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The market has evolved from catering solely for offshore lenders financing Thai borrowers to include Thai lenders financing foreign ventures. Nattaporn Pengkul and Passawan Navanithikul of Weerawong C&P look at the latest developments in lending rules

The Court of Appeal's decision in Bank of Ireland v Eteams (International) brings further important legal clarity for all forms of receivables finance transactions, as well as the 'true sale' opinions given by lawyers in the context of such deals.

The Salvadoran Law on Secured Transactions (SLST) has been in force since April 2014 by Decree No 488, which is based on the Organisation of American State´s (OAS) Model Inter-American Law on Secured Transactions. Under Article 88, the SLST clarified that the new national central registry would become operational no later than six months after this law came into force (that is, October 15 2014).The creation of the SLST had an overarching theme: to improve access to credit for micro, small and medium-sized enterprises (MSMEs), particularly those involving women-owned businesses and other marginalised groups.

In Brazil, the public enforcement of antitrust infringements is carried out by the Administrative Council for Economic Defence – CADE. Since Law 12,529/2011 was enacted in Brazil, such enforcement has increased considerably, boosted by CADE through the use of leniency and cease-and-desist agreements (known as TCCs).

On April 19 2019, the Financial Services Agency of Japan published the Cabinet Order to Partially Amend the Order for Enforcement of the Financial Instruments and Exchange Act (draft). Of these proposed amendments, this article examines the amendment concerning disclosure regulations that relate to share compensation. Please note that, as of May 31 2019, the effective date of the proposed amendments has not been announced, and the content of the proposed amendments may change.

Article 20 of Law 1882 of 2018 was very important for reactivating the financing of the 4G concession road projects, because it clearly stated the guidelines for calculating the termination payment in concession agreements in the case of early termination events caused by a declaration of invalidity. On August 30 2018, the Controller General filed a claim of partial unconstitutionality of the article before the Colombian Constitutional Court, arguing that this article contravened the prohibition of illicit enrichment, among other arguments.

The fintech ecosystem in Guatemala has seen a steady rise in the number of fintech startups and operational companies that provide alternative financial services in country. According to the Inter-American Development Bank in its 2018 report entitled 'Fintech Latin America 2018 – growth and consolidation', as of December 2017 there were four operational fintech companies in Guatemala. However, according to the Asociación Fintech de Guatemala, which was recently formed by various fintech companies, as of the second quarter of 2019 there were 16 fintech companies in Guatemala.

On November 30 2018, partial amendments to the Ordinance for Enforcement of the Notary Act (Amended Ordinance) came into force. The Amended Ordinance aims to identify the beneficial owners of companies and improve transparency in order to prevent money laundering or terrorism financing activities. According to the Amended Ordinance, when making an application to a notary for the authentication of articles of association to incorporate new joint-stock companies (kabushiki-kaisha), general incorporated associations (ippan-shadan-houjin) or general incorporated foundations (ippan-zaidan-houjin), applicants must declare to the notary: (i) the beneficial owner of the company; and, (ii) that the beneficial owner is neither a member of criminal organisations nor an international terrorist, and where there is any reasonable doubt the notary will request the applicant to provide explanations.

Chinese investment into France grew in 2018 even as it dropped across the rest of Europe, and investor-friendly changes may give it a further boost. Raphaël Chantelot, Fanny Nguyen, Hubert Bazin and Nicolas Vanderchmitt of LPA – CGR Avocats take a look at the environment

In a referendum held on May 19 2019, the Federal Act on Tax Reform and AHV Financing (TRAF) was adopted by the Swiss people and the cantons. The reform includes several measures directed at corporate income taxation, such as the abolition of tax privileges for certain types of companies (status companies) and the implementation of internationally accepted replacement measures such as a patent box or the ability to super-deduct R&D costs (up to 150% of actual costs). The reform also contains tax measures at the shareholder level. The majority of the measures will be in force as of January 1 2020.