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The finances of some of China’s main banks are triggering red flags China has in recent years been battling excessive leveraging and the high levels of non-performing loans (NPLs), with the People's Bank of China having taken firm action to tackle the issues. The central bank has, among other things, diversified the maturity structure of open market operations and imposed tighter prudential rules on off-balance sheet wealth management products (WMPs) – high-yield savings products issued by banks or financial institutions.

Following months of a political vacuum at the top of South Korea's political chain, the world's 11th economy has elected a human rights lawyer-turned-politician candidate to head a country increasingly resentful towards the chaebol, or family-owned conglomerates. Moon Jae-in of the Democratic Party of Korea, who served as chief of staff to the late president Roh Moo-hyun, has been widely touted as the first liberal president in South Korea after nine years of conservative rule.

Urs Feller and Marcel Frey from Prager Dreifuss examine the scope and limits to sovereign immunity in Switzerland and the recognition and enforcement of decisions against a foreign state

Mobeen Rana, partner at MR Legal Inn, examines the structure of the international arbitration laws in Pakistan and the attitude of the local courts in interpreting them

The lighter side of the past month in the world of financial law

Following a series of changes to the makeup of the group, pan-Baltic firm Tark Grunte Sutkiene announced it will be rebranding all its offices as TGS BALTIC.

Funds which diversify across multiple entities and jurisdictions could be well placed to respond to the uncertainty surrounding the future of London’s financial hub status

Much has been said about the results of Colombia's fight against corruption; from its 90th position (out of a total of 176 countries) ranking in the Corruption Perceptions Index of Transparency International, to recent scandals directly affecting major infrastructure projects. Set against this background of cultural issues and perception problems, the recent wave of cross-border corruption cases (for example, Odebrecht and Canal Isabel II) has served only to set the spotlight even more firmly on Colombia as a country with a historic reputation for corruption.

The Brazilian government has been making concerted efforts to eliminate red tape and generally improve the country's business environment. A new package of measures aims to eliminate bureaucratic procedures to reduce the so-called Brazilian cost - the set of structural and economic difficulties that make doing business in Brazil so expensive. The new rules simplify legal requirements for the creation of security interests in Brazil and improve institutional and legal stability.

Gary Born, president of the Singapore International Arbitration Centre and chair of WilmerHale’s international arbitration group, looks at some of the latest developments in international arbitration