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Mayer Brown's Alexandria Carr compares recent proposals to improve the resilience of EU credit institutions and the UK's Financial Services (Banking Reform Act) 2013

Europe's equity markets are humming. Despite uncertainty over Russia's Ukrainian exploits, volatility is down and listing windows are open for longer.

Ellen Snare,

The rules are a salvo against recognising home country rules

The public auction of the Australian diary company saw local and foreign bidders use regulatory processes to win board votes and stall competitors

Investment opportunities continue to increase. But uncertainties surrounding deal processes and risk mitigants are ever-present challenges

Who took home what from IFLR’s annual Asia awards

A new stock exchange geared towards startups is set to open in Chile in this summer. It should help the country achieve its goal of becoming a regional hub for startups. And its offering model could be exported to other jurisdictions.

European bank capital will come of age this year. Regulatory and market developments have combined to create long-awaited optimism around the asset class

Alexei Bonamin Ricardo Mastropasqua On December 20 2013, the Brazilian Exchange Securities Commission (CVM) issued a set of rules which regulate the rendering of services related to the Brazilian capital markets' infrastructure, as follows: (i) CVM Instruction 541 regulates matters regarding the centralised deposit of securities; (ii) CVM Instruction 542 governs the rendering of securities custody services; and (iii) CVM Instruction 543 regulates securities bookkeeping services and the issuance of securities certificates. In accordance with CVM Instruction 541, the centralised deposit service of securities comprises the following activities: (i) securities' safekeeping by the central depository; (ii) controlling the chain of ownership of securities in the deposit accounts maintained on behalf of investors; (iii) restricting practices related to securities' disposal by the ultimate investor or by any third party outside the central depository environment; and (iv) the handling of trading instructions and of incidental events that affect the deposited securities, with the corresponding records on the deposit accounts. CVM Instruction 541 does not apply to positions held in the derivatives market outside the central depository environment. However, it does apply to the establishment of liens and encumbrances on positions held in derivative agreements of any kind, provided that the central depository is also authorised to provide registration services to such agreements. CVM Instruction 541 also applies to financial bills and other instruments that are subject to the jurisdiction of CVM.