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  • The 2008 rankings for law firm performance in M&A, private equity and corporate work reveal which law firms have adapted best to a turning market
  • The Madoff scandal creates no credible arguments for greater European regulation of hedge funds. The responsibility lies with investors and fund managers
  • Foreign investors will try to avoid unsophisticated civil courts imposing antique bankruptcy statutes
  • Securities firms outside the US now have to reveal to Ofac who their clients are. Singapore is a good example of how tricky this will be
  • The Acquisitions Directive has to be implemented across Europe by March 21 this year. With lawyers privately predicting that there will be "10 years of banking consolidation in 2009", there will be an early strain on the intentions behind the legislation.
  • China will get a framework for real estate investment trusts this year: "The Reits proposal is being studied by various regulators," confirmed Yingli Huo of the People's Bank of China, at a press briefing in January.
  • Companies would like to buyback their debt but worry about opaque market abuse rules. The other options aren't great
  • Liability management, bank capitalisation and hedge funds are the themes for 2009. Rachel Evans, Elizabeth Fournier, Nicholas Pettifer and Kyle Siskey make 17 predictions for the year ahead
  • Paul Browne and Charles Mayo of Simmons & Simmons analyse the reaction of banks in Asia to structured product disclosure, and other results of the Bankers' Counsel Poll
  • Banks' counsel point the finger at distributors for how structured finance was sold in Asia. That won't save banks from the litigation and regulation fallout