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19 October 2018
New regulations promote issuance of panda bonds

China - Jingtian & Gongcheng

The People's Bank of China and the Ministry of Finance recently issued the Interim Measures for the Administration of Bond Issuance by Overseas Institutions in the National Inter-bank Bond Market. Among other things, the new measures further clarify the qualification, application procedure, bond issuance, registration, custody and settlement and information disclosure requirements for overseas institutions that issue so-called 'panda bonds'.

Author: Wu Jiejiang
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Jon Turnbull Redressing the balance: banks owe no contractual duty to customers in respect of regulator-mandated reviews

United Kingdom - Allen & Overy LLP

A recent decision gave Court of Appeal endorsement to a raft of similar first-instance decisions regarding banks' contractual duties to customers in respect of regulator-mandated reviews. The decision provides helpful comfort for banks when agreeing remedial action with the Financial Conduct Authority that they ought not to be exposing themselves to private actions from customers in respect of their review, provided that third-party rights are excluded.

Author: Jon Turnbull
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