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Rodrigo Taboada Over recent years, the Nicaraguan financial system has progressively grown and strengthened. According to recent studies of the Nicaraguan Foundation for Economic and Social Development (FUNIDES) the financial sector growth rate is second only to the construction sector among the economic sectors that are included within the monthly economic activity index.

Elias Neocleous The Cyprus Securities and Exchange Commission (CySEC) has announced a new accelerated procedure in order to expedite the examination and determination of pending applications for authorisation.

Julian M Hashim Jeannie Goon Section 133A of the Companies Act 1965 (Companies Act) explicitly prohibits the provision of financial assistance to persons connected with the directors of a company, including an associated company. Paragraph 8.23 of the Bursa Malaysia Main Market Listing Requirements (MMLR) on the other hand provides that, except as otherwise provided under law and subject to certain pre-conditions, a public listed company or its non-listed subsidiaries may provide financial assistance in the form of advance, guarantee, indemnity or to provide collateral for a debt in favour of its associated company.

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.