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Money market mutual funds (MMFs), while benefiting from quality and liquidity floors implemented in 2011, remain a source of vulnerability for the US economy. The Financial Stability Oversight Counsel (Fsoc) should see that fund managers hold enough capital in the event of another meltdown.

Will less stringent regulation boost innovation in China’s securities market?

In Pepsico Puerto Rico, Inc v Commissioner, the US Tax Court found that PepsiCo's 'advance agreements' between Pepsico Puerto Rico (a Delaware corporation) and a Netherlands affiliate were equity rather than debt for federal income tax purposes. This, in turn, permitted PepsiCo to treat payments on the advance agreements as non-taxable returns of capital rather than interest payments for the taxable years in question.

HK’s new sponsor rules could lock up funding as well as sponsors That Hong Kong wants to protect the reputations of its H-share and A-share companies is understandable – particularly following the issues that have troubled US-listed ChinaCos. But while listing location is rarely chosen on the basis of a regulator's vetting process, Hong Kong's new sponsor regulations may have made initial public offerings (IPOs) prohibitively expensive. Hong Kong's sponsor regulations have left small firms with few options. The rules might have noble underpinnings, but their provisions are heavy-handed. The risk sponsors take means that we are likely to see far fewer small IPOs getting done in Hong Kong.

Ten years after its creation, has Hong Kong’s Securities & Futures Appeals Tribunal proved an effective review panel?

Erik Lind On January 1 2013, the Peruvian Controlled Foreign Corporation Regime (Regime) entered into force. The Regime aims to prevent the deferral of Peruvian Income Tax (IT) on foreign source passive income – such as dividends, interest, royalties, and capital gains – earned by Peruvian Tax Residents (PTR) through the use of Controlled Foreign Corporations (CFC) located in low tax jurisdictions. A foreign entity qualifies as a CFC if, by the end of the Peruvian tax year (December 31) it satisfies the following criteria:

The government of Mongolia's recent Regulation S/Rule 144A debt offering marked the first time the country has tapped the sovereign bond market.

Bank of America's $726 million loan to the Brazilian state of Santa Catarina reflects a radical shift by Brazil's states toward major international lenders.

The Basel Committee on Banking Supervision released its revised Liquidity Coverage Ratio (LCR) requirements on January 6. It included some significant changes, which were to be expected given that its original December 2009 initial framework document was the first time that an internationally applicable, quantitative regulatory requirement for liquidity had been proposed.

The US Securities and Exchange Commission's (SEC) 'Annual Report on the Dodd-Frank Whistleblower Program: Fiscal Year 2012' reveals a programme that is still grappling with many difficulties, lawyers have said.