Magazine - April 2017

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

Cover Story

  • The shock of the new

    Banks and regulators have reacted impressively to fintech’s rise. Incoming rules and Brexit will challenge them further

Leaders

Features

  • Complexity surrounds the prevention of EU CCP failure

    The critical status of clearing houses in the derivatives market is protected by EU-level regulation. But the fact that no single solution has been chosen to tackle potential issues is causing concern.

  • Head-to-head

    IFLR's new feature explores conflicting points of view on EU retail investor protection

  • Deal of the month: Iraq’s first international sovereign bond

    Stepping up The US acted as guarantor of Iraq’s first international sovereign bond, a move which helped the Middle Eastern nation secure capital markets’ support to reduce its public deficit

  • Asia winners

    All the highlights from the night’s winning deals, teams and individuals

  • A new environment

    Anne-Marie Bohan of Matheson surveys the current legal landscape in Ireland for fintech and looks at some of the latest regulatory developments

  • Beyond banking

    Benedikt Maurenbrecher, Daniel Haeberli, Urs Meier and Manuel Baschung review the legal framework for fintech in Switzerland and examine the key regimes at work and proposed rule amendments

  • Regulating innovation

    Peter Hsu and Daniel Flühmann of Bär & Karrer survey new Swiss Federal Council proposals to amend rules to facilitate fintech, and look at some of the pros and cons of the current system

  • Launch of new EU senior non-preferred debt raises questions

    This new asset class may classify as bail-in eligible debt, but teething problems have been felt in several EU jurisdictions

  • MAR’s teething problems analysed

    Nearly a year after the regulation came into force, the market is still adapting to the change in regime

  • Saudi launches new stock exchange for SMEs

    The G20 country has launched a new equities market with lighter listing requirements aimed at boosting and diversifying SME funding in the region

  • Leveraged debt fights back

    Despite a tough year, debt instruments are facing up to challenges with renewed resilience

  • HY bond covenants divide the market

    While US bond issuers would tend to favour flexibility in devising their covenant packages, investors can also fight back

  • Japan’s fintech strategy a work in progress

    Recent amendments to Japan’s banking regulatory framework are expected to boost the profile of fintech companies and enhance the protection of customers using their services

  • Merit of risk retention rules in the spotlight

    Recent US rules were designed to tackle issues identified in some asset-backed security markets. But it’s still uncertain whether keeping an interest in the securities issued will improve their quality

  • Fintech regulation unbalances financial services market

    Regulators globally are faced with the prospect of having to balance compliance and consumer protection with the promotion of new business models and innovation

  • Buying banks in Indonesia

    Imran Muntaz, Michael Cecio Bangun and Miriani Holungo of Imran Muntaz & Co. discuss the rules applicable to foreign ownership of domestic banking and financial institutions

  • Edcon's landmark debt restructuring explained

    The South African retailer's capital reorganisation was complicated by the existence of three tiers of debt, the company’s scale and its national importance

  • Closing conditions

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

News analysis

People and firms

International briefings