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Isil Ökten Mustafa Yigit Örnek The new Regulation on Undertaking of Liabilities by the Turkish Treasury (Regulation) entered into force on April 19 2014. It was based on article 8 (A) of the Law on the Regulation of Public Financing and Debt Management 4749 (Law 4749). This new Regulation provides that build-operate-transfer (BOT) projects, education projects through the build-lease-transfer model and public private partnership (PPP) projects in the health sector can benefit from the debt assumption undertaking. The scope of the debt assumption undertaking includes the partial or whole repayment of financial obligations of the project companies, including those arising from the principal loan provided for relevant investment and services and related derivative products. The debt assumption undertaking consists of: (i) the whole amount of financing costs; and (ii) (a) if the project agreement is terminated due to project company's fault, 85% and (b) if the project agreement is terminated due to reasons not attributable to the project company, 100% of the loan amount. The following conditions need to be met for the granting of a debt assumption undertaking:

A failed challenge to the CFTC’s extraterritorial reach has caused disappointment. But Linklaters' Caird Forbes-Cockell, Noah Melnick and Edward Ivey explain why the regulator’s new chief could be the silver lining

Major banks have signed an Isda stay protocol to assist the orderly resolution of a troubled financial institution. Jay Taylor of Taylor Louis asks how far this goes in addressing too-big-to-fail

The EC's equivalency decisions for Australia, Hong Kong, Japan and Singapore’s central CCP regulatory regimes is a positive move for the region

BBVA's Agustin Martin Calmarza and Aaron Baker explain why ABS is key to Europe’s move towards a more market-focussed system of funding

Following the release of its dual-class concept paper, Shearman & Sterling's Jayesh Wadhwani asks whether the exchange must allow these structures to remain competitive

Both detractors and supporters of the recent pro-democracy protests in Hong Kong have argued that their side benefits the city-state as a financial centre – and conversely, that the other's views would doom the city's international reputation.

Foreign issuers may not be tempted by Saudi’s reforms Authorities in Saudi Arabia are reportedly drafting a new framework that will allow foreign investors to buy riyal-denominated debt instruments for the first time. The announcement was a significant moment in the history of the Gulf Cooperation Council (GCC), marking another step in the opening up of what has, to date, been one of the most restricted financial markets in the world. But Saudi Arabia is also the world's largest oil producer, with the region's biggest economy, worth $745 billion, and large private sector companies.

The Financial Industry Regulatory Authority (Finra) announced last month that it is considering several proposals to improve transparency in the equities and fixed income market.

The creation of Europe's second biggest telecommunications company sets a new benchmark for antitrust clearance in the region, and paves the way for more consolidation in this year's already busy telecom sector.