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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.

Law 196 of December 31 2009 introduced a major reform to the public accounting and financial system. The new accounting law aims at harmonising the structure of budgets and the accounting rules applicable to the public sector.

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

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

Debt and equity-linked

Francisca Perez, Morales Besa & Abogados After several years of negotiations, last February 4 the governments of the US and Chile signed a double taxation treaty with respect to taxes on income and capital. This convention will integrate the Chilean treaty network of over 20 agreements as of this date.

Shariah scholars are still giving inconsistent opinions. Pressure is growing to clarify which structures are compliant