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Will Chile's plans to open its bond markets work?

Boon for MBOs

The Capital Markets Law, and the secondary legislation of the Capital Markets Board (CMB) are the primary sources of legislation governing the Turkish capital markets. Accordingly, mutual funds in Turkey are established pursuant to the Capital Markets Law and CMB's regulations. Under the Communiqué Regarding Mutual Funds, 12 different types of mutual funds can be established in Turkey: (i) bonds and bills funds; (ii) stock funds; (iii) sector funds; (iv) participation funds; (v) group funds; (vi) foreign securities funds; (vii) gold and other precious metals funds; (viii) composite funds; (ix) liquid funds; (x) variable funds; (xi) index funds; and (xii) private funds. The CMB recently announced that amendments to the Communiqué might be made to allow the establishment of hedge funds as a new type of mutual fund in Turkey. The envisaged amendments relate only to the establishment of hedge funds in Turkey and will not affect the sale of foreign hedge funds or other foreign mutual fund units.

Mergers & acquisitions Three law firms were involved in the announced $3 billion merger of two Canadian gold mining companies. Under the terms of the deal Iamgold will buy Cambior to create a new company that will produce more than one million ounces of gold per year. Stikeman Elliott advised Iamgold on the deal, while Dorsey & Whitney and McCarthy Tétrault acted for Cambior.

Good news for Europe

Why companies in both Europe and Asia are looking to the equity-linked market for growth capital

Mexico's new player

The upcoming revisions to the tender offer/takeover bid (TOB) rules are expected to introduce more exhaustive regulations, affording better investor protection.

Owen Foley and John Jones of Misick & Stanbrook provide an overview of corporate governance issues for international business corporations formed in The Turks and Caicos Islands

Ken Rushton finds leading commentators in agreement that dialogue between investors and companies is crucial to promoting good corporate governance