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João Nuno Riquito Rui Filipe Oliveira In line with the recent regulatory tendency to focus on the real estate property market, the Macau government has prepared new legislation to regulate the management of a condominium's common areas.

The Indian government wants its population to be less reliant on cash

The European Commission's proposals for the Capital Requirements Directive (CRD V) have been deemed by some as a retaliatory response to US regulatory standards. But Clifford Chance's Simon Gleeson believes the proposals will not substantially damage US banks with operations in the EU.

Joseph Condo In a major shakeup in central America, global law firm DENTONS announced a proposal to open offices in central America through a combination with MUÑOZ GLOBAL. The Costa Rican-based Muñoz brothers, José Antonio Muñoz and Pedro Muñoz, have split from leading firm Arias & Muñoz, which will now be known simply as ARIAS. Muñoz Global will also have offices in Panama and Nicaragua. Gisela Alvarez de Porras will act as managing partner of the Panama office, having previously acted as managing partner of Arias & Muñoz's Panama office, but left the firm in April 2016 to serve on an Advisory Committee of Independent Experts for the Government of Panama to review financial practices. The partnership for the Nicaragua office is yet to be announced.

Inconsistent legislation and home-grown commercial specificities mean investors need to factor the risk of entering India into their deals

Greece is amending parts of its out-of-court workout regime but the country’s economic situation may prove an obstacle to their successful implementation

Elias Neocleous The Cyprus Securities and Exchange Commission (CySEC) recently issued a draft circular for consultation with Cyprus Investment Firms (CIFs) and other stakeholders. The paper sets out the proposed changes to, and clarifications of, the detailed procedures that CIFs must follow to fulfil their obligations to safeguard clients' funds. The consultation period ran until November 18 2016; the new guidance is expected to be issued early in 2017.

Manuel Atencia Ignacio Inigo Starting in 2011, the Spanish legislator has introduced a series of reforms which have included the possibility to cram-down creditors through the Spanish scheme of arrangement (homologación judicial).

Andrew M Garbarski Criminal liability of corporations entered into force in Switzerland in October 2003. However, except for the Swiss Post matter and certain other isolated cases, only a small number of prosecutions have been conducted against corporations so far, let alone resulted in their condemnation. But as evidenced by recent public announcements from the Office of the Attorney General of Switzerland in connection with the so-called 1MDB scandal, the latest trend seems to be launching more systematically criminal investigations against corporations (such as financial institutions). This is particularly the case in matters relating to money laundering or corruption.

Foifa Tharaphan Albert T Chandler On July 4 2016, the Secured Transactions Act came into force. Following this, the department of business development (DBD) launched the online system for registering business collateral agreements. The qualified security recipient must be a financial institution regulated by the Bank of Thailand. A draft of the ministerial regulation allowing additional types of qualified persons to be security recipients is now going through the legislation process.