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The Securities and Exchange Commission (SEC) has released proposed revisions relating to the registration and ongoing disclosure obligations for mortgage-backed securities (MBS) and asset-backed securities (ABS). The 700-plus pages describe substantial changes to the current framework. For example, in order to be eligible to use a short-form registration statement in connection with ABS, an issuer must retain a portion of each tranche of offered securities, for the term of such securities.

The International Service Law (ISL) regulates the establishment and operation of service parks and service centres, as well as the responsibilities of owners of companies that provide those services. It was enacted in El Salvador as a solution to many services provider companies that were operating under the Industrial and Commercial Free Trade Zone Law (FTZL), which was not originally created for that purpose. The ISL has similar benefits and fiscal incentives as the FTZL, but is tailored for these kinds of companies.

On March 10 2010, the Korean government submitted a revised bill of the Commercial Code to the National Assembly that introduces poison pills in Korea. It does so by granting existing shareholders certain rights to acquire new securities. This so-called New Share Acquisition Option system allows the poison pill in Korea to be used as a defensive measure against hostile takeover threats. It is not a general allowance of warrants that can be used as a financing method, which is not allowed under Korean law. The main aim of the Korean government in introducing the poison pill in Korea is to foster fair competition between potential acquirors and targets by striking a fair balance between offensive and defensive measures available in the Korean market for corporate control. The hope is that this will prevent waste of corporate resources devoted to hostile takeover defenses (such as greenmail). These resources should instead be devoted to more productive uses such as investment and research and development spending.

Iulia Bunescu Increased awareness and concern on the effects of global warming has prompted society to find ways to minimise the effects of gas emissions on climate changes.

Mafalda Monteiro The Portuguese legal framework on payment services and payment institutions' licensing requirements was approved by way of Decree-Law No. 317/2009, on October 30 2009, which transposed into Portuguese law Directive No. 2007/64/CE, of the European Parliament and of the Council on November 13 2007, on payment services in the internal market.

New bridging arrangements have opened up Hong Kong’s securities markets further. Here’s how they worked on Fortune Reit’s listing

The Tokyo Stock Exchange has amended its rules to allow simultaneous demutualisation and listing – a boost for life insurers

The SEC’s proposed overhaul of Regulation AB is attracting criticism for its introduction of skin-in-the-game and the increase of disclosure required for private placements

How the decision to repeal the safeguard procedure for a Lehman Brothers securitisation vehicle will support security arrangements for French structured finance

Hong Kong wants statutory backing for the disclosure of price-sensitive information. But the exchange and SFC must work together