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Corporate governance failings, rather than inadequate capital reserves, are shaping up to be banks' biggest vulnerability in future stress tests.

The offshore RMB market’s future? As international financial centres compete for the status of offshore renminbi hub, some market participants fear a rise of transaction risk due to the currency's lack of a natural home. Trades between two US dollar-denominated accounts are cleared in New York while onshore renminbi trades are cleared via the China National Advanced Payment System. But offshore renminbi can be cleared in Hong Kong, Taiwan and Singapore. London and Frankfurt will also gain clearing capabilities soon.

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

Corporate governance failings could be banks' biggest weakness in future stress tests, new research has revealed.

A remuneration policy led by non-executives and which is clearly disclosed in the directors' remuneration report is one of five key ingredients to good corporate governance, Barclays' chairman said last month.

The use of UK schemes of arrangement (SOA) by foreign-incorporated companies has been boosted by a decision to allow German company APCOA Parking to utilise a scheme despite minimal connection to the country.

In tandem with high M&A dealflow, US and Canadian law firms aggressively expanded their corporate practices in late April and early May. One of the latest firms to ramp up its private equity practice is MCDERMOTT WILL & EMERY, which lured transactional and fundraising partner Michael Sartor from Ropes & Gray. On the opposite coast, SIDLEY AUSTIN recruited emerging companies and venture capital specialist Sam Zucker as a partner in Palo Alto. Late in April, KIRKLAND & ELLIS announced the opening of a Houston office and its hire of M&A lawyer Andrew Calder from Simpson Thacher & Bartlett, whose private equity clients have included KKR and Blackstone Energy Partners.

Is it possible infrastructure debt funds have too much?

New issuing and trading standards are a key part of Dubai’s strategy to increase global investors’ confidence in sukuk structures

The Netherlands is one of Europe’s most creditor-friendly jurisdictions. NautaDutil's Teun Struycken and David Viëtor explain how the country is vying with Luxembourg as the holding company jurisdiction of choice