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The regulator has launched a consultation that could result in making compensation for retail investors easier

Gönenç Gürkaynak and Öznur İnanılır, ELIG Gürkaynak Attorneys-at-Law

Colin Raftery, director of mergers at the CMA, discusses policy developments, priorities and Brexit

On January 15 2018, the Vietnamese government issued Decree 09/2018/ND-CP which came into force on the same day. Decree 09/2018/ND-CP replaced Decree 23/2007/ND-CP in governing trading goods and other directly related activities by foreign investors and foreign-invested companies in Vietnam. Decree 09/2018/ND-CP sheds light on some issues which were not clear under Decree 23/2007/ND-CP, but on the other hand raises doubts on others. There are five takeaways affecting the retail business sector.

For the past two decades, technology has permeated the financial services market. Developing countries such as Costa Rica and its neighbours are being favoured by these emerging fintech startups. Entrepreneurs are focusing on developing financial tech tools in areas such as lending, payments, alternative scoring, data management, digital banking, personal finance management and crowfunding in order to offer a varied and accessible range of services for different market segments.

As of January 1 2018, a new long-term interest rate for loans granted by the Brazilian National Economic and Social Development Bank (Banco Nacional de Desenvolvimento Econômico e Social or BNDES), known as TLP, is in force.

In recent years, international email fraud cases have been occurring all over the world, where persons in the guise of trading partners contact companies by email using email addresses and domain names that closely resemble the official ones of such actual trading partners. Typically, the emails give false notices and instructions stating that the bank accounts for the remittance of purchase prices, for example, have changed. There are some cases where Japanese bank accounts are designated as the new remittance accounts in such notices and instructions.

The Cyprus Securities and Exchange Commission (CySEC) has issued a notification to entities it regulates and to participants in the market in general of the consultation process regarding a proposed amendment of the EU prudential rules for investment firms.

The Central Bank of the Philippines (BSP) has previously approved the rules and regulations governing virtual currency exchanges in the Philippines.

In February, the United States Court of Appeals for the Second Circuit reversed a 2014 decision that had found Jordan-based Arab Bank liable for intentionally supporting the terrorist group Hamas. The original decision was made after the bank was tried by a Brooklyn-based jury for providing financing to the group, which has been linked to several militant attacks against Israel in the early 2000s. It was the first time in the US that a bank was held liable civilly for violating the Anti-Terrorism Act, which lets US citizens seek damages from international terrorism.