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What does the Canadian government’s initial rejection of the Petronas/Progress deal signal for SOE investment, and Cnooc’s bid for Nexen?

At some point during most people's childhood, there was an evil bogeyman lurking under a bed, or hidden in a closet, ready to make its presence known at a moment's notice. The bogeyman of the day for many market participants has become the commodity pool issue. This issue arises because the Dodd-Frank Act amended the definition of "commodity pool", making it broader by including any enterprise operated for the purpose of trading in swaps. Trading in swaps may seem like a high bar, but there is little guidance as to the type of entity that constitutes a commodity pool and some of that guidance suggests that entering into a single swap may be sufficient to trigger the registration requirement.

Are banks best-placed to assess their risks when calculating regulatory capital charges?

The circulation last month of compromise terms relating to the establishment of a European banking union marked the latest attempt to break a stalemate in member state discussions on the proposals. But EU lawyers believe such a union will be ineffective without treaty change.

Derek Baird

UK lawyers have called for banks and law firms to consider recognising redenomination as a risk factor in deal documentation.

Jamie Benson

Less foreign listings, a stricter SFC, and global regulations have all threatened Asia’s growth story. These are the market developments that will maintain its momentum

Foreign investors will soon be landing

More effective than it looks