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Limited recourse provisions don’t preclude an issuer from becoming insolvent. Slaughter and May's Sanjev Warna-Kula-Suriya and Eric Phillips analyse whether this is this a concern

Activism and engagement have long outlived the shareholder spring of 2012. Skadden's Scott Hopkins and Lorenzo Corte explain why UK boards must prepare to become more responsive

The European Central Bank (ECB) has quite the job on its hands. Tasked with supervising the eurozone's largest 128 banks in November, the central bank needs to prove itself.

Asia is not moving in line with European and US covenants Investor protections in Asia high-yield bonds have diverged from the global trend of weakening covenant packages. They're expected to remain investor-friendly compared to those seen elsewhere. Moody's recent Asia-Pacific Covenant Quality report noted that Asia's covenant packages remain stronger than those in Europe and the US – although non-Chinese bonds tend to have stronger scores.

Rodrigo de Campos Vieira Ricardo Mastropasqua On June 25 2014, the Brazilian Exchange Securities Commission (CVM) issued CVM Instruction 549. This instruction partially amends CVM Instruction 409, which governs the organisation, management, operation, and disclosure of information regarding investment funds in Brazil and also creates the Share Investment Funds – Access Market, or FMA (Fundo de Investimento em Ações – Mercado de Acesso). The creation of the FMA is the result of the CVM's efforts to improve the Brazilian regulatory environment for smaller companies, enabling them to access capital markets and finance themselves by means of public offerings of shares. The FMA has features aimed at allowing investors to participate in the transition process from the pre- to post-initial public offering phases.

There is speculation that the European Commission's delay in approving the liquidity coverage ratio (LCR) means it will reflect the outcome of the Bank of England (BoE) and European Central Bank's (ECB) consultation on reviving securitisation.

Oene Marseille Emir Nurmansyah The Indonesia Finance Ministry has issued Minister Regulation 137.1/PMK.011/2014 on July 7 2014, imposing a tariff on the importation of certain iron and steel products into Indonesia. This Regulation is issued following recommendations from the Trade Safeguard Committee of Indonesia (KPPI). The KPPI determines that the tariff is necessary to prevent serious injury that are deemed to have arisen from increased importation of steel and iron products into the country. The KPPI states that steel importation into Indonesia has increased from 79,279 tons in 2008 to 251,315 tons in 2012 and found a causal relationship between the increase and the threat of serious injury.

Investors must push back against Asia's weakening high-yield covenant packages. Although investor protections remain robust – especially compared to what's seen in the US and Europe – the region's legal frameworks are much less established.

As the debt saga continues, attention has turned to its ramifications for future bond offerings and restructures

The lighter side of the past month in the world of financial law