By Vanessa Docherty King & Wood Mallesons’London office.
The Criminal Finances Act (“CFA”) 2017 comes into effect on 30 September 2017. The CFA introduces two new offences which could affect any company with links to the UK.Article written by KWM Finance team in Madrid
In April 2017, the EU Council approved new rules on prospectuses in order to improve the access to financial markets for companies, in particular SMEs (Regulation (EU) 2017/1129 of the European Parliament and the Council, the “Prospectus Regulation”).
2017年4月，欧盟理事会批准招股说明书新规定，以改善企业，特别是中小企业的金融市场准入制度（欧洲议会和理事会2017年第1129号条例（欧盟法规）《招股说明书规定》）。 Continue Reading 欧盟理事会通过新的招股说明书规定
作者：吴青 乐清月 金杜律师事务所商务合规部
编制自行监测方案，排污单位应当首先查清所有污染源（包括废气、废水和噪声污染等），确定主要污染源及主要监测指标。在此基础上，排污企业编制的自行监测方案，最为主要的六点内容就是监测点位、监测指标、监测频次、监测技术、采样方法和监测分析方法。同时，为了保证自行监测数据的质量，自行监测方案还应当包括质量保证与控制措施。
By Isabel Rodriguez King & Wood Mallesons’ Madrid office.
Directive 2011/61/EU, on Alternative Investment Fund Managers (“AIFMD,” hereinafter the “Directive“) entered into force on July 22, 2011, with a deadline for transposition by the Member States of July 22, 2013. This Directive was transposed into Spanish law by virtue of Law 22/2014 of November 12, which also amended Law 25/2005, governing the former legal framework for private equity.
Despite foreseeable initial concerns regarding the new legal framework, it is safe to say that, in general, the market has been able to easily adapt to the new rules. However, certain inefficiencies requiring correction have become clear, several of which are based on a lack of consistency in application of the regulations by each Member State, and others which are based on mere technical defects in the relevant regulations. Continue Reading The Regulatory Framework in Perspective: Questions under Review
作者：聂卫东 童琦 金杜律师事务所金融资本部
上个月走了一个能干的同事，你在上海的盛夏，忙得没心思出汗。
今天，总裁突然把你叫到办公室，递给你一张纸，笑眯眯地看着你。你快速瞥了一眼，上面写着你的名字，2000万股股票认购权。总裁还是盯着你看，目光中似乎充满了投桃报李的期待。
你接过那张纸，脑子迅速转了起来，甚至忘了跟总裁说声谢谢。这上面的数字令你有些眩晕，2000万股，行权价每股1.5元，你盘算着，把两套房子都卖了，加上这几年偷偷攒下的私房钱，还不够付。你所在的公司是资本密集型企业，注册资本80亿，而且最近还在增资扩股，这个业务需要的投入会是天文数字。和其它轻资产公司不一样，你敢打赌这2000万是实打实的股数，轻资产公司做员工持股时，经常玩一个小把戏，把股数人为放大，比如1股模拟成10股，让员工看着高兴。而你，面对的是相反的困扰：这股份数实在太多了！ Continue Reading 参加股权激励，我得拿出1个亿？
作者：金杜律师事务所
2017年7月31日，大参林医药集团股份有限公司（简称“大参林”，股份代码：603233）在金杜律师事务所的协助下首次公开发行A股股票并在上海证券交易所主板成功上市。大参林此次成功发行4,001万股，发行价为每股24.72元，募集资金总额为98,904.72万元，成为第四家登陆A股的零售连锁药店，其首发价创零售连锁药店A股IPO新高。 Continue Reading 金杜助力华南零售药店龙头大参林成功登陆上交所主板
By Urszula McCormack, Evan Manolios and Marco Sin King & Wood Mallesons’ Hong Kong office.
The gig economy is upon us. The gig economy (or sharing economy) model affects how large parts of modern society work, interact, and in what capacity. How governments grapple with new and emerging working models is important: for maintaining and enhancing business, for the protection of workers’ rights, and for promoting and realising Hong Kong as an innovation hub it desires to be. Continue Reading The “Gig Economy” : The New Show in Town
作者：关峰 朱嘉寅 唐路 金杜律师事务所争议解决部
前几周我们探讨了优化管辖、诉讼主体以及担保合同中的争议等问题，本文也是本系列最后一篇文章，将尝试分析承销机构可能面临的承担法律责任的风险。
By Paul Starr, Justin Lo and Nicholas Lee King & Wood Mallesons’ Hong Kong office.
This seminar took place in January 2017. Panellists were: Ms Pru Bennett (Director and Head of the Corporate Governance and Responsible Investment Team at BlackRock); Mr Carl Wilkins (Fiscal Crime Liaison Officer for HM Revenue and Customs in Hong Kong); Mr Simon Booker (Head of Capital Projects and Infrastructure at PwC Hong Kong); our own Paul Starr; and Ms Gillian Meller (Legal and European Business Director at MTR Corp) as moderator. They shared their insights and expertise on ‘Applying Governance to Open up One Belt, One Road Opportunities’. Continue Reading Belt and Road risks and mitigation strategies Summary of a Seminar participated in by Paul Starr for the Hong Kong Institute of Chartered Secretaries
作者：Paul Starr、Justin Lo和Nicholas Lee 金杜律师事务所香港办公室
2017年1月，香港特许秘书公会研讨会成功举办。与会人员包括贝莱德公司，公司治理与责任投资主管Pru Bennett女士, 英国皇家税务与海关总署，香港财政犯罪联络官Carl Wilkins先生，罗兵咸永道会计师事务所资本项目与基础设施负责人Simon Booker先生，金杜合伙人Paul Starr以及研讨会主持港铁公司法律与欧洲业务主管Gillian Meller女士。他们就运用公司治理开拓“一带一路”机遇分享了各自的观点和意见。
与会人员均强调，“一带一路”项目的规模和国际性意味着获得成功需承担的风险高于一般项目，主要包括政治、安全、腐败和主权方面的风险。他们还强调，可能影响“ 一带一路”项目的金融风险更大。例如，“ 一带一路”沿线新兴国家的项目融资能力各不相同，因此了解可能面临哪些风险对于投资者至关重要。 Continue Reading “一带一路”风险与规避策略—— Paul Starr参加香港特许秘书公会研讨会纪要
