作者：金杜律师事务所

兴证国际金融集团有限公司（简称“兴证国际”，股票代码：8407) 在金杜律师事务所协助下于香港联交所创业板上市。本次兴证国际公开发行的股数为10亿股，其中香港公开发售1亿股，每股发行价为1.33港元，总募集资金额约为12.83亿港元。

Advised by King & Wood Mallesons (KWM), China Industrial Securities International Financial Group Limited (CISI, Stock Code: 8407) launched its initial public offering on the GEM Board of the Hong Kong Stock Exchange (HKSE). The IPO comprised a total of 1 billion shares issued, including 100 million H-shares. Priced at HK$1.33 per share, the IPO raised approximately HK$1.283 billion.  Continue Reading 金杜助力兴证国际于香港证券交易所创业板成功上市 创十年来最大创业板IPO

作者：吴巍 刘艳洁 金杜律师事务所争议解决部

wu_wei对医药行业稍有了解的人可能都知道，组织、举办各类学术会议，邀请知名医生参加并授课，仍是医药行业常见的营销方式。在这种营销方式中，药企一般会向授课医生支付一定的讲课费作为劳务报酬。也正是基于此，多数药企将讲课费视为可向医生支付的合理费用。

但是，随着我国反商业贿赂查处力度的不断加大，某跨国医药企业在经历了2013年的风波后，率先宣布取消销售指标，取消医生讲课费。紧随其后，另外两家跨国医药企业也分别在今年初要求员工停止向医生支付讲课费。为什么看似合理的讲课费会被越来越多的跨国药企叫停？我们理解主要原因不外乎以下两个。

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By George Pinkham Parik Dasgupta Laura Brunnen Dr. Christian Cornett King & Wood Mallesons

Last week, the world woke to the news that Donald Trump had scored a stunning upset. Since then, many commentators have tried to understand what this means for the American economy, for immigration (and wall-builders), and for world peace – among other vital topics. But, just as he was the most unpredictable of candidates, Mr Trump is likely to be a very unpredictable President – and it is hard to see what he has in store for the American people and the world at large.

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作者：段桃 刘勃 金杜律师事务所商务合规部

duan_tao近年来随着经济全球化的进一步深入，中国企业加快了“走出去”的步伐。在跨境投资的过程中，不同国家（地区）的税制差异形成的所谓“税收筹划空间”对投资者而言往往极具吸引力。然而，在自得于未来可观的筹划收益时，您是否留意到那些一不小心就会让人坠入深渊的反避税“陷阱”？

在下文中，我们将通过一起“机关算尽，却满盘皆输”的经典案例，和大家一起审视解读这些致命的反避税武器。

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By Susan Ning, Hazel Yin, Lingbo Wei, Huihui Li  King & Wood Mallesons’ Commercial & Regulatory group

untitledOuntitledn 7th November 2016, the PRC’s Cyber Security Law was approved by the Standing Committee of the National People’s Congress and will enter into force on 1 June 2017. Once promulgated, the Cyber Security Law attracts widespread attention from all sectors of the community and a series of concepts immediately become hot topics, such as the “cyberspace sovereignty”, the “grading protection of cyber security” and the “critical information infrastructure”, etc.

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作者：叶永青 余悦 兰孟 金杜律师事务所商务合规部

Ye Yongqing (Bill)在过去的一个月里，中国的许多高净值人士被国家税务总局发布的《非居民金融账户涉税信息尽职调查管理办法（征求意见稿）》（以下简称“办法”）所困扰着，然而，如何从体系的角度看待这一办法并作出应对？我们希望通过系列文章的方式来帮大家理清思路。

首先，我们要理解，这个的问题的本质是一个税务问题，随着国际经济贸易的发展以及全球化进程的加速，越来越多的纳税人利用离岸金融账户进行跨境交易，离岸金融账户的存在成为税收监管中重要的信息节点，而相关的信息则往往是税务机关无法取得的。

在经合组织“税基侵蚀和利润转移”(以下简称“BEPS”)行动计划的大背景下，为应对由于信息不对称造成的国际税收监管难题，20国集团（G20）和经合组织积极推行全球涉税信息透明化，希望通过建立统一的信息搜集、报告标准，并签署多边条约的方式推行全球涉税信息的交换。而在OECD推行的金融账户自动信息交换（AEOI）体系下，最重要的目的就是通过国际协作提高跨境涉税信息的透明化。需要特别说明的是，金融信息的交换当然还会带来包括外汇管理，反洗钱等综合管理措施的影响，一如此前总局和外汇管理局发文提示的一样。 Continue Reading 当银行遇见税务局——新金融下的税收征管之律师必读（一）

By Ed Hall Rob Mailer Ajay Pathak Cindy Valentine King & Wood Mallesons’ London office.

The European venture capital landscape has come a long way since the establishment of the European Investment Fund (EIF) on 14 June 1994, and the EIF has played a significant role in the progress that has been made in the sector. Established with the primary aim of driving innovation and growth among small and medium sized businesses in the EU, the EIF has become invaluable for many venture and smaller buyout funds; a number of which may not have been raised without the EIF’s cornerstone investment and subsequent support. In a June research paper, EIF claimed credit for catalysing a whopping 41% of European VC investment activity in 2014, having themselves been directly responsible for 10%.

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By Tim Dolan and Charlotte Collins King & Wood Mallesons’ London office.

Tim DolanFirms dealing with clients need to be aware of various changes under MiFID II, many of which will require careful reviews of policies and procedures. This alert covers some of the key changes in relation to client obligations, many of which are designed to increase client protection and therefore will result in more onerous obligations for firms.

Changes in relation to the suitability and appropriateness requirements, and best execution, will be covered in separate alerts.

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作者：金杜律师事务所

2016年11月，金杜律师事务所协助徽商银行股份有限公司（简称“徽商银行”）成功在境外非公开发行8.88亿美元非累积永续境外优先股，首期票面股息率为5.50%。该项目是中国城商行首单成功发行的境外优先股，也是迄今为止第一笔来自无国际评级中资银行的境外优先股。 Continue Reading 金杜协助徽商银行成功发行8.88亿美元境外优先股

作者：金杜律师事务所

作为Euromoney集团在亚洲的权威法律排名机构，《亚洲法律概况》（Asialaw Profiles）在11月15日发布了最新的2017年度榜单。金杜律师事务所的18个领先业务领域及26名领先律师跻身该榜单。在被评为领先律所的18个业务领域中，有11个业务领域获“杰出团队”的排名，其他7个业务领域分获“特别推荐”及“推荐”排名；同时，26名金杜各领域合伙人荣登 “领先律师”榜单。

《亚洲法律概况》2017年度榜单已经是第21期。调研结果根据相关法域最为重大的交易及纠纷案的基础上得出，对领先律所和部分重要的领先律师个人提供了简明权威的指南。 Continue Reading 喜报频传：金杜18个领先业务领域 26名领先律师跻身最新《亚洲法律概况》2017榜单