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  • One default could trigger a domino effect China's eastern city of Wenzhou this week submitted a proposal to its provincial government to begin regulating private financing and establish the city as a distribution centre of private capital.
  • Chinonyelum Uwazie Vincent Iweze In a bid to address the demand by investors and other capital market participants for a more efficient securities clearing and settlement system, the Nigerian Securities and Exchange Commission recently made provisions for the dematerialisation of securities in a newly revised Consolidated Rules and Regulations 2011.
  • A French ruling on the Belvédère case has shed light on the role of the trustee in insolvency proceedings
  • Foreign participation in the Thai banking sector has been limited through a 25% foreign ownership cap in Thai banks. The Financial Institution Business Act, BE 2551 (2008) relaxed this restrictions somewhat and allowed for foreign shareholders to hold up to 49% of a financial institutions' shares, subject to authorisation by the Bank of Thailand, given on a case by case basis.
  • Sul A Lee The Trust Act of 1961 has recently been completely revamped and is expected to significantly affect various financial transactions once it comes into force on July 26 2012. It is expected that these changes will set the necessary foundation to improve Korea's trust laws and bring them in line with global standards. The most significant changes are as follows.
  • Ricardo A Pellerano On September 5 2011, the General Internal Revenue Office of the Dominican Republic (DGII) issued General Rule No. 13-2011 appointing financial institutions as withholding agents with the obligation to withhold 1% of interests to be paid to their corporate clientele.
  • Rule 15Ga-1’s disclosure requirements are over-inclusive. Here’s how they can be fixed
  • The US Securities and Exchange Commission (SEC) seems open to the bipartisan-backed crowdfunding legislation working its way through Congress
  • European MEPs decided that enough was enough for naked credit default swaps (CDS) on October 18 when they voted to ban the instrument and extend the European Securities and Markets Authority's (Esma) powers to restrict short selling.
  • Esma’s level two Prospectus Directive technical advice effectively forces multiple summaries. Issuers aren’t happy