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The Greek parliament recently approved Law 3310/2005 on measures to secure transparency and to prevent circumvention upon conclusion of public contracts, which applies to the procedure for the conclusion and performance of public contracts and is known as the Law on Substantial Shareholders. A substantial shareholder for the purposes of the Law is any natural person or legal entity, that: (a) holds 1% of the company's share capital or voting rights; (b) irrespective of its holdings, belongs to the 10 greater shareholders of a company because of its participation in the company's share capital or the number of voting rights that it holds; (c) is entitled to appoint or recall one member of the board of directors; (d) has concluded, either directly or indirectly, contracts with the company that yield income greater that one tenth of the company's gross income in the previous fiscal year.

Paul Hastings scoops Parmalat counsel

A recent judgment in the WorldCom class action has thrown into question the liabilities underwriters face for their due diligence work. Scott Budlong explains

"This is exactly what Asia was missing and I'm already planning on attending next year." So said a senior in-house lawyer with a global investment bank after the conclusion of the first annual Asian M&A Forum at Hong Kong's Island Shangri-La Hotel on 13 and 14 April.

While many banks in Asia-Pacific await Basel II guidance from national regulators, there are other ways the institutions can prepare for the new regime. By Eric Hansen

The burden of US anti-money-laundering efforts on financial institutions supports a move to risk-based regulation, argues Arthur Long

Despite controversy over the 2003 ruling in Australia to uphold Isda's flawed-asset provision, the recent affirmation on appeal means that it is here to stay. But the ruling is commonly misunderstood, says Scott Farrell

A recent court decision means financial institutions outside the EU no longer need a German banking licence to provide cross-border services to clients in the country. Jens Rinze analyzes the ruling

Jim Bartos and Peter King discuss why and how non-US companies are seeking to deregister from the SEC

Fairness opinions in France usually play a minor role in tender offers. That is about to change, thanks to a new set of recommendations. Eric Cafritz, James Gillespie and Jean-Florent Rérolle explain