Banking and Finance
The past ten years have brought about significant concentration in the domestic banking sector but cross-border banking mergers and acquisitions although they would improve the geographic diversification of risk and help bolster banks’ resilience have slowed considerably.
The transformation of the global financial sector, spurred by the advent of fintech, is both changing how current operators provide services and paving the way for new operators to appear, in tandem with changing consumer habits and client expectations. This new environment raises many questions about the role innovation can play in supervisory tasks and in regulating the fintech universe as part of our financial system. All these issues were discussed in depth at an event organized by Garrigues and the IEAF-FEF, held at the firm’s offices.
On March 23, 2018, the European Council adopted the guidelines on the framework for the future relationship between the European Union and the United Kingdom. The guidelines confirm that the economic relationship will be shaped by a free trade agreement. The guidelines also imply the rejection of the British proposal to replicate the single market for financial services.
On March 9, 2018, the General Office of the National Development and Reform Commission (NDRC) released the Circular on Issues Relating to Strengthen the Monitor of Urban Rail Transit Vehicles Investment Projects ([Fa Gai Ban Chan Ye  No. 323]) (the Circular 323).
The Latin American team was recognized by the legal community for its participation in the bond issue capitalized by Celeo Redes in the local and international markets. The transaction was named Latin American Refinancing Deal of the Year at the New York ceremony of the Latin American awards held by IJ Global, a specialist in the infrastructure and project finance sector.
The Colombian government issued Decree 415 of March 2 of 2018 which modifies the capital requirements applicable to trust companies, managers of pension and severance funds, stock brokerage companies, investment management companies and insurance companies.