The Law Counsel has represented the Chittagong Stock Exchange and a number of securities firms in proceedings before the courts. The firm also provides advice to foreign companies in relation to the offer of stock options to employees of their local subsidiaries in Bangladesh.Recently, the firm successfully represented a stock broker in the High Court Division in challenging the constitutionality of a directive issued by the Bangladesh Securities Exchange Commission. The matter is now pending in the country’s apex court.
The firm also has a special knowledge and experience of advising on Employee Share Programmes of foreign companies. Over the course of the last few years a number of foreign companies have expressed the intention of offering employees of their local subsidiaries performance based awards in the form of shares or cash payments. The firm has been able to draw upon its securities law experience to advise foreign companies such as Walmart, Siemens, Wells Fargo, Philip Morris International, Eli Lilly and Company on the implementation of employee share plans upon being instructed through Baker & McKenzie LLP.
Recently the firm advised Uber Technologies Inc regarding income tax withholdings and also the permissibility of offering Restricted Stock Units (RSUs) to Uber employees in Bangladesh.