Magazine - December 2002

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

Cover Story

  • Why the SEC is unfit to regulate lawyers

    Last month the SEC approved proposed new rules on the conduct of lawyers under the Sarbanes-Oxley Act. Richard Hall at Cravath Swaine & Moore questions whether the Commission should be regulating the legal profession at all

Features

  • Letter: Defending the reputation of trade finance

  • Why regulators should leave bank conflicts alone

    Kevin Keogh of White & Case, New York, looks at the arguments surrounding the creation of independent analysts in the US, and suggests that trying to remove all conflicts of interest could be a waste of time

  • How to tackle debt restructuring in emerging markets

    Dealing with bad debts in emerging markets is often a difficult and worrying experience. Local legislative frameworks and business practices can be bewildering and unfriendly to outside creditors. Steven Kargman* offers advice on some of the key challenges they may face

  • How EU rules will deny access to retail markets

    The European Prospectus Directive will create one set of rules for listings in all EU markets. The regulations will also lead to bland documentation and could stop smaller companies listing in the EU, says Clifford Dammers of the International Primary Market Association

  • What banks should know about US pro-creditor reforms

    The US Congress has failed to pass new bankruptcy rules, but the experiment continues. Martin Bienenstock of Weil, Gotshal & Manges in New York says likely reforms will be unwelcome to creditors even if that is not their aim

  • Why Asian issuers should not dismiss US offerings

    Keeping Sarbanes-Oxley in perspective reveals that the new requirements should not discourage smaller non-US companies from listing in New York. Robert DeLaMater, Michael DeSombre and Melissa You of Sullivan & Cromwell argue that some Asian stock exchanges impose restrictions that create more practical burdens than those threatened by the new US legislation

  • Courts ease pain of Hong Kong restructurings?

    Two recent court rulings in Hong Kong that expand the powers of provisional liquidators will assist in restructurings. And not before time, says Tom Vaizey of Johnson Stokes & Master

  • How India's reforms will curb foreign investment

    Contrary to the Indian government’s economic plan, amendments to the country’s takeover laws will discourage foreign investments. Abhimanyu Jalan and Saviprasad H R of Pathak & Associates explain

  • How French courts are holding back structured finance

    Securitization lawyers in Paris are angry about court judgments that are holding back their industry. Rob Mannix finds out why the French government must legislate if it is serious about promoting structured finance

  • Will new liabilities land French banks in court?

    Following recent regulations, French banks must take a share of the blame if investors feel they have been misled about a deal. Rob Mannix asks lawyers how well their clients will adapt to the new rules

  • Why French usury law must change

    No two leading firms in France can agree whether obstructive local usury laws apply to deals done overseas. Eric Cafritz and Omer Tene of Fried, Frank, Harris, Shriver & Jacobson explain why legislation must be updated

News analysis

International briefings