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Start again. That was the message last month from the Bank of England's financial stability head, Andrew Haldane. For too long regulators had reacted to problems that emerge by papering over cracks one at a time, Haldane complained in his acceptance speech for this year's IFLR European Regulatory Contribution Award. This has inevitably led to a regulatory patchwork of make-do-and-mend. "History locks in the idiosyncrasies and complexities of the past, generating a steadily rising tide of red tape," he explained.

There is little need for this in regulator-bank settlements When Judge Rakoff rejected a $285 million settlement between Citi and the Securities & Exchange Commission (SEC) in 2011, many dismissed the move as type of financial-world publicity stunt. Rakoff has long been a critic of neither-admit-nor-deny settlements, and the Citi/SEC agreement seemed to push him over the edge. Of course the bank and Commission have appealed, and of course that is still rumbling through the court system. And of course everyone expects the court to rule in favour of the appellants (a judgment is expected early this month).

The world is eagerly awaiting the internationalisation of the renminbi (RMB), but it may be further away than many believe.

Ozan Karaduman and Tugçe Avcisert of Mehmet Gün & Partners explore the likely impact of a new law on the Turkish electricity market, and the effect on the use of renewable energy

Has New Zealand found a way to keep these away from creditors?

The latest draft of the European Commission's (EC's) Financial Transaction Tax (FTT), far from forming a vital part of the arsenal of post-crisis reform, would freeze credit markets in Europe.

Last year’s M&A mechanism of choice

A better approach to keeping banks on benchmark panels? Regulatory compulsion is shaping up as a key battleground in benchmark rate reform, as more banks quit rate-setting panels. New rules governing the London Interbank Offered Rate (Libor) that took effect in April keep panel participation voluntary, for now. But the European Commission has warned banks may be forced to submit to the Euro Interbank Offered Rate (Euribor).

CoCos are set to take greater risks

The International Finance Corporation's (IFC) investment into Bhutan National Bank (BNB) is the largest foreign direct investment into Bhutan. It signals growing interest in the fast-growing frontier market.