Accountants and auditors as SEC whistleblowers
Nearly every public company and financial industry firm subject to the enforcement jurisdiction of the US Securities and Exchange Commission employs both internal and external accountants and auditors. Under the SEC’s complicated whistleblower rules promulgated under the Dodd-Frank Act, these accountants and auditors may be able to use information obtained while performing their professional duties to blow the whistle on a client or employer and get a monetary award. This Alert is intended to make those rules relatively easy to understand.
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Jurisdiction of the Hong Kong Courts re winding up and unfair prejudice petitions — offshore companies
Hong Kong law contains a number of provisions designed to protect the interests of minority shareholders, including the “unfair prejudice” remedies under section 168A of the Companies Ordinance and the Ordinance’s “just and equitable” winding-up provisions.
The EU’s banking union proposals, consolidating the European regulatory supervision of credit institutions
On 12 September 2012 the European Commission adopted legislative proposals, including a draft EU Regulation, to establish a single supervisory mechanism for banks which is to be led by the European Central Bank.