiger, Morrison & Foerster
- Jack McSpadden, Citigroup Global Markets Inc
- Laura Drumm, Citigroup Global Markets Inc
- Danielle Myles, IFLR
If the Foreign Account Tax Compliance Act (FATCA) is not already part of your vocabulary, it soon will be. It has an impact on many key client processes, thus affecting us in several ways.
It has already made headlines in the media, so chances are this is not the first time you are hearing about FATCA.
FATCA is legislation that was passed in the US in March 2010. Its key objective is to prevent 'US persons' (individuals and entities) from using foreign (non-US) financial institutions to avoid US taxation on their income and assets.
John Crager, Head of Global Tax Services at HSBC Securities Services (HSS), hosted a webinar explaining what FATCA is, how HSS is preparing for FATCA and highlighting what our clients should be doing to prepare for FATCA compliance.
This webinar will cover the details of assessing and managing risks of changing currencies.
Some of the major topics covered in this webinar will include:
•Why Exchange Rates Change?
•Changing Exchange Rates, Trade, and Investment
•Corporate Impact of Exchanges Rate Changes
•Determining Transactions, Translation, and Economic Exposures
•Financial Hedging of Net Exchange Rate Risks
•Operational Hedging of Net Exchange Rate Risks
•Audit Considerations in Exchange Rate Risk Management
U.S. immigration law allows foreigners with needed skills and talents to work in the United States on a permanent or temporary basis. The procedure to follow to get those needed foreign workers here, though, is complex. To avoid having their work delayed because of denied visas, employers should educate themselves on how to get those foreign workers to the U.S. as efficiently and effectively as possible in advance of their efforts. The webinar would provide them with the education they need to understand the process and procedures.Read more >
Foreign banks are increasingly looking to diversify their financing options. With careful planning, they can access US investors without subjecting themselves to the securities registration requirements applicable to public offerings, or the ongoing disclosure and governance requirements applicable to US reporting companies.
Speakers on this webinar will explain how non-US banks can pursue these funding avenues.
- Issuances exempt from registration under rule 144A;
- Issuances that rely on registration exceptions provided by Securities Act section 3(a)(2) for securities offered or guaranteed by banks;
- Setting up a rule 144A or bank note programme for straight debt;
- Issuing covered bonds in reliance on rule 144A or Section 3(a)(2);
- Yankee CD programmes; and
- Banking and securities regulatory requirements to consider before setting up an issuance programme.
- Brad Berman, Morrison & Foerster
- Jerry Marlatt, Morrison & Foerster
- Jack McSpadden, Citigroup
- Laura Drumm, Citigroup
- Danielle Myles, IFLR (moderator)
California and New York CLE credit will be offered for this webinar
Jeremy Tigue, Fund Manager of F&C Foreign & ColonialRead more >
Heightened volatility in the foreign exchange ("FX") markets has increased the level of risk that companies face. Managing currency exposures inherent in the globally diversified portfolios is now front and center for many firms, including alternative fund managers as a topic of interest, particularly among oversight boards with fiduciary responsibility.
BNY Mellon’s Currency Administration group provides an outsourced passive currency hedging service that helps companies manage the currency risk of their international portfolios. In this seminar we will discuss how hedge programs may help reduce the operational and financial risk of foreign currency exposures.
Seminar topics will include:
* Immigration considerations for starting a business in the U.S.
* Visa options for essential personnel
* Corporate business formation and establishing a business presence
* Tax considerations for new businesses
The Government has just announced guidelines which will prompt almost all foreign investors to relook at their structure in India, given that LLPs are more tax efficient and flexible.Read more >
Foreign banks are increasingly seeking to diversify their financing opportunities.
With careful planning, banks can access US investors without subjecting themselves to the securities registration requirements applicable to public offerings and to ongoing disclosure and governance requirements applicable to US reporting companies.
This IFLR web seminar, in association with Morrison & Foerster, tackles the issue. Topics will include:
- Issuances exempt from registration under Rule 144A,
- Issuances that rely on the exception from registration provided by Securities Act Section 3(a)(2) for securities offered or guaranteed by banks,
- Setting up a Rule 144A or bank note program for straight debt, structured products or other securities,
- Issuing covered bonds in reliance on Rule 144A or Section 3(a)(2),
- Yankee CD programs, and
- Banking and securities regulatory requirements to consider prior to setting up an issuance program.
Peter Ewins, Fund Manager of F&C Global Smaller Companies Trust, Robert Siddles, Fund Manager of F&C US Smallers Companies and Sam Cosh, Fund Manager of European Asset TrustRead more >
Financial institutions are facing a number of significant challenges that will require careful analysis in the coming months. A number of provisions of the Dodd-Frank Act will affect foreign banks that conduct business in the United States. Regulatory reforms underway in the EU also will need to be factored into the business plan of any internationally active foreign bank. Finally, international bank regulators continue to discuss the Basel III framework. Panelists will discuss:
- An overview of the Dodd-Frank Act;
- The categorization of institutions as “systemically important financial institutions”;
- Application of the new resolution mechanism to the U.S. operations of a foreign bank;
- Volcker Rule restrictions;
- The effect of regulations relating to OTC derivatives;
- Resolution plans requirements;
- Regulations affecting regulatory capital, which would affect U.S. intermediate bank holding companies of international banks;
- Foreign fund exception to the private fund registration rule;
- Executive compensation and governance requirements applicable to foreign issuers;
- The Basel III Framework; and
- Regulatory reforms affecting financial institutions doing business in the EU.
