Magazine - January 2003

In publication since 1982, IFLR has become the trusted source for in-house counsel and law firms specialising in financial law.

Cover Story

  • PRIMA Convention brings certainty to cross-border deals

    Government representatives have agreed on an international convention governing which law applies to cross-border securities transactions. Christophe Bernasconi and Richard Potok, who have spearheaded the negotiations over the past two-and-a-half years, explain the need for the Convention and how it will benefit the securities industry

Features

  • Securing a rating for collateralized fund obligations

    The past six months have seen the successful completion of the first rated collateralized fund obligations. Shlomo Twerski, Paul Watterson and David Nissenbaum of Schulte Roth & Zabel explain how to structure this new financial product

  • A year of enforcement under the new UK regime

    Simon Orton of Freshfields Bruckhaus Deringer looks at how the UK's new regulator has performed during its first 12 months, and predicts where it will focus attention in 2003

  • Why bankruptcy reform will not cure Russia's ills

    Reforms to Russia's bankruptcy and insolvency proceeds should be paving the way to Russian prosperity, but good intentions are being undermined by less sophisticated thinking. Thomas Williams reports from Moscow

  • Fair disclosure: what issuers can learn from SEC actions

    The SEC has issued the first enforcement actions under its disclosure rules. The cases point to some of the difficulties in applying Regulation Fair Disclosure but should help issuers understand the types of activities it forbids. Leslie Silverman and SK Kang of Cleary Gottlieb Steen & Hamilton, New York, and Sebastian Sperber and James Small in Hong Kong explain

  • How to draft an audit committee charter

    The proposed New York Stock Exchange corporate governance rules submitted to the SEC in August of 2002 and the Sarbanes-Oxley Act impose new requirements and obligations on audit committees. While most of these requirements will not become effective until 2003 and are subject to change through the SEC approval and rule-making processes, many companies are reviewing their audit committee charters to consider what changes may be required. Eric Robinson and Laura McIntosh of Wachtell, Lipton, Rosen & Katz in New York provide a model charter and explain some of its key elements.

  • Canada stands firm on corporate governance

    The cold winds of corporate scandal and tightening securities regulation are blowing north from the US. Ben Maiden reports on how Canada is trying to keep its own identity, at its own pace

  • How China Motor beat hostile bidders

    China Motor Bus Company recently used new tactics to beat off a hostile takeover from Asia Time Investments. Nick Rees and Christopher Walker, of Linklaters in Hong Kong, reveal the lessons to be learnt from an unusual bid

  • Australia blames auditors for governance failings

    Auditors play only a small role in keeping a company honest. But in a bid to reassure investors after a spate of corporate scandals, the Australian government is wrongly limiting its reforms to the audit function, says Alison Lansley of Mallesons Stephen Jaques

News analysis

International briefings