IFLR Middle East awards: international and in-house shortlists revealed The nominations for the international and in-house categories of this year's IFLR Middle East awards have been announced
Why money market funds are still on edge Tougher regulation of money market mutual funds was removed from the SEC's agenda last week after chairman Schapiro was unable to solicit majority support for the proposed reform. But another regulator could reshape the multitrillion-dollar market
France’s new refinancing market explained Deal counsel analyse the French deal that revived the use of mortgage bonds and created a new refinancing market just in time to help tackle Europe’s looming debt maturity wall
Laos rights issue first analysed EDL-Gen’s $200 million rights issuance was a first for the nascent Laos Securities Exchange. But deal counsel had to first overcome complexities relating to the company’s shares in four IPPs
Why Sebi’s primary market reforms disappoint The Securities and Exchange Board of India this month announced a raft of primary market reforms in a bid to facilitate retail investment and capital raising. But lawyers are unconvinced the changes will be effective
ASAS shariah board accreditation set to fail, says Islamic scholars Kuala Lumpur’s Association of Islamic Scholars is set to introduce shariah board accreditation processes this year, in a bid to address concerns over the integrity of shariah scholars. Here’s why scholars believe the move is set to fail
How Standard Chartered changes the rules for foreign banks The New York Department of Financial Services’ order against a Standard Chartered subsidiary looks set to over-turn the rules for foreign banks
Exclusive: Russian loan standardisation to debut in 2013 A set of standardised loan documents governed by Russian-law will be rolled out to banks from next year, IFLR can reveal
How China state secrecy law challenges Hong Kong independence Legal actions against Ernst & Young have called the one country, two systems approach into question and may test Hong Kong’s independence. Here's why
Why Dodd Frank extraterritoriality is fundamentally flawed Dodd Frank's proposed swap rules could result in a shut-out of US persons in Asia’s OTC market. Here's why
Would US listing rules save Europe ECM? Lawyers explain why European and UK equity capital markets must adopt a US-style regulatory regime to remain competitive
US conditions peak for tax-free M&A The US M&A market is primed for use of a bespoke, tax-free sales structure known as a reverse morris trust
Women on boards quota to threaten Europe multinationals? The EC proposal to force 40% female participation on public company boards faces a catalogue of criticism. The biggest is that it makes Europe a less attractive place to do business
Where AIFMD level two measures will fall short Participants in Europe’s alternative fund management industry have urged international regulators to adopt a more coordinated and considered approach to market supervision
Mofcom’s VIE mention overhyped Mofcom's mention of the variable interest equity structure in its recent Wal-Mart review is important. But its implications have been exaggerated
IFLR Middle East awards – outstanding contribution award winner announced The winner of the outstanding contribution award for this year's IFLR Middle East awards has been announced
How Australia hybrid first clarifies Basel III implementation The first Basel III-compliant Tier 1 hybrid bond to be issued by an Australian bank acts as a regulatory test case on Basel III implementation in the country
Liikanen banking reform - survey Is a combined Volcker/Vickers approach right for Europe's big banks?
Shadow banking to dominate in Latam projects Toronto-based HudBay Minerals’ $1.5 billion Peruvian copper mine investment signals a major shift in global project finance. Here’s why
Turkish sukuk debut to open new Islamic finance market Here's why Turkey’s first-ever sukuk should prompt a wave of copycat deals
BBVA's Peruvian Eurobond issuance explained BBVA Banco Continental’s direct issuance last month of $500 billion senior unsecured Eurobonds signals a new trend in Peruvian bond issuances. Here’s why
BNP Paribas: how to save European securitisation BNP Paribas’ global head of securitisation opens up on Europe's new Prime Collateralised Securities scheme and the regulatory fires hindering market growth
Myanmar's latest draft investment law welcomed Myanmar’s Parliament last week passed the country’s long-awaited foreign investment law. Here’s why counsel expect the latest draft to work
Myanmar investment: US and EU reporting requirements explained Although Myanmar’s Parliament passed a foreign investment law last week, multinationals may find that there are investment hurdles closer to home in the US’ reporting requirements and the EU’s recently lifted sanctions
Why small banks need Volcker rule amendments Counsel explain why Volcker will cause a greater competitive disadvantage for small banks, even if regulators make improvements to the rule
Liikanen poll: Volcker/Vickers hybrid wrong for Europe’s banks Ahead of the Liikanen review, IFLR questioned market participants as to whether a combined Volcker/Vickers approach was right for Europe’s biggest banks
Why CRA3 must be scrapped Santander Global Banking & Markets’ securitisation head, Afme’s securitisation division managing director, and Mayer Brown’s Kevin Hawken spoke with IFLR on the most damaging aspects of the rules
Brazil’s private loan first to prompt project finance spike How Bank of America’s loan and guarantee agreement to the state of Mato Grosso in west-central Brazil will radically change Latin American and Brazilian project finance
Is MIST the next BRIC? The latest emerging markets acronym is based on economics. But the legal frameworks of its constituent countries need equal attention
Sahabank/Habubank merger The deal could be the first sign of recovery for Vietnam’s struggling banking sector
The Middle East shortlist Shearman & Sterling’s Philip Dundas wins the inaugural outstanding achievement award
Which city is the financial hub of the future? London, New York and Hong Kong might be the money centres of today, but they each face a precarious future. With the global economic hierarchy under threat, which city will prevail?
