Search results for

Spain’s banking crisis has accelerated Europe’s recovery and resolution planning proposal, but the EU banking union initiative may require major changes

Recent amendments to the EU prospectus framework make it easier to issue publicly-traded securities. But questions remain

The SEC has adopted requirements for a Consolidated Audit Trail, but it leaves critical questions unanswered

First were samurai and dim sum bonds, now foreign issuers have a local currency instrument in Russia. Here’s how to use Kalashnikov bonds to tap rouble liquidity

As Europe approaches its debt maturity wall, amend-and-extend requests are piling up. As a solution, it’s easier said than done

Carlos Fradique Me´ndez Lyana de Luca The Colombian Financial Superintendence (SFC) recently issued Regulation 053 of 2011 which sets forth new requirements to establish a representative office in Colombia or enter into a correspondent agreement with a local brokerage firm or investment bank, with the purpose of undertaking marketing activities of financial products in Colombia. This is particularly relevant, as Colombian institutional investors are aggressively looking at investment opportunities abroad, largely as a result of the Colombian economy continuing to grow at very attractive rates. Pursuant to Regulation 053, foreign financial institutions seeking to promote their financial products and/or services in Colombia will be allowed to market and promote exclusively the products and/or services authorised by the SFC. Any kind of promotion or marketing of products and/or services beyond those that were initially authorised must have the proper authorisation of the SFC. The SFC is itself authorised to impose sanctions to representative offices and local correspondents who undertake marketing activities with respect to non-authorised products and/or services.

Freddy Karyadi Oene Marseille Indonesia's Central Bank issued the long-awaited Regulation No. 14/8/PBI/2012 on July 13 2012 (Regulation 14/2012). The main purpose of the Regulation is to impose ownership restrictions on certain classes of bank shareholders, namely banks and financial institutions, which are subject to a 40% shareholding limit; non-financial institution legal entities, which are subject to a 30% shareholding cap; and individuals and natural persons, which are subject to a 20% shareholding cap (25% in the case of shareholding in a shariah bank). These thresholds are also applicable to multiple parties with special relationships, such as family relations or a common shareholding, or unrelated persons acting in cooperation to control the bank. Where shareholders are related or "acting in concert", they will be deemed as one party and will be subject to the higher shareholding ownership applicable to each of them.

Malaysia's Securities Commission recently issued a new Code on Corporate Governance 2012 (MCCG 2012) in an attempt to enhance and further reform the country's corporate governance landscape. The MCCG 2012 will supersede the 2007 Code on Corporate Governance when it takes effect on December 31 2012.

In overall shariah governance structure for Islamic financial institutions (IFIs), shariah audit occupies the most critical place. It completes the cycle of shariah compliance for an IFI, as it reveals the level of an IFI's compliance with the principles of shariah in all its operations.

Proposed amendments to Regulation Z of the Truth in Lending Act could increase investment in residential mortgages guaranteed by Fannie Mae and Freddie Mac just as the US government moves to unwind the government sponsored enterprises