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On July 13 2017, Brazil enacted Law 13.467 which changed many aspects of Brazilian labour and employment law (the Amendment).

The magnitude of the December 2016 Odebrecht corruption scandal continues to unfold. The Ruta del Sol, Sector II agreement, one of Colombia's largest toll road projects which was involved in the scandal, has now been terminated by mutual agreement following an order from the Superintendence of Industry and Commerce. Some queries remain unresolved regarding the termination payment under the formula agreed by the parties. In addition to that particular case, lenders now have several concerns as to the consequences of a concession agreement being declared null and void due to kickbacks in the bidding process.

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

It was only a matter of time until the benchmark was set to come to an end. But what could possibly replace this much criticised rate? IFLR finds out

There are still no globally-accepted environmental and climate finance standards in spite of issuances rocketing. But some initiatives are helping

In early September it emerged that fewer than 10 UK-based banks had applied for EU licences to continue trading after Brexit. According to Reuters, the sloth pace is concerning to those at the European Central Bank (ECB), who are beginning to think that either banks are ill-prepared (unlikely), or that there's a loophole in the legislation (slightly more likely).

The publication of the Code has raised more questions than answers, especially when it comes to how it interacts with EU legislation

Automatic and autonomous machines and systems have multiple applications across the financial sector but the regulatory implications cannot be ignored

Both jurisdictions continue to invest heavily in initiatives that support the mutual development of their financial markets

The Cyprus Securities and Exchange Commission (CySEC) has issued a summary of the changes to passporting arrangements and conditions governing the provision of investment services and activities by third country firms. These changes will apply as from January 3 2018 under Law 87(I)/2017, which transposes the Markets in Financial Instruments Directive (Mifid) II into Cyprus law. The scope of Mifid II is wider than the existing regulatory regime and the Mifid II passporting arrangements will apply to a broader range of activities, services and financial instruments than before. CySEC advises all the investment firms it regulates to review their passports and authorisations to determine whether they require amendment under the scope of Law 87 (I)/2017 and, if so, to submit the requisite notifications using the forms provided on CySEC's website.