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The new Bosnia and Herzegovina (BiH) Law on Competition entered into force in BiH on July 26 2005. The Law is modelled on EC law and covers restrictive agreements, the abuse of a dominant position, and concentrations in the territory of BiH. Of the provisions in the Law on Competition, the requirement to notify concentrations to the respective competition authority will have the most immediate and onerous effect for concentrations in the region.

Europe's action on climate change has created a new market in emissions trading. Amy Merrill and Vivek Jain explain how the EU scheme is structured and how trading will work in practice

Howard Mulligan explains how legislation to harmonize anti-predatory lending across the US could reap rewards for the mortgage securitization industry

An open market for gas in France remains some distance away because of obstacles for new entrants and the power wielded by the incumbent suppliers. But progress remains possible. By Thierry Chaumeil

By Michael Evans

Ben Maiden reports on how Brazil's C bond exchange successfully adapted auction techniques unpopular in the corporate debt markets to sovereign use

Private equity is often seen as a closed world of complex financial engineering. But most deals in fact turn on the careful negotiation of a set of core documents. Simon Cooke explains how to make sure all parties' needs are met

DLA Piper Rudnick Gray Cary hired Charles Morrison to lead the firm's drive into Africa. Morrison was a banking partner with Denton Wilde Sapte. He gained experience of sub-Saharan African jurisdictions while handling trade and project finance transactions for European banks. Morrison also acts for African governments on bank and utility privatizations.

Ben Maiden reports on warnings that a New York bankruptcy court's treatment of derivatives and commercial paper could destabilize the market

Bradley Kurkowski, White & Case Dirk Schmalenbach, Freshfields Bruckhaus Deringer David Roberts, Olswang Perry Noble, Freshfields Bruckhaus Deringer White & Case appointed two new legal counsel to its capital markets group in London. Christopher Whiteley joins the structured finance practice from JP Morgan and US-qualified Bradley Kurkowski joins the high yield debt team from Weil Gotshal & Manges. Kurkowski has acted for both investment banks and companies on a variety of debt offerings and Whiteley specializes in credit derivatives.