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Global monetary policy has set the stage for inflation. How effective are hedging strategies, and which tools will best protect portfolio assets?

Bertha Xiomara Ortega Since 2008, Nicaragua has been modernising the administration of labour justice. The Ministry of Labor started the modernisation with the implementation of an oral process for the fulfilment of certain formalities required before it, such as termination of employment contracts for justified cause, collective suspensions and business closures. The implementation of this oral process has been successful because it reduces and simplifies the processes. In the judicial field, the National Labor Court of Appeals was established in 2011 and has national jurisdiction to hear as the second and final instance all the individual and collective disputes of legal matters which arise from the employment relationship between employers and workers. The National Labor Court of Appeals was established to provide legal certainty to employers and workers; it is a specialised labour court that will unify the jurisprudence on this matter. Before its creation, labour jurisprudence was divided into different courts of the country; the authorities in charge of labour decisions were the civil courts of appeals of various jurisdictions.

The first Russian covered bond issuance to receive a rating higher than its issuer could prompt more use of the capital raising tool by the country's fragmented banking sector.

Carolyn Dong

The expansion of China’s Qualified Foreign Institutional Investor programme is set to further open China’s capital markets in 2013

Lord Peter Goldsmith The former UK Attorney General has called for a more flexible form of deferred prosecution agreement (DPA) than that proposed by the UK government. For DPAs to be an effective enforcement tool, prosecutors must be able to offer agreeable terms and incentivise companies to self-report, Lord Peter Goldsmith told IFLR. This could be difficult under the stringent approval process the government proposes to introduce as early as next year.

Nicholas Chang Linette Zhang Xiao Lin The Singapore central bank has proposed changes to the regulations of the Securities and Futures Act and Financial Advisers Act as part of its efforts to enhance and refine the country's regulatory framework. One of the key changes made by the central bank is the extension of the statutory obligations to ensure effective control and segregation of duties to mitigate conflicts of interest that may arise from the operations of a capital markets services (CMS) licence holder or a licensed financial adviser to the CMS licence holder or financial adviser, respectively. Under the present law, these statutory obligations are imposed on a director and chief executive officer of a CMS licence holder or a financial adviser only. The central bank found that the control failures are often not solely attributable to chief executive officers and directors. The proposed amendments therefore seek to extend these statutory obligations to CMS licence holders, together with their directors and senior management to ensure proper institutions and implementation of risk management and compliance systems.

Supervisors have taken an increasing interest in structured products recently. But regulating complexity isn’t easy

The National Commission on Indigenous Peoples (NCIP) recently promulgated the Revised Guidelines on the Exercise of Free and Prior Informed Consent (FPIC) and Related Processes (NCIP Administrative Order No 3, series of 2012), which repealed The Free and Prior Informed Consent Guidelines of 2006.

A welcome court ruling confirms that foreigners can rely on shareholders’ agreements to protect their investments in China