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Patricia A Solórzano On January 12 2015 Honduras enacted the Agreement with Government of the United States of America to Improve International Tax Compliance and to Implement FATCA (Agreement). On February 6 2015, the Guidelines for the implementation of the Agreement, issued by the National Banking and Insurance Commission (CNBS) became enforceable. Under the Agreement and Guidelines, for 2014, Honduran financial institutions must obtain and exchange from the US Reportable Accounts the following information: (i) name, address, and US taxpayer identification number (TIN) of each specified US person that is an account holder of such account; (ii) account number; (iii) name and identifying number of the reporting Honduran financial institution; and, (iv) average monthly account balance or value during the relevant calendar year.

Banji Adenusi Bisola Olusoga As part of efforts aimed at bolstering investor confidence in the Nigerian capital market, the Nigerian Securities and Exchange Commission (SEC) recently released new rules on the operation of a National Investment Protection Fund (NIPF). The SEC released the rules in exercise of its powers under section 13(k) of the Investment and Securities Act (ISA) 2007, and they are geared towards providing a baseline guarantee for compensating investors whose losses are not covered by the Investment Protection Fund (IPF) of securities exchanges and capital trade points in the country. The NIPF provides a cover for investors who suffer losses on investments arising specifically from the bankruptcy, insolvency or negligence of capital market operators (CMO), in addition to defalcations of a CMO or its officers in relation to funds or assets in its custody. The fund is, however, only applicable to transactions regulated by the SEC, while an investor who colludes with a CMO in a wrongful act is disallowed from benefiting from it. In 2013, the Nigerian Stock Exchange (NSE) set up an IPF for investors on the NSE, which provisions mirror those of the SEC in some respects.

On January 16 2015, the Federal Department of Finance (FDF) published the revised wording of the Expatriate Ordinance (ExpaV, SR 642.118.3) which will enter into force on January 1 2016. The new ExpaV confirms Switzerland as an attractive place for employees from abroad, due to the higher enforceability of the deductions provided for in the ExpaV. According to the revised ExpaV, the following amendments may be considered the main changes compared to the existing law.

Suspected fraud at a Qingdao's metals warehouse has tightened lenders’ focus on KYC checks and due diligence in trade finance transactions

Private equity funds and their investors are sensing opportunities in India, prompting a renewed focus on country-specific funds

Troubled Chinese property developer Kaisa defaulted this week on its 12.875% notes due 2017 and 8.875% senior notes due 2018. It’s still unclear what this means for bankruptcy in the country

Sean Doherty, general counsel at Bain Capital addresses the biggest concerns for the US private equity market

The government’s sale of its 41.5% stake in Habib Bank reflects increasing investor interest in the frontier market

Trying to pinpoint the next black swan event is, by definition, nearly impossible. But liquidity shortages and market volatility could be possible causes

Allen & Overy was named the international firm of the year at last night's 16th annual IFLR European Awards on April 16