In July 2008, the Insurance Market Regulation Law (LRMS) broke the monopoly that existed in Costa Rica for more than 80 years, which allowed only one state company to carry out the country´s insurance operations
On March 9 2015, the Malaysian Securities Commission (SC) issued the Guidelines on Unlisted Capital Market Products (Guidelines) under the Lodge and Launch Framework (Framework)
Adrian Chair The Netting of Financial Agreements Act 2015 (Netting Act) came into force on March 30 2015, and clarifies that the netting provisions in a qualified financial agreement for qualified financial transactions are enforceable in accordance with the terms of the agreement. The Netting Act clarifies the long-standing uncertainty on the enforceability of close-out netting arising from laws construed by the market as non-netting friendly. These are: (i) sections 29A and 41 of the Pengurusan Danaharta Nasional Berhad Act 1998 (Danaharta Act) which provide that appointment of a special administrator should not give rise to a termination or acceleration right, and impose a 12-month moratorium during which set-off is restricted except with Danaharta's consent; and (ii) section 346C of the Capital Markets and Services Act 2007 (CMSA), empowering the Securities Commission to require any person to take measures the Commission considers necessary for managing systemic risk.
