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As regulatory capital requirements take their toll, fewer banks are interested in transactions with low participation rates

The practice of junior syndicate banks signing away power of attorney privileges on Hong Kong IPOs is causing increased concern among counsel in the city

The recently-passed French legislation permits non-bank lending within established commercial arrangements. Stephenson Harwood's Alain Gautron and Michel Bauer analyse its further exceptions

Securities need a more standardised labelling procedure Securities research firm Morningstar has proposed that all managed products sold to investors should have increased and equivalent disclosure standards. The push comes as the Securities and Exchange Commission (SEC) attempts to introduce increased disclosure for mutual funds. In a comment letter sent to the regulator, Morningstar expressed its support for adding transparency and comparability to the mutual fund market by changing the ways securities are labelled, and creating standard metrics for calculating common investor considerations like duration.

The Securities and Exchange Board of India's (Sebi) new listing regulations have been welcomed by local lawyers, but more clarification is needed.

Volatility and a lack of liquidity in Aim-listed stocks has sparked growing interest in UK Pipes [private investment in public equity]. But deals today may not be indicative of a long-term trend.

Bernd Langeheine

Since the first drafts of post-crisis reforms appeared in government corridors, many have feared that lawmakers are too focussed on regulating the past. Some of the initiatives thrashed out during those first months – the G20's 2009 Pittsburgh agreement on centralised clearing for OTC derivatives, for example – are so sensible that their pre-2007 regulatory situation now seems inconceivable. But others – like the EU's clampdown on repo – suggest they are so intent on preventing yesterday's crisis that making, often misguided, changes at the margins is considered worthwhile use of their time.

Asia's regulators are taking an increasingly proactive stance towards fintech development and its evolution. A group of Chinese authorities has come together to announce a set of regulations in this area, while the Monetary Authority of Singapore (MAS) has recently announced that it will invest in developments in this space.

US banks have too many A study by the New York Federal Reserve has revealed growing complexity in the way banks maintain foreign subsidiaries, but not a corresponding increase in risk. The number of legal layers between a bank subsidiary and its top holder has expanded from three in the 1990 to an average of five in 2014. According to data from the National Information Center (NIC), the largest separation between a US bank and a bank subsidiary was 16 layers, and 19 for a non-bank subsidiary.