In publication since 1982, IFLR has become the trusted source for in-house counsel and law firms specialising in financial law.
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Most lawyers believe that Basel Committee are right to allow CoCos to be endorsed in capital rules for systemic banks
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Disclosure rules for foreign private issuers on the Shanghai Stock Exchange will be out soon. In the first of a two-part series on the changes, we highlight what to watch out for
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Over 200 of Europe’s leading female lawyers, politicians and barristers descended on London’s Claridges on June 29 for Euromoney Legal Media Group’s inaugural Women in Business Law Awards.
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The treatment of final terms and summaries in Esma’s Prospectus Directive consultation paper have raised several concerns, and may lead to a rethink of MTN programmes
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The EU Prospectus Directive aims to remove barriers to a Europe-wide capital market, but many of Esma’s proposals will do just the opposite
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Dodd-Frank’s requirement for trade repositories to receive indemnities before sharing information is confusing But an EC official has a solution – don’t enforce the rules
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Esma chairman Steven Maijoor outlines a tougher stance on hedge funds, ETFs and non-European ratings agencies at the ICMA annual general meeting
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Recent US amendments, combined with longstanding UK protections, will lead to more whistleblower activity
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The UK’s new Bribery Act will have a big impact on businesses worldwide. But corporates must not ignore their obligations under existing anti-money laundering laws
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EU Commission initiatives require financial institutions to focus on antitrust rules
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The US securities regulator is making use of new ways to encourage international cooperation with its enforcement efforts. Foreign issuers need to pay attention
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The UN Human Rights Council has declared that business must respect human rights. Banks need to take a good hard look at themselves, before somebody else does
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With hostile takeovers on the rise this year, we reveal the new tactics being used to drive them
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The UK Takeover Code implementation date has been confirmed. But market participants are still ignoring the changes
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Going-private transactions are becoming popular with
US-listed, China-based companies. A pattern now seems to be emerging in the way they are conducted
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Revised legislation may spell the end for schemes of arrangement as the legal mechanism of choice for takeovers of listed Cayman Islands companies
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Hong Kong’s highest court has held that absolute sovereign immunity applies in the territory. Yet the city remains one of the most attractive arbitration venues in Asia
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Recent changes to South Africa’s corporate regime provide new opportunities for foreign companies
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Conversion triggers are open to manipulation, but there are ways of mitigating this risk
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There are ways to reduce the risks of secured parties’ reliance on US account collateral
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The ECJ’s rejection of a derivatives counterparty’s ultra vires argument provides clarification for future cases
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The US has embraced cov-lites once more. And some terms are riskier than pre-crisis
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The LMA has released guidelines on transparency of loan information. However some are concerned it will discourage non-banks from restructuring committees
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Aurelius' ‘amicable resolution’ with the government in a dispute over the state’s buyback scheme has left the market with no more clarity than before the outcome
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Around 200 in-house counsel and private practice lawyers gathered in Mumbai’s ITC Grand Central Hotel last night to see Amarchand Mangaldas scoop Indian firm of the year.
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Citibank has set up a a custody platform in Panama to facilitate foreign investment in locally issued securities
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Speed, shareholder activism and regulatory gaps are behind the upswing in hostile M&A in the US over the past year
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The amendments to the UK Takeover Code will come into effect on September 19, it was announced on Friday
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The new US whistleblower rules could create an “enormous” amount of collateral litigation, according to some counsel
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Over 200 of Europe’s leading female lawyers, politicians and barristers descended on London’s Claridges last night for Euromoney Legal Media Group’s inaugural Women in Business Law Awards
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The European Securities and Markets Authority’s (Esma) Prospectus Directive consultation raises several major concerns in its treatment of final terms and summaries, according to ICMA
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The widening of the FCA's focus to include wholesale market behaviour indicates a more aggressive role than previously expected
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Approval of the US’s latest covered bonds bill by the House Financial Services Committee has been heralded as a crucial step towards restarting the mortgage backed securities
market
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Esma's position on prospectus final terms may lead banks to rethink their MTN programmes altogether
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Debt issuers should move to the new €100k minimum denomination now to allow for future tap issuances under the amended Transparency and Prospectus Directives
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Uncertainty surrounding the retail regime in Europe is putting off issuers from accessing the Euromarket
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India’s lawyers have called for close-out netting provisions in India’s over-the-counter (OTC) derivatives market
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Lenders are showing more interest in limiting the rights of targets in private equity leveraged buyout financings
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The LMA dismisses claims that its transparency guidelines discourage non-banks from restructuring coordination committees
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EU antitrust reforms aim to reduce uncertainty for parties subject to cartel investigations
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In the first action of its kind, the FSA has censured BDO for failings during a reverse takeover
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The proposed Regulation AB II's line item disclosure requirements will create data volumes which will introduce new liabilities and possibly a new industry in the US securitisation market
