Brazil proposes new regulation to boost cartel enforcement
On 14 December 2012, the Administrative Council for Economic Defense (CADE), Brazil’s competition authority, proposed a regulation that improves the settlement procedure for companies involved in cartel activity that fail to qualify for amnesty. The public comment period closed on 14 January 2013, and CADE is expected to enact the regulation in its final form by the end of February.
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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.