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As of January 1 2017, the amendment to the Slovak Commercial Code introduced a new corporate form – the simple joint-stock company (JSA). It is a simpler form of the joint-stock company with some specific features, including: reduced share capital of a minimum of just €1 ($1.20); the possibility of a one-person board of directors; the ability to issue various classes of shares; and, the ability to agree on an exit from the company. Two new statutory concepts were also introduced: the shareholders' agreement and option rights in the sale of shares.

Will 2018 bring yet more uncertainty, or will the global economy come back down to earth?

Advisory services for securities have been a topic of discussion and concern for local regulators and supervisors, as well as for local and foreign market participants, because of the breadth of the existing applicable law and the various legal restrictions involved. Nowadays, advisory services for securities fall under one of the following descriptions: (i) a securities' intermediation activity, (ii) a duty requested from local securities' intermediaries; or, (iii) an activity not regulated by local regulations (which only applies for some activities undertaken within M&A processes and similar investment banking transactions).

Brazilian closed-end funds offer an advantageous investment platform since their earnings are only taxable upon distribution to investors. Conversely, income earned by Brazilian open-end funds is taxed every six months, the so-called come-cotas.

There have been many large non-performing loan (NPL) sales in Spain, particularly in the past five years. The trigger was undoubtedly the setting up of the Spanish bad bank (Sareb) and the transfer of €51 billion ($61 billion) of impaired assets (loans with mortgage collateral and real estate properties). Since 2012, Sareb has been very active selling NPL portfolios to institutional investors through competitive sale processes and there is still a nine-year period left to sell them all (with more than €39 billion still remaining). More recently, Sareb has launched an online platform so investors can also bid for the NPLs on an individual basis.Borrowers are also becoming increasingly interested in acquiring debt at a discount through funds from alternative providers.

Since the Republic of Panama and the Popular Republic of China (PRC) established a diplomatic relationship back in June, much has been speculated as to the effect that this bilateral understanding will have in the dynamic economy of the Republic of Panama.

Dentons' international expansion shows no signs of stopping with the firm launching a new office in Melbourne. The new location will be headed up by Nick Stretch who joins the firm with a team of three other partners.

As early as March 2014 the Cyprus Securities and Exchange Commission (CySEC) alerted potential investors to the risks associated with investment in virtual currencies or contracts for difference (CFD) linked to them. Its recently-issued circular C244 dated October 13 2017 sets out the conditions Cyprus investment firms must satisfy in the event they provide investment services in respect of such products to safeguard investors' interests.

On October 25 2017, the Law of Secured Transactions (Law 936) came into force with the purpose of stimulating access to credit for individual traders, small and medium enterprises, and other institutions that due to the nature of their assets were not subject to financing at competitive interest rates.

On May 26 2017, an amendment to the Civil Code was enacted and will be enforced within three years from the promulgation date of June 2 2017. The aim of this Amendment is to comprehensively reform the law in respect of obligations in the Japanese Civil Code. Although many of the provisions were revised based on existing case law and commonly accepted theories in Japan, this Amendment will have a significant effect on Japanese legal practice because: (i) it covers a broad range of legal issues, which include statutory interest rates, statutes of limitations, default, cancellation of contracts, damages, assignments of claims, set-offs and guarantee obligations; and, (ii) it introduces some new rules. This article covers some of the new rules introduced by the Amendment.