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Simmons & Simmons partners Charlotte Stalin and Penny Miller explain the key regulatory themes for the year ahead

Contributors including Korea Corporate Governance Service, NYSE and Gen2 Partners provide practical advice for managing transactions in the country

Brazil’s new law adapts the instrument to local financing needs, but reveals the challenges of making covered bonds work in emerging markets

Local corporates need new financing options. If international debt capital markets are to be a solution, some long-proposed reforms must reach fruition

Imminent reforms will reveal the identity of those behind companies registered in the UK. The new disclosure obligations promise to create among the highest levels of transparency in the world

Africa’s governments are pushing the indigenisation of major projects. For international sponsors and lenders, it introduces home and host country compliance concerns

The region’s multilaterals are moving beyond debt financing. Here’s what co-investors must consider

The path to new debt controls in Europe has been gradual and deliberate. Citi's Kepler Geertsema and Jackie Leggett analyse the trend in the context of the restriction on indebtedness covenant

Luis Gabriel Morcillo-Méndez Maria Camila Ordoñez The Colombian Ministry of Finance enacted Decree 1648 of 2014, by which it incorporated hybrid instruments into the Colombian regulation, particularly in connection with financial institutions. This comes as a result of recommendations made by the Basel Committee on Bank Supervision (BCBS) regarding hybrid instruments and their incorporation as mechanisms for issuers' absorption of losses. By means of such decree, the Ministry included hybrid instruments as part of the additional basic capital of the Colombian institutional entities and established the required criteria for losses absorption. This innovative action allows financial institutions, from now on, to issue hybrid instruments and use them not just as a temporary financing source, but as a future losses absorption mechanism, which will prevent them from an actual liquidation or facilitate their financial recovery.

Besnik Duraj For more than two decades, the Albanian electricity power sector has been facing critical financial and operational problems, as a result of a number of issues and ensuing chain reactions. The most characteristic example is end consumers who do not pay the power distributors, who in turn do not pay the transmission operators, and so forth up to the power producing companies. With the entire electricity power system in a debt downward spiral, a major objective of the Albanian Government for 2015 is the reformation of the power sector by drafting a new bill. The new draft bill was approved during the Council of Ministers meeting on January 14 2015 and sent to the Parliament for debate and approval. Apart from financial goals, the said bill aims at fulfilling Albania's obligations in the context of the Energy Community Treaty. It seeks to harmonise the local power sector legislation with EU directives and rules, with a particular focus on the Third Energy Package for gas and electricity markets.