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Russia: Easing Procedures of Company Registrations – what will the Future Hold?

In the past years the Russian authorities have made various efforts to simplify the procedures and rules which govern the registration of legal entities and sole entrepreneurs.  The significance of these efforts were not lost on the World Bank http://www.doingbusiness.org/rankings who adjusted Russia’s rankings in the “Ease of Doing Business” from the 51st to 40th place.  In the category “Starting ... Read More »

China’s New Court Register ‘Derails’ Debt Defaulters

BIIA reported recently that China has established the world’s largest online data platform to store court case information. The platform currently contains information from 91 million cases.  The government is strengthening measures designed to make life difficult for debtors, specifically people in contempt of court to encourage them to respect verdicts.  China Daily News reports recently that a debtor attempted ... Read More »

Russia: Additional Filing Requirements for Legal Entities and Single Proprietors

The Russian Unified Federal Register for legal entities has issued new data filing requirements As of October 1, 2016 Russian companies are obliged to file additional information about their business activities in the Unified Federal Register of legally relevant data on activities according to Federal Law of July 3rd, 2016 No.60-FL «On amendments to legislative acts of the Russian Federation». ... Read More »

China’s State Council to Further Ease Business Procedures

China is to further streamline registration procedures for private businesses, targeting a reduction in the costs associated with entrepreneurship and innovation as well as improving the business environment and employment.  The decision was made at a State Council executive meeting on Oct 14, presided over by Premier Li Keqiang. A number of measures have been put in place since 2015 ... Read More »

China Establishes Largest Online Data Platform to Store Court Cases

China has established the world’s largest online data platform to store court case information. The platform currently contains information from 91 million cases.  During a conference about the intersection of Internet and law in Beijing on Oct 16, Wang Lansheng, deputy director of the Information Office under the Supreme People’s Court (SPC), said that the SPC spent three years working ... Read More »

Beneficial Ownership: PSC 101 – An Overview of the new People with Significant Control Register from Companies House

In April 2016, Companies House implemented the Register of People with Significant Control (PSC), requiring UK companies, Societates Europaeae (SEs) and Limited Liability Partnerships (LLPs) to hold a register of not only the beneficial owner(s) but also persons and entities with significant control. Companies started filing this information at Companies House from June 2016, with Companies House making the register ... Read More »

Information Company Veda Among Final Suitors for ASIC Registry

Credit information company Veda is among the final bidders for ASIC Registry and has Lazard Australia in its corner. The federal government and adviser Greenhill & Co also received offers on Monday from Canada’s Information Services Corporation – which has retained much bigger countryman Brookfield in an advisory role – and Borealis Infrastructure-owned Teranet, tended to by Macquarie Capital. After ... Read More »

Australia’s Corporate Register About to Be Privatized

Australia’s corporate registry could soon be in private hands as the government edges closer towards privatization. The proposed sale of the Australian Securities and Investments Commission branch, flagged under former Treasurer Joe Hockey, has entered the final stages with the deadline for private bids due on Monday (August 29th). Unions and tax campaigners have entered a last-minute appeal to stop ... Read More »

Onvia Q2 2016 Revenues Up 5%

Subscription revenue up 5% to $5.6 million compared to Q2 2015 Total revenue increased 2% to $6.0 million compared to Q2 2015 Strategic Account Annual Contract Value (ACV) increased 5% to $17.4 million vs. Q2 2015 Annual Contract Value per Client (ACVC) up 10% to $7,590 vs. $6,883 in Q2 2015 Adjusted EBITDA of $439,000 in Q2 2016 compared to $653,000 in Q2 2015 ** Net Loss of $125,000 in Q2 2016 vs. net income of $80,000 in ... Read More »

Russia Launches Electronic Register of Small and Medium-sized Businesses

Russia launched an electronic register of SMEs August 1, 2016. The register is maintained by the Russian Federal Tax Service – the official body registering companies and individual entrepreneurs. According to statistics analysis conducted by the National non-profit organization «Buttress of Russia», about 17 million people work officially in the SME sector; among them 30% are individual entrepreneurs (IP). However, ... Read More »

Encompass and gunnercooke have been shortlisted for the 2016 Turnaround, Restructuring and Insolvency (TRI) Awards, sponsored by Capa

This year, Encompass have been included in the shortlist for the Innovation and Technology Award in a joint nomination with innovative law firm, gunnercooke LLP. gunnercooke started using Encompass Verify back in January as a solution to streamline search processes. This pairing of innovative thinking and search visualisation has led to an increase in productivity throughout the firm. It’s a ... Read More »

UK Ultimate Beneficial Ownership Data Now Available at Arachnys

Arachnys developers have successfully integrated the new beneficial ownership data in the Companies House API from theDeveloper hub into Arachnys.  Whilst this required additional efforts to attain full-integration, the approach paid off as the data is updated live and in real-time. Why is real-time integration important?  Risk and compliance need to move quickly on this: the legislation stipulates that nominal shareholders ... Read More »

Company Data – The Full Picture for Legal Professionals

Following the Panama Papers scandal, introduction of the PSC register, and increasingly complex ownership structures, Chris Bull talks to Roger Carson Roger Carson, co-founder of Encompass Corporation and Wayne Johnson, CEO and Co-Founder, Encompass Corporation, about why getting a grip on company data has been so critical. The leak of the Panama Papers serves as a forceful reminder to corporate ... Read More »

Australia Risk Climate: Only 15% of businesses harness the PPSR to reduce risk – More than 80% make mistakes which may invalidate their rights

More than 80 per cent[1] of businesses that have registered interests on the Personal Properties Securities Register (PPSR) are making serious errors which may limit or invalidate their rights. It is in the best interest of businesses to register their property on the PPSR; however, the overall level of adoption in Australia remains low. Currently, there are only nine million registrations ... Read More »

Standards Australia and MarkLogic Partner in Development of Digital Repository

MarkLogic Corporation, a leading operational and transactional Enterprise NoSQL database provider, and Standards Australia, Australia’s national standards body, have announced a partnership to deliver Standards Australia’s content management system. As the first key component of Standards Australia’s digital transformation program, the repository will form the backbone of Standards Australia’s transition to a digital standards development process. “Throughout the planning of ... Read More »