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The Hong Kong Monetary Authority's (HKMA) bank resolution consultation included the International Swaps and Derivatives Association's (Isda) protocol on temporary stays. Other Asian jurisdictions must follow.

Avril Cole John McDonald Adele Hogan Victor Tsao

Institutional investors don't like activism, they like openness. Articles on the topic, including some by IFLR, cite statistics that suggest activist tactics are growing in popularity among institutional investors. A recent study by FTI Consulting, for example, found that 76% support activism, seeing it as an important catalyst for change.

Last month Standard & Poor's (S&P) downgraded banks in Austria, Germany, Switzerland and the UK. Banks in Asia may be similarly affected.

Clifford Chance partners Debashis Dey and Stuart Ure discuss why the $500 million green sukuk was a game-changer for the fledgling market

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

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.

Beatriz Cabal In a move designed to further discourage the use of bearer shares in the Republic of Panama, the Panamanian Superintendency of Banks issued, on December 2 2014, the General Resolution of the Board of Directors SBP-GJD-0009-2014 in which they established measures for the identification of the real owners or final beneficiaries of Panamanian corporations. This latest resolution sets out a list of requirements that all Panamanian banks must comply with in a period of twelve months counted from the issuance of the resolution, for clients whose corporations allow the issuance of bearer shares.