By Nathalie Duguay, Tim Dolan, Ed Hall and Christian Schatz, King & Wood Mallesons
The still-controversial Alternative Investment Fund Managers Directive (AIFMD) regulates private equity and hedge fund managers that operate within the EU, and offers one significant advantage to anyone who becomes fully authorised and complies with its demanding rulebook: a “passport”
by Wu Ye King &Wood Mallesons Shenzhen,China
A new “filing and negative list” regulatory system for FIEs has now been officially launched in China.
On October 8th, 2016, the Ministry of Commerce (“MOFCOM”) issued the Interim Measures for the Administration of Establishment and Change Filings of Foreign-invested Enterprises (“Interim Measures”), 34 days after the Standing
By Ian Borman and Lorraine Vaz, King & Wood Mallesons London
The Bail-In Clause has been causing lawyers to scratch their heads for some time. Will Brexit mean that English-law contracts have to include a Bail-in Clause? What happens if a counterparty refuses to incorporate the Bail-In wording?
Bail-In – a reminder
What does
By Chen Yun (Robert) Wang Rong King &Wood Mallesons Shanghai,China
The Consultation Paper issued by SAT on 14 October 2016 is essentially the operating rules for the implementation of CRS within PRC mainland territory by converting the international applicable CRS into detailed requirements suitable for PRC national conditions and providing legal basis and operational guideline
作者：陈运 汪镕 金杜律师事务所金融资本部
国税局于2016年10月14日公布的征求意见稿，本质上是CRS在中国境内具体实施的操作细则，以便于将国际通用的CRS转化成适应中国国情的具体要求，为在中国境内实施CRS提供法律依据和操作指引。
征求意见稿要求中国境内的商业银行、证券公司、基金管理公司、特定保险公司、信托公司等符合征求意见稿定义的“金融机构”对客户（即账户持有人）开展尽职调查工作，识别非居民金融账户，获取必要账户信息，用于信息报送。征求意见稿还对该等尽职调查工作的最低要求做出了详尽的规定。
征求意见稿将于2016年10月28日结束意见征集，正式规定预计于2016年底前公布，并于2017年1月1日正式实施。
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作者: Ed Hall Isabel Rodriguez King & Wood Mallesons London, United Kingdom
在过去数年，环境、社会和管理（ESG）问题对私募基金及风险投资基金管理人及其投资者而言越来越重要。在存在各种确保责任投资的压力的同时，某些证据显示ESG政策可能对收益有正面影响。因此，启动融资流程的管理人必须面对许多尽职调查要求。责任投资原则（PRI）——一项由投资者与联合国合作发起的倡议——最近发布了《有限合伙人责任投资尽职调查问卷》（尽调问卷），以帮助投资者并鼓励更为标准化的尽职调查。
Environmental, social and governance (ESG) issues have become increasingly important to private equity and venture capital fund managers and their investors over the last few years. And as well as the various pressures to ensure responsible investment, there is some evidence that ESG policies may have a positive effect on returns. Managers starting the fund raising process are therefore subject to numerous due diligence requests, and the Principles for Responsible Investment (PRI), an investor initiative in partnership with the United Nations, have recently released the “Limited Partners’ Responsible Investment Due Diligence Questionnaire” (DDQ) to assist investors and encourage more standardised due diligence.
Continue Reading 责任投资原则”如何重新定义投资行为？
By Neil Carabine,Partner of KWM Australia
1 IntroductionChina’s outward foreign direct investment (FDI) has increased substantially over the past decade. At US$111.5 billion in total in 2015, outbound FDI exceeded inbound FDI for the second year running. Aided by the creation of new / simplified regulatory channels, China’s outbound FDI is expected to
作者：Neil Carabine 金杜律师事务所澳大利亚分所
1 引言中国的对外直接投资在过去的十年有快速的增长。在2015年的对外直接投资总额为1115亿美元，连续第二年超越对内直接投资。随着新/简化监管渠道的设立，预计中国的对外直接投资在将来五年的每年增长率将超过10% 。中国的第十三个五年计划亦鼓励中国投资者在更广泛的行业范围（例如金融科技、高端制造及房地产）并购及投资活动。
随着中国实施“丝绸之路经济带”及“21世纪海上丝绸之路”（称为一带一路）政策，预期基建设施的投资将会显著增加。仅在2016年首季，中国投资者已经在“一带一路”国家（主要是新加坡、印度及印度尼西亚）作出了35.9亿美元的直接投资，比2015年同期上升了40.2%（根据中国商务部资料）。随着中国投资者期望在全球市场扮演日益重要的角色，本文将着眼于投资者可以采取的主要步骤，以便减低其风险以及取得其投资的法律保障。
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By Bill Ye ， Duan Tao and Jessie Yu King & Wood Mallesons Shanghai,China
In the wake of Apple’s $14.5 billion EU tax ruling and the intensifying scrutiny of the accounts of tech giants, international taxation rules have become a major topic for discussion. Not surprisingly, businesses and their advisers have become very interested in
by Scott Farrell,King & Wood Mallesons Sydney, Australia
Australia is set to play a leading role in the international development of blockchain after theInternational Organization for Standardization (ISO) approved Standards Australia’s proposal for new international standards. Blockchain technology is a potentially fundamental evolution in global markets infrastructure and the standards should be an
