Euronext hit with record fine for HFT France’s securities regulator has slapped a €5 million fine on the national stock exchange and a high frequency trading firm in relation to market manipulation
Asia regulators call for new harmonisation debate Rulemakers in the region want a common regulatory infrastructure rather than simply importing Western regimes
Cameroon eurobond first unlocks funding dimension The Central African state is latest in the region to issue, and will do so again
AIFMD uncertainty lingers over passporting, NPPRs Non-EU fund managers are struggling to navigate both the passporting roadmap under the directive and its private placement workaround
Pfizer-Allergan reignites US inversion debate The controversial megamerger has sparked speculation over US tax authorities' next move to clamp down on the structure
Europe’s first cyber law will sting The directive is tipped to create a patchwork of regimes, increasing the ways companies can be caught
POLL: growing the panda bond market Which event has been the biggest boost to foreigners making RMB-denominated issuances onshore? Vote now
Currency reforms will boost Argentina's capital markets The country's central bank has issued amendments to its system of exchange rate controls in a move that will boost local capital markets
Dodd-Frank: a year in review Counsel assess the legislation's milestones in 2015 and the slim chance of reforms next year
Myanmar restriction may impede new forex licensing Limits on the next round of foreign bank licensing due early next year have confused market participants
New buyback reveals Iran’s independent oil ambitions Changes to the model oil & gas contract ramp up foreign investors’ responsibilities to transfer know-how and technology, signalling Tehran's desire to build a standalone sector
Cyprus reforms tackle bad debt surplus The package is intended to tacke the country's non-performing loans, which have jumped 39% in five years following the infamous IMF bailout
EU airline FDI caps are ineffective, outdated The overhaul of Europe’s struggling airline industry is long overdue, but it faces many hurdles to success
US IPO drivers for 2016 Tech listings, late-stage investors and bought deals are the major determinants of this year's equity markets
Hostile M&A at a crossroad The structure could rise in 2016, as last year’s mega deals are replaced by consolidations. But increasingly complex antitrust regimes may hamper the tactic
GSE reforms called for to boost PLS Industry representatives are pushing to boost private label securities as rulemaking for government sponsored enterprises rises up the regulatory agenda
New UK transparency rules enable activists The disclosure requirements for unlisted companies stem from a G20 initiative, but the changes could have unintended consequences
Japan’s corporate gov reforms lack teeth Only 10% of 2,500 mainboard-listed companies have fully complied with the country's first corporate governance code, introduced last June
Africa PE must seize platform strategies As fund volumes continue to soar, GPs must pursue new tactics to stop the accumulation of excessive dry powder
Mifid II: excess of ambition, lack of action Akin Gump’s Christopher Leonard and Chris Poon outline why European legislators’ desire for reform has outpaced their ability to implement rules
China's credit assessment overhaul masks loopholes Counsel have high hopes for the proposed changes but stress that a host of other issues need to be ironed out, particularly surrounding wealth management
India's first aerospace joint venture The country has welcomed its first aerospace joint venture under a revised FDI policy, as it celebrates 25 years of economic liberalisation
The ABS blueprint to power Africa An impact investor-backed securitisation of off-grid solar panels in Kenya could present another way to fight the continent's power shortage
IFLR Asia Awards 2016: shortlist revealed The nominations for this year's ceremony are available now. The winners will be announced at Hong Kong's Island Shangri-La on March 3
Penalty clauses redefined by the English courts Bracewell & Giuliani’s Alastair Young, Darren Spalding and Paige Bennett explain why the pro-freedom of contract interpretation is at odds with the judiciary in Australia and the US
Europe’s PE waterfall becomes global standard In a more LP-centric world, European carry has become the industry benchmark for all funds. Augentius's Brendan Tyne outlines why
Looming implementation drives US ABS volumes As risk retention rules draw closer, 2016 could be the biggest year in history for asset-backed securities
Experiments in DIP financing in Mexico and Brazil Struggling debtors have been testing the countries' new restructuring regimes. Paul Hastings’ Joy Gallup explains how debtor-in-possession funding is their favoured tool
Africa: no longer a frontier The continent’s bond markets have matured rapidly over the past three years. Here, White & Case lawyers' set-out why hybrid-style instruments could be their next incarnation
Have SOAs reached their limit? Struggling foreign companies keep finding new ways to restructure in England. But as Milbank's Matthew Czyzyk explains, their tactics are facing tougher scrutiny by the courts
Mega-deal cycle to continue in 2016 Counsel in the US believe last year's large-cap M&A trend is not disappearing any time soon
China A-share deregulation won’t boost mainland traffic The country's changes coincide with Hong Kong’s tightening of IPO rules. But they are unlikely to lead to more listings in the PRC
Poll: legal pitfalls in Iran What are the biggest risks for banks and corporates taking advantage of the January 16 lifting of sanctions? Vote now
POLL: helping panda bonds grow Further regulatory guidance is needed to unleash China’s new market. In the meantime, counsel are busy speculating over its biggest driving force to-date
Inside China: Circuit-breaker failure Beijing’s latest attempt at propping up the country’s plummeting stock markets lasted just seven days. Here's how it played out
Fixing Europe’s restructuring regime The EU's fragmented insolvency rules have many critics. But there's little consensus on whether the goal should be a single market, minimum standards, or something in between
Qatar: Insurers and arbitration clauses Many insurance policies contain clauses that require disputes to be resolved by arbitration, rather than through the courts
