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  • Small and mid-cap companies operating internationally are having to readdress their corruption compliance programmes following a record number of Foreign Corrupt Practices Act (FCPA) enforcement actions last year, and a shift away from the Act’s traditional focus on large companies.
  • The absence of senior unsecured debt to bail-in in a resolution scenario is a “weak spot”, a Financial Stability Board (FSB) official has admitted.
  • India’s lawyers expect a central bank decision to liberalise the country’s foreign direct investment (FDI) policy to promote further easing of financial sector policies.
  • FCMs’ investment options will narrow Controls on futures and over-the-counter (OTC) customer funds will be stricter following allegations of MF Global’s (MFG) use of customer funds in the days before its collapse.
  • Peter Casey, DFSA Overly-complex Islamic finance structures such as the Nakheel sukuk leave open the potential for disruptive behavior, according to a Dubai Financial Services Authority (DFSA) regulator.
  • The first shariah-compliant greenfield project bond combined a sukuk with international-standard project bond intercreditor techniques to allow the landmark accession of the sukuk to the wider financing market
  • They shouldn’t be high yield investors While demand for retail high yield issues is likely to be strong, there are still a lot of legal and reputational risks, according to a Citi in-house counsel.
  • Restructuring solutions are becoming more complex, more expensive and taking longer to implement, according to Clifford Chance’s restructuring team
  • A Volcker Rule approved in its proposed form would dramatically affect liquidity in US equity markets, Goldman Sachs’ head of US equities trading has said.
  • A eurozone redenomination doesn’t add up The practical implications of how a eurozone carve out would work and exactly what assets would have to be redenominated seems impossible to resolve. The task of determining what would have to be redenominated under any new national legislation would be huge.