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Journal March 2017 IPBA JOURNAL No 85 NEWS & NEWS LEGAL & UPDATE Journal NEWS & LEGAL UPDATE 85 No March 2017 March March 2017 NO85 IPBA JOURNAL www.ipba.org Journal The Official Publication of the Inter-Pacific Bar Association Publisher Paul Davis March 2017 No 85 Contents Editor Kieran Colvert IPBA News The President’s Message Editorial Kiri Cowie 4 Julie Yao 5 Upcoming Events Design Portia Le 6 The Secretary-General’s Message Advertising Sales Jennifer Luk E: [email protected] Legal Update Frank Paul Corporate Governance in India Faces a Potential E: [email protected] 9 Watershed Moment by Vyapak Desai and Siddharth Ratho, India T: +852 3796 3060 VW, Deutsche Bank and Siemens ­­– International 16 Compliance Challenges for German Companies by Roland Falder, Germany The New Framework for Financial Markets in Europe: 21 A Brief Introduction to the Main Provisions of the Ninehills Media Limited Market Abuse Regulation 596/2014 Level 12, Infinitus Plaza, by Benjamin Cohu, France 199 Des Voeux Road, Sheung Wan, Hong Kong Corruption History Does Not Prevent Receipt of a Tel: +852 3796 3060 27 Public Contract in Europe Fax: +852 3020 7442 by Mirella Lechna, Poland Email: [email protected] Internet: www.ninehillsmedia.com Emirates Maritime Arbitration Centre (‘EMAC’) : ISSN 1469-6495 31 Commencement of Operations in September 2016 IPBA is incorporated in Singapore. by Richard Briggs, Dubai and Raymond Kisswany, Company registration number: Dubai 201526931R IPBA Journal is the official journal of the Inter-Pacific Bar Association. Member News Copyright in all material published in the journal is retained by the IPBA. No part of this journal may be IPBA New Members reproduced or transmitted in any 35 December 2016 – February 2017 form or by any means, including recording and photocopying without the written permission of the copyright holder, application for which should Members’ Notes be addressed to the IPBA. Written 38 permission must also be obtained before any part of this publication is stored in a retrieval system of any nature. The journal does not accept liability for any views, opinions, or advice given in the journal. Further, the contents of the journal do not necessarily reflect the views or opinions of the publisher and no liability is accepted in relation thereto. Cover Image: LeoPatrizi IPBA Leadership (2016-2017 Term) Officers Deputy Secretary-General Membership Committee Chair Caroline Berube Anne Durez President HJM Asia Law & Co LLC, Guangzhou Total SA, Paris La Defense Cedex Dhinesh Bhaskaran Membership Committee Vice-Chair Shearn Delamore & Co., Kuala Lumpur Programme Coordinator Tatsuki Nakayama Sumeet Kachwaha Nakayama & Partners, Tokyo President-Elect Kachwaha & Partners, New Delhi Publications Committee Chair Denis McNamara Leonard Yeoh Lowndes Associates, Auckland Deputy Programme Coordinator Tay & Partners, Kuala Lumpur Jose Cochingyan III Cochingyan & Peralta Law Offices, Manila Publications Committee Vice-Chair Vice President John Wilson Perry Pe John Wilson Partners, Colombo Committee Coordinator Romulo, Mabanta, Buenaventura, Sayoc & De Los Angeles, Masafumi Kodama Webmaster Manila Kitahama Partners, Osaka Michael