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Pemex’s listing of GDNs could pave the way for other sovereign issuers to increase local bond liquidity. Here’s how it was done

Hyeon Tak Shin Recently, South Korea's National Pension Fund Operation Committee amended the Guidelines for Voting of the Fund to deliberate on the independency of outside directors, signaling the start of an attempt by the National Pension Service (NPS) to strengthen its shareholder's rights which were previously almost neglected.

Over 250 private practice, in-house counsel and special guests came together at The Dorchester in London on March 22 to see Clifford Chance pick up the prestigious international firm of the year award, breaking Linklaters’ five-year winning streak. Emmanuel Maurice of the EBRD was awarded the lifetime achievement award, while Svein Andresen of the Financial Stability Board accepted the regulatory achievement award on behalf of Paul Tucker, deputy governor of the Bank of England.

Chun-yih Cheng In order to strengthen the protection of personal data, Taiwan's Computer Processed Personal Data Protection Act was amended in May 2010. The new Act extends to all persons, natural or juristic, and all personal data directly or indirectly leading to a living natural person. In particular, sensitive personal data, including medical treatment, gene, sexual life, health check and criminal records, are in principle not allowed to be collected.

Yau Khai Ling Nicole Ong Hwee Koon In Orchard Capital I Ltd v Ravindra Kumar Jhunjhunwala [2012] SGCA 16, the Singapore Court of Appeal propounded the important principles concerning the interpretation and the legal effects of non-exclusive jurisdiction agreements.

Nollaig Murphy Andrew Quinn Stephen McLoughlin

Christian Temmel The Austrian Stock Exchange Act contains an authorisation for the Austrian Financial Markets Authority (Finanzmarktaufsichtsbehörde, or FMA) to enact a regulation by which the duties and obligations of issuers of financial instruments are specified with respect to the prevention of insider dealing and market manipulation. The FMA has made use of this authorisation and enacted in 2007 the so-called Issuers' Compliance Regulation.

Morrison & Foerster Address

Chinonyelum Uwazie Since 2008, the Nigerian capital market has witnessed severe decline in the value and volume of shares traded on the stock exchange. While some attribute the decline to the unsavoury practices that trailed the previous administration of the exchange, others attribute it to the fallout of the global financial meltdown. Following the collapse of the market, the Nigerian Securities and Exchange Commission (SEC) made several reforms, including review of the law relating to share buy-backs in quoted companies.

Carlos N Lafargue The Spanish Act 38/2011, of October 10 2011, has amended the Spanish Insolvency Act 22/2003 introducing a new controversial sentence in article 90.1.6 stating that the "pledge securing future credits will only grant a special privilege to credits arising prior to the declaration of insolvency, as well as to credits arising after such declaration, when reinstated by virtue of article 68 or when the pledge was recorded in a public registry prior to the declaration of insolvency".