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The Supreme Court of Singapore’s Justice Aedit Abdullah discusses the country’s recent overhaul of its restructuring and insolvency framework

The Macau SAR Legislative Assembly has recently approved the draft of a new Bill to reform the SAR's arbitration framework by unifying and modernising the legislative regimes for both domestic and international commercial arbitration. The draft Bill proposes this will be done by matching the practices and standards defined under the Model Law on International Commercial Arbitration of the United Nations Commission on International Trade Law.

New rules were incorporated into the Commercial Code as of January 1 2018 that broaden the liability of the statutory bodies of corporations and members of trading companies.

The Securities and Exchange Commission (SEC) issued the new implementing rules and regulations (IRR) of the Investment Company Act (ICA), replacing the 1998 ICA Rule 35-1. The new set of rules, which took effect on January 26 2018, aims to develop the Philippine capital markets and help prepare investment companies to qualify for and compete in international cross-border transactions by aligning the rules with global standards and practices.

In December 2016, the government approved the principles for the establishment of the first three special administrative-economic units (SAEUs) in Vietnam, including Van Don (Quang Ninh), Bac Van Phong (Khanh Hoa) and Phu Quoc (Kien Giang). According to the final draft of the law on SAEUs which is scheduled to be voted upon by the National Assembly in June 2018, each SAEU will focus on different specialised industries:

Ashurst is set to launch a new office in Luxembourg, in October. Partner Isabelle Lentz, the head of the firm’s Luxembourg desk, founded in 2011, will be managing partner of the office.

Are common financing terms becoming the norm in the world’s main credit markets?

The US financial system is under threat, and experts believe that the structured finance space is likely to be the cause of the next financial crisis

China's central bank governor Yi Gang announced in April that China would implement six steps to open up the financial sector by the end of 2018. Since then, a number of measures have been taken to progress towards this goal including increased caps on the foreign ownership of securities brokerages, investment funds, futures firms and life companies. A move towards the final removal of caps can be expected within three years. Foreign funded banks can also be allowed to underwrite and sell government bonds in China. Other plans include increasing accessibility to China's equity markets such as through the London-Shanghai Stock Connect. Foreign players like Nomura, JP Morgan and UBS have begun to raise their shareholdings in China. JP Morgan has applied to set up a majority ownership securities firm while UBS has raised its shareholding proportion in UBS Securities from 24.99% to 51% and Nomura has announced a plan to set up a holding firm.

The UK is opening up the listing process. It may encounter difficulties along the way