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In the interest of protecting investors, the Securities and Exchange Law (SEL) requires that information material to an investment decision be disclosed to the public. For example, in general, when companies offer or issue securities of more than ¥100 million (approximately $869,000), a securities registration statement (SRS) is required to be filed to the Local Finance Bureau (LFB) and made available for public inspection. Also, listed companies must disclose certain corporate information about their company in a report filed with the LFB on a semi-annual basis (annual securities report and semi-annual securities report). Currently, these disclosure documents are required to be filed and accessed online.

Despite the recent downturn, where the Jakarta Stock Exchange lost almost 18% of its capitalization, Indonesia's capital market remains live and active. A lot of mid-sized companies are either seeking strategic investors or hoping to enter the capital market via an initial public offering (IPO), while a lot of private equity investors and foreign hedge funds still find Indonesia attractive. In 2005, the Jakarta Stock Exchange was named one of the best performing capital markets in the world.

Isda general counsel Kimberly Summe talks to Daniel Andrews about making the switch from private practice to an industry association

The most important aspect of the recent prosecution of Paul Davidson in the UK is that it clarifies market abuse as a criminal act, says Julian Connerty

United Kingdom

The Netherlands

Peter Eastham of Standard & Poor's explores some of the benefits of developed securitization markets, and examines the roadblocks to be overcome for the continued development of securitization in the Asian markets

Structured finance issuance worldwide in 2005 reached $3.7 trillion. In the first quarter of 2006 alone issuance grew 23% year on year.

In Hungary the legal position of the shareholders of a target company is of specific importance in terms of what legal remedies such shareholders can seek with respect to a public takeover offer, and how they may eventually use such remedies to jeopardize or block an offer procedure. Although there were certain changes in the applicable legislation, the implementation of EU Takeover Directive as of May 20 2006 did not bring significant changes to the system of remedies in Hungary.

An abstract definition of Public-private partnerships (PPPs) would classify a PPP agreement as any joint venture between a public body and a private company, typically involving the joint ownership of a special purpose vehicle (SPV) established under company law, to work in collaboration on a variety of projects. PPPs are a type of public procurement akin to traditional types of public contracts. What differs is the financial aspects of the agreement and the precise transfer of risk in the contractual relationship. This means that the PPP market is effectively a new market. A recent Greek law (Law 3389/2005) introduces the first regulation on PPPs in Greece and opens the market to this new type of public procurement.