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Nobuaki Ito The Anti-monopoly Act of Japan was promulgated on December 13 2013 and is expected to come into force within 18 months (the specific date to be determined by way of cabinet order). The Act will abolish administrative appeal procedures by the Japan Fair Trade Commission (JFTC) for certain JFTC orders. In addition, a supplementary provision of the amended act provides that the government will, within one year of the promulgation date, consider changes to investigation procedures to preserve the rights of potential interested parties and maintain consistency with other administrative procedures, and will take appropriate measures as necessary in accordance with the discussions. In response to this, an advisory panel was set up and one of the main points for consideration is whether attorney-client privilege should be introduced for anti-monopoly procedures in Japan. In Japan, there is no attorney-client privilege in criminal or administrative investigation procedures. However, some assert that this should be granted in respect of anti-monopoly investigation procedures because: (i) companies providing information which involve communications with their attorneys in response to report orders from the JFTC may possibly be waiving attorney-client privilege that, with respect to these communications, would otherwise be recognised in foreign jurisdictions; and, (ii) granting attorney-client privilege to an extent similar to common law jurisdictions will not unduly hinder JFTC investigations and the JFTC can seek and collect relevant non-protected materials.

A new act on private flat renting (Act) came into force on May 1 2014. It is intended to improve the position of landlords and motivate investors to build private rental flats, and is a special piece of legislation compared to Civil Code. It means that rights and obligations of the landlord and tenant related to private flat renting will be governed by provisions of the Act. The Civil Code will be used only in cases not covered by the Act. The Act does not apply automatically; it is subject to the tenant's acknowledgement that the rental agreement is entered into in accordance with the Act. Hence, parties may still decide to use the legal regime under the Civil Code.

On May 23 2014, the Kenyan Parliament ratified the Double Taxation Avoidance Agreement (DTAA) signed with Mauritius in 2012 so as to make it effective as of January 1 2015. Mauritius will bring the DTAA into effect on publication of a Gazette notice – this is expected to take place before January 1 2015.

A disjointed regulatory framework has hampered efforts to oversee private investment funds. Here are the lessons that must inform the next round of rulemaking

Banks’ use of the template is not as guaranteed Private equity exits in China have been rare in recent years due to domestic regulatory issues and structural shifts in its economy. But limited partners (LPs) have called for their return. Exits from Chinese investments have concerned LPs since regulators closed the country's IPO market in late 2012. The government's plans to establish a more market-driven economy might also exacerbate exit difficulties.

Political concern and misunderstandings could threaten the budding US rental securitisation industry before it has a chance to take off.

Hudbay Minerals' hostile takeover of Augusta Resource reveals the rapid progression of defensive tactics in Canada.

I seems a little passé to be taking lessons from the financial crisis in 2014, almost six years after Lehman. But as balance sheets recover, it's worth remembering how we got there. And it all hinges on a change in a job title, apparently.

Banks’ use of the template is not as guaranteed The Asia Securities Industry and Financial Markets Association (Asifma) is drafting an umbrella agreement to supplement Hong Kong's comfort letter standard. It is expected to speed up negotiations between underwriters and auditors. The Hong Kong Standard on Investment Circular Reporting Engagements 400 (HKSIR 400), which was revised in December 2012, sets out the form and substance for comfort letters and bring-down letters. Since HKSIR 400's revision, Asifma has been having discussions with its members regarding an umbrella agreement to supplement the HKSIR 400 form for debt capital markets deals.

David Hernand, Paul Hastings In the final weeks of June, OTTERBOURG announced its hire of banking and finance lawyers Jeffrey Rosenthal and Thomas Duignan as partners in New York. The pair, who are certified public accountants, had been with Troutman Sanders following their departure from Greenberg Traurig in February 2013. Also in New York, KING & SPALDING recruited Drew Chapman as a partner from WilmerHale where he headed up the alternative investment team.