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The restructuring at DEWEY & LEBOUEF has not been restricted to the US this month and the European region had its fair share of news with various partner departures occurring in London, Italy and the Middle East.

For many years China has been implementing separate policies for urban and rural land, under which they are governed by different legal systems and governmental authorities and are traded in different markets and have different rights. Use of farm land for non-agricultural purposes is monopolised by the government. Rural land to be used for urban construction needs to be expropriated from farmers first and then sold to land users by the government.

The enactment of the International Trust (Amending) Law of 2011 has completely modernised the international trusts regime in Cyprus. When it was enacted in 1992, the Cyprus International Trusts Law gave Cyprus a state of the art international trusts regime. The world has changed considerably in the intervening 20 years, however, and a number of restrictions and limitations contained in the original law are no longer necessary. New opportunities and investment practices have emerged, which the original law did not take into account. As a result, while the basic structure provided by the International Trusts Law remained sound, it required updating to adapt it to the needs of investors today and in the coming years.

Samuel B Abad Yupanqui On April 4 2012, the regulation of Law 29785 became effective. It carries the right to prior consultation with indigenous peoples recognised by Convention 169 of the International Labour Organization (ILO), and is intended to ensure the right to consultation when an administrative or legislative measure, for example, a mining lease or the installation of gas pipelines, may directly affect collective rights.

The US Financial Stability Oversight Council (FSOC) recently issued a final rule and guidance regarding non-bank entities that may be designated as systemically important subject to Federal Reserve supervision.

Rodrigo Taboada In January, 2011, the National Assembly of Nicaragua approved Law No 741 that regulates trust agreements in Nicaragua. This is the first time that trusts have been regulated by law. The law declares that the regulation of trusts will have the purpose of allowing management of assets, execution of public and private investments, and creation of securities, among other things.

The Financial Supervisory Service (FSS) of South Korea has announced a new corporate disclosure system under which there will be an introduction of computerisation of the entire disclosure process and the follow-on examination procedure as well as different review standards for both top-ranking and struggling companies.

On April 3 the Securities and Exchange Board of India (Sebi) approved new rules for alternative investment funds (AIFs), which regulate India's venture capital, private equity and hedge fund industry.

Investment advisers have criticised a US House Financial Services Committee proposal to implement a self-regulatory organisation in the retail market

The recent corporate restructuring cycle in Russia and central Europe has provided many opportunities for learning lessons that will inform future transactions.