• Subject
  • Year
When the senior becomes the junior - debt-to-equity swaps in listed companies and how they are done (or not done)

The panel explored the complexities of debt-to-equity swaps as a financial restructuring tool and its success and limitations in enhancing a debtor's balance sheet by converting lenders’ claims into equity securities in several jurisdictions.

Released on Dec 12, 2024

Cross-border lending to Italian borrowers by non-authorised non-EU banks and reverse solicitation

This article delves into the foundational elements of reverse solicitation, exploring its regulatory basis and implications in the Italian context, as well as its alignment with evolving EU standards.

Released on Dec 11, 2024

Individual accountability for directors and managers in banks and other financial institutions

This panel session on individual accountability for directors and managers in banks and other financial institutions explored the benefits and drawbacks in terms of individual accountability laws and regulations, which aim to prevent misconduct by financial institutions by holding directors and managers responsible for failures in their area of responsibility. The speakers discussed the different approaches and challenges in their respective jurisdictions, as well as the best practices to minimise liability.

Released on Nov 22, 2024

A Ghanaian case study on commercial paper: a blessing or a curse?

Commercial paper is a short-term debt instrument issued by companies. It’s typically used to raise funds quickly for various purposes, such as financing working capital needs, funding short-term projects or covering temporary cash flow shortages to finance short-term liabilities, such as augmenting working capital, fulfilling temporary cash flow gaps and addressing immediate financial obligations. Investors seeking a safe and short-term investment option often find commercial paper attractive due to its relatively low risk and competitive returns compared to other short-term investments.

Released on Nov 20, 2024

Enhancing financial integration in Ghana through interoperable payment systems: a closer look at PAPSS and EPSS

A review of Ghana’s role in interoperable payment systems integration in Africa, at the point that the country has joined the Pan-African Payment and Settlement System.

Released on Nov 20, 2024

Background checks in banks and conflicts with ban-the-box laws

In the US, numerous federal, state and local laws require banks to run criminal background and credit checks on employees and applicants for employment. These include the Federal Deposit Insurance Act, the Securities and Exchange Act, the Secure and Fair Enforcement for Mortgage Licensing Act, the Truth in Lending Act and various Financial Industry Regulatory Authority rules.

Released on Nov 20, 2024

The LPD showcase on digital assets and the future of financial services

This showcase was split into three sessions, looking at the topics of ‘Digital Assets – What Are They and How Have They Already Become Relevant?’, ‘The Impact of Digital Assets on the Financial System’ and ‘Regulatory Responses and Private Law Remedies’ respectively.

Released on Sep 17, 2024

Requirement to hold an Australian financial services licence potentially applies to overseas companies

The Australian Government has proposed significant changes to the regulation of overseas companies seeking to provide financial services to clients in Australia, as this article explains.

Released on Mar 20, 2024

Digital banking versus traditional banking in Türkiye: the legal considerations for consumer protection

In the Turkish finance sector, digital banks offer a plethora of advantages, including cost savings, convenience and technological innovation, making them increasingly popular among consumers seeking efficient and accessible banking solutions. However, these advantages come with their own set of drawbacks, such as limited physical presence, security concerns and potential challenges for certain demographics. This article discusses the consumer protection regime that applies to digital banking.

Released on Mar 20, 2024

Banking secrecy laws in Mauritius – is Norwich Pharmacal relief excluded by the statutory regime under the specific provisions of the Banking Act 2004?

The judgment from the Judicial Committee of the Privy Council (the ‘JCPC’) in the case of Stanford Asset Holdings Ltd (Stanford) and another v AfrAsia Bank Ltd (2023) UKPC 35, delivered on 10 October 2023, has shed new light on the court's jurisdiction in respect of the question of whether Norwich Pharmacal relief is excluded by the statutory regime under the specific provisions of the Banking Act 2004.

Released on Mar 20, 2024

Proposed implementation of the NPL Directive in Romania

Recent developments in Romanian financial legislation concern the transposition of the Non-Performing Loans (NPLs) Directive into Romanian national law. Against the backdrop of an expired implementation deadline, attention has turned to two significant draft bills released for public debate. Firstly, a draft government emergency ordinance aimed to facilitate the transposition process. Secondly, a draft order issued by the National Bank of Romania, which mandates credit institutions to report on assigned NPLs.

Released on Mar 20, 2024

DREX and Open Finance: the Brazilian Central Bank unveils innovations for the Brazilian financial market

This article assesses recent innovations and the impact of new technologies in the Brazilian financial market.

Released on Nov 29, 2023

Green financing: a fast-growing trend

ESG compliance and green financing are rapidly growing trends, encouraging companies to adopt sustainable practices, improve their environmental performance, and enhance transparency and accountability. As such, traditional financings structures and loan agreements must be updated to incorporate specific ESG-related provisions, while also avoiding the risk of greenwashing.

Released on Nov 21, 2023

Webinar summary: spotlight on the practice of debt enhancement in financial restructuring proceedings

: The IBA Banking Law Committee held a webinar on 11 July 2022 to discuss the practice of the enhancement of debt in financial restructurings from an international perspective. This article summaries the content of this webinar.

Released on Aug 28, 2023

Banking on big data: the transformation of banking services through data analytics

Big data and its ability to transform banking were up for discussion at the 2022 IBA Annual Conference in Miami, where panel members considered the future of the legal and regulatory landscape for consumer protection.

