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Brexit could impact bespoke derivatives trading documentation. And the possibility of dual compliance requirements will further add to transaction costs

Maiko Shimoda On June 3 2016, the Reform Act of the Banking Act, etc (the Reform Act), which includes amendments to the Banking Act, was enacted. Its aim is to respond to the diversification of the form of business management in financial groups and the rapid rate of innovation in information technology (IT). The details of the new regulation will remain unclear until the amendments to the relevant cabinet orders are announced. However, the Reform Act concerning the amendments to the Banking Act has already revealed the new regulatory framework for the banking group.

Carlos Fradique-Méndez Sebastián Boada Morales Virtual currencies have become increasingly important in recent years. Having analysed both the potential benefits and pitfalls, regulators must now decide how they will deal with the issue. A recent study from the International Monetary Fund describes virtual currencies as "difficult to regulate and opaque". It further states that they operate outside of the conventional financial system.

In the aftermath of the 2009 global financial crisis, international financial regulatory bodies such as the Basel Committee on Banking Supervision scrambled for answers to one key question: what caused the crisis. Although there were many causes, regulators uniformly concluded that a lack of sound corporate governance practices was one of the root causes of the crisis. It was said that boards of directors that were asleep at the helm, so-called runaway CEOs, figurehead audit and risk committees, and a lack of checks on moral hazard, were to blame for many of the problems.

Andrew M Garbarski In a recent milestone decision dated May 24 2016 (decision 6B_503/2015), the Swiss Federal Supreme Court (SFSC) held, for the first time, that the duty of financial intermediaries to report suspicions of money laundering may extend beyond the end of the relevant business relationship.

Diego Alejos Bill 4895 (the Factoring Agreement and Discount Law) and Bill 4896 (the Leasing Agreement Law) have been thoroughly discussed in Congress recently. Both aim to help the development of the nation's economy, by providing individuals with new financing methods. Both bills also introduce some interesting concepts which, if applied, could be beneficial to the contracting parties.

A Commission non-paper seen by IFLR, which sets out a framework whereby contingent convertibles (CoCos) would be given greater protection, has been heralded as a welcome clarification for investors. Under the plan, CoCos are given priority if a bank's maximum distributable amount (MDA), including dividends and bonuses, is under pressure.

This will be made easier The Financial Conduct Authority's new rules, which came into effect on September 7, create a better legal framework for whistleblowing in the UK.

Islamic bonds benefit buyside and issuers but are hard to find in western capital markets. Several things need to be done to kickstart the global market

The risk of public defaults is on the rise, boosted by persistently low interest rates and a distinct lack of fiscal policy. However, the preventative measures and restructuring tools that have been used historically need to improve to avoid disaster