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Korea's adoption of securities-related class action lawsuits has been met with expectation from proponents and critics alike. But, as Sheron Korpus explains, Korean companies might have won the initial battle, as plaintiffs face considerable obstacles to filing suit

Hedge funds are increasingly interested in Japan as the economy recovers and reforms ease investment. But the regulatory environment remains challenging and funds must be aware of the risks. By Christopher P Wells

Steven Bennett and Sam Millar compare the different approaches to e-discovery in the US and the UK, highlighting the difficulties that international businesses face

Nowadays, the bulk of commercial documentary exchanges are electronic, and thus the scope of parties' rights and obligations in connection with disclosure of so-called e-materials must be properly understood. The provisions of the Civil Procedure Rules (CPR) were recently clarified in this respect with the update of Practice Direction 31 (PD-31).

Law firm alliances are widespread, but it can be difficult to judge how good a network is for specialized financial advice. IFLR has analyzed the research used for the latest edition of its corporate finance law directory, the IFLR1000, to reveal the top networks for financial law advice. By Nigel Savage

On October 15 2005, the Securities and Futures Act of Singapore was amended to introduce changes to the securities offering regime that have clarified the position on public offers. The aim of the amendments is to make fundraising easier and less cost-prohibitive for small and medium-sized enterprises (SMEs) by dispensing with the need for a prospectus. The clarity in the definition of what amounts to an offer to the public is achieved by classifying all offers of securities (shares, debentures or units of shares and debentures) as a public offer unless the offer docks within a safe harbour.

Until the amendment of the Romanian constitution by national referendum vote in October 2003, foreign citizens were not allowed to buy property in Romania. But because of this amendment, foreign citizens will be able to acquire the right to privately own land in Romania, after its accession to the EU and pursuant to other mutual international treaties to which Romania is a party.

A specialized regime governing hedge funds or professional investor funds (PIFs) was introduced in Malta in 2000. In 2005 the number of licence applications received by the Malta Financial Services Authority (MFSA) was more than double the number of licences it had issued in the previous four years.

On December 29 2004, the National Assembly passed the Employee Retirement Income Security Act (ERISA) to introduce a more comprehensive employee retirement pension plan, including derivation of and alternatives to the current severance scheme. ERISA took effect in December 2005, and the introduction of new retirement pension plans sponsored by employers is a milestone, not only for employee benefits and welfare in Korea, but also for the Korean financial market.