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Sometimes innovation turns out to have unexpected side effects. Competitive initial public offerings (IPOs) were designed to prevent repricing by encouraging banks to quote more accurate price ranges before receiving bookrunner positions. But now they are under regulatory scrutiny amid concerns that they over-inflate prices and risk compromising research.

Ken Willman, Goldman Sachs Kenneth Willman, general counsel of Goldman Sachs (Asia), used the opening address at IFLR's Asia Capital Markets Forum last month to call for greater liberalization of the region's securities markets.

The UK Financial Services Authority has put 25 hedge funds under daily scrutiny, becoming the most recent in a line of regulators to focus attention on the sector. James Rice reports

Italy's parliament is discussing a law to boost investor protection. But the market needs tougher internal corporate controls more than it needs extra laws, says ex-Parmalat counsel Bruno Cova. By Daniel Andrews

Ben Maiden reports on the continuing debate over the NYSE's regulatory arm

Paul Hastings promoted real-estate specialist Mark Brooks to of counsel in the firm's Hong Kong office. Brooks, a New York qualified lawyer, is part of a team of over 20 real estate lawyers in Asia. He has practised in Tokyo, representing foreign-backed lenders and borrowers in connection with securitized financings of commercial projects.

David Wilson, OSC David Brown, Davies Ward David Wilson took office as the new head of the Ontario Securities Commission (OSC), the most influential financial regulator in Canada. Wilson began work on November 1 at the start of a five-year term. Before chairing the OSC, Wilson was vice chairman of the Bank of Nova Scotia and chairman and chief executive of Scotia Capital. He took over from David Brown, who had led the OSC since 1998. Brown rejoined Davies Ward Phillips & Vineberg this month as counsel, having been a senior partner with the firm before moving to the OSC. His experience as a lawyer includes corporate finance, restructurings and mergers and acquisitions. During his time at the OSC, Brown took a leading role in pushing for greater uniformity of securities rules and for the creation of a national regulator to replace the 13 existing provincial and territorial authorities.

Jeremy Sandelson was voted managing partner of Clifford Chance's London office, with effect from January 1 2006. Sandelson, head of the firm's litigation and dispute resolution practice, takes over from Peter Charlton, who is to become global head of the firm's corporate practice. The role of London managing partner incorporates that of managing partner of the Dubai office.

Argentina's most heavily populated region, Buenos Aires, opened an offer to restructure more than $3 billion in debt. The offer was launched last month and is due to expire December 16 and close in early 2006. Argentina's federal government defaulted on more than $100 billion in debt in 2001 and the country's provincial governments followed suit. The federal government closed its groundbreaking exchange offer in June this year, and the Buenos Aires provincial government is now attempting to restructure its own debts. Cleary Gottlieb Steen & Hamilton, which advises the national government, is also acting for the Buenos Aires government. Roger Thomas and Carmen Corrales are the firm's lead partners on the exchange, but lawyers from Cleary's offices in Rome, Frankfurt, Paris, London, Brussels and Moscow are also involved. Shearman & Sterling is advising Citigroup Global Markets, the global coordinator of the swap, with Antonia Stolper as lead partner.

After years of planning, the UK has launched a comprehensive update of its company laws to cut red tape, limit auditor liability and increase shareholder powers. By Vanessa Knapp