Magazine - November 2016

In publication since 1982, IFLR has become the trusted source for in-house counsel and law firms specialising in financial law.

Cover Story

  • The disclosure dilemma

    The EU’s latest prospectus rules are gathering steam. But uncertainty continues to surround summaries, risk factors and retail denominations



  • POLL: Identifying single market benefits

    The city of London is thinking ahead to what post-Brexit Britain will look like, and trying to ascertain which EU principle it would be best to keep to remain at the forefront of the global financial sector

  • Deal of the month: Unchartered territory

    The World Bank’s inclusion of RMB in its first issuance in China may have triggered investor interest but has also raised questions as to the future of the panda bond market

  • China opens doors to local bond market

    The country has given access to its credit market to foreign financial institutions, a move it hopes will boost its position on the global scene

  • Beyond borders

    Finra’s approval requirement: considerations for non-US acquirers of US broker-dealers

  • Dual class stocks not always the way forward

    The strategy of creating two classes of stock with different voting rights attached has been deemed by some as poor corporate governance. The reality is more nuanced

  • Navigating challenging waters

    India has moved to attract more debt capital but lingering issues mean that investments need careful structuring

  • Israel LBOs face practical challenges

    The market is growing but local limitations are hampering its companies’ ability to provide financial assistance for their own acquisitions

  • Stressed tests

    Concerns have emerged regarding EU stress tests, notably the fact that they are being used as the principal and even exclusive tool to determine a bank’s financial viability

  • South Africa looks into UK trust structure

    The country restricts the use of some UK security law principles but is looking at ways to harmonise its approach to syndicated lending

  • Natural resource deal financing needs proper attention

    Project finance deals involving commodities require constant risk mitigation and management. Good structuring from the outset is key

  • Mexican insolvency laws critiqued

    The impact of the 2014 reforms to the country’s outdated bankruptcy framework has been called into question by recent court decisions

  • Share capital increase mechanisms unpicked

    Shareholder loans which are converted into equity can be risky for both the funded subsidiary and the shareholders. Turkish law provides one illustration

  • Social responsibility reporting in the spotlight

    Environmental, social, and economic development disclosure plays an increasingly important role in a company’s long-term strategy and reputation

  • Closing conditions

    The lighter side of the past month in the world of financial law

News analysis

People and firms

International briefings