China FX quota system hampered by uncertainty The country appears to have loosened its grip on capital outflows amid heightened foreign exchange concerns
DEAL: Detsky Mir IPO Russia’s first major share sale in three years has passed the litmus test with an overwhelmingly international order book
Green sukuk are coming The two asset classes are a perfect fit, but the appetite of Islamic investors for risk and innovation is limited
DEAL: Société Générale’s Swedish krona bail-in bond The French G-Sib's second tier 3 issuance was carried in the Nordic currency after demand from investors in the region
Market reacts to FCA IPO reform The UK regulator wants more information, earlier on. Market participants say any changes must be balanced with current IPO timetables and execution risk management
EC’s Bohan: Brexit won’t derail the CMU The Commission’s head of unit said last week that while the referendum result complicates the process of building an EU-wide capital market, it’s not the end
IFLR Asia M&A Forum day one: key takeaways In case you missed it, all the highlights from day one of this two-day event in Hong Kong
Pemex issues largest euro-denominated bond from an emerging country Petróleos Mexicano's multi-tranche bond is the largest euro-denominated issuance from an emerging country on record
India’s new payment banks need a regulatory boost The introduction of digital payments on a national scale can only be successful with the government's support
GIB privatisation further complicated by SDCL challenge The renewables investor has been put up for sale by the UK government. But the deal has been dogged with difficulties from the start
Asia awards 2017: winners revealed Linklaters scooped international law firm of the year at the ceremony on March 2. The full list of winners is here
IFLR Asia M&A Forum day two: key takeaways Highlights from day two of last week's event, featuring tech, corruption, strategic exits and more
Senior Managers’ Regime teething problems revealed The UK framework is 12 months old this week, but questions remain over regulatory references and handover certificates
Utility company takeover sets UK scheme precedent A judge’s decision to disregard shareholder votes cast against the interests of the class reinforces the legal certainty of schemes
Regulators restrict distressed investment in Asia A lack of creditor rights, political backlash and direct policy have all contributed to foreign LPs backing away from such deals
Trulia pushes M&A litigation into federal courts Delaware’s revamped approach has led to a spike in cases being brought to federal and other state courts
Regulatory interference renders arbitration a costly affair Enforcing overseas arbitral awards in a local court can be both expensive and futile, according to panellists at IFLR's Asia M&A Forum in Hong Kong last week
How to build a local green bond market Policy support is virtually essential, according to speakers at an industry event. Governments could learn a lot from China
POLL: preventing EU clearing house failures Even though the worst-case scenario has never happened, preparation and prevention are key for EU CCPs
Japan’s public debt policy threatened by volatile yields The country’s careful monetary planning has been impacted by a global rise in inflation and prices
Morocco opens up to Islamic banking Efforts to introduce shariah-compliant banking in the north African country have been a long time coming. It chose a controlled opening of the market as its strategy
DEAL: Banks Renewables wind farm financing The £210 million deal has combined commercial bank debt with institutional investment for the first time on a project that’s not yet operational
Competition builds for blockchain-based software solution A new US industry initiative is vying for position in the growing smart contract sector
Anti-corruption high on global banks' agenda Financial institutions are warning foreign businesses operating in India not to fall short of anti-bribery rules
DEAL: first IPO on Saudi’s parallel market The Nomu, similar to London’s AIM, is the first secondary stock market in the Gulf. It’s further proof of the kingdom’s commitment to economic diversification
Capital controls hit China panda bonds The country's onshore RMB bond market hasn’t hosted a truly foreign issuer since last November. Regulatory policy could be to blame
DEAL: Vietnam’s first internationally-marketed IPO The country has witnessed an ECM breakthrough, but regulatory constraints led to a long listing process
Asian clients will leave Europe after Mifid II The requirement that trading venues must report on behalf of all stakeholders - even if they’re not subject to the rules - is likely to cause an exodus
Fintech could solve Sharia contracts' puzzles Panellists at the Finnovasia 2017 Conference in Kuala Lumpur explained how Islamic finance could benefit from the nascent industry
Independent research providers win at Mifid II As both banks and asset managers try to understand the rules, boutique firms are capitalising on the opportunity of a more level playing field
What Brexit means for M&A John Fingleton, CEO of advisory firm Fingleton Associates, examines some of the key trends in the UK M&A market over 2016
Chinese outbound M&A comes of age UBS' head of M&A in Hong Kong Samson Lo surveys the landscape for corporates in Southeast Asia, including how Chinese buyers are changing their approach
The Diebold/Wincor Nixdorf merger explained Mary Swann, executive corporate counsel and assistant corporate secretary of Diebold Nixdorf, discusses the seminal 2016 deal
Edcon's landmark debt restructuring explained The South African retailer's capital reorganisation was complicated by the existence of three tiers of debt, the company’s scale and its national importance
Uncertainty surrounds Trump’s FCPA approach He has in the past dismissed it, but lawyers say scrapping the far-reaching legislation is unlikely to be a high priority
China’s new cyber law could impede data transfers A requirement to keep all personal and critical data onshore could pose some difficulties for companies doing business in the PRC
UK bankers still struggle with conduct A third of staff at banks said they see a conflict between their employers' stated values and the way business is done – but there are some positives
DEAL: Europe’s first TLAC bond Bank of America’s €4 billion deal has revealed a transatlantic divergence over global regulation
Complexity surrounds the prevention of EU CCP failure The critical status of clearing houses in the derivatives market is protected by EU-level regulation. But the fact that no single solution has been chosen to tackle potential issues is causing concern.
