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China is considering reforming its volatile IPO market. But the 2015 market crash has made the nation more cautious

Loan asset holders are faced with risks when a distressed lender can’t meet its funding obligations. But there are ways to mitigate the dangers

In the aftermath of the 2009 global financial crisis, international financial regulatory bodies such as the Basel Committee on Banking Supervision scrambled for answers to one key question: what caused the crisis. Although there were many causes, regulators uniformly concluded that a lack of sound corporate governance practices was one of the root causes of the crisis. It was said that boards of directors that were asleep at the helm, so-called runaway CEOs, figurehead audit and risk committees, and a lack of checks on moral hazard, were to blame for many of the problems.

The lighter side of the past month in the world of financial law

Andrew M Garbarski In a recent milestone decision dated May 24 2016 (decision 6B_503/2015), the Swiss Federal Supreme Court (SFSC) held, for the first time, that the duty of financial intermediaries to report suspicions of money laundering may extend beyond the end of the relevant business relationship.

China witnessed last month its first default on asset-backed securities (ABS) but is pushing ahead with its large-scale non-performing loan (NPL) securitisation programme.

The China Securities Regulatory Commission (CSRC) has conducted a sweeping crackdown on illegal private equity fundraising activities onshore, but rules and regulations specifically tailored to address them remain outstanding.

A Commission non-paper seen by IFLR, which sets out a framework whereby contingent convertibles (CoCos) would be given greater protection, has been heralded as a welcome clarification for investors. Under the plan, CoCos are given priority if a bank's maximum distributable amount (MDA), including dividends and bonuses, is under pressure.

This will be made easier The Financial Conduct Authority's new rules, which came into effect on September 7, create a better legal framework for whistleblowing in the UK.

The Clearing House Association is questioning the automatic internationalisation of US bank rulemaking