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President Trump’s suggestion to re-instate Glass-Steagall has been dismissed by many market participants

The measures to address the EU's growing NPL problem are a departure from its previous prescriptive stance. But questions surround the role of servicers

The critical status of clearing houses in the derivatives market is protected by EU-level regulation. But the fact that no single solution has been chosen to tackle potential issues is causing concern.

Stepping up The US acted as guarantor of Iraq’s first international sovereign bond, a move which helped the Middle Eastern nation secure capital markets’ support to reduce its public deficit

Make financial markets self-correct again

Roxanne Almaraz The crossover from February into March has seen plenty of partner movement in the US, with Houston replacing Washington DC as a nascent hotspot for lateral moves.

On November 23 2016, the Swiss Federal Council published its dispatch for a reform of Swiss corporate law. Along with the dispatch, a draft act amending the Swiss Code of Obligations was presented. The draft act seeks to modernise Swiss corporate law with a focus on increasing the flexibility of the provisions governing company formation and capital structure. Furthermore, it aims to modernise corporate governance by strengthening shareholder rights, and promoting gender diversity on corporate boards and senior management of listed companies. It also replaces the provisions of the (interim) Ordinance on Excessive Compensation (Minder-Ordinance) by a federal act of parliament with only a few changes. Depending on how parliament receives this project, we expect the draft act to enter into force as early as 2019.

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

Amendments to the Payment Services Act and several related laws concerning virtual currencies are expected to come into effect after April 2017. In response to the amendments, the Financial Service Agency of Japan announced the draft of the Cabinet Office Ordinance concerning virtual currency exchange service providers on December 28 2016. The Ordinance sets forth the details of the rules for virtual currency exchange service providers (VCESP).

The revision of law 5/2011, which approved the smoking prevention and control bill, is still pending and, though a full smoking ban in casinos was the initial plan of the Macau government, it may not actually happen after all.