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Mafalda Monteiro The Payment Services Directive (PSD) was transposed into Portuguese law last November and was received with criticism by consumers associations and other civil society groups in Portugal. Their concerns were mainly related to the fact that the PSD expressly provides for the possibility of merchants to collect charges from consumers on purchases made through point-of-sale terminals. The issue became so important that it was raised in the Parliament by some opposition parties only a few days after the PSD was implemented into Portuguese law.

Jose Mondaca Manola Quiroz In recent times Chile has been a leader in Public Private Partnership (PPP) initiatives, with public work concessions amounting to roughly $8 billion and ranging from tollroads and airports to prisons and hospitals. Recently, the Chilean Concessions Law was subject to the following amendment:

Glen Rae, global head of capital markets at Bank of America in New York, on how to build a team out of a merger

The German government has dropped its plans to ban all equity trading that creates short positions, but curbs on naked short selling will remain

Following AIG’s rejection of Prudential’s revised bid for AIA, attention is turning to the termination fees that Prudential will pay if the deal fails

Structured notes issued by special purpose vehicles could be a thing of the past in Hong Kong, following new regulations issued by the regulator

Hong Kong’s regulator has clarified a cooling-off period for investors in structured products, easing bank concerns that investors could profit from market movements

Spain’s move to demand more disclosure on short positions in all listed companies could discourage hedge funds from investing in the country

Hong Kong’s new structured finance regulations could make the market more domestic

While the market has welcomed Hong Kong’s new Key Facts Statement, the product summary may clash with EU requirements for Ucits