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German support for an EU banking union increased after the European Commissioner Michel Barnier clarified that national regulators will continue to have a role. But non-eurozone member states remain unconvinced

Kuala Lumpur's Association of Islamic Scholars (ASAS) is set to introduce shariah board accreditation processes this year in a bid to address concerns over the integrity of shariah scholars. But many believe the move is set to fail

It seems a fact of corporate life that broad-based international regulations will draw substantial criticism. But the US Commodity Futures Trading Commission's (CFTC) proposed cross-border rules under Title VII of Dodd-Frank are of particular concern.

Phung Thi Thanh Thao As part of the Vietnamese government's efforts to stabilise the country's economy and bolster its anticorruption campaign, a new Law on the Prevention and Combating of Money Laundering No 07/2012/QH1 was passed in the June 2012 session of the National Assembly. Coming into force on January 1 2013, this law builds on Decree 74/2005/ND-CP, and significantly expands the definition of money laundering, as well as the monitoring and reporting obligations of financial institutions and other organisations nationwide. Some of the most significant changes are set out below.

Investigations into nine of the 10 brokerages submitting three-month rates for South Korea's certificate of deposit rates (CD rates) prompted the country's Financial Services Commission (FSC) to introduce the benchmark Cost of Funds Index (Cofix) for short-term lending rates. But there are issues with Cofix setting, too.

Commentators have been quick to dismiss plans for a UK business bank. Too quick, in fact. Business secretary Vince Cable's vision of a government-backed lender would offer a reprieve to the country's banking sector, and is worth pursing. Its objective might be to improve funding options for small and medium-sized enterprises (SMEs). But it could also increase the market share of the so-called challenger banks, and create some much-needed distance between the big four and SMEs – in June the banks admitted to having mis-sold interest rate swaps to the corporates in question.

It's not every day that regulators, industry groups and consumer advocates agree on a financial industry reform. Yet the Securities and Exchange Commission (SEC) plans to keep a uniform fiduciary standard for investment advisers and broker-dealers on the backburner.

BBVA Continental's direct offering last month of $500 billion senior unsecured eurobonds signals a new trend in Peruvian bond issuances.

Coller Capital's acquisition of £1.03 billion of private equity assets from Lloyds Banking Group, along with £22 million of undrawn commitments, is the largest unsyndicated secondaries transaction ever completed.

Alexander McMyn, Hogan Lovells In Asia, Singapore was the centre of activity last month. Arguably the biggest hire was that of Alexander McMyn who left Linklaters to join HOGAN LOVELLS' finance team. McMyn focuses on banking, structured finance and asset finance. Before moving to Singapore he had worked in Linklaters' London office. He recently advised on the financing of Vedanta Resources' $9 billion acquisition of Cairn India. Elsewhere, LATHAM was looking to shore-up its Singapore offering with the transfer of partners Rod Brown and Luke Grubb from its London office. The corporate pair will add greater depth to the US firm's offering in the city, which now has 11 partners and 36 lawyers in total.