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Proposed reform of UK company law would widen directors' responsibilities and the basis on which investors can sue on the company's behalf. But will the changes leave directors exposed to more litigation? James Rice reports

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

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

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.

London's market for growth stocks is attracting more international issuers, thanks to light regulation and low costs. Now US companies are taking notice. By Kenneth R Lamb, Judith L Shepherd, Justin K McAnaney and Oliver P s'Jacob

Japan's 80-year-old Trust Law is expected to be significantly revised next year to provide a more modern and sophisticated trust system to facilitate the wider use of trusts. Last July, the Ministry of Justice published, for public comment, an outline summarising many of the provisions that are expected to be included in the new law.

The global aviation industry has encountered considerable turbulence in recent years, but it appears that clear skies lie ahead. Ireland is widely known as a strong contender within the aviation financing and leasing sectors and recent developments (both domestic and international) serve to maintain and fortify that position.

Squeeze-out mechanics are of special importance for Hungarian public companies. However, the definition of a squeeze-out set out in Act CXX of 2001 on Capital Markets (the CMA) poses difficulties in practice. In particular, certain aspects of a squeeze-out (for example, calculation of the applicable threshold) remain doubtful under Hungarian law. The implementation of EU Directive 2004/25/EC of April 21 2004 on Takeover Offers could bring changes to the current system in Hungary.

The real estate market in Bosnia and Herzegovina (BiH) is increasingly buoyant. Foreign investors are rapidly becoming aware that they can buy relatively inexpensive property directly or through the use of a BiH company. At present, the price per square metre of an apartment in the capital city of Sarajevo is between €500 and €900 ($600-1,080), depending on the age of the building and whether renovation is required. It is not just residential property which is in demand.