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Delegates at the International Bar Association's annual Financial Law Conference last month found themselves split over whether credit rating agencies should face regulation.

John Lutz and David Taub of McDermott Will & Emery A team of six lawyers has left Clifford Chance's New York office to take up residence with US rival McDermott Will & Emery. The team, which consists of three partners, one of counsel and two associates, are all focused on derivatives and structured products advice.

All seven living former SEC chairmen have taken the unusual step of writing to express their support for a Commission proposal on independent mutual fund chairmen.

The Financial Services Authority must avoid prejudging the outcome of investigations in its quest for quicker results, says the former head of its market integrity group, Martyn Hopper

Chinese companies that tap the US capital markets must beware the country's litigious investors, say Jack C Auspitz, Charles C Comey and Paul W Boltz

Adam Glass surveys the prospects for securitization lawyers and their clients as the market searches for the next innovation

On March 9 2004 the president of the Russian Federation adopted Decree 314 On the System and Structure of Federal Executive Authorities (the Decree). The Decree, which came into force on March 11 2004, and the recent Presidential Decree 649 of May 20 2004 amending the Decree, provide for the general restructuring of the system of federal executive authorities and increase the effectiveness of the new federal executive authorities system. The Decree abolished most federal bodies and delegated their functions to newly organized ones.

On May 7 2004 the Netherlands Supreme Court (Hoge Raad) rendered a judgment with respect to a private limited liability company (a besloten vennootschap or B.V.) providing financial support to third parties for the purpose of buying shares in a B.V. This issue is regulated by article 2:207c of the Netherlands Civil Code (the NCC), the purpose of which is to protect the creditors of a B.V. against a large withdrawal of capital for the benefit of the shareholders of a B.V.

The Danish Securities Trading Act includes various simple provisions forbidding holders of inside knowledge from buying or selling or inducing others to buy or sell listed securities.

On February 13 2004, the Ministry of Commerce (MOC) issued Provisions on the Establishment of Companies with an Investment Nature by Foreign Investors. The Provisions cover a relatively new trend in China foreign investment whereby many multinational companies are moving their regional headquarters to China.