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The Cyprus Securities and Exchange Commission (CySEC) has issued a notification to entities it regulates and to participants in the market in general of the consultation process regarding a proposed amendment of the EU prudential rules for investment firms.

The Central Bank of the Philippines (BSP) has previously approved the rules and regulations governing virtual currency exchanges in the Philippines.

In February, the United States Court of Appeals for the Second Circuit reversed a 2014 decision that had found Jordan-based Arab Bank liable for intentionally supporting the terrorist group Hamas. The original decision was made after the bank was tried by a Brooklyn-based jury for providing financing to the group, which has been linked to several militant attacks against Israel in the early 2000s. It was the first time in the US that a bank was held liable civilly for violating the Anti-Terrorism Act, which lets US citizens seek damages from international terrorism.

Switzerland has long established itself as an attractive base for cutting-edge technological innovators, notably in the financial sector and related areas. Among other factors, this development has been supported by the Swiss legal and regulatory landscape. Swiss financial regulation in particular is characteristically principle-based rather than rule-based, allowing it to cope well with new, original business models. Furthermore, the Swiss authorities are welcoming of innovation reinforcing Switzerland's position as a successful financial marketplace.

Richard Hawkins Prakash Segaran In Australia HWL Ebsworth Lawyers and TressCox Lawyers announced their merger in January. The bulk of TressCox's lawyers will be joining HWL under the plan. Elsewhere Jones Day opened its fourth office in Australia in Melbourne. Three partners will relocate to head up the operation.

Katten Muchin Rosenman has opened a new office in Dallas. Leading the new operation will be six new corporate partners, all formerly with law firm Andrews Kurth Kenyon.

The increase in the regulation of securities and financial markets since 2008 will reach its peak in 2018 (with the revised set of Basel IV regulations arriving only, hopefully, in 2027).

Overcoming misguided criticism regarding their level of transparency and punitive character, these tools have proven essential to resolution

Plans for a European banking union have been a long time in the making. Since 2012, the EU has been in conversation with member states to strengthen the bloc against economic shocks. These conversations have intensified over the last few weeks but Germany's acting finance minister Peter Altmaier said that clarifications on risk sharing and reduction need to be made in order to proceed to the next stage.

Alex Baker, director of competition advisory boutique Fingleton Associates, finds issues with the UK’s targeted merger strategy and its wide margins of discretion