Czech lawyers react to new legislation The Czech Republic's economy is into a second phase of development. Privatization is almost over and reforms are now stiffening regulation. The lawyers that are left must prepare for long-term work, not brief transactions. Paul Lee reports
Foreign lawyers in Hungary look beyond privatization When the second wave of sell-offs is completed, international law firms will have to compete for a niche in Budapest's financial markets. By Richard Forster
Procter & Gamble settlement leaves questions unanswered Denis M Forster of the Law Offices of Denis M Forster, New York, who advised Procter & Gamble and its trial counsel in its suit against Bankers Trust, offers a first-hand analysis of the court's holdings in the case
New Russian Securities Law bolsters regulator's powers The consolidation of Russia's securities regime, and the added teeth given to the regulatory authority, can only benefit the market. By James Christiansen of Coudert Brothers, Moscow
Public policy and derivatives: the question of responsibility Anne Crossfield* looks at the controversy surrounding the involvement of local government and municipalities in high-risk investments sparked off by the Hammersmith & Fulham and Orange County cases and concludes that in the US only further legislation is likely to resolve it
Italy overhauls financial regime alongside ISD implementation The implementation of the EU Directive on investment services has been the ideal opportunity to reform Italy's securities regime. By Susanna Beltramo and Sabrina Bruno of Studio Legale Beltramo, Rome
The SEC begins to produce considered view on the Internet US financial regulators have given a cautious welcome to certain uses of new technology. However, the Securities and Exchange Commission (SEC) still insists that existing regulation must be followed. Anne-Louise Childs reports
Electronic cash tests regulatory framework The advent of internet-based transactional systems challenges the traditional financial regulatory system. By Thomas Crocker of Shaw, Pittman, Potts & Trowbridge, Washington DC
Canadian securities regulators introduce electronic filing Beginning in October 1996, the electronic filing of securities documentation will become mandatory in Canada. Marguerite Mooney of Borden & Elliot, Toronto, reports on how market participants will benefit
The UK begins to face the challenge of new technology John Worthy and Duncan Calow of Denton Hall, London, examine the implications of digital technologies for the regulation of banking and financial services in the UK
Banking balancing act Johan Tyteca, head of the legal department at Kredietbank, talks to Diana Bentley
