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Mandatory disclosure of short positions will create transparency and be helpful to the market. However, the debate over who short sellers should disclose to and at what thresholds rages on

After US Federal Reserve stress tests are revealed, the government could own a voting stake in 19 of the country’s largest banks.

After reorganisations that took several years, Switzerland, in the midst of the worldwide financial crisis, reorganised the supervision of its financial markets. On January 1 2009, the Federal Act on the Swiss Financial Market Supervisory Authority (Finmasa) became effective. With its implementation the Swiss Federal Banking Commission (SFBC), the Federal Office of Private Insurance and the Anti-Money Laundering Control Authority (AML Control Authority) have been merged into one single authority, the Swiss Financial Market Supervisory Authority (Finma). As of that date Finma has become the legal successor of these three merged authorities, whereby existing agreements and pending business was taken over by Finma.

India's insolvency and restructuring regime is fragmented and not consolidated under one comprehensive code, explains Cyril Shroff of Amarchand & Mangaldas & Suresh A Shroff & Co.

In Sweden, as well as in many other countries, the financial crisis has taken its toll on society in general, and banks in particular. The primary concerns of the Swedish banks during autumn 2008 were funding and other liquidity issues. Therefore, the Swedish National Debt Office (Riksgälden) launched a guarantee scheme as a part of the Government's overall package of measures to strengthen the stability in the Swedish financial system. The scheme applied for a fixed term up to April 30 2009, but has recently been extended until at least October 31 2009. Until recently, only two banks – Swedbank and SBAB – have entered into the scheme, although most Swedish banks have not yet renounced a guarantee from the Government under the initiated guarantee programme.

The Penalty Clause is a commonly used provision in both civil and commercial agreements. As the doctrine defines it, the Penalty Clause is "the accessory agreement permitting the parties to establish in advance the damages to which a creditor will be entitled in case of non-performance, delay in performance, or improper performance by the debtor of its contractual obligations". The Penalty Clause is regulated by the provisions of the Romanian Civil Code under articles 1066-1072 and 1087.

On March 18 2009, the Korea Communications Commission (KCC) finally authorised the merger of KTF into KT. KT is the largest communications company in Korea and is engaged in communications businesses including wire telephone and high-speed internet; KTF is the second largest wireless phone company in Korea and is a subsidiary of KT, which holds 54.3% of the total number of issued shares of KTF.

The Supreme Court of the Philippines promulgated its decision in Republic v Eugenio, Jr (2008), which effectively restrained the initiatives of the Anti-Money Laundering Council (AMLC) to combat money laundering activities in the country.

On June 1 2009 the firewall regulations for banks, securities firms and insurance companies will be revised when an amendment to the Financial Instruments and Exchange Act (FIEA) takes effect. This amendment marks a change in the Japanese government's approach to regulating the management of financial institutions, as it reduces the current restrictions and relies more on industry self-regulation, a move which is expected to make Japanese financial institutions more competitive.

Article 76 of Royal Decree 267 of March 16 1942, as subsequently amended and supplemented (the Bankruptcy Law), provides that stock exchange contracts expiring after the declaration of bankruptcy of one of the contracting parties are terminated on the date of declaration of bankruptcy.