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Işıl Ökten Erdi Yıldırım Sukuk issuances were regulated under the Communiqué on Lease Certificates and Asset Lease Companies Serial III, number 43 (Former Communiqué) dated April 1 2010, by the Capital Markets Board of Turkey (CMB). Three years later, the CMB published the new Communiqué on Lease Certificates III-61.1 (New Communiqué) dated June 7 2013, which introduced new types of sukuk (lease certificate) issuances.

Daniel Futej Rudolf Sivák An amendment to the act on public procurement came into force on November 1 2015. One of its goals is to make public procurement transparent through the creation of a register (the Register) of beneficial owners – those who take part in public procurement. Public procurement is particularly understood to mean the procurement of goods and services by governmental agencies, municipalities and other authorities that are publicly financed. The Register should allow identification of the real owners (beneficial owners), and not just the ostensible (paper) owners, of entities that participate directly or indirectly in the public procurement process. The Register does not apply to other forms of governmental expenditure, such as state subsidies, transfers of state property, contributions from European funds, or claims made against the government.

Masanori Tosu On November 25 2014, an amendment to the Pharmaceuticals and Medical Devices Law (the Law) came into effect and introduced important changes to Japan's medical products regulatory regime, including the establishment of regulations for regenerative medical products (for example, regenerative medicines using iPS cells). Indeed, since the Minister of Health, Labour and Welfare issued the first marketing authorisations for two regenerative medical products on September 18 2015, the medical products business in Japan and its regulation have received a good deal of attention.

Stikeman Elliott’s Jeffrey Singer explains why, until recent reforms are approved, M&A parties must play according to the existing and proposed rules

Paul Volcker, former Federal Reserve chairman, spoke exclusively to IFLR about his eponymous rule last month. He said the Volcker Rule, a part of the 2010 Dodd-Frank Act, has carried out his basic intent: banning federally-backed banks from speculative activity. But Volcker believes that more clarity is needed over the regulation.

Something for boards to aspire to European boards are finally prioritising the implementation of defence plans against activist investors as volumes look set to break records.

Still with Dentons, the headline in Asia last month was that it would be adding more numbers to its headcount when it agreed merger terms with GADENS in Australia and RODYK & DAVIDSON in Singapore. This follows a number of other mergers the firm has pursued across the globe in the last two to three years.

Counsel in China have revealed a lack of enforcement of the country's amended Company Law by local officials, as the central government seeks to ease restrictions on foreign investment enterprises (FIEs).

GDP-linked warrants issued as part of Ukraine's $18 billion debt exchange contain unprecedented creditor protections, making them the closest thing possible to having equity in a country.

So, which is it to be? Liquid bond markets or highly capitalised banks?