SFC calms fears about cooling-off period Hong Kong’s regulator has clarified a cooling-off period for investors in structured products, easing bank concerns that investors could profit from market movements
HK facts statement could clash with Ucits While the market has welcomed Hong Kong’s new Key Facts Statement, the product summary may clash with EU requirements for Ucits
Prudential could promote break fees in Asia Following AIG’s rejection of Prudential’s revised bid for AIA, attention is turning to the termination fees that Prudential will pay if the deal fails
HK reforms could kill SPV-issued notes Structured notes issued by special purpose vehicles could be a thing of the past in Hong Kong, following new regulations issued by the regulator
Language rules will stifle HK structured finance Hong Kong’s new structured finance regulations could make the market more domestic
Germany drops strictest shorting rules The German government has dropped its plans to ban all equity trading that creates short positions, but curbs on naked short selling will remain
Spanish shorting rules could limit investment Spain’s move to demand more disclosure on short positions in all listed companies could discourage hedge funds from investing in the country
Issuers hit by US rating agency rule New rules for rating agencies in the US will add uncertainty to deals, increase costs for issuers and threaten the revival of the structured finance
Clarify German short-selling bill Germany’s latest legislation has calmed fears of a ban on credit and currency derivatives, but naked short sales will still be prohibited
Chinese CDS: stalled but alive Plans to introduce CDS to China have been delayed. But the pilot scheme should be introduced before year end
India promotes short selling India is fine-tuning a platform for the borrowing and lending of stocks. It could be introduced in less than six months
China pushes new competition rules China's SAIC has released three second drafts of rules on monopolistic agreements, abuse of dominance and abuse of administrative powers
Takeover Code: brave but overambitious The UK Takeover Panel’s consultation paper is a “very brave” and “sensible” proposal that doesn’t shy away from controversial debates. But implementing many of the changes could prove difficult
Portugal wants debt short-selling rules Portugal has increased disclosure on short positions in listed shares. The regulator is also keen to extend disclosure to debt, but will wait for guidance from Cesr
Volcker: US will lead global reform US financial reform legislation will pass in two to two-and-a-half weeks according to Paul Volcker
Schapiro reveals circuit breaker timings Only a few hours after the SEC approved a new circuit breaker trial yesterday, Mary Schapiro revealed that the rules may be in place as quickly as today
CFTC wants to limit clearing house exemptions CFTC Chairman Gary Gensler has called for loopholes to be closed to force as many derivatives transactions as possible to go through clearing houses
How regulators want to regulate Regulators want necessary rulemaking to be made easier and would like their own accountability to be broadened
Private equity houses back Volcker Private equity houses are supporting the Volcker Rule because they believe it will make it easier for them to win auctions and invest
Market reacts to FSA break up Abolishing the FSA in favour of the Bank of England will lead to regulatory confusion, and could affect the UK’s influence in Europe-wide initiatives
Osborne's reforms: key quotes Opinion is divided over the FSA’s abolition. Here are some of the initial reactions from Europe’s leading lawyers
Scepticism surrounds model bond covenants A set of model investment-grade bond covenants proposed today by a consortium of industry bodies has been met with scepticism
How foreign funds can launch Ucits As AIFM restrictions loom for fund managers, a growing number of US, Asian and Middle Eastern hedge funds are turning to Ucits vehicles in Europe
Indonesia in-house reveals onshore tips Sampoerna Strategic's Hilton King on how deals really get done in the country
Why securitisation must engage the market A lack of clarity from regulators is holding securitisation back, as is the need for a new breed of sophisticated and engaged investors
First NZ covered bond focuses on separation Bank of New Zealand has issued NZ$425 million of covered bonds – the first covered bonds to be structured in Australasia
Slow securitisation drives NZ covered bonds With the securitisation markets still sluggish, covered bonds are an attractive new source of funding for banks in New Zealand. And Australia could be next
Supreme Court reins in extraterritoriality Foreign-cubed securities class actions can no longer be filed in the US due to a decision in Morrison v National Australia Bank
Europe expects dollar-denominated covered bonds Banks in Europe should prepare to take advantage of the enthusiastic investor base that already exists in the US
Still hope for US covered bonds Congress’ decision not to include covered bonds in its financial reform has been met with disappointment. But many are confident of legislation later this year
Retail concerns over cooling-off period Hong Kong’s plan to introduce a cooling-off period for structured investment products has been welcomed by many. But will it damage the retail market?
Clarity at last for HK structured regulation The new regulatory regime for structured products is taking shape. Here is how it will work in practice
FSA reform threatens UK-Europe ties The break-up of the FSA could cause problems. One of them would be to jeopardise UK engagement in EU reform
Regulatory plans could kill SPV notes Structured notes issued by SPVs could be a thing of the past in Hong Kong, following new regulations issued by the SFC
Was it right to soften Volcker? The majority of US lawyers are pleased that the proprietary trading desks at banks will largely remain unchanged
IFLR1000 partner moves: June 2010 All the latest legal hires and promotions from the IFLR1000 team in Europe, Asia and the Americas
IFLR1000 partner moves: June 2010 All the latest legal hires and promotions from the IFLR1000 team in Europe, Asia and the Americas
How Chinese banks structure limited recourse lending Chinese outbound limited recourse lending has surged and local lenders are structuring diligently
Rein in Asian trustees Asian trustees are increasingly powerful, which can lead to delays when bonds default. Their influence needs to be reduced
Related-party rules will change corporate Italy New rules on related-party transactions could change the structure of Italian companies¹ boards
Scepticism surrounds model bond covenants Market practitioners have reacted with scepticism to a set of model investment-grade bond covenants proposed on June 21 by a consortium of industry bodies
The only way to enforce Leading litigators explain that “arrogant and ignorant” foreigners must adhere to local law if they want to win in court
Bring debt back to life Three regulations are limiting international debt offerings and inhibiting corporate fund raising
Learning local practice Joel Hogarth of O’Melveny & Myers explains the realities of business in Indonesia
To the rescue The increased availability of asset-based financing offers companies a lifeline in the US
How to defend Companies could soon be subject to more unwanted offers. Here’s how the UK deals with hostile bids
How Panama M&A will grow Ricardo M Arango and Andrés N Rubinoff Arias of Fábrega & Fábrega explain why competition and tax changes will affect mergers in Panama