Cartier Walder Wyss Ltd., Zurich Secretary-General Deputy Committee Coordinator Deputy Webmaster Miyuki Ishiguro Nini Halim Varya Simpson Nagashima Ohno & Tsunematsu, Tokyo Hutabarat Halim & Rekan, Jakarta Law Offices of Varya Simpson, Berkeley, CA Jurisdictional Council Members India: Dhruv Wahi Philippines: Rocky Reyes Kochhar & Co, New Delhi SyCip Salazar Hernandez & Gatmaitan, Manila Australia: Bruce Lloyd Clayton Utz, Sydney, NSW Indonesia: David Abraham Singapore: Francis Xavier Abraham Law Firm, Jakarta Rajah & Tann LLP, Singapore Canada: Robert Quon Dentons Canada LLP, Vancouver, BC Japan: Ryosuke Ito Switzerland: Bernhard Meyer TMI Associates, Tokyo MME Partners, Zurich China: Audrey Chen Korea: Chang-Rok Woo Taiwan: Edgar Chen Jun He Law Offices, Beijing Yulchon, Seoul Tsar & Tsai Law Firm, Taipei France: Jeffrey Holt Malaysia: Mohan Kanagasabai Thailand: Punjaporn Kosolkitiwong Sofregaz SAS, Montrouge Mohanadass Partnership, Kuala Lumpur Dej-Udom & Associates Ltd., Bangkok Germany: Sebastian Kuehl New Zealand: Ewe Leong Lim UK: Jonathan Warne Huth Dietrich Hahn Partnerschaftsgesellschaft, Hamburgt Anthony Harper, Auckland Nabarro LLP, London Hong Kong: Annie Tsoi Pakistan: Badaruddin Vellani USA: Keith Phillips Deacons, Hong Kong Vellani & Vellani, Karachi Watt, Tieder, Hoffar & Fitzgerald, LLP, McLean, VA At-Large Council Members Shawn Neylan Michael Soo Stikeman Elliott LLP, Toronto Shook Lin & Bok, Kuala Lumpur China: Yunchuan Jing Beijing Gaotong Law Firm, Beijing Corporate Counsel International Construction Projects Kapil Kirpalani Kirindeep Singh Hawaii & South Pacific Islands: Mark Shklov Hong Kong Rodyk & Davidson LLP, Singapore Mark T Shklov, AAL, LLLC, Honolulu, HI Cross-Border Investment International Trade India: Suchitra Chitale Michael Burian Corey Norton Chitale & Chitale Partners, New Delhi Gleiss Lutz, Stuttgart Trade Pacific Law, Washington, DC Latin America: Shin Jae Kim Eriko Hayashi Legal Development & Training Tozzini, Freire Advogados, São Paulo Oh-Ebashi LPC & Partners, Tokyo James Jung College of Law, Australia & New Zealand, Auckland Osaka: Hiroe Toyoshima Dispute Resolution and Arbitration Nakamoto Partners, Osaka Mohan Pillay Legal Practice Pinsent Masons MPillay LLP, Singapore Charandeep Kaur Regional Coordinators TRILEGAL, New Delhi Hiroyuki Tezuka Asia-Pacific: Michael Butler Nishimura & Asahi, Tokyo Mark Stinson Finlaysons, Adelaide, SA Fasken Martineau DuMoulin LLP, Toronto ON Employment and Immigration Law Europe: Gerhard Wegen Sandra McCandless Maritime Law Gleiss Lutz, Stuttgart Dentons US LLP, San Francisco, CA Sitpah Selvaratnam Messrs Tommy Thomas, Kuala Lumpur North America: Michael Chu Energy and Natural Resources McDermott Will & Emery, Chicago, IL Peter Chow Scholarship (Acting Chair) Squire Patton Boggs, Hong Kong Jay LeMoine Middle East: Richard Briggs Bull, Housser & Tupper LLP, Vancouver Hadef & Partners, Dubai Environmental Law Shweta Bharti Tax Law Committee Chairs Hammurabi & Solomon, Advocates & Corp. Law Advisors, Enrico G. Valdez New Delhi Tan Venturanza Valdez, Pasig City, Manila APEC Shiro Kuniya Insolvency Technology, Media & Telecommunications Oh-Ebashi LPC & Partners, Osaka Shinichiro Abe Barunesh Chandra Kasumigaseki