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  • Consumer protection has become a hot topic in Slovakia in recent years, particularly when it comes to unfair business practices used by sellers. To address this issue, the Slovak Parliament passed a new piece of legislation, the so-called Distance Selling Act, which took effect in June 2014. It will increase the level of consumer protection and legal certainty in the relationship between consumers and sellers. In this article, we would like to inform you on the most important changes the new legislation introduces. The Distance Selling Act applies to sales that are made through any form of communication over a distance or without any personal contact between the consumer and the seller. One of the most significant changes is the extension of the time period during which consumers can cancel the purchase contract, which is now 14 calendar days as opposed to the seven-day period under the old regime. In addition, the consumer now has the right to retain the goods until the seller refunds the money already paid as a deposit.
  • ICMA explains how it is coordinating a wide industry effort to promote the emergence of a pan-European market
  • As the debt saga continues, attention has turned to its ramifications for future bond offerings and restructures
  • TPG’s acquisition of up to 75% of Union Bank of Colombo is Sri Lanka’s biggest private equity deal. It also signals increasing interest in the south Asian country
  • The restructure of Suzlon Energy’s foreign currency convertible bonds is the largest in India to date. It also demonstrates that offshore bondholders and onshore lenders can reach a solution together
  • Investors must push back against Asia's weakening high-yield covenant packages. Although investor protections remain robust – especially compared to what's seen in the US and Europe – the region's legal frameworks are much less established.
  • Proposed changes that empower minority shareholders could have unintended side effects. Ogonna Chinedu-Eze, Ozofu Ogiemudia and Folake Elias-Adebowale of Udo Udoma & Belo-Osagie explain why
  • The uptick in small business administration (SBA) licences suggests banks are increasingly taking advantage of the exception to the Volcker rule's ban on proprietary trading, which allows them to make investments through Small Business Investment Companies (SBIC).
  • There is speculation that the European Commission's delay in approving the liquidity coverage ratio (LCR) means it will reflect the outcome of the Bank of England (BoE) and European Central Bank's (ECB) consultation on reviving securitisation.
  • The European Central Bank (ECB) has quite the job on its hands. Tasked with supervising the eurozone's largest 128 banks in November, the central bank needs to prove itself.