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Implementing the EU Transparency Directive, the Austrian parliament has recently amended certain provisions of the Austrian Stock Exchange Act (Börsegesetz; BörseG).

Private equity exits are now a lot harder

In Britain, those that can remember the Second World War talk about the Blitz spirit. As London was bombed for 57 consecutive nights, it is said that communities banded together, crossed class boundaries and formed a wall against the common enemy. Such is the power of this story that it is brought up every time Britain faces a crisis. After the bombs in London on July 7 2005, life seemed to return to normal surprisingly quickly. Some newspapers loudly praised Londoners' Blitz spirit. Others, including my friends and colleagues, were rather more cynical: once the trains were running, there was no excuse not to go to work.

Lessons from Navajos

Wonkyu Han and Je Won Lee of Lee & Ko outline the ways that funds have been enabled to invest in alternative assets in Korea, from ships to carbon credits

Katsumasa Suzuki of Mori Hamada & Matsumoto assesses new requirements for internal controls over financial reporting in Japan and their impact on foreign issuers

How corporate governance reform is accelerating in Argentina, Mexico and Chile. By Antonia Stolper, partner of Shearman & Sterling LLP

Partly paid notes should be compatible with Italian securitization law, says Patrizio Messina, partner of Orrick Herrington & Sutcliffe

The Central Bank of Cyprus has tightened its guidelines for the commercial banking sector on lending to finance the purchase of second homes. With the aim of avoiding excessive property lending by commercial banks, the CBC has instructed them to limit loans for second homes to 60% of the value of the property – down from 70%. Banks may lend up to 80% of the value of a first home. Bank lending has increased by almost 25% over the past year and the CBC's action aims to shield commercial banks from excessive exposure, and thus avert the possibility of a US-style credit crunch.

Why a project's viability may ride upon the structure of commodity swap agreements. By Troy Alexander and Steven K Ross of White & Case LLP