US firms embrace English law capability The last 18 months have seen an explosion in the number and size of US firms with English law capability in their London offices. Other firms are steadfastly following their own strategy. Paul Lee reports
UK lawyers enjoy the boom but face new competition UK firms have ambitious plans for US law capability and expansion. But they are facing competition from US, regional and big six-linked firms. Samantha Wigham reports
Fed expands role of Section 20 companies A liberalization of US Federal Reserve rules on the securities activities of bank holding company affiliates could be a window of opportunity for foreign banks. By Nancy Jacklin of Clifford Chance, New York
Winning recognition Ken Mildwaters, group legal and trade marks director of Guinness PLC, talks to Diana Bentley
Making the case for legal compliance audits Costly asset management failures are dramatic evidence of the need for third party audits of advisers’ practices, says Marcia MacHarg of Debevoise & Plimpton, New York
French implement the ISD Directive The recent law implementing EU financial services policy in France has introduced ‘regulated markets’, ‘market enterprises’ and other new concepts. By Antoine Maffei of De Pardieu Brocas Maffei & Associés, Paris
Offshore futures brokers enjoy window of opportunity in US Growing numbers of foreign futures brokers are taking advantage of the registration exemptions offered by the US Commodity Futures Trading Commission. By Michael S Sackheim of Brown & Wood LLP, New York
Brazil introduces depositary receipts regime A three-tier mechanism now permits foreign issuers better access to the Brazilian markets. By Sergio Spinelli Silva Jr of Mattos Filho, Veiga Filho, Marrey Jr, Moherdaui e Quiroga, São Paulo
Commission rethinks views on vertical restraints The European Commission has published its deliberations on antitrust and distribution in Europe, giving an opportunity for debate on the framework for a new policy for the next century. By Ivo Van Bael of Van Bael & Bellis, Brussels
Korea introduces bank deposit insurance scheme The Korean government has recognized that depositors’ interests must be safeguarded by the state. But improvements need to be made, argues Dong Won Ko of the Institute for Monetary & Economic Research, The Bank of Korea, Seoul
Cross-default confusion Cross-default clause amendments have become standard in many derivative contracts. But they are not always welcome, argues Ebo Coleman, barrister, London, proposing alternative wording
