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This year, the Turkish prime minister's favourite saying has been that the global economic crisis would touch Turkey "only tangentially". Arguably, he is right. The root cause of the financial meltdown was the collapse of the sub-prime mortgage bond market, and this was not the preferred type of security for many Turkish investors. Now, after waiting for the securities markets to settle, the Capital Markets Board (CMB) of Turkey has introduced the Communiqué on the Principles of Asset Covered Securities (Serial: III, No: 38), enabling issuers of securities to diversify financing opportunities.

Counsel are begging for clarity on Indonesia's new language requirements for deal documentation

The proposed law has too many exemptions and prohibitions that do not extend to M&A agreements

The Securities and Futures Commission's defence of its investigation techniques. And the market's response to that defence

In a distressed sale, is it reasonable for a liquidator to exit on receiving notice that his appointment is being challenged?

The National Council of Portuguese Financial Supervisors (NCFS), comprising the Bank of Portugal (BP), the Portuguese Securities Market Commission (CMVM) and the Portuguese Insurance Institute (ISP), has been focused on better regulation measures aimed at improving transparency and control over qualifying holdings within the Portuguese financial sector.

Where security is being held by a security trustee for the benefit of a group of financiers, a natural sentiment of these financiers is to want to be sure that the proceeds of the security will come their way in an enforcement scenario. The very term security trustee inspires trust that this will be the case. Recent developments, such as the collapses of Lehman Brothers and Landsbanki, have led financiers to look more closely at financing and security arrangements using an agent or trustee, and the risk financiers may run if these parties are no longer capable of performing their obligations. Can the rights of financiers be affected if a security trustee is declared bankrupt? And if so, to what extent?

Mexico's federal Congress recently passed a bill to amend the two main pieces of legislation that regulate federal government procurement, the Law for Government Acquisitions, Leases and Services (Ley de Adquisiciones, Arrendamientos y Servicios del Sector Público) and the Public Works and Related Services Law (Ley de Obras Públicas y Servicios Relacionados con las Mismas).

As the global economic crisis affects Albania and more borrowers default on loans, lenders are becoming increasingly concerned with the provisions of Albanian law on the preferential rights of creditors in enforcement procedures.

Two years after the establishment of the Specialist Fund Market, there have been few listings but the range of funds is diverse