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The ambiguity of China's new labour law is a challenge for employers, say Fiona Loughrey and Matthew Durham of Simmons & Simmons

Equity A record for Austrian issuance European real estate company Immoeast closed a capital increase of €2.8 billion.

The Finance and Economy Committee of the National Assembly of Korea has recently passed a resolution on the Corporate Restructuring Promotion Act (the Bill). The Bill is pending deliberation by the Legislation and Judiciary Committee, and a parliamentary plenary session. If enacted, it is expected to be put into force towards the end of September 2007 and to be effective until December 31 2010.

The Securities Industry Council (SIC) announced on June 8 2007 that it has decided to extend the Singapore Code on Takeovers and Mergers to property trusts structured as collective investment schemes (Reits).

Developments in the financial market have led to the creation of financial groups, called financial conglomerates, which provide services and products in different sectors of the financial markets. Until 2002, there was no form of prudential supervision on a group-wide basis of credit institutions, insurance undertakings and investment firms that are part of a conglomerate, in particular regarding the solvency position and risk concentration at the level of the conglomerate, intra-group transactions, internal risk management processes at conglomerate level, and the fit and proper character of the management.

The Warsaw Stock Exchange, the leading stock exchange in central and eastern Europe, with the market value of e224 billion has announced the opening of a new alternative trading system: NewConnect.

After a history of false starts, in late April the federal government announced its new climate change plan, Turning the Corner, which will establish Canada's first national emissions trading system. The government's Regulatory Framework for Air Emissions document describes the proposed air emissions regulations, which are broad and cover greenhouse gas (GHG) emissions and other pollutants.

Rule 144A is our biggest cost

Covenant-lites remove warning signs of potential shocks KKR and other private equity houses in the US pushed the boundaries of both takeovers and debt capital markets last month. First, predictions about the return of the tender offer appeared to be well founded when Laureate Education accepted an offer from a private consortium including KKR and Goldman Sachs. It was the biggest private equity tender offer since a key rule change last year. The SEC's amendments to the best-price rule in US tender offers became effective in December 2006. The changes increased certainty for buyers and led to predictions of an increase in the use of tender offers.

Are banks following the herd? European central banker Alexandre Lamfalussy last month challenged banks and their advisers to tackle a system he labelled a "fertile breeding ground for excessive risk taking."