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Banks will get their own, tailored rules In a move that may be the start of a more synchronised approach to regulation, Britain and America are creating a transatlantic working group to reform the banking system.

Hong Kong investors need help hitting the books Hong Kong has seen its first bout of litigation caused by sub-prime lending debacle. But the case also raises more questions about misselling and investor education in Hong Kong.

Emin Sanli, Serdar Tunçbilek and Vanessa Quartey-Davies of Bener Law Office tell why Turkey leads the way when it comes to joint ventures

Analysis courtesy of Garrigues, Spain

The details from Uria Menendez, Spain

Zeynep Ergun Ozeren and Ayse Nur Sanli of YükselKarkin Küçük outline Turkey's procedures for monopolies

Covington & Burling continues to expand its private equity group in New York.

Debt Davis Polk & Wardwell has advised Oracle on a $5 billion aggregate senior notes offering. The placement was offered through a syndicate led by Citi, Credit Suisse Securities, and Morgan Stanley. The underwriting syndicate was advised by Simpson Thacher & Bartlett.

The National Bank of Romania (NBR) Regulation number 1/2008 with respect to the transformation of financial institutions into credit institutions was published and came into force in the Official Gazette on January 30 2008. The general framework with respect to the possibility of the transformation of financial institutions into credit institutions was initially provided by the Government Emergency Ordinance number 99/2006 on capital institutions and capital adequacy (the Banking Law). The Banking Law also provides that secondary norms related to the above matter may be issued by the NBR. Consequently, in accordance with such competences, the NBR issued the Regulation.

The President's Working Group on Financial Markets committees released two sets of best practices guidelines for investors and hedge fund managers last month resembling the voluntary guidelines in the UK. Many in the legal community see this as a step in the right direction.