Deal of the month: Iraq’s first international sovereign bond Stepping up The US acted as guarantor of Iraq’s first international sovereign bond, a move which helped the Middle Eastern nation secure capital markets’ support to reduce its public deficit
The shock of the new Banks and regulators have reacted impressively to fintech’s rise. Incoming rules and Brexit will challenge them further
A new environment Anne-Marie Bohan of Matheson surveys the current legal landscape in Ireland for fintech and looks at some of the latest regulatory developments
Beyond banking Benedikt Maurenbrecher, Daniel Haeberli, Urs Meier and Manuel Baschung review the legal framework for fintech in Switzerland and examine the key regimes at work and proposed rule amendments
Regulating innovation Peter Hsu and Daniel Flühmann of Bär & Karrer survey new Swiss Federal Council proposals to amend rules to facilitate fintech, and look at some of the pros and cons of the current system
Launch of new EU senior non-preferred debt raises questions This new asset class may classify as bail-in eligible debt, but teething problems have been felt in several EU jurisdictions
MAR’s teething problems analysed Nearly a year after the regulation came into force, the market is still adapting to the change in regime
Saudi launches new stock exchange for SMEs The G20 country has launched a new equities market with lighter listing requirements aimed at boosting and diversifying SME funding in the region
Leveraged debt fights back Despite a tough year, debt instruments are facing up to challenges with renewed resilience
HY bond covenants divide the market While US bond issuers would tend to favour flexibility in devising their covenant packages, investors can also fight back
Japan’s fintech strategy a work in progress Recent amendments to Japan’s banking regulatory framework are expected to boost the profile of fintech companies and enhance the protection of customers using their services
Merit of risk retention rules in the spotlight Recent US rules were designed to tackle issues identified in some asset-backed security markets. But it’s still uncertain whether keeping an interest in the securities issued will improve their quality
Fintech regulation unbalances financial services market Regulators globally are faced with the prospect of having to balance compliance and consumer protection with the promotion of new business models and innovation
Buying banks in Indonesia Imran Muntaz, Michael Cecio Bangun and Miriani Holungo of Imran Muntaz & Co. discuss the rules applicable to foreign ownership of domestic banking and financial institutions
ECB’s NPL guidance raises hopes and concern The measures to address the EU's growing NPL problem are a departure from its previous prescriptive stance. But questions surround the role of servicers
Market rejects Glass-Steagall’s return President Trump’s suggestion to re-instate Glass-Steagall has been dismissed by many market participants
DEAL: KrisEnergy’s triple capital restructuring The Singapore energy company's debt refinancing deal featured the market's first oil-price linked coupon
DEAL: Kuwait’s first sovereign bond The GCC country is a late arrival to the party with its inaugural $8 billion deal and the establishment of a global medium-term note programme
CFTC rule review welcomed The agency's plan to simplify some of its regulation is likely to attract the support of the market
DEAL: First corporate green hybrid bond Part-debt, part-equity, the hybrid instrument could help attract more issuers to the sustainable investment market
IFLR Fintech Europe: key takeaways In case you missed it, here are the key discussion points from yesterday's forum in London
DEAL: Aus first solar portfolio acquisition and financing Edify Energy closed funding for some of the country's first large-scale projects which attracted a trio of international lenders
