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Anne Grimonet of Herbert Smith explains how recent law changes are giving shareholders increased transparency and control regarding executive director compensation

Sponsors need to consider all the financing options

By Evangelina Lardizábal of Arias & Muñoz

On September 5 over 150 corporate counsel, general counsel and private practitioners gathered in the stunning surroundings of the Burj Al-Arab in Dubai to celebrate IFLR's Middle East Awards 2006.

Expect the first true sale securitization in a matter of months

Useful guidance on awarding UK contracts

Why so many Cayman Islands and BVI companies are joining Aim to invest in emerging markets

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.

In Swiss private banking, trust services and trusts have been offered and administered for decades, but the concept of trusts is almost unknown in Swiss law. As Switzerland is a civil law jurisdiction, for historical reasons, Swiss legislation does not provide for statutory provisions governing trusts. This always left uncertainty in Swiss legal practice, as well as in the Swiss trust industry, on issues such as the recognition of trusts and the law they are governed by, the enforcement of foreign judgments and the separation of assets in the event of a trustee's bankruptcy.

Boon for MBOs