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Takasumi Munakata On March 7 2013, the Financial Services Agency of Japan (FSA) published its proposal for the comprehensive revision of short selling regulations. Those proposed revisions will be subject to public comment until April 8, at which point the FSA will consider any comments received and amend the relevant regulations and ordinances. The FSA has advised that it expects the proposed new regulations to come into force around November 2013. Short selling is the sale of security by a party that does not hold the security at the time of sale. The short selling of securities benefits the market, as it allows for investors who do not hold the subject securities and expect that the price of the subject securities will decrease to express this opinion to the market, which can then be reflected in the price of such share. In addition, short selling also contributes to market liquidity. Where the market price of a security is declining, however, short selling of the security may exacerbate such decline, and may encourage unfair trading practices, such as so-called bear raids. In order to mitigate this risk, as well as other risks associated with it, short selling is carefully regulated in Japan.

In-house have a critical role in implementing the Equator Principles. Here’s how due diligence processes must converge with independent reviews

In recent weeks, speculation has escalated about whether it's in the UK's best interest to stay in the EU, or to cut its losses and leave. In debating the pros and cons, many have come to the unhelpful conclusion that the UK is caught in a catch 22.

David Johnson, K&L Gates Christopher Tan, K&L Gates Debaroh Bean, K&L Gates Alastair MacAulay, Clifford Chance K&L GATES was particularly active in the region's laterals market last month, with new hires in Australia, Hong Kong and Singapore. In Hong Kong, arguably the most high profile of the three moves was the capture of securities expert David Johnson from Allen & Overy. The new partner specialises in equity and debt issues, and also acts on broader corporate matters including acquisitions and privatisations. In Singapore the firm added corporate counsel Christopher Tan from Allens Arthur Robinson. His practice focuses on M&A and restructuring, with a specialisation in work emerging from China, Mongolia and Vietnam.

The comment letter process needs to be taken more seriously

Paris was a hive of activity last month with the biggest news being WHITE & CASE's capture of five lawyers from Linklaters' capital markets team, including some of the firm's leading lights. Three partners – Cenzi Gargaro, Philippe Herbelin and Séverin Robillard – are joined by consultant and former market star lawyer Gilles Endréo, and associate Thomas Le Vert who joins as a partner.

Who took home what from IFLR’s annual Asia awards

Asia’s securities regulators are firmly focused on protecting retail investors. But there are limits to what they can achieve

What can the financial services industry expect from the new UK regulatory authorities?

Law number 228, of December 24 2012 (the 2013 Stability Law) has introduced provisions regarding a new financial transactions tax (FTT) as part of the austerity measures and tax hikes recently implemented.