Not so unthinkable – the break-up of European monetary union The euro is under pressure after the demise of Europe's constitution. Gilles Thieffry assesses the legal risks of a member state pulling out of monetary union
Titan report sends proxy statement alert The SEC's report on Titan could stimulate securities litigation, but adding a simple clause to proxy statements should defuse the risk to companies. By David Bernstein
New leader could mean new tone for SEC Ben Maiden reports on how the departure of William Donaldson could affect the world's most important securities regulator
China Shenhua Energy lists in 2005's biggest IPO Louisa Gault assesses 2005's most complex international equity offering so far
Court warns that banks can be fiduciaries Ben Maiden reports on a ruling that exposes underwriters to new litigation risks
Clifford Chance advises on biggest CLO yet Demand for structured products continues to grow and deals are getting bigger to match this demand. By Louisa Gault
Islamic finance market turns to securitization Islamic finance has grown exponentially in recent years. Now many believe securitization is the next financing method to be adapted to comply with Islamic law. By Tamara Box and Mohammed Asaria
IFRS and M&A: more transparency but at a cost New and proposed international accounting rules attempt to blend a European approach with US elements. Increased transparency of deals will need to be weighed against additional costs of due diligence. By Kathryn Cearns
A blueprint for Chinese securitization China has released its first set of rules for securitization. Marianne Ramel, Béatrice de Meaux-Becdelièvre and Jiang Qian assess the measures
Australasia tackles banking integration Australia and New Zealand are seeking closer integration between their banking systems, but concerns that the New Zealand banking system could be vulnerable in a financial crisis are proving a tough obstacle. By Ross Pennington and Sarah Raudkivi
Two steps to better liquidity in China For multinational companies with Chinese operations, the country's liquidity restrictions make treasury structures difficult. But two legal changes make life a little easier for corporates. Jean-Marc Deschandol and Tom Luckock explain
The case for unifying the EU's insolvency laws Insolvency and restructuring laws across the EU are a mess of different approaches: some creditor-friendly, some creditor-hostile. Andrew Wilkinson, Tony Horspool and Ian McKim argue that it is time for change
UKLA fits EU's rules to London's gold standard Raj Panasar and Haydn Main review changes to the UK listing regime that took effect this month, and find practitioners broadly pleased with the British approach to European regulation
Court rules out securities holder suits Frances Cohen explains why the Seventh Circuit's decision in Kircher is a victory for defendants in securities class actions
How to play safe on document retention Kathy McFarland explains why companies should avoid complacency on document retention in the wake of Andersen's overturned conviction
Many EU states miss Prospectus Directive deadline The biggest change in Europe's capital markets for decades has arrived. Rules across EU member states for public offers of securities are now nominally harmonized, but implementation delays could paralyse markets. By Michael Evans
