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On October 25 2017, the Law of Secured Transactions (Law 936) came into force with the purpose of stimulating access to credit for individual traders, small and medium enterprises, and other institutions that due to the nature of their assets were not subject to financing at competitive interest rates.

On May 26 2017, an amendment to the Civil Code was enacted and will be enforced within three years from the promulgation date of June 2 2017. The aim of this Amendment is to comprehensively reform the law in respect of obligations in the Japanese Civil Code. Although many of the provisions were revised based on existing case law and commonly accepted theories in Japan, this Amendment will have a significant effect on Japanese legal practice because: (i) it covers a broad range of legal issues, which include statutory interest rates, statutes of limitations, default, cancellation of contracts, damages, assignments of claims, set-offs and guarantee obligations; and, (ii) it introduces some new rules. This article covers some of the new rules introduced by the Amendment.

The Philippine supreme court has finalised the validity of Securities and Exchange Commission Memorandum Circular number 8 of 2013 (SEC MC No 8-2013) prescribing the guidelines for compliance with Filipino-foreign ownership requirements in partially-nationalised activities. The supreme court recently dismissed the motion for reconsideration filed by the petitioner in the case of Roy vs Herbosa (Roy), thereby confirming the validity of SEC MC No. 8-2013.

A bank may need to acquire treasury stocks for a variety of reasons, such as to adjust firm leverage levels or to deliver financial compensation to shareholders. One concern, though, is the situation where the bank wishes to repurchase its shares from the market while its foreign shareholding ratio has already reached the threshold under the law.

In this exclusive interview, the regulator's former acting head talks about his successor, the Consumer Financial Protection Bureau, Volcker and his future

Latest guidance seeks to reconcile differences in UK and US opinion letter practices in cross-border financial transactions

The PCC is stepping up enforcement scrutiny

Nicolas Véron and Larry Tabb debate if harmonisation is the best way forward

The government has opened the market to new credit providers but only in a limited way – for now

The unbundling of investment research is proving a headache for both the industry and regulators