Magazine - November 1998

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

Cover Story

  • SEC demands plain English disclosure

    Michael Alcamo of White & Case, New York explains how to draft prospectuses in plain English and asks the SEC what issuers can expect from the new rules

Features

  • The global players revealed

    Globalization has finally hit legal services with a series of cross-border mergers and alliances in 1998. Paul Lee analyzes this year’s gathering of statistics on the world’s 50 largest law firms – the IFLR 50 – and identifies the firms spearheading international growth

  • Contrasting fortunes in the Americas

    US firms suffered from the effects of the Asian crisis on Latin America, but benefited from a thriving market at home, while Canadian firms enjoyed an increasing involvement in global equity offerings. Barbara Galli reports

  • Derivatives structure fails to beat regulator

    Goldman Sachs’ strategy for Shell — to obtain funding at the lowest cost through currency swaps — has failed so far before the Canadian courts. Ron Schlumpf of CIBC Wood Gundy, Toronto explains the regulatory risks of derivatives

  • Italy takes new approach to securitization

    Securitization is rapidly becoming a common financing technique in Italy with new regulations modelled on foreign securitization rules. By Raffaele Rizzi of Baker & McKenzie, London

  • US firms rise in Asia’s falling market

    The slump in issuance since October 1997 has affected all firms with Asian equities practices with the biggest offerings bringing more comfort to US rather than UK firms. Nick Ferguson reports

  • IPMA reacts to tax changes for Japanese Eurobonds

    Yusaku Ono of Hamada & Matsumoto, Tokyo discusses the new tax laws for Japanese issues and the IPMA operating manual which aims to ease market compliance

  • Comment

    Peter Langley, CEO at IP consulting firm Origin and consultant to Sidley & Austin, argues that in the future the owners of patents to financial products will control financial services

  • Japanese reforms fail to appease foreign law firms

    Stephen Mulrenan reports from Tokyo where the changes to the permitted activities for registered lawyers have left foreign lawyers frustrated

  • WTO will force Korea to open up legal services

    In the wake of Asia’s downturn, Korea has liberalized foreign investment laws and a similar move threatens the legal profession. Stephen Mulrenan reports from Seoul on why lawyers are divided over the issue of foreign competition

News analysis

International briefings