International Law Office, Tokyo AUGUST LEGAL, New Delhi Aviation Law Atul Sharma Lynn Harrison, 3rd Women Business Lawyers Link Legal India Law Services, New Delhi Curtis Mallet-Prevost Colt & Mosle LLP, New York, NY Melva Valdez JG Law, Makati City, Manila Banking, Finance and Securities Insurance Jan Peeters Tunku Farik Anti-corruption & Rule of Law (Ad Hoc) Stibbe, Brussels Azim, Tunku Farik & Wong, Kuala Lumpur Young-Moo Shin Shin & Park, Seoul Competition Law Intellectual Property H. Stephen Harris, Jr. Riccardo Cajola Gerold W. Libby, Winston & Strawn, LLP, Washington, D.C. Cajola & Associati, Milan Zubler Lawler & Del Duca LLP, Los Angeles, CA 2 Mar 2017 Committee Vice-Chairs Tan Ai Leen, Singapore International Arbitration Centre, Lawrence Kogan, The Kogan Law Group, P.C., New York, NY Singapore Carla Amaral de Andrada Junqueira Canero, Barreto APEC Alexander Rupert Gunning QC, 4 Pump Court, London Ferreira e Brancher BKBG, São Paolo Shigehiko Ishimoto, Mori Hamada & Matsumoto, Tokyo Benjamin F. Hughes, School of Law, Seoul National, Annette Hughes, Corrs Chambers Westgarth, Melbourne Leng Sun Chan, Baker & McKenzie Wong and Leow, University, Seoul Singapore Robert Christopher Rhoda, Bird & Bird, Hong Kong Legal Development & Training Wang Zhengzhi, Beijing Globe-Law Law Firm, Beijing Neerav Merchant, Majmudar & Partners, Mumbai Ada Ko, Garvey Schubert Barer, Seattle, WA Raj Bhala, Kansas University, Kansas Urs Weber – Stecher, Wenger & Vieli Ltd., Zurich Sebastian Ko, Epiq Systems, Hong Kong Gerald Sumida, Carlsmith Ball LLP, Honolulu, HI Maidzuara Mohammed, Raja, Darryl & Loh, Kuala Lumpur Nobuo Miyake, Miyake & Yamazaki, Tokyo Employment and Immigration Law Tin Thiri Aung, The Law Chambers, Yangon Suet-Fern Lee, Morgan Lewis Stamford LLC, Singapore Frédérique David, Lex2B, Paris Pho Sotheaphal, Bassac Law, Phnom Penh Kumar Kanagasabai, Skrine, Kuala Lumpur Bruce Aitken, Aitken Berlin LLP, Washington, D.C. Aviation Law Linda Liang, King & Wood Mallesons, Beijing Piyush Gupta, Kochhar & Co, Gurgaon, Haryana Carolyn Knox, Ogletree Deakins Nash Smoak & Stewart, Gerald Murphy, Crowell & Moring LLP, Washington, D.C. P.C., San Francisco, CA Legal Practice Helen Tung, University of Greenwich, London Trent Sutton, Littler Mendelson, New York Hiroki Inoue, Nagashima Ohno & Tsunematsu, Tokyo Kok Seng Chong, Raja, Daryl & Loh, Kuala Lumpur Emerico De Guzman, ACCRALAW, Manila Energy and Natural Resources Syed Naqiz Shahabuddin, Naqiz & Partners, Banking, Finance & Securities Raoul Angangco, Villaraza & Angangco, Taguig City, Kuala Lumpur Conrad Chan, Kwok Yih & Chan, Hong Kong Metro Manila Abraham Vergis, Providence Law Asia LLC, Singapore Tat Chung Wong, Wong, Beh & Toh, Kuala Lumpur Peter Chow, Squire Patton Boggs, Central Thomas Zwissler, Zirngibl Langwieser Rechtsanwälte Ho Chien Mien, Allen & Gledhill, Singapore Maritime Law Partnerschaft, Munich Gmeleen Tomboc, Sidley Austin, Singapore Kyong Hwa (Michael) Kim, Stephenson Harwood LLP, Peter Owles, Buddle Findlay, Auckland Wang Jihong, Zhong Lun, Beijing Seoul Sean A. Muggah, Borden Ladner Gervais LLP, Vancouver Song Dihuang, Wang Jing & Co., Beijing & Shenzen Competition Law Yosuke Tanaka,
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