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Doo-Soon Choi In Australia, WHITE & CASE opened two new offices in Melbourne and Sydney after raiding Herbert Smith Freehills for an eight-partner team. This includes Asia-based finance head Brendan Quinn, regulatory partner Tim Power, projects partners Andrew Clark, Joanne Draper, Jared Muller, Alan Rosengarten, Josh Sgro and Joel Rennie. Elsewhere independent GILBERT + TOBIN hired partner Justin Mannolini in Perth. He is a former Macquarie Capital investment banker.

Managers could benefit from the extension of the current EU passporting regime. Work is underway to develop a suitable regulatory framework

In the aftermath of the 2009 global financial crisis, international financial regulatory bodies such as the Basel Committee on Banking Supervision scrambled for answers to one key question: what caused the crisis. Although there were many causes, regulators uniformly concluded that a lack of sound corporate governance practices was one of the root causes of the crisis. It was said that boards of directors that were asleep at the helm, so-called runaway CEOs, figurehead audit and risk committees, and a lack of checks on moral hazard, were to blame for many of the problems.

Andrew M Garbarski In a recent milestone decision dated May 24 2016 (decision 6B_503/2015), the Swiss Federal Supreme Court (SFSC) held, for the first time, that the duty of financial intermediaries to report suspicions of money laundering may extend beyond the end of the relevant business relationship.

A Commission non-paper seen by IFLR, which sets out a framework whereby contingent convertibles (CoCos) would be given greater protection, has been heralded as a welcome clarification for investors. Under the plan, CoCos are given priority if a bank's maximum distributable amount (MDA), including dividends and bonuses, is under pressure.

The China Securities Regulatory Commission (CSRC) has conducted a sweeping crackdown on illegal private equity fundraising activities onshore, but rules and regulations specifically tailored to address them remain outstanding.

Nguyen Thi Thanh Huong Cheaper labour and long-working hours are advantages for developing countries wishing to attract foreign investment. Vietnam is one Asian country which has these advantages. According to Labor Code 2012, a normal working day is eight hours-long, which amounts to 48 hours a week. The current minimum wage for low-skilled employees in private companies ranges from VND2,400,000 to VND 3,500,000 ($109 – $159).

Islamic bonds benefit buyside and issuers but are hard to find in western capital markets. Several things need to be done to kickstart the global market

The rush to P2P loans has been spurred by a slump in ten-year government bonds Korea's Financial Reform Committee has set up a task-force to draft industry guidelines aimed at protecting investors from fraud by peer-to-peer (P2P) lenders, following several high-profile cases in China and the US. However, this approach has been deemed insufficient because the guidelines are not legally binding.

Regulatory headaches Insanity in individuals is rare, but in groups, parties, nations and epochs, it is the rule, according to Nietzsche. Individually we think we're smart: in aggregate we move with the herd. As a quote, it probably does quite well to describe our current economic and financial state of affairs too.