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This year, clearing houses will look to comingle options contracts in an attempt to use margin offsets to lower Dodd-Frank compliance costs – for themselves and swaps traders

As a means of raising capital for investment in UK industry, equity markets no longer register on the radar screen of significance. But UK economist John Kay remains hopeful the market can be resurrected. Here's how.

2013 could be the year that consensus on the best approach to reform the UK's banking sector is finally achieved. Here's why

The lack of a coherent English law doctrine of lenders’ liability means US investors need to take care

There was renewed buzz around contingent convertible capital instruments (CoCos) last year, off the back of impressive issuances by UBS and Barclays. The permanent write-down – rather than conversion to equity – adopted in both deals led to speculation of a new breed of CoCo. But these deals represent just one of many twists to the classic CoCo concept that will appear this year.

The bank reorganisation navigated local law issues surrounding subordination and cram-downs

Starting from January 1 2013, sellers of goods and suppliers of services in Italy finally have more stringent terms under which to obtain the payment of their invoices by the relevant debtors.

Freddy Karyadi Oene Marseille Bapepam-LK has recently issued a revision of the procedure for the implementation of quasi-reorganisation through Regulation No IX.L.1 attachment Decision of Head of Bapepam and LK No KEP-718/BL/2012 (which has replaced Decision of the Head of Bapepam No KEP-16/PM/2004). The background to the issuance of the new regulation is the convergence of the Financial Accounting Standard Statement (Pernyataan Standar Akutansi Keuangan, or PSAK) to IFRS under which it was considered that PSAK 51, regarding accounting for quasi-reorganisation, was not compatible with the concept under IFRS. In relation to this point, the Board of Financial Accounting Standards – Indonesian Institute of Accountants (Dewan Standar Akuntansi Keuangan – Ikatan Akuntan Indonesia/DSAK-IAI) published its Statement of Revocation of Financial Accounting Standard (Pernyataan Pencabutan Standar Akuntansi Keuangan/PPSAK) No 10, revoking PSAK 51, effective on January 1 2013.

The National Commission on Indigenous Peoples (NCIP) recently promulgated the Revised Guidelines on the Exercise of Free and Prior Informed Consent (FPIC) and Related Processes (NCIP Administrative Order No 3, series of 2012), which repealed The Free and Prior Informed Consent Guidelines of 2006.

Bertha Xiomara Ortega Since 2008, Nicaragua has been modernising the administration of labour justice. The Ministry of Labor started the modernisation with the implementation of an oral process for the fulfilment of certain formalities required before it, such as termination of employment contracts for justified cause, collective suspensions and business closures. The implementation of this oral process has been successful because it reduces and simplifies the processes. In the judicial field, the National Labor Court of Appeals was established in 2011 and has national jurisdiction to hear as the second and final instance all the individual and collective disputes of legal matters which arise from the employment relationship between employers and workers. The National Labor Court of Appeals was established to provide legal certainty to employers and workers; it is a specialised labour court that will unify the jurisprudence on this matter. Before its creation, labour jurisprudence was divided into different courts of the country; the authorities in charge of labour decisions were the civil courts of appeals of various jurisdictions.