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ENI in-house goes to Norton Rose The Italian office of Norton Rose has appointed Luigi Franco (right) as of counsel in Rome. Franco was previously in-house counsel at ENI Group for 15 years. Franco works in energy and infrastructure, and specialises in company law, real estate and arbitration. His work at ENI also covered domestic and international commercial activities of the group and he acted as general counsel to Snamprogetti SpA, ENI's engineering and infrastructure arm.

Record Indian equity offering The State Bank of India's dramatic headquarters Amarchand & Mangaldas & Suresh A Shroff & Co and J Sagar Associates have advised on a $4.38 billion rights issue for the State Bank of India (SBI) – the second-largest Indian equity offering to date. Amarchand Mangaldas, working alongside Allen & Overy's Hong Kong office, advised SBI on the offering, which included a $2.5 billion subscription by the Indian government. J Sagar Associates, along with Clifford Chance Hong Kong, advised the managers on the fully-subscribed issue.

Takeover opportunities could diminish

While broadly agreeing with bankers' counsel, James Tanenbaum believes that some are overly optimistic on Sarbanes-Oxley and too critical of the ratings agencies

In June 2003 the Financial Action Task Force on Money Laundering (FATF) passed 40 revised recommendations, including nine special recommendations following the 9/11 disaster. Currently the Swiss Parliament oversees the implementation of the FATF recommendations into Swiss law. The revised provisions mainly concentrate on the following measures.

In July 2008, the Tokyo Stock Exchange (TSE) will revise its listing rules with regard to the listing system for shares without voting rights (non-voting stock) and will also publish guidelines for such changes. Overall the changes are intended to allow more companies to list non-voting stock and to protect non-voting shareholders of such listed companies.

If credit holders have agreements allowing banks to sell a mortgage or pledge for an unlimited price and now face foreclosure, they should seek a good lawyer's advice. But it is better not to sign such agreements in the first place, argues Armands Rasa of BDO Zelmenis & Liberte

Managers are to increase shareholder value but social responsibility can also be a vehicle, say Andrius Ivanauskas and Sander Kärson of Bernotas & Dominas Glimstedt

The Baltic economies offer many opportunities. It is up to investors to make the most of them, say Natalja Sidorenko of Luiga Mody Hääl Borenius, Eugenijus Filonovas of Foigt & Partners Regija Borenius, and Lauris Liepa of Liepa, Skopina Borenius

In April 2008, the Luxembourg Commission for the Supervision the Finance Sector published its report for 2007. One of the aims is to clarify the legal environment applying to securitisation vehicles (SVs) governed by the law of March 22 2004 on securitisation, being: