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Common terms agreements are bringing together syndicate banks that would not ordinarily be able to participate together. Hogan Lovells' Rustum Shah and Faraz Naqvi explain how

New issuing and trading standards are a key part of Dubai’s strategy to increase global investors’ confidence in sukuk structures

Corporate governance failings, rather than inadequate capital reserves, are shaping up to be banks' biggest vulnerability in future stress tests.

Pfizer/AstraZeneca is just the tip

The offshore RMB market’s future? As international financial centres compete for the status of offshore renminbi hub, some market participants fear a rise of transaction risk due to the currency's lack of a natural home. Trades between two US dollar-denominated accounts are cleared in New York while onshore renminbi trades are cleared via the China National Advanced Payment System. But offshore renminbi can be cleared in Hong Kong, Taiwan and Singapore. London and Frankfurt will also gain clearing capabilities soon.

The lighter side of the past month in the world of financial law

Clean Energy Finance Corporation's (CEFC) loan to an Australian wave energy company introduced a new financing structure for projects that are not yet commercialised.

Kartick Maheshwari, Khaitan & Co Mabel Lui, Winston & Strawn In Hong Kong, WINSTON & STRAWN hired a four-lawyer team from DLA Piper that included the firm's Asia corporate head Mabel Lui. DLA PIPER is relocating M&A partner Paul Chen from its Silicon Valley office in June to take over Lui's leadership role. Harry Prabawa from Prabawa & Hayya in Jakarta has joined HANAFIAH PONGGAWA & PARTNERS as partner. Prabawa specialises in World Trade Organisation rules and disputes and will head the firm's international trade practice group.

Antonio Felix de Araujo Cintra The Brazilian Securities Commission (the CVM) and the Brazilian Government have recently proposed and enacted some regulatory changes aimed at incentivising the entry of small and medium-sized local companies into the stock markets. These efforts are the result of a long and focused campaign by several players who believe that the development of financing alternatives for small and medium-sized companies is key for the future development of the economy in Brazil. Instruction CVM number 391, which governs the formation and organisation of private equity funds (Fundos de Investimentos em Participacoes, or FIPs), has been amended. The main change here will be an increase in investments by FIPs in companies listed in a special listing segment of the Brazilian Stock Exchange, known as Bovespa Mais, which is directed to small and medium-sized companies. The amended rule now provides that FIPs may invest up to 35% of their portfolio in companies listed in Bovespa Mais, without being subject to the general rules governing FIPs that require them to always ensure that they have an effective influence on the invested company's management.

Rodrigo Taboada On September 20 2013, the Superintendence of Banks of Nicaragua approved the Regulation for the Transparency of Financial Operations. The Regulation aims to promote the disclosure of accurate financial terms to users of financial services, allowing them to make a knowledgeable choice between financial alternatives and financial institutions. This also includes insurance services and insurance companies.