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Muharrem Küçük Tolga Çabakli The new regulation on Principles and Procedures Applicable to Factoring Transactions (Regulation) was published by the Banking Regulation and Supervision Agency on February 4 2015 (Official Gazette 29257). The Regulation includes provisions related to: (i) invoicing; (ii) provision of negotiable instruments; (iii) assignment of future receivables; and (vii) retention of documents. The Regulation aims to prevent any fictive factoring transactions. It is prohibited to enter into any factoring transaction without a genuine invoice or a document which is also treated as the invoice. Banks and factoring companies incorporated in Turkey (Institutions) are required to inspect transactions to verify whether invoices are repeating or recurring, through the Central Invoice Record System. Additionally, if an invoice has been cancelled, clients must notify the Institutions and for the provision of new replacement invoices an undertaking must be provided by clients.

The central government is tackling the national debt crisis through a disciplined approach that focusses on the long-term health of the financial markets

Markus Bolsinger Wendy Pan Judah Frogel Penny Zacharias Mario Nigro April witnessed the continuing defection of talent from Pillsbury to WINSTON & STRAWN. Following the moves of 14 partners in March, Peter Morgan, who specialises in structured finance, private equity, and fund formation, made the move to Winston's New York office.

As Europe awaits Esma's latest move in the implementation of its Markets in Financial Instruments Directive II (Mifid II) some fairly strong theories are doing the rounds. As this month's cover story on page 32 shows, the directive in its current form could dry up liquidity, concentrate trading venues and even kill off European financial centres, depending on who you believe.

You are a small to mid-size bank and you have learned you are the target of a probe by US regulators. Baker & McKenzie's Marnin Michaels, George Clarke and Doug Tween explain what should you do

Suspected fraud at a Qingdao's metals warehouse has tightened lenders’ focus on KYC checks and due diligence in trade finance transactions

Private equity funds and their investors are sensing opportunities in India, prompting a renewed focus on country-specific funds

Sean Doherty, general counsel at Bain Capital addresses the biggest concerns for the US private equity market

Troubled Chinese property developer Kaisa defaulted this week on its 12.875% notes due 2017 and 8.875% senior notes due 2018. It’s still unclear what this means for bankruptcy in the country

The government’s sale of its 41.5% stake in Habib Bank reflects increasing investor interest in the frontier market