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  • Allen & Overy has advised Citigroup on the creation of the first structured investment vehicle (SIV) to include a mezzanine tranche. Sedna Finance Corporation is the 17th SIV, but makes advances on previous similar structured finance vehicles by adding a second layer of debt from the outset.
  • Bank of Ireland has launched the jurisdiction's first mortgage-covered bond, testing both the market's appetite and the legislation permitting such bonds with a three times oversubscribed €2 billion offering.
  • In 2004 the Danish Parliament is expected to adopt new provisions in the Danish Securities Trading Act implementing, among other things, the Market Abuse Directive. Meanwhile, the Danish Financial Supervisory Authority (FSA) has rendered two decisions interpreting the Danish insider trading rules.
  • Nobody expects . . . the EU Accounts Modernization Directive Charles Mayo of Simmons & Simmons answers some of the questions raised by the UK's implementation of the EU Accounts Modernization Directive
  • Norway's new initiative: the corporate governance code The Oslo Stock Exchange and various other Norwegian bodies have proposed a corporate governance code, due for release in December. Erling Christiansen of Advokatfirmaet Schj¸dt tracks its progress
  • US sets global trends behind governance shake-up Corporate governance reform in the US has launched a new era of legislative activity worldwide. Simon Wong of McKinsey & Company picks out the recurrent themes from country to country
  • Best practice on the agenda in Turkey Family-owned businesses make up 99% of the Turkish private sector. But even small companies need to consider corporate governance practices, says Ümit Hergüner of Hergüner Bilgen Özeke
  • The progress of the regulatory approach Rather than merely suggesting that companies comply with corporate governance principles, Switzerland is now ordering them to do so. Michel Haymann of Haymann & Baldi explains
  • Korea aims for world-class corporate governance Kyung Taek Jung and Hwa Soo Chung of Kim & Chang Law Offices outline recent trends in Korean corporate governance focusing on the duties and liabilities of directors under Korean law
  • Why investors should be careful who they trust Gone are the days when investments could be made and forgotten about. Paul Lee, manager of shareholder engagement at Hermes Investment Management, laments that, even the safest investments now need careful monitoring