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The FCA's continued restrictions on the selling of CoCos is leading banks to follow the spirit rather than the letter of the law on other securities

Record-keeping requirements risk swamping some companies

A Hong Kong tribunal started a preliminary hearing last month, involving a US short seller called Citron Research. So far, so standard: the practice of short selling itself has been a part of markets since the 1600s and Kong Hong has historically frowned upon it.

Local regulators’ and courts’ approach to successor liabilities means distressed M&A opportunities may not be a sweet as they first appear

US activist investors are now moving into Australia. But its strict association rules could be a hurdle to their success.

The aftermath of the financial crisis has led to a lot of changes, and they are not over yet. It's inevitable for countries and markets to look to what areas need the most attention and improvement. But they should also focus on the regulators who have been at the centre of these reforms and who themselves require some updating.

Regulators' desire for greater market disclosure seems to intensify every year. More data, be it for the benefit of investors or the regulators themselves, seems to be viewed as a key way to prevent the errors of years gone by. On paper, it's a view that's hard to argue against. Transparency should enable better buyside decisions, greater market oversight, and more self-imposed discipline by those who may have been tempted to game the system. In reality, the obvious downside is the massive expense – to be borne by the industry alone – of setting up the necessary compliance, record-keeping and data-gathering systems.

Banks may be forced to rethink their internal models for valuing complex assets as regulators seek greater comparability across products and financial institutions.

Where BITs belong? Political instability is slowing investment into Africa's most promising markets and bilateral investment treaties (BIT) are doing little to ease concerns, according to the general counsel of a global conglomerate. The market is, however, working to address more tangible macro risks such as regime change and government intervention.

Stephanie Tang Dacheng's historic tie-up with Dentons started 2015 as a year for PRC firms to make global inroads. Yet the past month has been one for international names to move ever closer to China. JONES DAY brought in former China National Development and Reform Commission official Xue Qiang to its antitrust and competition law practice in Beijing. Meanwhile SHEARMAN & STERLING boosted its M&A practice with the addition of Stephanie Tang who joined the firm's China M&A group from Kirkland & Ellis. In Hong Kong FRESHFIELDS BRUCKHAUS DERINGER poached magic circle rival Linklaters' Asia-based US securities head David Ludwick. DEBEVOISE & PLIMPTON welcomed Herbert Smith Freehills' former Asia managing partner Mark Johnson to boost its white-collar crime and regulatory offering in the region.