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MiFID II's definition of liquidity will not work for the swaps industry, according to the International Swaps and Derivatives Association. Here's why

Hong Kong’s inaugural sukuk was the first to test its new tax laws allowing Islamic finance structures. Here's how it was done

The new chief of the International Swaps and Derivatives Association has said that regulators need to focus on harmonising international rules

The effectiveness of material adverse change clauses are being whittled away in Australian public M&A, a recent report has revealed

Diversity requirements introduced by the Hong Kong Stock Exchange one year ago have had little effect, a new study has revealed

Iñigo de Luisa We previously wrote about Royal Decree-law 4/2014 of March 7 (RDL 4/2014), which introduced important changes at preinsolvency stages and improved the restructuring tools and schemes in Spain. This piece of law is already effective, but is at the Parliament for final enactment and is subject to additional minor amendments. Now, Royal Decree-law 11/2014 of September 5 (RDL 11/2014), amends once again our insolvency regime both at composition and liquidation phases in order to foster financial restructuring of viable companies. RDL 11/2014, among other key issues, extends to composition agreements some of the key measures introduced by RDL 4/2014 for restructuring schemes at preinsolvency stages. As a result, both general and special privileged creditors (including public entities) could now be specifically affected by composition plans, even in the portion covered by the value of the collateral.

Across Europe, many public-private partnerships are struggling. But a small majority of lawyers believe it’s premature to overhaul the funding model

Debevoise & Plimpton's James Scoville and Vera Losonci explain why an increasing number of foreign companies are using American Depositary Receipts to tap US investors

Foreign investors will soon be allowed to buy and sell shares on the Tadawul. Does it mark the beginning of a new liberalised investment environment?

Professor Chris Brummer analyses the macroprudential issues that will need to be ironed out as the RMB becomes a global currency