Skip to content

Legal & regulatory risk note

Related people
House Tim
Tim House


New York

View profile →

Garvey Sarah
Sarah Garvey



View profile →

12 June 2015

In this edition of the Risk Note, Yannis Manuelides provides an overview of the current position in Greece and discusses the consequences of an imposition of capital controls by the Greek Government, a scenario that seems increasingly likely by the day.

In part two of the note, we include a round-up of risks and opportunities for banks across the globe. In particular, we consider the implications of a recent French Supreme Court decision which struck down a one-way jurisdiction clause in a commercial transaction. We report on the OECD Report on foreign bribery. We consider the Australian regulator's vision for securitisation. We discuss the further review of the Prospectus Directive by the Commission, as well as the Green Paper on the Capital Markets Union. We also report on the current status of the proposed EU Benchmark Regulation.

In our first report from South Africa, we report on developments in financial regulation in that market. From the U.S. we provide an update on the Volker rule.

We also have four reports from Germany: an update on bank resolution measures; a piece on a new German Investment Ordinance; an article on the German regulator's new approach to the activities of alternative investment funds; and a report on the decision of Germany's highest court concerning a bank's disclosure obligations relating to swap transactions.

Finally, we have published our 2015 Global Litigation Survey which assesses ten key indicators of the litigation process in 161 legal systems. This new and expanded edition includes contributions from an additional 25 jurisdictions, including Bahrain, Bangladesh, Cayman Islands, Cuba, Jamaica, Lebanon, Macau, Malawi, Paraguay, Rwanda and Senegal. Existing entries and analysis have also been extensively updated. The result is a truly global survey which, as far as we know, remains the only one of its kind. If you are a client and would like a copy of the survey, please contact us.

If you are a client and wish to discuss these issues and seek advice in this area, please do not hesitate to contact us.