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The UK’s PRA has intensified bank recovery planning requirements far beyond existing UK and EU rules

The congress of Guatemala has been discussing Bill 5157, which contains amendments to Decree 19-2002 (Law of Banks and Financial Groups, or Ley de Bancos y Grupos Financieros). These amendments have the backing of the Ministry of Economy, the Monetary Board and the General Secretariat of the Presidency of the Republic.

The publication of the Code has raised more questions than answers, especially when it comes to how it interacts with EU legislation

Both jurisdictions continue to invest heavily in initiatives that support the mutual development of their financial markets

The Cyprus Securities and Exchange Commission (CySEC) has issued a summary of the changes to passporting arrangements and conditions governing the provision of investment services and activities by third country firms. These changes will apply as from January 3 2018 under Law 87(I)/2017, which transposes the Markets in Financial Instruments Directive (Mifid) II into Cyprus law. The scope of Mifid II is wider than the existing regulatory regime and the Mifid II passporting arrangements will apply to a broader range of activities, services and financial instruments than before. CySEC advises all the investment firms it regulates to review their passports and authorisations to determine whether they require amendment under the scope of Law 87 (I)/2017 and, if so, to submit the requisite notifications using the forms provided on CySEC's website.

It has been more than three decades since the enactment of the law that regulates the Fideicomiso. The Fideicomiso, in general terms, is the legal act whereby a settlor transfers assets to a fiduciary (trustee) that agrees to manage those assets under the provisions established in the Fideicomiso instrument (trust), for the benefit of a beneficiary, which could be the settlor itself.

Bond issuances in the Latam nation are rising, but investor confidence needs a further boost

A shareholder's interest in a limited liability company is expressed as a membership interest in an amount determined by its capital contribution. A capital contribution (cash or in kind) is understood to be a shareholder's investment in the company, and it becomes the property of the company. Except where capital is reduced when certain legal conditions are met, a shareholder is not entitled to seek return of its capital contribution unless the shareholder is terminating its participation in the company.

It seems that public officials and corporates everywhere are falling like dominoes on the back on tougher anti-corruption measures taking effect in a number of jurisdictions. Brazil's Clean Company Act has received its fair share of coverage as have India's currency crackdown and the UK's far-ranging Bribery Act. Now South Korea has also been making headlines for all the wrong reasons.

IFLR speaks with Morrison & Foerster’s Anna Pinedo and Hillel Cohn on the poll results and best course of action for the fiduciary rule