Poll: TLAC’s implementation challenges What will be the biggest hurdle to implementing the new loss-absorbency requirement? Vote now
Comesa Competition Commission's rapid evolution The regulator's head of M&A, Willard Mwemba, discusses how the body’s merger review process has evolved since its launch in January 2013
A discusssion with EC's Esteva Mosso The acting deputy director-general for mergers at the EC’s Directorate-General for Competition discusses key cases and its priorities for 2015
Onwards and upwards for Indonesian antitrust Nawir Messi, chairman of Indonesia’s Commission for the Supervision of Business Competition, spoke with IFLR about its growing role
Beware successor liabilities in LatAm Local regulators’ and courts’ approach to successor liabilities means distressed M&A opportunities may not be a sweet as they first appear
CoCo retail restrictions weigh on banks The FCA's continued restrictions on the selling of CoCos is leading banks to follow the spirit rather than the letter of the law on other securities
Indian counsel reveal Bankruptcy Code wishlist The market has outlined what it wants to see in the final rules of the country's mooted bankruptcy regime
ADB hopes Asian issuers will follow green bond path Asian Development Bank priced its first green bond last week in a move that is expected to boost the asset class in the region
Cleary Gottlieb triumphs at Americas Awards The firm celebrated at last night’s ceremony, collecting the prestigious Americas firm of the year. The full list of winners is here
HK Competition Commission announces launch dates The Hong Kong Competition Commission will be ready to start operating this year, according to its chairperson Anna Wu
Why US regulatory consolidation is not a silver bullet Paul Volcker’s proposal to limit regulatory infighting by consolidating the country’s regulators could lower transparency and flexibility
Australian wind farm sets refinancing precedent Hallett Hill’s bond has marked the first time a wind farm in the country has tapped the US private placement market
Aus APLMA facility agreements aligned to LMA The Asia-Pacific Loan Markets Association Australia branch’s new facility agreements could boost offshore participation in the country’s loan markets
Philippines PPPs reach new phase Five years after the country bolstered its public-private-partnership regime, lawyers hope that the framework can now be institutionalised
Singapore's CCS blocks merger for first time On March 16 the Competition Commission of Singapore provisionally blocked a merger for the first time. Lawyers expect the regulator to become more active in this space
BVC head: how Lat Am's exchanges can grow Juan Pablo Córdoba Garcés of Colombia’s securities exchange discusses the progress that has been made in the region and outlines what work still needs to be done
Asean streamlined listings framework explained The Asean Capital Markets Forum’s streamlined review framework to promote listings has been welcomed. But more details around fungibility and takeover codes are needed
Pro-seller M&A structures on the rise Sellers in European M&A deals took on less risk in 2014 as the region saw a major uplift in M&A deal value, according to a study by CMS Cameron McKenna
India tax uncertainty entangles FPIs Optimism around tax clarity in India could be short-lived. A little-noticed exemption in India’s budget means foreign investors could be liable for minimum alternate tax – and it could apply retroactively
SEC ramps up JOBS Act implementation The US Securities and Exchange Commission has stepped up efforts to complete all the rule making tied to the Jumpstart Our Business Startups Act
Ivory Coast sets maturity benchmark for SSA eurobonds Ivory Coast’s second eurobond used legacy collective action clauses and has revealed a gap in the market for longer-dated instruments out of Africa
Chinese deposit insurance to prompt fintech innovation The introduction by China of a deposit insurance scheme is a first step towards liberalising interest rates and allowing bank resolution. It could also spark the evolution of financial technology
Why regulators must adapt to fintech Regulators globally must build relationships with financial technology companies to monitor new market risks
How innovation undermined Puerto Rico's bankruptcy law Creditors’ biggest objections to Puerto Rico’s bankruptcy law are likely to be the elements that the drafters thought would be most appealing
Chinese companies face US litigation risk Chinese companies making acquisitions in the US should expect to face increased litigation risk, according to counsel in both countries
RBI exposure limits to drive financing diversification A discussion paper proposing that banks’ exposure to a single corporate, to connected parties, cannot exceed 25% could prompt companies to tap the local debt capital markets
Report reveals global crack down on corporate crime Corporate criminal liability is proliferating, with a growing number of countries adopting regimes designed to hold companies to account for offences committed by their personnel
CVM addresses market needs Brazil’s regulators are looking to overcome a market slump and increasing regional competition by simplifying rules and streamlining the listing processes
Canada’s RMB hub to lower friction costs The creation of a new renminbi hub in Canada has the potential to lower friction costs for trades between China and companies across the Americas
Collateral increases to spark new US power financing structures New collateral requirements from the country's largest regional transmission organisation could change the dynamics of power plant financing
Indonesia ruling could threaten infrastructure investment A court decision in favour of a citizens’ group has forced investors to question the certainty of infrastructure contracts with government entities
India Exim green bond sets proceeds precedent This is the first offshore offering of its type from the country. And its unusual use of proceeds could facilitate more deals.
