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Hong Kong: Contracts (Rights of Third Parties) Bill

Hong Kong - June 4 2013 The Hong Kong government commenced a public consultation on a Contracts (Rights of Third Parties) Bill ("Bill"). The Bill seeks to reform the common…

Lawrence R. Hamilton, Martin Mankabady, Vikram Sidhu

Financial Holding Company Act 2013

Singapore - May 9 2013 Singapore's legislature enacted the Financial Holding Company Act 2013 ("Act") on 8 April 2013. The Act introduces a regulatory framework for the…

Lawrence R. Hamilton, Martin Mankabady, Vikram Sidhu

New York Issues Information Request on Use of Big Data in Life Insurance Underwriting

USA - July 5 2017 The New York Department of Financial Services (NYDFS) continued the steady drumbeat toward regulation of insurers' use of Big Data on June 29, 2017…

Lawrence R. Hamilton, David Heales, Jay A. Kallas, Francis R. Monaco

Additional states introduce credit for reinsurance reform legislation; New Jersey proposes new credit for reinsurance regulations

USA - March 5 2012 The Model Act revisions provide that the Form B must include a statement that the insurer’s board of directors is responsible for any oversees corporate governance and internal controls and that the insurer’s officers or senior management have approved, implemented and continue to maintain and monitor corporate governance and internal control procedures.

Lawrence R. Hamilton, Martin Mankabady, Annemarie Payne

UK’s ‘controlled foreign company’ rules

United Kingdom - May 31 2012 The UK’s ‘controlled foreign company’ (“CFC”) rules are directed at companies which artificially divert UK profits to low tax territories or other favourable overseas tax regimes so as to reduce their UK tax liabilities.

Lawrence R. Hamilton, Martin Mankabady