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  • Despite establishing an independent derivatives market that supports its unique economic model, China could follow international best practice in 2010 by introducing close-out netting
  • The creation of a European Securities and Markets Authority will be “the single biggest regulatory reform for 25 years,” says one lawyer in London. And worries centre on how far its enforcement powers will stretch
  • Enquiries from the Federal Trade Commission and the Department of Justice are slowing deals. Sellers are beginning to counter this risk with extra provisions
  • India is finally set to implement its merger regulations this year. Companies will hope that the Competition Commission of India reconsiders its filing thresholds and timeframe
  • The biggest predictions are always the hardest to make. This is epitomised by lawyers’ reaction to wide scale financial regulations in the US this year
  • Competition between stock exchanges in Asia is set to increase in 2010 as Shanghai seeks to assert itself, attracting Chinese and regional listings
  • Novartis/Alcon is set to ask whether minority shareholders can expect a fairness opinion that considers higher bids for majority shareholdings
  • Cov-lite loans were criticised during the financial crisis. But cov-lite elements to deals are being used again in the US, with their popularity set to rise throughout 2010
  • With valuations mismatched and bank lending still slow, US private equity purchasers will turn to earn-outs and seller financing to bridge the gap in 2010
  • Flipper clauses will continue to gain popularity as a means of forcing bondholders into new agreements