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Carlos Fradique-Mendez Ana María Rodríguez As the IMF has pointed out, a country's position on anti-money laundering and terrorism financing may facilitate its integration into the global financial system and strengthen governance and fiscal administration. In line with this, Colombia has made recent developments regarding anti-money laundering and terrorism financing. In a new regulation for companies in the real sector of the economy, the Colombian Superintendence of Companies has set out certain obligations that must be observed by all legal entities that, as of December 31 2013, had an income exceeding 160,000 monthly minimum legal salaries (approximately $49 million). Before the issuance of Regulation 304, regulations against money laundering and terrorism financing (ML/TF) were focused on some specific industries of the economy (such as the financial sector, football clubs, courier and mailing entities, gamble and games entities, gold exporting and importing entities, securities transportation, and custom agencies). Apart from the financial sector, other industries had not been heavily regulated, meaning that existing regulations were not comprehensive and neglected to address important matters. This resulted in the Colombian authorities being urged to update the standards and introduce new rules to act against ML/TF.

Increased regulation and competition from traditional limited partners is forcing global private equity firms to use more innovative financing solutions

The Reserve Bank of India’s relaxation of rules for foreign investment further signals the central bank’s desire to increase outbound investment. But the country still faces challenges in its bid to channel inbound investment

Myanmar’s recently released competition bill broadly follows global standards, but counsel are awaiting implementing regulations to assess the country’s merger review regime

The country's 2005 lock law which prohibits the government from paying holdout creditors has brought the country to the edge of default once again

UK business secretary Vince Cable’s plans to strengthen Britain’s Takeover Code have been described by London partners as ‘posturing’, with any tangible change in approach deemed unlikely

A US Supreme Court ruling last Monday gives defendants in securities litigation a new tool to challenge class certification. But failure to prevent that certification could lead to a stronger case against them

The UK's trailblazing sukuk developed an innovative structure, setting a benchmark that is hoped will inspire the country's corporates to tap the lucrative shariah market

Recommendations aimed at cleaning up the negative image of pre-pack administrations have been met with scepticism from key industry participants.

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