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In this exclusive interview, the regulator's former acting head talks about his successor, the Consumer Financial Protection Bureau, Volcker and his future

The race is on to crown the world's largest e-commerce company. This particular market may count an endless number of organisations, but the battle is really only between the US' Amazon and China-headquartered Alibaba. Both have multi-billion capitalisations, huge market shares and more spare cash to spend than the economy of a small country.

The unbundling of investment research is proving a headache for both the industry and regulators

The CFTC has said that if a company reports and remediates any issues of its own accord, it will likely face lower financial penalties. But the proposal’s effects remain to be seen

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).

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.

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.

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.

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.