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“There are no squeeze-out rules in the Middle East, so there’s no certainty of execution”

This year, 2009, is considered to be an important milestone in the trading and distribution sector in Vietnam. On January 1 2009, Vietnam committed under the World Trade Organisation (WTO) to allow full market access to foreign investors seeking to engage in the retail sector. This means that foreign investors are now allowed to establish a 100% wholly-owned company to engage in trading and distribution.

In reaction to the recent financial turmoil, Turkey has adopted a new law introducing tax benefits for taxpayers who repatriate or declare their unrecorded assets, including cash, foreign currency, securities and other capital market instruments, and even real estate. These benefits will cover both domestic and foreign-source income, and no tax inspections or reassessments will be made based on the declared assets.

Singapore Exchange (SGX) has issued a consultation paper seeking public feedback on the proposed permanent penalty framework for non-delivery of securities. For readers who are keen to read more on the proposed framework, the same may be accessed from SGX's website at www.sgx.com.sg. This is preceded by the implementations of SGX on September 22 2008 to prevent settlement failures of securities and abusive naked short selling. Short selling is the sale of securities or commodity futures not owned by the seller (who hopes to buy them back later at a lower price).

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

Don't be afraid of the Realogy court case. You can still negotiate terms

Round-up of deals

As companies feel the pinch, the calls for a pre-insolvency regime in Hong Kong are getting louder.

Mary Schapiro, CEO of the Financial Industry Regulatory Authority, has been nominated as successor to SEC Chairman Christopher Cox by Barack Obama.

Sophisticated loan documents are coming to China. In a move designed to encourage market consolidation, China is allowing direct acquisition financing for the first time – and welcoming the complex documents needed to govern these transactions.