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The impact of Mifid on multilateral trading facilities

There is a problem in the legal profession to mirror the dysfunctionality in structured finance. So far lawyers have escaped the vitriol reserved for the current villains, the supposed predatory lenders and casual money mangers. But the fallout from the US subprime mortgage market has exposed the inadequacy of investor education and representation. Lawyers have a part to play, as buyers of complex collateralized debt obligations, derided as toxic in the financial press, do not understand the risks they are taking.

Privatization and PPP work by involving the private sector in fields which were exclusively held by the public sector, such as conditioning of minerals, land passenger transport, transport of goods, telecommunications and others.

The amendment to the Monopoly Regulation and Fair Trade Act (the MRFTA) was passed during the parliamentary plenary session held on July 3 2007. If put into force, this amendment will mark the second amendment to the MRFTA in 2007, after an earlier amendment in April.

The Market in Financial Instruments Act entered into force on August 11 2007. The main reason for its adoption is the implementation of the Market in Financial Instruments Directive (2004/39/EC) (Mifid), the directive on the harmonization of transparency requirements in relation to information about issuers whose securities are admitted to trade on regulated markets (2004/109/EC) (the Transparency Directive), and Directives 2006/48/EC and 2006/49/EC on the capital adequacy of investment firms and credit institutions, in a scope applicable to investment firms.

The credit crunch has one firm lesson for lawyers: investors need better advice on structured finance

New national security laws

Czech bankruptcies are the least effective in the European Union, with creditors receiving on average just 19% of the nominal value of their claims. At the same time, the duration of the average bankruptcy proceeding – five years – is among the longest in Europe. The government is attempting to improve the situation with a new insolvency act, scheduled to become effective on January 1 2008.

Do listed companies' websites comply?

Subprime ignites the debate in the US