Search results for

Bankers' counsel may be forgiven for missing the European Securities and Markets Authority's (Esma) Prospectus Directive (PD) consultation document seeking comments on the technical advice to the EC on possible delegated acts.

Gerald Cheong Elena Ng The future of credit rating agencies (CRAs) in Singapore took a twist on January 17 2012 when the Monetary Authority of Singapore (MAS) released a new regulatory framework for credit rating agencies.

Just around the end-of-year holiday, the Federal Reserve Board proposed several rules related to capital requirements for US banks.

It has been common in Vietnam to see prices listed in foreign currencies, and traditionally items, especially land, have been valued in gold rather than money. However, with the erratic fluctuations in the financial markets, the devaluations of the Vietnamese dong (VND) and the sharp increase in the price of gold, the State of Vietnam has determined to exert stricter control over financial markets and particularly the widespread use of foreign currencies and gold pricing on the domestic market.

Chun-yih Cheng In order to, among other things, strengthen the supervision of listings by foreign companies in Taiwan, accord minority shareholders a right to apply for inspection, and ease general listing procedure, the country's Securities and Exchange Act was amended on December 12 2011:

On December 15 2011, the Bank of Thailand issued policy guideline no. 58/2011 allowing foreign banks with branches in Thailand to convert to subsidiaries, each of which can have a maximum of 20 branches and 20 off-premises ATMs throughout Thailand. There are 15 foreign banks with branches in Thailand, and one subsidiary of a foreign bank.

The oil and gas industry in Peru traditionally has been concentrated in production from oil fields on the north coast as well as from fields located in the jungle. This allowed Peru to export oil, as well as to supply its local market needs for fuel. Due to different economic and regulatory reasons and conditions (price regulations, limitations to foreign direct investment, among others), however, this resulted in the reduction of reserves and production of oil in Peru.

Andreas Moll On August 29 2011, the Swiss Federal Supreme Court rendered a decision concerning kickback payments by banks (retrocession) in favour of asset managers.

Yolanda Berenguer Spanish news reports almost daily feature stories of families being evicted for not meeting their mortgage payments; undoubtedly, this is due to the recession affecting all of Europe, particularly Spain. The figures speak for themselves. Between 2007 and 2010, the number of judicial mortgage foreclosures in Spain increased by 531%. In addition, the overwhelmed state of the courts has resulted in delayed foreclosure proceedings (between 18 and 24 months, in the courts of first instance).

Ji Yeoun Kim Following the amendment to the Enforcement Decree of the Financial Investment Services and Capital Markets Act in September 2011 to introduce Korean hedge funds, 12 hedge funds operated by nine different asset management companies have been registered. To assist in the successful operations of hedge funds in Korea, the Financial Supervisory Service and the Korea Financial Investment Association have issued best practice guidelines for Korean hedge funds and prime brokers which came into effect from December 12 2011.