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Lawyers in Hong Kong are more open about China when they're drunk. At firm parties, with a few fruity cocktails inside them, the Sino platitudes tend to fall away. Nervy marketing colleagues may try to calm the storm, but they push on regardless. Before long, China's supposedly rapidly developing regulation seems less speedy.

A hole in the SEC's plan

How lending contracts can be planned to deal with future events

Annual meeting hears lawyers' fears

Lawyers blamed for hedge fund accidents Lawyers are more used to conducting litigation than being its target. But this is changing, as hedge funds lash out at the legal representatives giving them bad advice. As a session at the IBA conference in Singapore last month on the role of hedge funds in financial restructurings heard, counsel is increasingly being accused when investments go wrong.

New securities law a success

The biggest awards dinner yet

Combining securitisation and covered bonds could be the future for bank funding

Issuing into the US could be easier and cheaper than Aim

After almost everything that could be said about accounting fraud and corporate misdeeds has been said, the financial media predictably turned a spotlight on highly paid corporate executives. The glare of the spotlight and ugly headlines in part led to the SEC's adoption in 2006 of comprehensive reforms to the executive disclosure requirements for US reporting companies. These principles-based executive compensation disclosures were intended to provide investors with clarity concerning the total value of executive compensation and termination arrangements. The centrepiece of this plain English disclosure initiative was a new section called Compensation Discussion and Analysis, or CD&A, which first appeared in 2007 proxies. The CD&A section was meant to provide a normative discussion from management concerning the operation and results of its compensation process. Well-intentioned registrants and their advisers dutifully complied with the SEC's requirements for detailed disclosure. The result was 30 to 40-page CD&A sections that were anything but transparent.