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Soonghee Lee In Korea, most securities, except for electronic short-term bonds, are issued in paper form and managed through a central deposit. As of January 2014, however, 31 OECD (Organisation for Economic Co-operation and Development) countries and China have adopted an electronic securities system, whereby securities are not issued in paper form and registration in an electronic registry is performed instead. Under this electronic securities system, the rights of securities holders are recognised, and the transfer, establishment of security over and exercise of rights are performed. The adoption of the electronic securities system allows cost savings compared with the issuance of securities in paper form, and it also removes risk factors resulting from the custody and management of securities in paper form. Further, through the foreclosure, in principle, of tax evasion, money laundering and other illicit transactions, the adoption of the electronic securities system is expected to result in the adoption of real-name securities transaction and holding systems; it is also expected to contribute considerably to investor protection and the formation of a fair trading order through prompt provision of information on the issuance and circulation of securities. As such, the National Assembly of Korea is discussing legislation for the adoption of an electronic securities system in order to improve capital market efficiency by facilitating the issuance and circulation of, and exercise of rights with respect to, electronic securities.

Daniel Futej Rudolf Sivák A new legislative proposal which restricts the acquisition of agricultural land in Slovakia by foreign persons was submitted to the Slovak Parliament. Even though it has not been approved yet (it is a governmental draft and the government has majority in Parliament), it does deserve attention. As of May 1 2014, a limitation on the acquisition of agricultural land by foreign natural persons from EU states no longer applies. In this respect, the Slovak Government prepared a draft with the aim of regulating the acquisition of agricultural land. The new legislation will ensure that agricultural land is acquired for agricultural purposes and not as speculative purchases.

The region’s regulators are proving indecisive on FDI reforms, but forging ahead with new technologies like cloud computing

Regulatory and market developments will rein in the convergence of cov-lite, term loan B and high-yield terms across Europe and the US

Growing hype over fleeting market trends should not overshadow the regulatory and finance developments that will outlive this stage of the cycle

Daniel Hayek and Alexander Flink of Prager Dreifuss discuss the differences between German and Swiss culpa in contrahendo liability in M&A

The clandestine nature of high-frequency trading makes it nearly impossible to police. Thankfully a new, fairer market is emerging

China’s new rules for domestic companies selling offshore bonds will benefit issuers, but credit enhancement structures will remain crucial

A new report by the Australian regulator has highlighted concerns over disclosure of material information

African Development Bank’s Tas Anvaripour explains how Africa50, the continent’s new project finance platform, will plug funding gaps and improve project bankability