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Sandor E Schick analyzes the detail in China's proposed bankruptcy laws and what it means for creditors and private businesses in particular

The reasoning of the government bill, enacted into law by the Turkish parliament as Law 5020 Amending the Banks Act and Certain Other Laws (Law 5020), explains in a few sentences why amendments were required to the legislation regulating the banking and finance system: the Savings Deposit Insurance Fund (SDIF) owes about $25 billion to the Turkish Treasury, due to bank failures. The reasoning includes a brief history explaining how this debt reached such an enormous figure and says that the government is determined to collect this amount from the liable parties, especially the bank owners and their cooperators who intentionally caused these failures and somehow benefited from them.

Is the reform-minded budget good for the economy or just for the new government's popularity, asks Sandeep Parekh

Bond covenants can deny developing-markets companies access to securitization as a financing option. Jim Patti looks at standard clauses and considers how they might change to make structured deals easier

Fairness opinions given by investment banks on mergers and acquisitions deals are the most recent focus of regulators' concerns over potential conflicts of interest. Deborah A DeMott explains

A civil lawsuit against the former chairman of the New York Stock Exchange is the latest US suit to grab the business headlines. Henry Morgenbesser discusses the case and its implications for the market

US securities regulators have set down plans affecting the ability of banks to act as brokers. Winthrop Brown and Naomi Beard report

The Financial Services Authority has modernized its approach to enforcement. Andrew Procter explains how to IFLR's Michael Evans

Certain foreign currency transactions between residents and non-residents that involve non-cash settlements will be carried out using special bank accounts under new Russian currency legislation.

On July 1 2004 the new Act (2004:299) on Deposit Taking entered into force. The Act introduces a set of special requirements for non-financial institutions accepting deposits from the general public. The new Act is part of the modernization of the legislation on banking and financing businesses in Sweden and the abolition of the banks' monopoly on taking deposits.