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Expect a fight

Predicting mezzanine’s return in 2012 would be one of the safer bets to make. Indeed mezz is already part of the capital structure in some European leveraged finance deals.

December 23 2011

New capital adequacy rules for Swiss banks

Andreas Moll Switzerland intends to implement the capital adequacy rules of the international Basel III framework for all banks registered in Switzerland. The Swiss Federal Department of Finance (FDF) has released the amended Capital Adequacy Ordinance for consultation, and the Swiss Financial Market Supervisory Authority (Finma) has done likewise with its adapted circulars.

December 23 2011

Countdown to March 18 2012

Despite this summer’s extension of the Foreign Account Tax Compliance Act (Fatca) withholding rules (scheduled to be phased-in over 2014 and 2015), Fatca’s next effective date (March 18 2012) will continue to greatly impact global financial transactions.

December 23 2011

Securing of syndicated financings in Poland (part one)

It is relatively easy to secure under Polish law a simple financing, where a single lender extends a loan to a single borrower. The exercise may not, however, be equally easy when it comes to securing a multi-facility syndicated structure not so rarely employed in cross-border financings.

December 23 2011

Transition to risk-based supervision

Chinonyelum Uwazie Vincent Iweze If recent speeches by the Director General of the Nigerian Securities and Exchange Commission are anything to go by, by 2012 Nigerian capital market operators will be exposed to a risk-based approach to supervision. As plans are underway to consolidate the risk-based approach, this paper considers some of its interesting implications for the Nigerian capital market.

December 23 2011

The new Financial Services Authority

Freddy Karyadi Oene Marseille On October 27 2011, the Indonesian parliament passed the Financial Services Authority or Otoritas Jasa Keuangan Law which establishes a new government agency known as the OJK. The purpose of establishing the OJK is (i) to ensure that the financial services sector is orderly, fair, transparent and accountable; (ii) to create a sustainable and stable economy; and (iii) to protect the consumer and public interest.

December 23 2011

Reform of Greek Insolvency Law

Konstantinos S Issaias New Law 4013/2011, which was published on September 15 2011, substituted the provisions of the Greek Bankruptcy Code for the conciliation procedure and introduced the new Rehabilitation Procedure.

December 23 2011

Foreign insurers and brokers able to underwrite agricultural insurance

Francisco Uribe Julian Avila The Colombian government has undertaken several initiatives to boost the growth of the country’s agricultural business in order for Colombia to become a world leader in food production.

December 23 2011

A gateway to easy registration of your yacht

Johann Henry Those people who live in the northern hemisphere have come to the end of yet another summer and are moving quickly through autumn into a northern winter. On the flip side (no pun intended) those in the southern hemisphere have bid farewell to old man winter and will themselves move quickly through a southern spring into summer.

December 23 2011

Late payment on bank enforcement procedures

Dr Teuta Dobi Endrit Shijaku In recent years in Albania the number of non-performing loans has been on the rise and the courts are facing an increasing number of default loan cases. Banks are turning their eyes towards the judiciary to see the courts’ reaction.

December 23 2011

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