Best of the rest Be it London, Hong Kong or New York that emerges as the financial hub of the future, it should closely watch the rise of these second-tier money centres
The challenges faced by African issuers For issuers from some jurisdictions, raising funds means confronting and overcoming investors’ inaccurate presumptions
Why China needs an expanded bond market, now A combination of economic and regulatory factors make it imperative that China’s bond market develops into a viable source of domestic funding
New bond opportunities for Italian corporates Capital raising reforms are set to open the bond market for unlisted Italian corporates. Here’s what is now possible
The restructure of Europe’s first CMBS default Europe’s first CMBS to default at maturity has been restructured. Here’s how to resolve the next defaults
Rule 12g3-2(b): US style home country disclosure The financial crisis had started when the revamp of rule 12g3-2(b) was finalised. How has the market responded?
Money laundering risks in the UAE There are new issues to be considered by banks and senior management regarding money laundering risks in the UAE
Peru’s novel project finance model Construction risk in Peruvian PPPs is being minimised through a unique financing structure. Here’s how it works
The crucial differences between UK and US loan covenants As European borrowers continue to tap US banks, it’s crucial to know the differences between New York and English-law facilities
UK deferred prosecution agreements: how useful will they be? UK prosecutors are set to receive a new enforcement mechanism, but its usefulness should not be overstated
The self-reporting dilemma Self-reporting is an option – not an obligation – in many jurisdictions. And the benefits of making a disclosure are far from guaranteed
The corporate governance issues changing Asian funds As Asia’s hedge funds become more global, they face greater investor demands. Here’s why corporate governance concerns are proving key
When a UK agreement-to-agree is enforceable A recent UK Court of Appeal ruling looks at the enforcement of so-called agreements to agree
What the new Competition and Markets Authority means for the UK market James Aitken and Timothy Lamb of Freshfields Bruckhaus Deringer explain the UK’s competition reforms.
The issues at stake under Turkey’s new leniency programme Turkey is adopting a leniency program within its antitrust regime. Gönenç Gürkaynak of ELIG explains the issues at stake for applicants
The recent cases that will change Taiwanese competition Stephen Wu, Yvonne Hsieh and Wei-Han Wu of Lee and Li explain how recent cases and regulations will affect Taiwanese competition
Challenges lie ahead for Malaysia’s new competition commission Malaysia’s new competition regime remains untested. The commission will face challenges, according to Loong Caesar and Cara Yasmin of Raslan Loong
Japan’s new caselaw on dominant position bargaining Etsuko Hara and Yoshiharu Usuki of Anderson Mori & Tomotsune explain how three cases have altered the landscape for dominant bargaining positions in Japan
Latest Indian merger control trends analysed Cyril Shroff and Nisha Kaur Uberoi of Amarchand & Mangaldas & Suresh A Shroff & Co give an overview of the key trends in merger control in India
Pitfalls under Hong Kong’s new Competition Ordinance After much opposition, Hong Kong finally has a Competition Ordinance. Donald Hess and Sébastien Evrard of Jones Day explain the pitfalls for companies
Ecuador’s new competition legislation must be handled with care Ecuador’s new competition legislation must be handled with care. Luis Marín Tobar-Subía of Pérez Bustamante & Ponce explains why
The Supreme Court decision changing Chinese anti-monopoly cases Judicial interpretation of the Supreme Court is having a significant impact on Chinese anti-monopoly cases, Susan Ning and Hazel Yin of King & Wood Mallesons explain how
Uncertainties linger under Brazil’s pre-merger regime The new Brazilian antitrust system is an improvement for the country. But Andrés Staibano and Jose Ricardo Martins of Peixoto e Cury Advogados explain that the implementation has raised more questions
