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From October 1 2010, banks, insurance companies, non-bank moneylenders and Financial Instruments Business Operators (including investment advisers and investment managers as well as securities companies; collectively, the FIBOs) under the Financial Instruments and Exchange Act (the FIEA) are required to undertake certain measures for the handling of complaints from and the resolving of disputes with their customers or clients.

Anthony Coleby Early 2009 saw the introduction in Kuwait of Law Decree No 2 of 2009 On Enhancing State Economic Stability, otherwise known as the Financial Stability Law. Its aim was to assist the country's banks and investment companies, many of whom had been badly affected by the global economic crisis that had begun with the collapse of Lehman Brothers in September 2008. This briefing covers assistance to investment companies; a future one will cover assistance to banks.

The recent US legislation has good intentions, but its exemptions and emphasis on disclosure and standards undermine its purpose

The European Supervisory Authorities could wield significant influence over national supervisors and individual firms

Peter Schwartz Last month's high yield in London are part of a wider trend in the city to hire capital markets specialists. This month it was Milbank Tweed Hadley & McCloy to step up its operations as it hired Peter Schwartz from US rival Weil Gotshal & Manges.

The improvements to the Directive will make it easier to sell cross-border securities from and into Germany

The big news this month in the Americas is Jones Day's launch in Brazil. The firm is set to open a São Paulo office with Madrid M&A partner Luis Riesgo moving across to head up the operation.

Dodd told attendees at the annual Sifma conference they didn't appreciate what it took to get Tarp through Congress

Soonghee Lee Since equity-linked securities (ELS) were first introduced to the Korean capital market in 2003, the market has grown to over W20 trillion ($17.8 billion) in annual issuance. Among the ELS products are principal-protected products and non-principal protected products, internal hedge structures and back-to-back hedge structures. In general, although it depends on the products, the principal and a fixed rate of return are paid to investors if the stock prices of the underlying assets of ELS maintain a certain level on the early redemption date or at maturity.

Liam Carney David Maughan In the recent case of Blue Sky One Limited and Others v Mahan Air and Another (the Blue Sky Case), the English High Court confirmed that the validity of an English law aircraft mortgage is to be determined by the law of the place where the aircraft is situated (the lex situs) on the date that the English law aircraft mortgage is executed. The High Court explained that the reference to the lex situs is to the domestic law of the place where the aircraft is situated, and not to its entire law including its choice of law rules, so that the doctrine of renvoi does not apply.