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Credit Foncier’s offering of €1 billion RMBS has been hailed as the deal that could reopen the French securitisation market

Investors may have been buoyed by a ruling that creates new liabilities for rating agencies. Herbert Smith Freehills' Harry Edwards explains why litigation in EU courts could have a very different outcome

Cleary Gottlieb Steen & Hamilton's Richard Cooper, Adam Brenneman and Jessica McBride analyse the new statute and explain why lawmakers have not overcome their scepticism of in-court reorganisations

Randall Barquero On May 20 2014, Law 9246 – the Law on Guarantees on Movable Assets (Law)– was published in the official Costa Rican law gazette La Gaceta. In approving this type of law, Costa Rica joins various other countries in the region which seek to give better financing opportunities to businesses, particularly small and medium companies. The Law is based on the Inter-American Model Law on Guarantees on Movable Assets prepared by the Organization of American States. It will allow the constitution of guarantees over specific items of movable property, or a generic group of these, as well as on inventories, equipment, circulating assets, and account receivables. The Government of Costa Rica, as well as the country´s legal and business sectors, have high hopes that the law will stimulate and increase the access to credit for companies in the productive sector of the Costa Rican economy that otherwise could not provide suitable collateral for normal credit structures.

Dealmaking is bouncing back, driven by sustainable and strategic transactions. But the new risks inherent in large-cap deals could rain on Europe's M&A parade

Carlos Fradique-Mendez Ana María Rodríguez As the IMF has pointed out, a country's position on anti-money laundering and terrorism financing may facilitate its integration into the global financial system and strengthen governance and fiscal administration. In line with this, Colombia has made recent developments regarding anti-money laundering and terrorism financing. In a new regulation for companies in the real sector of the economy, the Colombian Superintendence of Companies has set out certain obligations that must be observed by all legal entities that, as of December 31 2013, had an income exceeding 160,000 monthly minimum legal salaries (approximately $49 million). Before the issuance of Regulation 304, regulations against money laundering and terrorism financing (ML/TF) were focused on some specific industries of the economy (such as the financial sector, football clubs, courier and mailing entities, gamble and games entities, gold exporting and importing entities, securities transportation, and custom agencies). Apart from the financial sector, other industries had not been heavily regulated, meaning that existing regulations were not comprehensive and neglected to address important matters. This resulted in the Colombian authorities being urged to update the standards and introduce new rules to act against ML/TF.

The news that London has finally issued its maiden sukuk has everyone excited that Islamic finance could become a viable option for corporates in the western world. However, alongside the jubilation comes another round of inevitable discussions about competition between finance centres vying to gain the biggest slice of the lucrative shariah market.

Issuers in unregistered securities offerings deserve the benefit of an auditor’s comfort letter. Cadwalader Wickersham & Taft partner David Neuville explains why counsel should start pressing the point

Linklaters' Michael Bott and Ryan Ayrton analyse the new clauses that are helping bank syndicates navigate sanctions' impact complex financial instruments

Oene Marseille Emir Nurmansyah Indonesia's House of Representatives has approved a draft government regulation on National Energy Policy (the Energy Draft), which sets out guidelines for the country's energy policy through to 2050. The passage of this long-term roadmap of Indonesia's energy policy is not without controversy and as of June 2014, the draft regulation has not been signed by the President. The Energy Draft 's target is for the nation's electricity capacity to more than double by 2025 to 115GW (as of end 2013, the installed capacity is 47GW). The capacity is envisioned to further increase to 430GW by 2050.