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It takes time to learn how the financial services industry functions, time to learn how to navigate one's own institution and time to gain enough trust with internal clients that they can contextualise and better accept a 'no'.

The Integrated Latin American Market’s structure has had a promising first three months thanks to collaboration between brokers in Colombia, Peru and Chile. But problems persist

In the past, it was not infrequent to see on the market issuers established in European Member States acting as pass-through vehicles of Italian unlisted companies providing guarantees to their subsidiaries for the issue of notes. Unlisted Italian companies would, in fact, need to apply a withholding on payments of interest if they would accede directly the markets as issuers of notes.

Anthony Coleby One of the most important features of the new Capital Markets Law is the establishment of a Stock Market Court and this is dealt with in the law by Articles 108 to 117. This court has been created as a special tribunal independent from the mainstream Kuwait judicial system, being carved out of the Court of Cassation.

Marielle Garrigó In an effort to increase the government's income to better balance the annual budget and increase spending on education as a strategic component of economic and social development, the Dominican fiscal system was recently amended by Law No 139-11. The amendments made by such law primarily relate to (i) an increase in the corporate annual income tax rate; (ii) a change in the fiscal system applicable to casinos and other gambling centres; (iii) a new tax on financial assets of banking institutions; and (iv) a change in the system applicable to the importation of goods from Dominican free zones into the domestic market.

German Rodriguez Following the approval of the Insurance Market Regulation Law on July 1 2008, Costa Rica abandoned public sector exclusivity in the insurance industry in favour of market-driven competition. Three years later, the industry has seen the arrival of international insurers and the raising of supervisory standards; nevertheless it has not yet seen the proliferation of innovative products and distribution channels or a significant share market participation of new insurers.

Carlos Fradique Méndez Adriana Ospina Jiménez In light of the renewed focus by the US authorities on enforcement of the provisions of the US Foreign Corrupt Practices Act, as well as the implementation of the UK Bribery Act, it is worthwhile looking at the applicable regime of anti-bribery regulations in Colombia and the government's efforts to strengthen the country's anti-bribery laws.

As the Polish economy matures, Polish entities are more and more often becoming part of the world's business ecosystem. But this does not only mean receiving benefits: for example, Polish entities are increasingly providing support to their parent and sister companies worldwide by becoming borrowers and, even more frequently, guarantors in global financings. They secure obligations worth billions of euros, while themselves they are usually worth only a fraction of the stake.

Jose Talledo Vinces Law No 29663, published on February 15 2011, amended the Peruvian Income Tax Law to include, as taxable income from Peruvian source, any capital gain that non-domiciled shareholders obtain from the indirect transfer of ownership of the shares or participations issued by companies domiciled in Peru.

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.