News analysis

  • Mayer Brown indictment is an isolated incident

    20 Dec 2007

    US lawyers aren't worried about the indictment of Mayer Brown partner Joseph Collins over Refco. Most in the market seem to be assuming that this was an isolated case of active fraud

  • Single regime for UK liquidity

    20 Dec 2007

    Regulators and central banks are struggling with how to deal with the lack of liquidity. On Wednesday the UK regulator released the first formal reaction to this problem

  • Sub-prime legislation could deter lenders

    20 Dec 2007

    A bill in the US to make mortgages easier to pay could deter banks from lending, at precisely the time when central banks are trying to increase liquidity. It could also be another blow to securitisation

  • Foreigners can issue Renminbi bonds, but won't

    19 Dec 2007

    Good and bad news for counsel in China. Foreign companies will be able to issue Renminbi-denominated bonds; but it's unlikely they will bother, with the regulatory regime still not clear

  • Investor group calls for stronger bond covenants

    17 Dec 2007

    Bond covenants can be strengthened by a consensus between investors and issuers, according to a white paper released today by The Credit Roundtable Group

  • African bonds heat up

    13 Dec 2007

    Traditional securities markets may be spluttering, but sovereign debt in Africa is accelerating. Last week, Gabon issued a $1 billion debut bond as appetite for African debt grows

  • Canadian exchanges merge for strength

    13 Dec 2007

    The Montreal and Toronto stock exchanges have proposed a $1.3 billion merger, creating the new entity TMX Group. While this hasn't surprised many people, it will make the two exchanges more efficient and more able to ward off bidders

  • Basel II comes to Australia

    12 Dec 2007

    Australian bankers' counsel will be struggling with their risk management systems over the New Year, after the Australian Prudential Regulation Authority finally introduced Basel II to Australia

  • Credit crunch draws regulation in Thailand

    12 Dec 2007

    Thailand's banks are being punished for the sub-prime crisis by having new regulations for trades in collateralised debt obligations thrust upon them by the Bank of Thailand

  • Banks replaced by real estate funds

    06 Dec 2007

    As investors and banks shy away from mortgage-backed securitisation, a new player is set to step into the ring

  • Common Europe bank supervision is inevitable

    06 Dec 2007

    The UK chancellor has rejected Italian plans for the EU to centralise all the supervision of European banks. But many fear that centralised regulation could still become a reality

  • Islamic finance battles credit crunch

    06 Dec 2007

    As investors spurn conventional securities, emerging markets such as the Middle East are benefiting. Islamic finance in particular is picking up thanks to investors looking for safer products

  • Record year for convertibles

    06 Dec 2007

    While the debt capital markets have come to a standstill, convertible bonds have been making a resurgence. A record $170 billion of convertibles have been issued this year, according to Deologic, the data provider

  • Many ways in

    01 Dec 2007

    How do you win work in a country that doesn't want you? Ask Linklaters, Jones Day and White & Case

  • Local firms win out

    01 Dec 2007

    Romanian and Bulgarian outfits beat international newcomers in the real estate boom

  • Rise of the Young Turks

    01 Dec 2007

    The booming capital markets are allowing a handful of new, dynamic firms to do innovative work

  • Troubled times

    01 Dec 2007

    A wide swathe of law firms benefited from this year's US equity volume. It was a good thing to have in a volatile year

  • Americans win, just

    01 Dec 2007

    China has propelled high-yield debt this year. But the battle for the legal work is becoming complicated as more UK firms hire US lawyers

  • More locals, fewer foreigners

    01 Dec 2007

    A wide range of local firms have benefited from the equity boom. But only one foreign firm - Linklaters

  • Two very different legal markets

    01 Dec 2007

    A plethora of firms are winning work in Peru's capital markets, but three big firms dominate in Chile

  • China's corporate challenge

    01 Dec 2007

    Laurence Liu, head of the Association of Corporate Counsel in China

  • First funds access the US

    01 Dec 2007

    A new way to issue under Rule 144A

  • Regulation not religion

    01 Dec 2007

    Securitisation is hampered by local laws, and by a lack of Islamic assets

  • Conventional problems

    01 Dec 2007

    Dubai's first securitisation had a conventional structure. Insolvency, however, was an issue

