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  • US banks have too many A study by the New York Federal Reserve has revealed growing complexity in the way banks maintain foreign subsidiaries, but not a corresponding increase in risk. The number of legal layers between a bank subsidiary and its top holder has expanded from three in the 1990 to an average of five in 2014. According to data from the National Information Center (NIC), the largest separation between a US bank and a bank subsidiary was 16 layers, and 19 for a non-bank subsidiary.
  • Construction company OAS is the first to take full advantage of the Brazil's restructuring law, which was passed 10 years ago, by securing debtor in possession (Dip) financing. After several appeals and an injunction, an appeals court last month confirmed a lower ruling approving the financing.
  • In China, Beijing-based HAN KUN raided AllBright's Shanghai head office for a team of eight partners and 10 other lawyers to expand in the commercial hub. Corporate partner David Tang leads the departing team alongside banking and finance partner James Miao and corporate partners Michael Mao, Li Jun, and Zhu Min.
  • Lawyers say the focus should be on improving projects’ underlying credit. That doesn't require cash, but rather the overhaul of deep-seated market realities
  • Cybersecurity is a top priority for both regulators and the private sector. But the risks are unlike any they’ve faced before
  • The Colombian Superintendence of Finance (SF) issued rules last July creating the category of well-known seasoned issuers or WKSIs (emisores conocidos y recurrentes) for the first time in Colombia
  • The Nigerian Stock Exchange (NSE) recently introduced its apex listing platform, the Premium Board
  • The Contrato de Asociación en Participación (Joint Participation Agreement) is an ideal structure for an investor seeking to profit from a business without being involved in its management
  • On April 23 2015, the National Council of the Slovak Republic passed amendments to the Commercial Code and some other acts, including the Act on Bankruptcy and Restructuring
  • Financial assistance prohibition was introduced by article 380 of the Turkish Commercial Code dated June 1 2012 (TCC)