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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

HFT critics have pounced on the Knight Capital, Bats and Facebook trade glitches. But some reforms could do more harm than good

Spurred by a specialist global arbitration panel and Isda’s consultation, the financial sector is embracing different dispute resolution clauses

The bankruptcy of Mexico’s Vitro tested US international insolvency laws, and serves as a warning to both creditors and debtors

Turkey’s new Commercial Code brings the country’s trade and corporate rules into line with EU standards. Here are the key reforms

Antonio Felix de Araujo Cintra The Brazilian credit securitisation industry has developed at an amazing rate in recent years. Since the enactment of Instruction CVM No. 356, which set out the rules for the organisation and operation of securitisation funds in Brazil (the so-called FIDCs), credit securitisation transformed itself from being an exotic financial product into one of the first alternatives sought by companies looking for possible general capital funding. At a time when interest rates were still very high in Brazil, the creation of FIDCs enabled companies to sell their trade receivables to raise working capital at more accessible rates. The same mechanism was quickly adopted by smaller banks, which sold their car and consumer loan portfolios to FIDCs to be able to continue to make new loans without breaching their capital requirement rules established by the Central Bank. In addition, FIDCs were also created to provide financing for small and medium-sized suppliers of large corporations and to purchase non-performing loans, precatórios (payment obligations of the Brazilian public sector) and other types of credits, creating a very useful secondary market for all kinds of credits.

Take one global rate-fixing probe. Add in an escalating money laundering scandal, an embarrassing swap mis-selling settlement, and three costly US trading glitches. Sprinkle with an investing public already antagonised by today's 'bankster' culture and garnish with outraged politicians at your discretion.

When Cyprus became independent in 1960 it retained the colonial-era Limitation of Actions Law, which prescribed the time limits within which claims must be brought before a court. The Limitations Law was suspended in 1964 following inter-communal disturbances. An attempt to reinstate it was made in 2002 with the enactment of Law 110(I) of 2002, which provided that the Limitations Law would re-enter into force with effect from June 1 2005. However, the entry into force of the 2002 Law was postponed by a succession of laws, each temporarily extending the suspension. The last of these, passed in December 2011, extended the suspension until June 30 2012.

During the past 10 years, Honduras has made great progress in the protection of financial users' rights. One of the most significant advances was the enactment on February 3 2010 of the Rules for Strengthening the Financial Transparency, Culture and Customer Care for Financial Users in Supervised Financial Institutions (Resolution 223/26-01-2010) (the Transparency Rules) which were later amended by the Resolution GE 1631/12-09-2011 and supplemented by Resolution GE 1632/12-09-2011 (the Supplementary Rules) effective as of October 8 2011.