Magazine - June 2010

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

Cover Story

  • Stand up to sovereigns

    Sovereign issuers can no longer rely on reputation alone when selling bonds. They must face up to industry disclosure standards, and investors should demand more too. Plus, why the FSA is better than the Bank of England and predictions on the overdue IPO boom

Features

  • Mining the market

    New rules will help pre-production minerals companies list in Hong Kong

  • Force them into disclosure

    Should the Prospectus Directive be amended to ensure more disclosure from EU sovereigns selling bonds?

  • Restructuring a nation’s debt

    Greece’s sovereign debt could still need to be restructured. Lawyers must learn the lessons of previous national crises if they are to succeed

  • An odious reality

    The possibility of governments disclaiming debts incurred by past regimes is more relevant than ever. The answer lies in salt bonds, revolution and war

  • Listen to Cesr

    The SEC is more favourable to non-Gaap measures, but it would benefit from following European recommendations too

  • Big but frail

    European proposals raise many questions, particularly whether the powers being given to the new authorities are legal

  • The stakeholders have spoken

    The Competition Commission of India’s Kaushal Sharma explains how the regulator reworked its merger regulations

  • A smooth transition

    Glen Rae, global head of capital markets at Bank of America in New York, on how to build a team out of a merger

  • Regulators must cooperate

    Hong Kong wants statutory backing for the disclosure of price-sensitive information. But the exchange and SFC must work together

  • Limited reciprocity hinders Indian disputes

    India’s limited reciprocity for foreign judgements and arbitral awards is restricting the ability for Indian disputes to be solved overseas

  • Indonesia may amend material transaction rules

    Bapepam plans to alter controversial rules governing material transactions, to the relief of issuers and underwriters doing debt offerings

  • IFLR1000: Partner moves April 2010

    All the latest law firm hires across Europe, Africa, the Middle East, Asia and the Americas, from the IFLR1000

  • How IFLR1000 and Mergermarket tables compare

    See how Mergermarket's quantitative research for Q1 compares to the IFLR1000's qualitative data, in Europe and the America

  • Know your SEC reviewer

    Why it is crucial for listing companies to find out which group at the SEC is likely to review its initial public offering after filing

  • EU directive will push Asian funds regulation

    As EU ministers pledge support for the AIFM directive, Asian regulators are preparing their funds for greater oversight

  • Pru prospectus unravelled

    The fee riddle solved by standby financing, and the underwriting agreement without termination rights

  • US regulatory reform bill criticised

    After months of arguments and amendments, the US Senate finally passed its regulatory reform bill late last night. But this does not signal the end of the process and the language of the bill is still unclear

  • Demand disclosure from sovereigns

    Sovereign issuers can no longer rely on reputation alone when selling bonds. They must face up to industry disclosure standards, and investors should demand more too

  • CDOs in the spotlight

    CDO investigations have prompted concern over civil claims by investors. They could test UK precedents, which have so far favoured arrangers

  • First foreign listing in Taiwan explained

    In a development that will internationalise Taiwan’s stock exchange, Integrated Memory Logic has become the first foreign company to list on the main board

  • Restructuring a nation’s debt

    Greece’s sovereign debt could still need to be restructured. Lawyers must learn the lessons of previous national crises if they are to succeed

  • The stakeholders have spoken

    The Competition Commission of India’s Kaushal Sharma explains how India reworked its merger regulations

  • Banks’ US derivative fears revealed

    The push-out provision for spinning derivative portfolios and difficulties in managing new and old transactions are among US banks’ biggest worries

  • Volcker threat increases

    Despite derivatives reform being the primary cause for debate, the private equity industry is concerned about the impact of the Senate bill

  • Global coordination missing on US reform

    Concern is growing among lawyers that the importance of a worldwide effort to regulate is being forgotten

  • AIFM: industry favours Econ draft

    With the AIFM directive now into trialogue discussions the treatment of non-EU funds is still dividing opinion. Lawyers say funds favour the Econ draft

  • AIFM drafts split on disclosure and capital rules

    Disclosure thresholds and capital rules differ in the two AIFM directive drafts. But neither is ideal

  • US covered bonds: listen to Europe

    The US needs covered bond rules. Following Europe’s lead would make them cheaper to sell and remove the need for an issuing series trust

International briefings