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In an attempt to further develop the Ukrainian banking system and better ensure its transparency and security for investors, the Ukrainian parliament has introduced new requirements for the organizational form of Ukrainian banks. Adopted on September 14 2006, they are effective from October 4 2006.

In Switzerland, prospectus liability aims to protect the confidence and capital of investors, and the reliability of information distributed on the capital markets. But a recent decision of the Swiss Federal Supreme Court highlights once again the difficulty of making a successful claim for prospectus liability under Swiss corporate law and the illusory nature of investor protection.

In a time of many market consolidations, mergers, and acquisitions, issues related to minority shareholders have occupied many companies and law firms. Legislation that will settle the current regulation of takeovers is on its way, as Slovakia adopts EU directives.

Issuers may find it hard to copy ICBC's listing

ABS is struggling with derivatives disclosure

Recommended firms Tier 1 Bär & Karrer Homburger Lenz & Staehelin Tier 2 Baker & McKenzie Niederer Kraft & Frey Pestalozzi Lachenal Patry Vischer Walder Wyss & Partners Wenger & Vieli M&A deal value more than doubled in Switzerland last year, rising to $40.3 billion from $19 billion in 2005, according to data from Dealogic. Activity remained remarkably consistent in terms of deal volume, with Dealogic recording 227 transactions for 2006 and 225 for 2005, revealing that M&A instructions were considerably more lucrative for banks and their legal advisers.

Recommended firms Tier 1 Freshfields Bruckhaus Deringer LeBoeuf Lamb Greene & MacRae Linklaters White & Case Tier 2 Akin Gump Strauss Hauer & Feld CGS&H Baker & McKenzie Clifford Chance Salans Skadden Arps M&A in Russia has been an unmitigated success this year. The total number of transactions has more than doubled, from 493 to 1,111, while the value of those deals leapt from $39.7 billion to $65.5 billion.

Recommended firms Tier 1 Allen & Overy De Brauw Blackstone Westbroek Tier 2 Clifford Chance Freshfields Bruckhaus Deringer NautaDutilh Stibbe Tier 3 Houthoff Buruma Loyens & Loeff Simmons & Simmons The Netherlands has seen large M&A increases in January to October (inclusive) compared to last year's results, according to Dealogic. In private equity, the amount of deals has fallen by 14, but the total deal value has risen by almost three quarters. The past year's 78 deals yielded $21.97 billion, but the 64 deals closed in 2006 have brought in $35.26 billion.

Mexico city recently witnessed the first ever leveraged buyout in the country, the $200 million joint acquisition of Controladora Milano The first 10 months of 2006 has seen a boom in Mexico's M&A activity. Company-to-company deals have almost doubled from 65 totaling $5.14 billion to 123 deals totaling $9.77 billion. The rise on the private equity side does not contain such dramatic figures, but the combined deal value has risen from $130 million (from eight deals) to $229 million (from seven deals).

Recommended firms Tier 1 A&L Goodbody Arthur Cox Matheson Ormsby Prentice William Fry Tier 2 McCann FitzGerald Tier 3 Mason Hayes & Curran Irish M&A statistics for the last year provide interesting reading. Law firms have not enjoyed a massive growth in work, as the volume of deals has been static while the overall value soared.