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The Financial Supervisory Commission amended the Guidelines for the Authorization of Banking Business in July 2004. The amendments now include prerequisites that foreign financial institutions (including foreign financial holding companies) must satisfy to establish subsidiary banks in Korea. The amendments have also relaxed the approval standards for foreign banks wishing to set up branches in Korea.

Consistent and well-crafted rules are critical to spur good corporate governance in Asia, says Jamie Allen

In an attempt to increase certainty for investors in emerging market debt, trade bodies have endorsed a standard form of collective action clauses (CACs) governed by English law.

Data privacy is often forgotten during mergers and acquisitions, exposing buyers and sellers to private claims as well as public penalties. Wim Nauwelaerts explains

French directors effectively remain immune from liability to third parties, except when criminal sanctions are involved. By Jonathan Wohl and Franck Menand

In the first of two articles on private equity investment in China, Jack Lange tells investors how to structure deals to make the exit process as smooth as possible

A withholding tax exemption for UK and US financial institutions that provide debt finance to Australian companies is a welcome advantage in a market where more and more issuers are raising funds offshore. Teresa Dyson and Anna-Maria Stephens explain

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 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.