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

New York goes it alone on CDS Senator Dodd's financial bill does not propose the treatment of credit default swaps (CDS) as insurance, so New York State is taking the law into its own hands.

On the face of the Spanish EU Presidency The withdrawal of the Alternative Investment Funds Managers (AIFM) Directive from the agenda of Ecofin's March 16 meeting has thrown its future into doubt, and undermined the EU's qualified majority rules.

Mutual funds have been given a greater role in improving Indian companies' governance.

Unlikely to be repeated With Dubai World set to receive a $9.5 billion cash injection, the market is considering lessons from the near-default. The state-owned company's troubles have exposed short comings in local law – especially Dubai's insolvency regime – that need to be addressed.

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

Most of us now know the details of Goldman Sachs's involvement with the ill-fated Abacus CDO and the fraud action from the Securities and Exchange Commission (SEC), as well as Goldman's indignant response. But what does it mean for banks and their relationship with both interrelated products and regulators? Elizabeth Fournier and Nicholas Pettifer spoke to bankers' counsel immediately after the news broke. One key concern emerged: the convergence of wrappers in products and the muddying of boundaries between products that this brings.

The firm expands its private equity practice

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.