The recent US regulatory reforms contain a number of provisions which are so broadly worded they may have extraterritorial application. There are also provisions intended to affect foreign institutions doing business in the US. This IFLR web seminar discusses those provisions and guides banks and other licensed institutions through the practical realities of the legislation.
· Nicholas Pettifer, IFLR Americas editor, IFLR
· Adriaan Van Der Knaap, UBS Securities
· Anthony Ragozino, UBS Securities
· Anna Pinedo, Morrison & Foerster LLP
· Barbara Mendelson, Morrison & Foerster LLP
With the widely-reported increase in FCPA enforcement by the US Department of Justice and the Securities and Exchange Commission, and the new UK Bribery Act recently taking effect, corporations are increasingly required to conduct anti-bribery due diligence and investigations across the globe. Yet EU data privacy laws often seem to be in direct conflict with US regulator’s expectations for credible investigations. Complying with US and EU requirements can require creative solutions and a strategic legal and technical partnership to gather and review the necessary data and documents.
Attend this webcast, co-presented by Kelly Garrett Thorman of Fulbright & Jaworksi and Craig Earnshaw of FTI Technology, to learn both the legal and technical perspectives on:
• Data privacy requirements as they relate to investigations;
• Practical steps and considerations for large-scale international on-site document collection, processing and review;
• Best practices from a recently completed European investigation.
2012 saw many important developments in the Foreign Corrupt Practices Act, from the first announced prosecution declination to new M&A anti corruption due diligence requirements, and capped off by new guidance on the FCPA from the U.S. government. Presented by Paul Hasting LLP's Timothy Dickinson, one of the longest-practicing members of the FCPA bar. He is joined by partners Palmina Fava and Morgan Miller.Read more >
This web seminar will discuss the implications of India's Direct Tax Code on foreign investors.Read more >
Foreign-Cubed Securities Actions: What Are They? Why Are They Important? Are They Here To Stay?
The scope of U.S. securities law in global financial markets remains an open and increasingly important question, especially in the post-credit crisis global economy. One interesting line of cases in this arena are the so-called “foreign-cubed” cases in which a US securities class action is filed in a US court against a foreign issuer on behalf of foreign investors who purchased the securities on a foreign exchange. Because Congress has remained silent on such actions, and because there is no Supreme Court precedent regarding foreign-cubed litigation, federal courts have been fertile ground for decisions regarding the propriety of foreign-cubed cases. To date, there has been no consensus among US federal courts as to what specific test or factors to apply in determining whether they have subject matter jurisdiction over foreign cubed cases. This presentation will survey the current case law and explain how the courts are applying jurisdictional tests in foreign-cubed litigation. It also will address the legal precedents upon which the current cases rely and discuss the competing policy interests related to maintaining or declining such extraterritorial jurisdiction. Finally, the discussion will focus on potential future developments in the law of foreign-cubed cases, as well as strategies for a successful securities litigation practice in this area.
Joseph De Simone is Co-Head of the Firm's Securities Litigation and Corporate Governance Action Group
The due diligence requirements for new and pre-existing accounts are now set and deadlines are quickly approaching. There are less than 10 months until FATCA goes live and foreign financial institutions across the globe need to start getting ready now. FATCA’s Final Regulations and the model intergovernmental agreements (“IGAs”), although complex when first read, can be simplified to make implementation more efficient.
In this complimentary webcast, Navigant’s FATCA experts Richard Kando and Jeffrey Locke will discuss concrete steps, challenges and best practices that all financial institutions need to know to successfully operationalize FATCA’s due diligence requirements.
By now many have heard of the US Foreign Account Tax Compliance Act (FATCA) and its impact on the US and international capital markets. The FATCA provisions, which will be phased in beginning on January 1 2014 could dramatically alter the way US corporations raise funds abroad, the way non-US financial institutions are forced to comply with US tax law, as well as the way many foreign investors invest in US securities.
The panel will discuss:
The background of FATCA;
The FATCA 30% tax on "withholdable payments" such as interest, dividends, and securities sales proceeds beginning January 1 2014 and on "passthru payments" beginning January 1 2017; and,
The impact of FATCA on capital markets transactions including equity and debt offerings, swap transactions and other structured products.
Foreign currency exposure is a by-product of investing outside one’s home market. When investors take on exposure to global equities, they also assume the foreign currency exposure that stocks from elsewhere involve. Currency risk has long posed a problem for investors, with many conflicting views as to whether they should hedge their foreign currency exposure and, if they choose to do so, a range of options available to them.
Given the large moves in foreign exchange, many institutional investors are struggling how to address their FX exposure. In this webcast, we will discuss the currency conundrum, our recommended approach, as well as our current outlook.