Etsy IPO shows rise in US material weakness The number of companies going public with material weaknesses is on the raise but investors don't seem to be concerned
How ABS can capitalise on Europe’s QE The first months of the ECB's asset-backed securities purchase programme has revealed some early execution lessons for those looking to take advantage of the scheme
European IPO pre-marketing faces ‘investor fatigue’ The increasingly early marketing practices featuring on European IPOs could lead to investor backlash if deal volume continues to rise
EM issuers should steer clear of portability The debate surrounding the usefulness of portability clauses in European high-yield continues, with one in-house counsel at IFLR’s Capital Markets Forum insisting it has no place in emerging market corporate-led deals
EC, Parliament keen to act on HQS Securitisation’s inclusion as a priority in the Capital Markets Union green paper is the strongest sign yet that the asset class may receive regulatory relief
Hong Kong's competition crack down Jones Day's Sébastien Evrard and Robert Thomson analyse the HKCC's revised draft guidelines and the new regulator's role in the market
When foreign banks face US investigations You are a small to mid-size bank and you have learned you are the target of a probe by US regulators. Baker & McKenzie's Marnin Michaels, George Clarke and Doug Tween explain what should you do
Americas Women in Business Law Awards 2015 – shortlist announced The shortlist for the fourth annual Euromoney Legal Media Group Americas Wibl Awards has been announced
Allen & Overy wins top award at IFLR’s European ceremony Allen & Overy was named the international firm of the year at last night's 16th annual IFLR European Awards on April 16
Will liquidity shortages cause the next black swan? Trying to pinpoint the next black swan event is, by definition, nearly impossible. But liquidity shortages and market volatility could be possible causes
Habib Bank sale boosts Pakistan’s privatisation plans The government’s sale of its 41.5% stake in Habib Bank reflects increasing investor interest in the frontier market
Spain's corporate governance overhaul The country's new corporate governance code makes incremental improvements to its predecessor. Uría Menéndez's Carlos Franco Duque analyses whether it goes far enough
Alternative lenders: opportunity or threat? Banks have much to gain from the new breed of lenders gaining prominence across Europe. But as McGuireWoods' Marc Isaacs and Alan Holliday explain, they must learn to work with their new competition
China drives banking subsidiarisation debate Jones Day's John Ahern explains why China’s growing role in Europe will test the region’s changing regulatory attitudes towards foreign banks
Term loan B's problems at the border US term loan B-style loans are spreading globally. Linklaters' Danelle Le Cren and Jeff Norton explain why before borrowers and lenders hop on board, they should consider the legal precedents in their local market
Why HK class-actions are a flawed debate Class-action lawsuits are thought to be an important aspect of investor protection. Syren Johnstone, adjunct associate professor at Hong Kong University, explains why the SFC’s powers may be a meaningful alternative
Bain GC on transparency in a private industry Sean Doherty, general counsel at Bain Capital addresses the biggest concerns for the US private equity market
India-focussed funds on the rise Private equity funds and their investors are sensing opportunities in India, prompting a renewed focus on country-specific funds
Was EIR worth the wait? The European Commission’s revised Regulation on Insolvency has been finalised. But Linklaters' Jo Windsor and Richard Hodgson query how effective the changes will be
Rating agencies' views differ on Kaisa default Troubled Chinese property developer Kaisa defaulted this week on its 12.875% notes due 2017 and 8.875% senior notes due 2018. It’s still unclear what this means for bankruptcy in the country
China metals scandal heightens collateral focus Suspected fraud at a Qingdao's metals warehouse has tightened lenders’ focus on KYC checks and due diligence in trade finance transactions
Poll: TLAC’s biggest implementation challenge The FSB’s consultation on total loss-absorbing capacity is the last significant piece of post-crisis reform. But there are concerns about how it will work in practice
Deal of the Month: Habib Bank privatisation The government privatisation bucked the regional trend by using both Reg S and Rule 144A offerings
Inside China: deleveraging the national economy The central government is tackling the national debt crisis through a disciplined approach that focusses on the long-term health of the financial markets
European Capital Markets Forum highlights Market players must tread carefully to capitalise on policymakers’ efforts to revive the regional economy
It’s time regulators listened on Mifid II It’s crunch time for the revised Markets in Financial Instruments Directive. Esma must heed the industry’s concerns over liquidity, costs and access to prevent disaster in 2017
India’s budget to boost ECM Finance minister Arun Jaitley’s proposals could boost the country’s equity capital markets. Here’s how
HK’s incoming competition framework The city-state’s new antitrust regulator released its revised draft guidelines at the end of March and is expected to begin operating later this year
Revised Swiss insolvency law assessed Daniel Hayek, Christina Meyer and Chantal Joris of Prager Dreifuss examine the revised Swiss insolvency law and its implications for debtors and creditors
US yieldcos must evolve to survive Last year yieldcos were heralded as renewable energy’s hottest new financing structure. But the model must adjust
UAE’s expanding financial framework Mark Brown and Alex Ping of Al Tamimi & Company look at recent developments in the UAE legal system affecting the financial sector and the establishment of the Abu Dhabi Global Market
