Some advice from victims of voter fraud who won the day

June 11, 2020 By Bruce S. Marks and Mike Roman "El Nuevo Metodo de Votar."  The year was 1993.  Control of the Pennsylvania state Senate turned on a special election in Philadelphia.  Although the district was heavily Democratic, the...

1782 Discovery Blog: California Federal Court Upholds §1782 Discovery For Private Foreign Arbitration Impacting Silicon Valley

In HRC-Hainan Holding Co., LLC v. Yihan Hu, 2020 U.S. Dist. LEXIS 32125, at *11-12 (N.D. Cal. Feb. 25, 2020), the United States Court for the Northern District of California, which encompasses Silicon Valley, authorized  Chinese and Delaware registered companies...

1782 Discovery Blog: The Long Arm Of §1782 Discovery Is Used To Reach Documents Outside The U.S.

The Second Circuit in In re del Valle Ruiz, 939 F.3d 520 (2d Cir. 2019) and the  Eleventh Circuit in Sergeeva v. Tripleton Int'l Ltd., 834 F.3d 1194 (11th Cir. 2016) have held there is no per se bar to the extraterritorial application of 28 U.S.C. §1782 and that it...

COVID-19 Update: Russia Announces New Measure To Support Tenants (Federal law No. 166-FZ dated June 8, 2020)

It is expected that as a result of Russia’s many Covid-19 related restrictions on travel and economic activity, many commercial tenants will be unable to use leased properties to generate income to pay rent, while many landlords will continue to be obligated to make...

1782 Discovery Blog: The Second Circuit Affirms §1782 Discovery May Be Used To Obtain Documents From Outside The U.S.

In In re del Valle Ruiz, 939 F.3d 520 (2d Cir. 2019), the Second Circuit held there is no per se bar to the extraterritorial application of 28 U.S.C. §1782 and that it may be used to reach documents located outside of the United States. In the Southern District of New...

1782 Discovery Blog: The Eleventh Circuit Vacates A §1782 Discovery Order Because Foreign Proceedings Will Not Proceed

Under 28 U.S.C. §1782, the U.S. offers a very powerful litigation tool to parties to non-U.S. court proceedings allowing them to obtain bank records, documents and witness testimony from sources within the U.S., even if such evidence is unobtainable through the home...

Labeling antifa as a terrorist group will not have any legal consequences – RIA NEWS

June 1, 2020 Bruce Marks comments to RIA NEWS on D. Trump's statement that the United States will designate Antifa as a terrorist organization after a wave of riots and looting across US.He noted that it is now extremely important to establish whether protests were...

1782 Discovery Blog: The Sixth Circuit Upholds §1782 Discovery For International Arbitration

Under 28 U.S.C. §1782, the U.S. offers a very powerful litigation tool to parties to non-U.S. court proceedings allowing them to obtain bank records, documents and witness testimony from sources within the U.S., even if such evidence is unobtainable through the home...

The Impact Of Coronavirus (COVID-19) On Business: Non-Performance Of Contracts Based Upon Force Majeure, CISG Article 79 And UCC 2-615

The worldwide coronavirus outbreak, designated as COVID-19 by the World Health Organization, is having an immediate impact on businesses throughout the world.  Companies should proactively take steps to minimize the economic impact from COVID-19, including...

RUSSIA UPDATE: MOSCOW REMAINS ON LOCKDOWN

On March 30, 2020, Russia implemented a “non-working” period for Russia to slow the spread of COVID-19. On May 12, 2020, this was cancelled.  Restrictions are being gradually lifted and each region of Russia is setting its own rules for resuming normal...

Banks and Insurance Companies Will Identify Foreign Clients

by | Feb 17, 2016 | Blog, Publications | 0 comments

New reporting requirements to organizations involved in providing banking, financing and insurance service have been implemented. The requirement concerns monetary and other transactions involving property.
The organizations are required to collect information on foreign clients, including: registration numbers, main place of business, and information on beneficiaries and founders. The requirements will extend to аll foreign unincorporated entities, such as trusts and funds.
Federal Law dated December 30, 2015 N 424-ФЗ
Entered into force on January 10, 2016 

Mass Media Outlets Which Failed to Report Foreign Financing will be Subject to Fine

Pursuant to the changes in the law “On Mass Media”, mass media outlets have to report foreign financing to the Russian government (RosComnadzor -Russian Committee on Supervision). Failure to provide the report entails penalty in the amount of double the amount of the financing received.
(A year ago a federal law restricted a possibility of  foreign ownership in a Russian media to 20 per cent. The requirement came in effect as of January 1, 2016. The media owners have until Feb. 1, 2017 to comply with the new requirements by making the necessary structural changes).
 Federal Law dated December 30, 2015 N 464-ФЗ
The changes came into force on January 10, 2016

Quota for Foreign Participation in Banking Organizations Limited to 50%

The Bank of Russia will decline to register and issue license to credit organizations when participation of the foreign capital in its charter capital exceeds 50%. As provided for in the law “On the Central Bank of the Russian Federation” (Bank of Russia)”, the regulator can impose additional requirements to credit organization with foreign investments as far as the reporting, the protocol for confirmation of nomination of the executives and the list of the permitted banking transactions.
Federal Law dated 12.2015 N 372-ФЗ
Came into force December 26, 2015

Введены новые требования к отчетности организаций, которые оказывают услуги в банковской, финансовой области, а также в сфере стаховых услуг. Новые требования касаются операций с деньгами и иным имуществом.
Организации обязаны устанавливать ряд сведений об иностранных клиентах, в том числе: регистрационные номера, место основной деятельности, а также выявлять информацию о бенефициарных владельцах и учредителях. Требования распространяются на все иностранные структуры без образования юрлица (например, трасты и фонды).
Федеральный закон от 30.12.2015 N 424-ФЗ
Вступил в силу 10 января 2016 года

Если СМИ не сообщит об иностранном финансировании, его оштрафуют

Согласно изменениям в закон “О средставх массовой информации”, издатели и редакции СМИ обязаны уведомлять Роскомнадзор о получении иностранного финансирования. За несоблюдение этого требования штарф для СМИ предусмотрен  в двукратногм размере полученных из-за границы денежных средств.
(Год назад федеральным законом возможность иностранного участия в российсокм СМИ была ограничена до 20 процентов. Требование вступило в силу 1 января 2016 года. Владельцы СМИ предписано произвести необходимые структурные изменения до 1 февраля 2017 года).
Федеральный закон от 30.12.2015 N 464-ФЗ
Вступил в силу 10 января 2016 года.

Квота на иностранные инвестиции в банковской сфере установлена на уровне 50%

Банк России откажет в регистрации и не выдаст лицензию кредитной оганизации, если доля участия иностранного капитала достигнет 50%. Как предусмотрено законом «О Центральном банке Российской Федерации (Банке России)», регулятор может установить дополнительные требования к кредитным организациям с иностранными инвестициями в отношении порядка представления отчетности, утверждения состава руководства и перечня осуществляемых банковских операций.
Федеральный закон от 14.12.2015 N 372-ФЗ
Вступил в силу 26 декабря 2015 года