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A former director general at India’s anti-monopoly watchdog, the Competition Commission of India has criticised the regulator’s efforts in its first-ever case ruling
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Lawyers and investors are concerned about the ambiguity of China's security review process
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The release this week of Mofcom's draft interim Anti-Monopoly Law (AML) measures for public consultation signals the start of a tougher regulatory stance on transgressions
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A pan-European contract law is increasingly likely, but uncertainty surrounds questions of jurisdiction and enforcement
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Panelists at IBA’s annual M&A conference on Wednesday defended the robustness of today’s private equity market, saying it’s unfair to draw comparisons with the levels seen in 2006/2007
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Investor pressure on companies to put capital to use will continue to push the US M&A market, but China is still a missing component
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A senior EC official has suggested that indemnity requirements for swap data repositories might not need to be enforced practically
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Esma has launched a Prospectus Directive consultation. The paper is seeking comments on the technical advice it proposes to give the EC on delegated acts. Read the first reaction here
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The UK FCA will be given a new primary duty to promote competition and the PRA will have a statutory insurance objective according to proposals
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Lawyers say the market has failed to take decisive steps to comply with some of the new takeover rules
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The referral of a US investment fund’s Hong Kong lawsuit to Beijing has prompted calls for China to amend its position on sovereign immunity
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Concern has arisen over how far removed the US Federal Reserve's proposed capital ratios could be from banking practicalities
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The FSA latest drive to subject UK banks to more scrutiny places an increased capital requirement on the banks that have been using the supervisory formula model
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Lenders explain an unconventional approach to leverage equity structuring in an otherwise orthodox project finance deal
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Borrowers are getting more flexibility in US cov-lite deals than before the crisis. But changing market sentiment is dictating availability from week to week
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UK equity lawyers agree with investors’ opposition to aggressive syndication on UK IPOs
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Questions raised over adequacy of due diligence carried out by over-stretched sponsors on Hong Kong IPOs
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US-based municipal bond underwriters are grappling with new restrictions on their transaction roles
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The Indian depositary receipt market’s long term prospects should not be harmed by Sebi's decision to bar conversion of IDRs to shares of a foreign company
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New Loan Market Association guidelines may discourage buy-side participants from joining coordinating committees
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Martin Wheatley, Hong Kong’s outgoing SFC chief executive, has rubbished calls for markets to follow the US lead on regulation
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Loans should not be traded based on borrower confidential information, according to guidelines issued by the Association
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An alternative risk retention structure is circulating among lobbyists of securitisation reform in the US. If adopted it could boost the market
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The resignation of Thailand’s Securities and Exchange Commission chairman will help clarify listed company corporate governance requirements
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A hedge fund’s challenge to Ireland's burden-sharing SLO order could influence how other European countries approach similar schemes
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Project-focused countries should benefit from the Inter-American Development Bank’s new flexible financing facility – the bank’s latest step towards market-based products
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UK lawyers offer tips on UK bribery Act compliance. It could be cheaper than many suspect
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The Loan Market Association will release guidelines on distressed debt trading within days, IFLR can reveal
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Hong Kong risks driving out business when government plans to require mandatory clearing onshore are introduced in 2012, according to one bank's Asia general counsel
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Stringent Sarbanes-Oxley (Sox) requirements will be the biggest challenge to the success of Nasdaq’s recently announced BX venture market
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Deutsche Bank London head Colin Grassie has attacked the US’s derivatives rules under Dodd-Frank, claiming they point to a fundamental misunderstanding of the market
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Foreign banks are unlikely to participate in the Singapore Exchange’s new clearing service for non-deliverable Asian FX forwards.
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The global co-head of derivatives at Mayer Brown believes European derivative reform proposals go too far
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A hedge fund counsel has criticised the Esma proposal to require funds to disclose further information to investors, describing it as “unnecessary"
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A decision by the Second Circuit court to absolve credit rating agencies for investor losses is the latest rebuff to lawmakers’ attempts to clamp down on the agencies
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More disclosure for hedge funds is on its way, while ETFs can expect more scrutiny on collateral and securities lending
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Chairman Steven Maijoor hails temporary product prohibition rules as a key weapon against regulatory arbitrage
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The nominations for this year’s IFLR/Asialaw India Awards have been announced
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European credit ratings issued by non-EU parties will face EU regulatory requirements, says Esma
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New whistleblower rules might fall short of US business community demands, but incentives to use internal reporting programmes are stronger than in the original
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Bankers counsel have dismissed the release of a mystery shopping report by HK's regulators as too vague and ‘soft-paddle’
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Korea’s financial regulator has confirmed that it is widening the scope of businesses able to access the country’s capital markets
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UK insurers will struggle to sell subordinated debt without regard to the prospective Solvency II requirements, even though they are not yet in place