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Joseph Condo In a major shakeup in central America, global law firm DENTONS announced a proposal to open offices in central America through a combination with MUÑOZ GLOBAL. The Costa Rican-based Muñoz brothers, José Antonio Muñoz and Pedro Muñoz, have split from leading firm Arias & Muñoz, which will now be known simply as ARIAS. Muñoz Global will also have offices in Panama and Nicaragua. Gisela Alvarez de Porras will act as managing partner of the Panama office, having previously acted as managing partner of Arias & Muñoz's Panama office, but left the firm in April 2016 to serve on an Advisory Committee of Independent Experts for the Government of Panama to review financial practices. The partnership for the Nicaragua office is yet to be announced.

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

Greece is amending parts of its out-of-court workout regime but the country’s economic situation may prove an obstacle to their successful implementation

Some EU member states want to attract funds’ business under AIFMD, but practical challenges remain

João Nuno Riquito Rui Filipe Oliveira In line with the recent regulatory tendency to focus on the real estate property market, the Macau government has prepared new legislation to regulate the management of a condominium's common areas.

Elias Neocleous The Cyprus Securities and Exchange Commission (CySEC) recently issued a draft circular for consultation with Cyprus Investment Firms (CIFs) and other stakeholders. The paper sets out the proposed changes to, and clarifications of, the detailed procedures that CIFs must follow to fulfil their obligations to safeguard clients' funds. The consultation period ran until November 18 2016; the new guidance is expected to be issued early in 2017.

Carlos Fradique-Méndez Sebastián Boada Morales On September 30 2016, the Colombian Central Bank (Banco de la República de Colombia or BRC) issued External Regulation 14. It eliminated the obligation to file a foreign exchange declaration through a foreign exchange intermediary in respect of the remittance of funds under an exchange operation with a Colombian resident.

The US president-elect's position on regulation has been debated extensively. But his position on global US involvement, free trade and future policies is less well-known

Fabiola Cammarota de Abreu Ricardo Lara Gaillard In August 2016, the tribunal of the Brazilian antitrust authority (the Administrative Council for Economic Defense or Cade) reversed a previous decision of its General Superintendence. This previous decision held that down payments violated the so-called gun jumping rules laid down in Cade's guidelines. In doing so, Cade issued its first precedent on the legality of a down payment and the payment of reverse break-up fees in M&A transactions, vis-à-vis the current gun jumping regulations.

Yuta Mizuno Amendments to the rules concerning the treatment of employees under certain types of corporate reorganisations came into force in Japan on September 1 2016.