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

Elias Neocleous Costas Stamatiou The Cyprus government's proposal to reduce the tax burden on companies engaged in international maritime transport by introducing a special tax regime for them has received approval from the European Commission.

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.

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.

On March 23 this year, Indonesia eventually signed a tax treaty with Hong Kong which was one of the blacklisted countries pursuant to old Indonesian Controlled Foreign Corporation rules. Although Indonesia has signed a tax treaty with China in 2001, Hong Kong was not covered in that treaty.

In the wake of financial market turmoil, Austrian banks have rediscovered the appeal of participation capital – an Austrian law-specific instrument for increasing the core tier one ratio and enhancing risk-bearing capacity. Almost all major Austrian credit institutions (except Unicredit) have issued participation capital over the last year, drawing on the state's assistance under the Austrian financial market stability scheme (because participation capital was either in whole or in large part subscribed by the state as investor).

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

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

Debt and equity-linked

Goldman Sachs’s Abacus transaction has revealed how origination practices at investment banks have become dangerously interconnected. In-house tried to stop it, but now they might be left to deal with the consequences