Magazine
October 2016

Magazine Archive

Poll: helping sukuk take off

This month’s poll considers what’s holding Islamic bonds back from the mainstream. Vote now on the homepage
CCPs: concentrated risk sparks debate

Global regulators are focusing on central counterparty clearinghouses, examining whether they can cope with a major default
How Asian OTC clearing regimes compare

In the second part of a three-part series, a senior lawyer at a US investment bank analyses divergent regimes in Hong Kong and Singapore
CoCo protections plan eases investor concerns

No formal guarantee that coupons will be paid has been a frequently raised concern. Statements of intent at the time of issue have failed to provide security
Why mega deals fail

Data suggest deals valued at $10 billion or more are less likely to close. Market participants consider why that may be
What English court ruling means for SAB Miller/AB InBev

The decision that two groups of shareholders should vote separately has increased deal risk, but is in line with corporate governance principles
China’s crackdown on illegal PE funds lacks steam

The securities regulator has taken action, but tailored rules are still needed to reduce the risk to the country's financial system
Korea's P2P plans must be binding

The country's regulator has taken its first steps in protecting its peer-to-peer loan industry. But the approach has been dismissed as lenient
Lobbying tips for a post-Brexit world

Britain’s vote to leave the EU has created a rare opportunity for a legal overhaul. Here’s how to engage with the decision makers effectively
Regulatory divergence could hamper blockchain

The World Economic Forum has released a report on blockchain’s potential to transform financial infrastructure. There are challenges ahead though
GFMA report warns of Basel III and IV risks

A Global Financial Markets Association report has suggested a cost-benefit analysis of existing and proposed regulations
London fights to maintain leading FX role

The city has developed into the main offshore centre for renminbi activity. However, the referendum decision could change this
Poland’s panda bond first explained

It's the first European entity to tap the third-largest bond market in the world, setting the benchmark for others to follow
First pay-for-performance environmental bond reviewed

A new instrument linking financial returns to environmental or social goals could thrive. But securities law conditions need to be met first
Testing times ahead for UK derivatives trading

Brexit could impact bespoke derivatives trading documentation. And the possibility of dual compliance requirements will further add to transaction costs
Euromoney Legal Media Group Asia Women in Business Law Awards 2016: Shortlist announced
Regulatory mismatch threatens China NPL plans

Central and local governments have taken inconsistent approaches over the country's RMB1 trillion debt-to-equity swap policy
DIP financing comes to Colombia

Access to funding for struggling companies is limited in the country, for both regulatory and commercial reasons. But a recent case suggests the tide may be turning
Brexit's implications for merger control

The EU’s one-stop shop principle for concentrations faces an uncertain future following the UK’s Brexit decision. Several scenarios could play out
What the AIFMD passport means for US funds

Managers could benefit from the extension of the current EU passporting regime. Work is underway to develop a suitable regulatory framework
IFLR India M&A forum: key takeaways

In case you missed it, all the highlights from the conference yesterday in Mumbai
Internationalisation of US bank regulation questioned

The Clearing House Association is questioning the automatic internationalisation of US bank rulemaking
FCA's investigations hire sign of change

The appointment of Michael Welch suggests the regulator is looking to learn alternative investigative techniques after recent criticism
Islamic finance boosts cleantech project development

Shariah-compliant funding structures are increasingly being used for renewable energy projects across MENA. Here are the techniques to consider
Reviving EU project bonds

Credit enhancement initiatives are restoring investor confidence, helping boost infrastructure projects
Priips needs structured product tailoring

Repeated requests to delay the RTS have fallen on deaf ears, but Parliament’s rejection means they must be revisited. The issues are seemingly endless
Dell: tracking stock tracked

The company has issued so-called Class V stock to reduce its reliance on debt in connection with the takeover of EMC. Its use has raised some questions
India's bond reforms assessed

The Modi government has attempted to boost the country's corporate debt market but the potency of the new measures is unclear
Editorial: A question of class
Americas: Madness
Asia: Footloose and debt-free
Europe: Not looking forward
CoCo protections ease investor concerns
China’s ABS default prompts NPL securitisation fears
Regulatory divergence could hamper blockchain
Why mega deals fail
China’s crackdown on illegal PE funds lacks steam
How to comply with the UK’s new whistleblower rules
DEAL: EIB test drives new tool on Germany’s A8 motorway
Korea’s P2P plans must be binding
GFMA warns of Basel III and IV risks
Americas
Asia/Pacific
Europe Middle East and Africa
POLL: Sukuk adoption hurdles decrypted

Islamic bonds benefit buyside and issuers but are hard to find in western capital markets. Several things need to be done to kickstart the global market
Deal of the month: Poland looks east

The nation is the first European entity to tap the third-largest bond market in the world, setting the benchmark for others to follow
Inside China: Ups and downs in IPO markets

China is considering reforming its volatile IPO market. But the 2015 market crash has made the nation more cautious
How to jumpstart sovereign debt

The risk of public defaults is on the rise, boosted by persistently low interest rates and a distinct lack of fiscal policy. However, the preventative measures and restructuring tools that have been used historically need to improve to avoid disaster
Uncertainty surrounds MAR’s inside information disclosure regime

The EU’s delay of disclosure of inside information framework is similar to the one implemented in 2003. But its applicability in practice has raised some questions
Cleantech funding and Shariah law

Islamic finance structures are increasingly being used for renewable energy projects across MENA. Here are the techniques to consider
NY participation agreements in the spotlight

Loan asset holders are faced with risks when a distressed lender can’t meet its funding obligations. But there are ways to mitigate the dangers
Reviving EU project bonds

Credit enhancement initiatives are restoring investor confidence, and helping boost infrastructure projects
Brazil: Foreign documents
Colombia: Virtual currency regulation
Costa Rica: Corporate governance overhaul
Cyprus: Client identity checks
Guatemala: New financing legislation
Indonesia: Mandatory tender offer rules
Ireland: The Credit Reporting Act
Japan: Banking group reform
Macau: Smoke-free casinos
Panama: Free trade zones
Philippines: Facilitating creditor-debtor dealings
Slovak Republic: Litigation reforms
Switzerland: Reporting money laundering
Vietnam: Overtime work in Vietnam
Closing conditions

The lighter side of the past month in the world of financial law
EU insolvency harmonisation gathers steam

A proposed directive is due at the end of next month, introducing minimum standards across four key areas of insolvency proceedings
Chilean Dip financing needs push

Despite a solid legal framework, the restructuring tool has barely been used in the country
India FDI rules vexing foreign investors

The country's foreign investment regime is increasingly taking the form of difficult conditions rather than a simple approval requirement
CC’s Bates: Brexit to create regulatory competition

Brexit will create fragmented financial markets, with the UK and EU also likely to become regulatory competitors, according to speakers at a recent Sifma event in New York

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