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Chika Enemuo Nigeria has finally joined other nations with vast sovereign wealth fund (SWF) networks. It has established its own fund to operate in line with international best practices. The Nigerian Sovereign Investment Authority Act, 2011 (NSIA Act 2011) which establishes the Nigeria Sovereign Investment Authority (NSIA) has the principal aim of building a savings base for Nigerian citizens, enhancing the development of Nigerian infrastructure and providing stabilisation support in times of economic stress, among others.

Christina Papanikolopoulou On July 1 2011 the Greek Parliament passed Law 3986/2011 on Emergency Measures for the Implementation of the Medium-term Fiscal Strategy Framework for the years 2012-2015 (Medium-term Plan). One of the measures introduced by the Law was the establishment of a fund that will undertake the development and exploitation of private law assets owned by the Hellenic Republic and/or state-owned corporations. This fund was set up in the context of the Greek government's efforts to step up privatisations, which it has committed to complete under the emergency lending plan established by the ECB, the Eurozone and the IMF.

Regulators are in dialogue with the US’s loan trading trade body on the potential exemption of open market CLOs from risk retention rules

The Philippines' Energy Regulatory Commission (ERC) recently re-issued rules implementing the mandate on public offering under the Electric Power Industry Reform Act of 2001 (Epira). The ERC initially issued rules implementing this requirement in 2005; however, the rules were suspended in 2006 pending the conduct of public hearings.

Within the endeavours of creating an inclusive financial sector, Syria issued its first Microfinance Law in February 2007, the first of its kind in the MENA region allowing deposits.

One of the important purposes of the Pemex law enacted in 2008 was to allow Petróleos Mexicanos (known as Pemex) to implement new contractual schemes for petroleum production which would no longer be subject to the restrictions of the Public Works Law. It took some time from the effectiveness of the reform in November 2008 to the publication in November 2010 of the of the new model contract, known as the Generic Service Contract Specimen for Evaluation, Development and Production of Hidrocarbons.

Liam Carney Robin McDonnell On July 22 2011, the Irish Supreme Court delivered its judgment in what has been described as one of the hardest fought examinerships in recent times. By majority decision, the Supreme Court upheld the decision of the High Court, refusing to confirm the proposed scheme of arrangement of the examiner appointed to the McInerney group on the basis that it was unfairly prejudicial to the lenders to the McInerney group.

On March 31 2011, the Tokyo Stock Exchange (TSE) enacted amended listing rules for Mothers (the name is derived from the market of the high-growth and emerging stocks), a securities market established for relatively young, growing companies. Amendments were made from the perspectives of improving the credibility of, and stimulating activity on, Mothers.

Freddy Karyadi Oene Marseille On July 14 2011, Indonesia's House of Representative passed a new law that amends Law No 9 of 2006 on the Warehouse Receipt System. The new law amends seven articles of Law 9/2006 and introduces 12 new articles. Through this amendment, the government aims at accommodating business demands regarding warehouse receipts. The new law excludes one sub-paragraph in Article 5, which stated that the value of the goods must be based on the market price when the goods are placed in storage.

On August 1 2011 the Securities and Exchange Board of India (Sebi) published a concept paper regarding regulation of Alternative Investment Funds (AIFs). The paper is accompanied by draft proposed regulations for AIFs, and seeks to substantiate the need to regulate and register AIFs as a distinct asset class. Accordingly, it emphasises the necessity to have a comprehensive legal framework for private pools of capital. Through the paper, Sebi has expressed its concern in relation to venture capital funds (VCFs) being used as an investment vehicle for other classes of funds and for investing in companies other than start-ups.