EUROPEAN COURT OF JUSTICE ON INSIDER DEALING
Market Abuse Directive defines insider dealing objectively
The European Court of Justice, in its decision dated 23 December 2009 (Case C‑45/08; Spector Photo Group NV and Chris Van Raemdonck versus Commissie voor het Bank-, Financie- en Assurantiewezen (CBFA)), has clarified the elements of insider dealing following a request from the Court of Appeal of Brussels.
The European Court of Justice was to interpret the expression ‘use of inside information’ in Article 2(1) of EU Directive 2003/6 (the Market Abuse Directive or MAD). That provision provides that the Member States are to prohibit any person referred to in …
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THE CUSTODY OF SECURITIES IN THE NETHERLANDS CARIBBEAN
Separate legal entity
Generally, securities that must be held by a Netherlands Antilles bank on behalf of its clients will be held by a custodian. In most cases the custodian is either a foundation (‘stichting’) or a wholly owned subsidiary (NV or BV) of the bank.
The scope of the activities of the custodian will be limited to holding shares, bonds, notes, certificates and other securities. The insolvency risk of the custodian is therefore minimized. Alternatively, these securities can also be held in the name of the custodian by independent custody companies abroad, including brokers, agents and sub-custodians. In both …
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PLC CROSS BORDER LAW FIRM RECOMMENDATIONS
Netherlands Antilles
According to PLC Cross Border (Which lawyer?), Spigthoff Attorneys & Tax Advisers is one of two firms dominating the Netherlands Antilles market for international work, both on- and offshore.
Spigthoff ranks high in corporate / M&A and dispute resolution.
Martijn Welten, who specialises in corporate law, mergers & aquisitions and corporate litigation, is (highly) recommended in the areas of dispute resolution and corporate/M&A.
Karel Frielink comes recommended in the area of high net-worth private clients. Karel is highly recommended in the areas of …
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AESX PLATFORMS ANNOUNCES LAUNCH OF WEST AFRICA SUSTAINABLE ECONOMIC INITIATIVE
The Alternative Electronic Stock eXchange has created a specialty exchange for sustainable (financial and social) investing, the MicroFinance Exchange MFDAQ.
The MicroFinance Exchange announced yesterday (20 May 2008) the availability for subscription of the first social enterprise to seek capital through the Exchange.
The West Africa Sustainable Economic Initiative (WASEI) is the brainchild of former Grameen Financial Officer Linda Yahr, supported by an impressive team whose mission is to create a “ladder of prosperity” to “bottom of …
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