Released on Apr 14, 2023

Brazilian legal and regulatory framework on virtual asset service providers

Brazil has a recently enacted a law regulating the crypto market that aims to bring more certainty and security for the players of this market and its investors. The new law sets guidelines for activities involving virtual assets in Brazil and for the registration and licensing of the virtual asset service providers.

Released on Apr 12, 2023

Victim of credit card fraud? Asking for reimbursement according to the ABF

According to the Italian Banking and Financial Arbitrator (ABF), in cases of fraudulent use of a credit card, the claim for reimbursement of the unauthorised payment transactions should be made against the card-issuing bank.

Released on Apr 12, 2023

Out-of-court debt restructuring as an alternative to business reorganisation proceedings

When a company becomes financially distressed to the point of insolvency, often the suggested route is to file for bankruptcy or business reorganisation proceedings under Thailand’s Bankruptcy Act 1940, as amended (the Bankruptcy Act). However, businesses may want to consider another informal alternative to the remedies provided under the Bankruptcy Act before proceeding with the court action: an out-of-court debt restructuring process with its creditors. This alternative route offers its own benefits and drawbacks compared to the said traditional court proceedings, whereupon each business must consider the options based on its own circumstances.

Released on Apr 12, 2023

Diversity session – 37th International Financial Law Conference

A report on a joint session of the Banking Law Committee and the Securities Law Committee at the 37th International Financial Law Conference in Venice, on the theme of diversity and inclusion.

Released on Nov 10, 2022

What ‘green’ means: the role of disclosure in sustainable finance in Singapore

This article focuses on the objectives and effects of environmental, social and governance disclosure, and its use by the Singapore Exchange and the Monetary Authority of Singapore, Singapore’s central bank and financial supervisory authority, as a calibrated regulatory tool in the sustainable finance sector.

Released on Nov 10, 2022

Keeping loans afloat during the current financial crisis in Romania

The main interest rate benchmarks for loans applicable in Romania have dramatically increased in the current financial crisis. Borrowers are concerned that a continued increase will trigger defaults and are seeking alternatives, which may prove to be only temporary relief.

Released on Nov 10, 2022

The EU’s Markets in Crypto-Assets Regulation: a regulatory tectonic shift for the crypto economy

With the rapid development of the crypto-asset market, risks regarding the trading of crypto-assets have begun to emerge, prompting the European Union to create its own comprehensive piece of legislation: its Markets in Crypto-Assets Regulation project – a future regulation on crypto-asset transactions within the EU.

Released on Nov 10, 2022

Open banking in Peru: challenges and first steps

Peruvian regulation is ready to achieve an important milestone in the development of the financial market. Open finance (and open banking as the first stage) has all the ingredients to improve the consumer experience, increase competition and close the financial inclusion gap. This article describes the first steps and challenges that these regulatory efforts will face.

Released on Nov 10, 2022

The true ‘power’ of the decision of Italy’s financial disputes arbitrator

This article follows judgment No 3654, issued by the Court of Rome on 8 March 2022. The article focuses on the uncertain and still controversial legal nature of the decisions issued by the Arbitro delle Controversie Finanziarie, an alternative dispute resolution instrument that is specific and peculiar to Italian law.

Released on Nov 10, 2022

India’s Reserve Bank tightens the regulatory framework for digital lending apps

Over the past few years, digital lending apps (DLAs) have greatly aided both business users and retail customers in India. However, to curb growing malpractice and the misuse of customers’ personal data, on 2 September 2022, the Reserve Bank of India (RBI) issued official guidelines to restrict the activities and improve the oversight of DLAs. All RBI regulated entities have until 30 November 2022 to put in place adequate systems and processes to ensure that all their digital loans are in compliance with the new guidelines.

Released on Nov 10, 2022

Ghana: the rights and obligations of creditors during insolvency

A discussion on the rights and obligations of foreign lenders during insolvency and restructuring of borrowers or security providers in Ghana, including the roles played by creditors during insolvency and restructuring.

Released on Nov 10, 2022

Benchmark replacement in Canada: from CDOR to CORRA

While global markets have understandably been focused on the transition away from the London Interbank Offered Rate, Canadian banks and supervisors are working on the transition from a key survey rate of their own, the Canadian Dollar Offered Rate. This article briefly highlights recent developments with respect to benchmark reform in Canada.

Released on Nov 10, 2022

The new Brazilian legal FX framework

In a nationwide effort to strengthen the Brazilian economy by modernising the country’s foreign exchange market, Law No 14,286, enacted in 2021 (and due to become effective as of 30 December 2022), implements significant changes to the FX framework. The new law, which requires specific regulation to be enacted, aims to: (1) achieve freedom of capital flow, (2) project the Brazilian economy internationally, and (3) reduce bureaucracy while maintaining transparency in the foreign exchange market.

Released on Nov 10, 2022

The response of the Ukrainian banking sector to the Ukraine-Russia conflict

This article outlines the Ukrainian banking system’s response following the Russian invasion of Ukraine, which began in February 2022, including in respect of how it has supported Ukrainian businesses.

Released on May 4, 2022

ESG and sustainability-linked loans in Spain: a market trend becoming a standard

The Spanish lending market is increasingly incorporating sustainability-linked criteria. While the wording of ESG provisions has not yet been standardised, their inclusion is becoming a market standard. However, there is still progress to be made, especially with respect to setting the applicable key performance indicators to be met.

Released on Apr 28, 2022