Featured

15
Feb

Derivatives in Italy

By: SMAFassociates
Category: 

The main tools of DERIVATIVES market in Italy are entering into and executing an ISDA Master Agreement (and the Confirmations under such Master Agreement, the “ISDA agreement”) and a GMRA Master agreement (the “GMRA agreement”) and to perform its obligations under such agreements.

This note will be over the two species of contractual netting agreement and about:

- The law governing the netting agreements and their transactions (and/or confirmations) and
- The netting arrangements and the law of the jurisdiction.

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17
Jan

"A" as Abuse of Right

By: SMAFassociates
Category: 

A legal term per day: A as "Abuse of right". In Italian "abuso del diritto", in French "abus de droit", in Spanish "abuso de derecho".
The term is commonly referred to the exercise of a right in order to harm a third party, disregarding the social duties, only to cause annoyance, harm, or injury to another.

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25
Nov

Russian Central Bank 2018

By: SMAFassociates
Category: 

The Russian Central Bank unexpectedly raised interest rates on September 14, 2018. The decision was taken for the first time since 2014 and aimed to offset the risk of inflation associated with a currency, such as the ruble, which is now falling.
The Official Discount Rate was raised to 7.5% from 7.25%, thereby circumventing the forecasts of the same Russian economists who considered out of discussione a Bank of Russia's economic policy maneuver.

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26
Oct

Private Equity: Jargon and Hermeneutics

By: SMAFassociates

Private Equity is the field where lawyers fight on interpretation of contracts.
- Our art is doing such construction of legal expressions. We follow the Literalism (literal text of the Contract): Just read the words: All answers found in the wording, no external sources as support. The Advantage is removing judge's predisposition: you follow the contract, not what the judge wants the contract to say. Problems with Literalism are Ambiguity, Lack of precision in language itself, Words having different meanings and contexts.

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09
Mar

"Distributism", a culture for Small Law Firms

By: SMAFassociates

PROMOTION OF ARTISANS

Our blog intends to promote Distributism in consultancy, that supports a society of artisans, of boutique firms and their culture.

Distributism (also known as distributionism or distributivism is an economic ideology that developed in Europe in the late 19th and early 20th century based upon the principles of Catholic social teaching, especially the teachings of Pope Leo XIII in his encyclical Rerum novarum and Pope Pius XI in Quadragesimo anno.

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02
Mar

IT Trends

By: SMAFassociates
Category: 

Usually nobody can predict stock market trends, due to almost infinite number of affecting variables and given that the finance market is intermediate between a deterministic and random system, and that you cannot model the noise, - then it is the ability to take money away when the greatest opportunity presents itself, which should be focused.

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