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Until recently, national corporate law made cross-border mergers into Hungary or out of Hungary highly complicated. On an EU level, several milestones have been achieved in the past decade: the SE-Regulation, the ECJ's Sevic judgement and the Cross-Border Mergers Directive (Tenth Directive, 2005/56/EC, of October 26 2005). The Directive was implemented in Hungary with the new EU Merger Act (Act CXL of 2007, A tökeegyesítö társaságok határokon átnyúló egyesüléséröl, EU Merger Act). The new provisions entered into force on December 15 2007.

The Banca d'Italia and Consob recently enacted a joint regulation dated February 22 2008 pertaining to post-trading systems. The new text regulates the establishment and operation of systems designed to ensure the good end of transactions in financial instruments, other than derivatives, carried out in regulated markets.

The Austrian regulator, the Financial Market Authority (FMA), has implemented EU Directive 2006/48/EC relating to credit institutions, bringing in the Regulation on the Solvency of Credit Institutions (for credit risk mitigation see Annex VIII of that Directive). The Solvency Regulation (Solvabilitätsverordnung – SolvaV) sets out detailed rules on the risk weighting of a credit institution's exposure. In addition to collateral in rem (also including financial collateral) and netting, a credit institution may accept personal collateral in order to mitigate credit risk.

As part of the continuing changes in Bosnia and Herzegovina's (BiH) laws as it moves towards the EU, the parliament has adopted the Public Procurement Law (Procurement Act). The EU's Public Procurement Programme for Bosnia and Herzegovina assisted with implementing the new law, by preparing guidelines and organising seminars and programmes for the new officers of the Public Procurement Agency and Public Review Body. The Procurement Act is based on EU policies designed to ensure that public funds are used in the most cost-effective and transparent manner, and to ensure fair and active competition among potential suppliers; the Agency estimates that each year KM27 million ($21.2 million) is paid in bribes to public officials involved in public tenders.

The awards results from Asia and Europe. Linklaters will be very happy, but it didn't have the best cufflinks

UCLA professors Lynn Stout and Iman Anabtawi argue that activist hedge funds should have fiduciary duties

Last night, Shearman & Sterling won law firm of the year at the IFLR Americas awards at the Waldorf Astoria in New York

Including all 23 national winners

Discussion has led to helpful changes in Swiss M&A regulation, say Alexander Vogel, Christoph Heiz, Wolfgang Muller and Thomas Ladner of Meyer Lustenberger

The Aeroméxico takeover shows that the Mexican system can cope with hostile takeovers, say The M&A Group at Creel y Garcia-Cuellar