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  • Distressed banks can be rescued more easily
  • Shareholders are now less likely to be convicted of coordinating their votes
  • The regional idiosyncrasies of real estate investment trusts in Europe
  • A new GmbH Law is expected to come into force mid-2007. A variety of mandatory revisions must be implemented into a Swiss GmbH's articles over a two-year transition period. This compulsory overhaul might also lead to a general review of a GmbH's articles in light of various new corporate law planning opportunities. Some might even consider transforming existing Swiss share corporations (AG) into GmbH to benefit from certain corporate structures.
  • Isda revises interest rate and currency definitions The International Swaps and Derivatives Association has published new definitions for interest rate and currency derivative trades.
  • The Banking (Amendment) Bill was introduced in parliament on November 8 2006, following earlier public consultation by the Monetary Authority of Singapore (MAS).
  • To meet the requirements implied by Romania's recent accession to the EU, Romania has created a new legal framework to regulate banking activity, Emergency Order 99/2006.
  • The new Slovenian Banking Act (ZBan-1) became effective on January 1 2007. It introduces stricter and more complex mechanisms for capital adequacy, in line with the Basel II standards (EC Directive 2006/48/EC on the taking up and pursuit of the business of credit institutions and EC Directive 2006/49/EC on the capital adequacy of investment firms and credit institutions).
  • Foreign lawyers will soon be prohibited from entering into any cooperative business arrangements with their Korean counterparts (in the form of joint venture, alliance or employment), according to a draft bill under review by the Korean Ministry of Justice.
  • A report on the position of New York as the world's leading financial centre has identified urgent need for legal and regulatory changes