  • How to set sukuk free

    01 Dec 2007

    Islamic bonds won't be a global force until they can break the US market

  • A new retail product

    01 Dec 2007

    Customised index platforms give issuers a way to stand out from the crowd

  • Belgium's future bond

    01 Dec 2007

    It's easy to structure a covered bond, even without specific legislation. Here's how

  • Struggling for a policy

    01 Dec 2007

    Misguided attempts to keep out hedge funds, sovereign wealth funds and foreigners

  • China should be cautious

    01 Dec 2007

    If it buys too readily overseas, there will be a backlash from developed countries

  • A tough job for the SEC

    01 Dec 2007

    It will be hard to prove fraudulent intent

  • Counsel warn Hong Kong Exchange

    28 Nov 2007

    The Hong Kong Stock Exchange needs to speed up its listing process if it is to keep pace with emerging Asian listing venues

  • Scholars shouldn't develop Islamic products

    28 Nov 2007

    In a paper discussing challenges in Islamic finance, the FSA has revealed its discomfort with shariah scholars

  • Voluntary derivatives disclosure not enough

    28 Nov 2007

    While counsel welcome the UK FSA's call for more disclosure of contracts for difference, some suggest that a voluntary regime may not be tough enough

  • Approvals in China slowed yet further

    21 Nov 2007

    Rumours abound in Beijing that China is planning to make life even harder for foreign investors in the country, by slowing the investment approval process

  • Moody's introduces new ratings system

    21 Nov 2007

    Ratings agencies' credibility has plummeted thanks to the credit crunch. But last Thursday, Moody's tried to restore its reputation with a new ratings resource for investors

  • Liquid 144A market created in US

    14 Nov 2007

    Monday's announcement that 12 Wall Street firms are to use Nasdaq's Portal system as a trading system for Rule 144A securities has fostered hope of a liquid institutional market in the US

  • IFRS may be used in US within three years

    13 Nov 2007

    According to the preliminary results of a survey by Deloitte & Touche, US companies are warming to the idea of using IFRS

  • Call for principles-based regulation in the US

    07 Nov 2007

    Rules-based regulation is set to take another hit today, as the Financial Services Roundtable presents its thoughts on reform

  • File early for foreign investments in US

    06 Nov 2007

    UK hedge funds and private equity houses should take advantage of the pre-filing option offered by CFIUS when investing in the US, according to counsel at a Kaye Scholer breakfast briefing on Tuesday

  • Forward as one

    01 Nov 2007

    The results of the Asia Bankers' Counsel Poll demonstrate the importance of Asia moving in step with global regulatory standards. By Paul Browne of Simmons & Simmons

  • In-house struggle in Asia

    01 Nov 2007

    Paul Browne and Charles Mayo of Simmons & Simmons react to the results of the Asian Bankers' Counsel Poll

  • Harry Eddis, Morgan Stanley

    01 Nov 2007

    The VP in legal and compliance on how to put together a shariah supervisory board

  • A hotdog vendor's tale

    01 Nov 2007

    Derivatives are not based on financial loss, so they should not be treated as insurance

  • You'll all come flooding back

    01 Nov 2007

    Issuing into the US could be easier and cheaper than Aim

  • Buying structured finance

    01 Nov 2007

    Controversy now will be better for the market in the long run

  • Here's a suggestion

    01 Nov 2007

    Combining securitisation and covered bonds could be the future for bank funding

  • How to rig a state sale

    01 Nov 2007

    The corruption, sleights of hand and odd coincidences around state assets

  • Too perfect

    01 Nov 2007

    It's time for a change in companies' relationships with their accountants

  • In their own interest

    01 Nov 2007

    Sarah Payne of UBS argues best execution could force banks to take up policies they should adopt anyway for commercial reasons

  • Reacting to Northern Rock

    01 Nov 2007

    The system doesn't need any more regulation. Internal risk management is the key