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Ji Yeoun Kim The retirement pension plan in Korea first became available in 2005 after the passing of the Employee Retirement Benefit Security Act (ERBSA). At the time of introduction, adoption of the retirement pension plan was not obligatory and it could be determined with mutual agreement by the employer and the worker. The worker was free to choose a plan from among defined benefit (DB) plans under which the level of a worker's benefits is predetermined, or defined contribution (DC) plans under which the level of an employer's contribution is specified, and the worker retains the right to decide how the contribution should be managed.

In the previous issue the author noted that due to particularities of Polish law (dating back to the beginning of the 20th century), securing of a multi-facility syndicated structure with Polish law governed security interests usually requires the use of special concepts such as parallel debt.

Jeroen den Hamer Joost Volkers The Dutch statutory prohibition on financial assistance for Dutch private limited liability companies (BVs) prohibits a BV – and its (foreign) subsidiaries – from granting security, providing a price guarantee or otherwise supporting or binding itself jointly and severally with or for third parties for the purposes of the subscription or acquisition by others of its shares, or depository receipts thereof. It also prohibits a BV from providing loans for these purposes (acquisition loans), unless certain statutory requirements have been met.

The National Commission for Banks and Insurance Companies (Comisión Nacional de Bancos y Seguros, CNBS) is legally in charge of regulating and supervising banks, insurance companies and securities operations in Honduras.

On February 5 2012, India's insurance sector regulator, the Insurance Regulatory and Development Authority (Irda), released a discussion paper to assess whether the bundling of insurance cover should be continued.

Alexander Vogel, Daniel Schoch and Debora Kern of meyerlustenberger discuss the range of liabilities on de facto directors and officers under Swiss law

Alberto Núñez-Lagos Burguera and Teresa Camacho Artacho of Insol Europe explain how a recent Spanish court decision rebuts the presumption of the existence of an establishment

Bate C Toms Svitlana Stepaniuk Under the new Tax Code of Ukraine, there is an express prohibition on the inclusion in cross-border agreements, including in particular for cross-border loans, of a so-called gross-up clause.

Chun-yih Cheng To strengthen corporate governance and to address certain practical issues, the Taiwanese Companies Act was amended on December 14 2011, mostly triggered by legislators', rather than the administration's, initiative:

Yoichi Maekawa The term Islamic banking refers to banking transactions that are made in compliance with the religious principles of Islam. For instance, Islam prohibits the imposition of interest obligations, and this raises unique issues with respect to lending arrangements and the issuance of debt instruments. In Japan, conventional bonds issued in accordance with the Companies Act generally provide the bondholder the right to receive interest payments on the amount invested or paid for the bond and, as such, do not comply with Islamic tenets.