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Claudia Chiper In October 2008, the EC reported that the legal framework set forth by the first Electronic Money Directive was holding back the development of the market. Therefore, with a view to enhance competition and to facilitate innovation in the developing field of e-commerce, in 2009, the EU adopted Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (EMD). Member states are expected to implement EMD into their national legislation by April 30 2011.

Philbert E Varona The Philippine government sponsored the Infrastructure Philippines conference held on November 18 to 19 2010 as part of its efforts to drum up investor interest in Philippine infrastructure projects and public-private partnerships. The conference was generally met with optimism from both potential project sponsors and financiers.

We'll know for sure in January. The Securities and Exchange Commission (SEC) is required to report to Congress concerning its view of the efficacy of existing legal and regulatory standards of care for brokers, dealers and investment advisers and associated persons who provide personalised investment advice to, and make recommendations about securities to, retail customers. The Dodd-Frank Act requires that this report be submitted within six months' time.

Chun-yih Cheng The Deposit Insurance Act was amended before the end of 2010 to expand its coverage to foreign currency deposits and interest on all covered deposits accrued until the last business day of the failed banks. However, insurance payments will be made only in the local currency (the New Taiwan dollar) regardless of the denomination of deposits.

Mafalda Monteiro At the end of December 2010, the Portuguese Government enacted Decree-Law 140-A/2010 (with immediate effect on December 31), which transposed three European Union Directives on financial matters and amended the respective Portuguese financial legislation.

Foreign contractors new to the Gulf region and bidding for contracts awarded by the Kuwait Government for the first time are often unaware of the Kuwait Offset Programme (KOP), and fail to factor the KOP's commercial impact into their project budgets.

As the global economic recovery quickens, M&A deals between foreign companies are on the rise, especially large scale cross-border M&A which can impact the Korean market.

Wolfgang Freund The Austrian stamp duty is a tax levied on various legal transactions concluded in written form. In general, the written instrument executed to document such transaction is the triggering event. The types of legal transactions which are subject to tax are enumerated in the Austrian Stamp Duty Act (Gebührengesetz, or the Act) and inter alia encompass loans, leases, guarantees, mortgages, bills of exchange, out of court settlements and assignment agreements for receivables or other rights against consideration.

The Cadbury-Kraft merger showed that US courts are not intent on resolving disputes arising under English law

European issuers and underwriters should supply investors with full credit facilities and intercreditor agreements to move the market forward