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The new Labour Code is scheduled to be enacted in 2018 or 2019. The latest version of the draft law presented for solicitation of public opinion from April to June 2017 introduces some notable changes proposed by the government.

This is a continuation of the update in last month's briefing. The exchange of information by the Macau SAR under Law 5/2017 – which established the new regime for the exchange of information with foreign entities on tax matters – may also occur upon a request being received from a foreign country which is a contracting party to an international agreement or convention on double taxation or on prevention of tax evasion. This is, however, subject to reciprocity: the Macau SAR will only process requests received from countries that would admit a similar request if made by the Macau SAR.

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

The EU member state has amended its securitisation law to boost transactions regarding impaired receivables

On October 1 2017, the amendments to the Foreign Exchange and Foreign Trade Act will take effect. The Act aims to develop foreign transactions appropriately, and maintain peace and security in Japan and other countries through providing for minimum necessary control and coordination of foreign transactions.

The worst economic disaster since the great depression of 1929 took American and European banks by storm in 2008. The US, EU and Russia, among others, had to step in to save some of their banks from bankruptcy. Even certain German banks, symbols of the country's strength and prosperity, were on the verge of collapsing. Against this backdrop, the purpose of this briefing is to provide a high-level summary of the mechanisms in place to cope with the bankruptcy of a foreign bank in Switzerland.

A recent wave of public offering activity points to a re-opening of the country's equity markets to foreign investment

The rescue of two regional Italian lenders was carried out as a liquidation, not a resolution, which could undermine the credibility of EU rules on bank failures

Saidi Othman Yakubu and Timothy Kyepa, Yakubu and Associates Chambers

Theodore Basta, Elliot Ganz and Bridget Marsh speak with IFLR about the US loan market and its current defining trends