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Investors’ search for the best possible risk/return profile has created a revolution in the derivatives market

The sun is setting on summer 2017 (and on Libor)

President Trump will renegotiate the agreement with Canada and Mexico rather than withdraw from it. But will all parties agree on the best way forward?

On June 8 2017, the Brazilian Federal Government issued Provisional Measure 784/2017 (PM 784), which establishes new rules applicable to punitive administrative proceedings taking place at Bacen (the Brazilian Central Bank) and the CVM (the Brazilian Securities and Exchange Commission).

As mentioned in the first part of this article (published in the July/August 2017 issue), stakeholders in Colombian project financings are taking certain measures to mitigate risks derived from potential corruption cases. As part of those measures, lenders are giving special attention to improving contractual structures through more sophisticated anti-corruption clauses. This course of action is affecting not only financing documents in negotiation stages, but also some agreements already executed.

The Irish High Court recently ruled on the test for determining whether the transfer of a debt is a 'true sale' or is by way of a charge. It has adopted the market analysis based on English cases which emphasise that the legal form of the transaction adopted by the parties will determine its nature, provided the contract is not a 'sham'. The decision in the Eteams (International) Limited case concerned invoice discounting, but its ramifications are important in the context of 'true sale' opinions in structured and asset finance transactions.

Handling bad debts has been emerging as an issue in Vietnam's banking system over recent years. A high ratio of bad debts, which amounts to approximately 5.85% of the system's total outstanding loans, has caused an adverse effect on overall economic development.

A brief summary of changes in legislation relevant to companies wishing to do business in Thailand.

The OECD has established policies to support cooperation between jurisdictions in order to solve common problems. Among these is the exchange of financial information to reduce problems such as tax evasion and avoidance, and money laundering. This situation has been a challenge for central American jurisdictions when it comes to the approval of new regulations. As a result, several international treaties have been signed and local regulations have been enacted, and several other initiatives and bills are currently being discussed from a political and technical perspective.

The Cyprus Companies Law Cap 113 has been amended to transpose the EU Accounting Directive (2013/34/EU) into domestic law with effect from September 23 2016.