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A new flexible structure from Carrera will be much copied

We need definitions

Recommended firms Tier 1 Barbosa Müssnich & Aragão Machado Meyer Sendacz e Opice – Advogados Mattos Filho Veiga Filho Marrey Jr e Quiroga Advogados Pinheiro Neto Advogados White & Case Tier 2 Lefosse Advogados Levy & Salomão Advogados Motta Fernandes Rocha Advogados Pinheiro Guimarães – Advogados Souza Cescon Avedissian Barrieu e Flesch Advogados Tozzini Freire Teixeira e Silva Advogados Brazil has enjoyed a strong year as it leads the economic improvement seen across much of Latin America. The initial public offerings (IPO) market has boomed, with the value of deals more than doubling from just under $1.8 billion in the first nine months of 2005 to $4.2 billion in the same period this year.

Investors need to consider their intentions in Chinese banks

To ensure investor protection and confidence in the securities market, the Securities and Exchange Law (SEL) prohibits relevant parties of a listed company, such as executives, employees and large shareholders, from selling and purchasing securities with knowledge of matters that could have a material effect on the company's share price before those matters are made public.

Recommended firms Tier 1 Bär & Karrer Homburger Lenz & Staehelin Niederer Kraft & Frey Tier 2 Baker & McKenzie Nobel & Hug Pestalozzi Lachenal Patry Schellenberg Wittmer Walder Wyss & Partners Wenger & Vieli The Swiss capital market performed steadily in 2006. Small declines have characterized the figures for initial public offerings (IPOs), high yield bonds and investment grade bonds, but there have been no marked falls.

The statistics for the German equity market in 2006 make happy reading for law firms handling equity brokerage in Europe's largest economy. While the overall value of initial public offering (IPO) deals nearly doubled from $3.3 billion in the first nine months of 2005 to $6 billion in the first nine months of 2006, the really impressive jump was in the sheer volume of transactions. The $3.3 billion was generated by just 12 IPOs while the number of deals in 2006 soared to 51.

Recommended firms Tier 1 Hannes Snellman Roschier Holmberg White & Case Tier 2 Castrén & Snellman Merilampi Marttila Laitasalo Waselius & Wist Tier 3 Borenius & Kemppinen Equity in the Nordic region proved extremely popular in 2006, with the few large initial public offerings heavily oversubscribed. The lack of IPOs, together with the competitiveness of bond or bank issuance as a source of funding for Finnish companies, made secondary placements a more fertile source of deals for bankers and their lawyers. These included two placings for Sampo Housing Loan Bank.

Need for SEC relief

Earlier this year, the United Arab Emirates ratified its accession to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958, more commonly known as the New York Convention. After the recent satisfaction of certain procedural requirements, the Convention will obtain force of law in the UAE from November 19 2006. By ratifying the Convention, the UAE joined its GCC neighbours Oman, Bahrain, Qatar and Saudi Arabia, where the Convention already enjoys force of law.