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The European Commission's decisions regarding Greek banks provide an indication as to the approach it will take with the Italian financial sector

João Nuno Riquito Bruno Almeida Macau continues to face the challenges resulting from the 26 month-long dip in local casino revenue. However, amid expectations of a recovery, the city's gaming regulator is introducing structural adjustments to the gaming industry. These adjustments aim to encourage the diversification and sustainable development of Macau's economy.

Radka Sláviková Geržová Martin Ilavský A new law governing real estate expropriation came into force in Slovakia on July 1 2016. The new rules repealed the applicable part of the Building Act of 1976.

John Breslin It is a basic rule of common law that a court will not uphold a claim founded on an illegal act. This rule is important for internal and external counsel acting for financial service providers to keep in mind. Financial service providers operate in a highly regulated environment. Even exercising all due diligence, and with highly resourced compliance systems, mistakes and errors of judgement occur. Applying the strict common law approach can result in unjust and disproportionate results, particularly in cases of technical breach.

Yoshitaka Kato On April 28 2016, the Ministry of Economy Trade and Industry published a practice guide for the introduction of restricted stock as a new incentive award for directors and executive officers in Japan. The introduction of restricted stock is a common performance-based award in western countries. According to the practice guide, it will enable Japanese companies to globally acquire highly-talented management personnel and manage this personnel in a uniform way. Additionally, the Japanese Corporate Governance Code, which the Tokyo Stock Exchange published in 2015, provides that in order for management remuneration to operate as a healthy incentive for sustainable growth, the proportion linked to mid- to long-term results and the balance of cash and stock should be set appropriately.

Edgar Herrera In 2009, after a series of economic developments that focused mainly on the drive to increase international tax cooperation and transparency, Panama enacted a series of treaties destined to avoid double taxation and prevent tax evasion.

Carlos Fradique-Méndez Clara Robledo-Sánchez Colombia's fourth generation of toll-road projects is nearing completion. Since May this year, seven projects have announced that they reached financial close.

US counsel and industry feel that the regulatory clampdown on banks' use of internal risk models is likely to result in increased capital charges. The regulatory push back against internal models takes different forms. In the US, one such is the supervisory guidance on model risk management, better known as SR 11-7 and released by the Federal Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC) in 2011. While the guidance applies only to banks in the US, it's becoming a global standard.

The wait for the rulemakers' assessment of 12 major fund jurisdictions finally ended in July. Linklaters lawyers consider next steps

Plans to improve the standing of limited partnerships will be a boost for private equity funds operating in the UK. Here are the key changes