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Brazil hopes that a new law on public-private partnerships will help pay for improvements in areas such as energy production and transport. Andréa Arean Oncala explains

Two energy industry cases have set a debtor’s right to disavow contracts against the desire of regulators to protect consumers. By Joseph Smolinsky

The NYSE's proposed hybrid market would allow brokers to choose whether they want to trade automatically or manually. But the details of the proposal are fraught with difficulty. Linda Lerner explains

The Indonesian parliament has approved a new Act on Bankruptcy and Debt Moratorium. Among the various provisions stipulated in the Act, new provisions on the requirements to approve a composition plan in debt moratorium stand out.

The Irish Finance Act 2004 contained a number of measures aimed at increasing the attractiveness of Ireland as a corporate headquarters and holding company (HoldCo) jurisdiction. These new measures provided for an exemption from corporation tax on gains arising on the disposal of qualifying shares, and a wider double tax relief for foreign taxes levied on dividends received by an Irish resident company. These measures were subject to clearance from the European Commission, which was received on September 23 2004, and the relevant Commencement Order to bring the measures into effect from February 2 2004, which has been issued.

On January 30 2004, The Stock Exchange of Hong Kong Limited (the HKEX) issued an exposure paper on the proposed Code on Corporate Governance Practices (the Code) and the requirement that Hong Kong listed companies file corporate governance reports.

The implementation of the EU Directive 2003/6/EC on insider dealing and market manipulation (the Market Abuse Directive), which aims to enhance investor confidence on the European financial markets and provide a common legislative framework for dealing with market abuse and disclosure issues, has been delayed in Finland.

On August 18 2004 the Brazilian Securities and Exchange Commission (CVM) issued a new set of rules applicable to the organization and operation of mutual funds in Brazil, which will be effective as of November 22, 2004 (Rule 409).

An elite group of five firms with Linklaters at its head has profited most from the gradual recovery of international equity markets. Rob Mannix reports

Norwich Union in October raised £200 million secured against future business profits, showing an increasing willingness among UK insurers to use securitization as a funding tool.