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Antonio C Mazzuco and Byung S Hong, of Madrona Hong Mazzuco Brandão examine the effect on investment of recent developments in Brazilian investment regulation

For issuers from some jurisdictions, raising funds means confronting and overcoming investors’ inaccurate presumptions

Self-reporting is an option – not an obligation – in many jurisdictions. And the benefits of making a disclosure are far from guaranteed

A combination of economic and regulatory factors make it imperative that China’s bond market develops into a viable source of domestic funding

There are new issues to be considered by banks and senior management regarding money laundering risks in the UAE

"It is a completely wrong assumption and arguments that the three year time frame given is too short a time frame" – U K Sinha.

The very first measure introduced by the recently enacted decree aimed at the growth of the Italian economy – law decree No 83 of June 22 2012 (decree No 83) converted into law with amendments by law No 134 of August 7 2012 – is a new and more favourable tax regulation for project bonds. It is laid down in the first article of Decree No 83.

Nazir Mian Muhammad Bankers' associations have been playing a very effective role in developing and promoting codes, best practices and standards for the banking industry. Being the representatives of the industry, these associations can feel the pulse of the industry and strategise the appropriate response to deal with the common issues affecting it. Islamic banking is a part of the overall banking and finance industry and as such is represented by the concerned bankers' association; nevertheless, considering the unique model which it follows, Islamic banking requires a little more financial literacy in terms of awareness with the principles of shariah. Compliance with the principles of shariah by Islamic banks in all their activities and operations makes them distinct from conventional banks and as such requires different treatment for them in some specific areas. With the current pace of growth of Islamic banking, more particularly Islamic banks' transition from boutique banks to full-scale financial institutions offering, among others, a suite of complex banking solutions in full competition with conventional banks, it would be necessary to have a representative body for Islamic banks which understands their business model and their distinct requirements and can effectively represent them before the regulators and other stakeholders as an important section of the mainstream industry.

Nicholas Chang Amy Han The asset management industry has been facing tighter regulation globally. Singapore's much-anticipated enhanced regulatory framework for fund management companies (FMCs) was finally implemented by the Monetary Authority of Singapore (MAS) in August. This move will help to align Singapore's fund management regulatory framework more closely with those adopted in other international financial hubs. Broadly speaking, the revised licensing and regulatory requirements vary depending largely on the categories that the FMC falls into. There are three categories of FMCs, namely Retail Licensed FMCs (Retail LFMCs), Accredited Investor Licenced FMCs (A/L LMFMCs), and Registered FMCs (RFMCs). The RFMCs will replace the Exempt Fund Managers (EFMs) under the old regulatory framework. As a result, the existing EFMs that manage funds for not more than 30 qualified investors will have to either apply for a licence to conduct fund management, or register with the MAS under the RFMCs regime. RFMCs are allowed to serve up to 30 qualified investors and manage up to S$250 million ($203 million) in assets under management. If any of these thresholds are exceeded, the FMC must apply for a licence either as Retail LFMCs or A/I LFMCs. A transition period of six months is given to affected FMCs.

The financial crisis had started when the revamp of rule 12g3-2(b) was finalised. How has the market responded?