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Tough economic penalties against Russia for its actions in Crimea look set to have a dramatic – and positive – impact on the country's local banks.

German car manufacturer Daimler became the first foreign corporate to sell Chinese onshore bonds, so-called panda bonds, in March. But lawyers believe that unfavourable pricing will limit future deals.

Four months after the final Volcker Rule was published, one question still looms large: will banks implement the proprietary trading ban globally, or will they try to make use of the loopholes.

Is the US leverage ratio still just a backstop? On April 8 the US Federal Reserve issued its final ruling on the enhanced supplementary leverage ratio (ESLR) for the country's eight largest lenders. The two percent increase over the Basel recommendation has banks considering ways to adjust their portfolios, with the possibility of adding risk to maintain profitability. The final rule is not a deviation from the proposal, but is still unwelcome and could impact banks' global competiveness. The eight largest banks will now be required to meet an ESLR of five percent from 2018 and subsidiaries are recommended to have a six percent ratio.

Steven Francis, Baker & McKenzie Germany's legal market saw a fair amount of activity in the past four weeks. Berlin, a city which, as a burgeoning hub for domestic high-tech start-ups and the home of the government, has enticed Berwin Leighton Paisner, Herbert Smith Freehills and Morrison Foerster into establishing a presence there recently. In March, however, KING & WOOD MALLESONS SJ BERWIN revealed it would be leaving the city. Two of the office's three partners, Frank Vogel and Jan Dirk Heerma, are departing the firm to launch a venture capital boutique. Early this month, Eversheds German arm, HEISSE KURSAWE EVERSHEDS announced it would be launching a base in Germany's capital while simultaneously confirming that the two firms, which currently function as an association, were discussing a merger and full financial integration.

Counsel reveal what they believe needs to change in London’s liquid but imperfect equity market

A Japanese Bitcoin exchange's Chapter 15 filing may set a precedent for US Bankruptcy Court recognition of international internet company restructurings.

The evolution of outbound M&A strategies has much in common with that of American football. Buyers need a quarterback who can manage a deal safely

Western Australia's Roy Hill iron ore project marks an important step forward for limited recourse financing for mining projects.

Sheela Moorthy, Norton Rose Fulbright Tony Harrington, Minter Ellison One of last month's biggest moves saw Vinson & Elkins' former China co-head and energy partner David Blumental join LATHAM & WATKINS. Blumental made the move just six months after the US energy firm ended its operations in Shanghai. In Beijing, K&L GATES hired corporate partner Frank Voon from Allen & Overy. Voon is experienced in cross-border M&A, corporate reorganisations and joint ventures.