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Swiss company law does not address the transparency of management and board of directors' remuneration. For companies listed on the SWX Swiss Exchange, the SWX Directive on Information Relating to Corporate Governance (the SWX Directive) requires that management and board of directors' remuneration be disclosed. However, the SWX Directive only requires the total amount of compensation paid to the board of directors and the management board to be indicated. The Swiss Code of Best Practice for Corporate Governance also addresses the disclosure of corporate governance issues. However, the Swiss Code does not provide binding corporate governance standards. It just aims to give recommendations for listed companies.

To attract the billions of dollars held by Middle Eastern investors, the Singapore Exchange (SGX) is developing a series of indices that are compliant with Islamic law (Sharia).

Until 1993, when the telecommunications market was partially liberalized, the 100% state-owned Tanzania Posts and Telecommunications Company (TPTC) was both provider of telecommunication services and regulator of the Tanzanian telecommunications sector.

Serbia's government has prepared a draft Investment Funds Law, which was officially submitted to parliament in September 2005. The draft law was prepared in cooperation with World Bank experts, and was modelled on to the EC Ucits directives.

The law on company income tax in Latvia provides new exceptions regarding the taxation of a company's income from dividends.

Brian M McCall challenges the Commission's reluctance to address the role of clearing systems in shareholder voting

The Capital Markets Board (CMB) recently revised its draft law proposing amendments to various pieces of legislation, to address the legal issues hindering the growth of the mortgage market.

Disney eyes Pixar acquisition Three firms took roles on Walt Disney's acquisition of animation company Pixar. The deal, valued at $7.4 billion, will combine Disney with its long-time collaborative partner Pixar, which has produced films such as Toy Story, Monsters Inc and The Incredibles. Skadden Arps Slate Meagher & Flom was lead counsel to Disney on the deal. Brian McCarthy and Joseph Giunta of the firm's Los Angeles office headed the team. Dewey Ballantine, which has close ties to Disney, advised the company on tax and historical issues through Adel Aslani-Far, Morton Pierce and Gordon Warnke. Wilson Sonsini Goodrich & Rosati represented Pixar with a team including Larry Sonsini, Michael Ringler, Jose Macias and Marty Korman. The firm worked in collaboration with Pixar's general counsel, Lois Scali.

Dorsey & Whitney and Chadbourne & Parke were lead counsel on one of the largest ethanol projects to come to market. Financing on the $423 million ASAlliances Biofuels project closed in February, marking the first time that commercial banks have syndicated on an ethanol deal. Financing for the project was provided by a combination of bank loans, private equity and subordinated debt. The deal will involve greenfield construction of ethanol production facilities in Ohio, Nebraska and Indiana. Dorsey & Whitney advised the project company through partners David Swanson, Robert Hensley and Mike Pignato. Chadbourne & Parke acted for WestLB, the lead arranger and agent to the syndicate of 17 senior lenders. Washington DC partner Rohit Chaudhry led for the firm. Patton Boggs and Moore & Van Allen acted for American Capital Strategies and Laminar Direct Capital respectively, each of which were among the firms providing private equity and subordinated debt to the project.

The UK's new Disclosure Rules came into effect on July 1 2005, implementing the EU Market Abuse Directive.