The OFT’s four steps to compliance The UK Office of Fair Trading’s four-step approach to compliance is explained by Jackie Holland, Senior Director of the agency’s Policy Group
Changing the rules of the game in business in Turkey Dr Ismail G Esin and Duygu Turgut of Baker & McKenzie/Esin Attorney Partnership in Istanbul describe the impact of recent changes to Turkey’s commercial law
The impact of legal and market developments in Switzerland on private equity investment Dr Christoph Neeracher and Dr Raoul Stocker of Bär & Karrer assess the impact of recent legal and market developments in Switzerland, and future prospects
India’s balance of PE regulation and investor friendliness L Badrinarayanan and Karan Talwar of Lakshmikumaran & Sridharan discuss the interplay of Indian regulations and investor friendliness
How Guernsey is helping PE managers Private equity managers are focused on the three Rs: regulation, risk and refocus. Here’s how Guernsey is able to assist
What the future holds for China’s VIE Yingxi Fu-Tomlinson and Niping Wu of Kaye Scholer ask what the future holds for the variable interest entity in China following the New Oriental and Walmart decisions
KKR’s guide to responsible investment KKR’s European corporate affairs director, Ludo Bammens, and sustainability head Elizabeth Seeger on the ingredients for success in a changing market
Euro exit and redomination risk: a UK perspective Julian Craughan, Tauhid Ijaz and David Palmer of Hogan Lovells in London on redenomination risk arising from an EU member state’s exit from the euro
How recent legislative proposals impact South Korean structured finance Young-Hee Jo of Shin & Kim on the impact of new legislative proposals on Korea’s sophisticated securitisation and structured finance market
South Africa’s developing financial markets regulation analysed Clinton van Loggerenberg of Edward Nathan Sonnenbergs in South Africa looks at the country’s developing financial market legislation
Risks to watch under Panamanian future flow securitisation Ricardo M Arango of Arias Fábrega & Fábrega outlines potential legal risks when structuring future flow securitisations of credits in Panama
Careful consideration needed for Japanese-law securitisations Tetsuya Itoh of Anderson Mori & Tomotsune examines the factors to consider when choosing a Japanese-law vehicle for a securitisation transaction
Cayman SPVs: making a good product better Alasdair Robertson and Mark Matthews of Maples and Calder outline the key features and benefits of a Cayman Islands special purpose vehicle
How to save European securitisation BNP Paribas’ global head of securitisation on the regulations holding back market growth
Why CRA3 must be scrapped Unnecessary, counterproductive and politically driven. The experts make a case against the EU’s latest round of proposed rating agency reforms
Harnessing the wind of Mexian renewables Basham Ringe & Correa’s Juan Carlos Serra discusses developments in Mexico’s renewable energy sector
The Dominican Republic as investment jewel of the Caribbean Luis R Pellerano of Pellerano & Herrera on the features that make the Dominican Republic such an attractive regional investment destination
The challenges and opportunities of Costa Rica’s insurance market Neftalí Garro of BLP Abogados in San José examines the key challenges for investors in the liberalising Costa Rican insurance market
Towards international standards in financial regulation in Colombia Claudia Barrero and Carolina Ramirez of prietocarrizosa in Colombia look at challenges and opportunities arising from the overhaul of Colombia’s financial regulations
Preserving Brazil’s attractiveness as a high-return destination Antonio C Mazzuco and Byung S Hong, of Madrona Hong Mazzuco Brandão examine the effect on investment of recent developments in Brazilian investment regulation
Foreign exchange controls in Argentina Fernanda López Abramovich and Jorge I Mayora of Allende & Brea in Buenos Aires look at the effect of tighter foreign exchange regulations on investment in Argentina
Spanish holding companies for Chinese outbound investment Carlos Duran of Uría Menéndez on the advantages of using Spanish holding companies for Chinese investments in Latin America
